Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
ThinkMarkets and iFOREX are two online brokers that differ significantly in terms of their trust and regulatory standing. Founded in 2010, ThinkMarkets is a relatively newer player in the financial market. Despite this, it holds 5 Tier-1 licenses, which are highly trusted, and 2 Tier-2 licenses according to ForexBrokers.com. ThinkMarkets has a Trust Score of 92 out of 99, placing it in the category of highly trusted brokers. It is not publicly traded and does not operate as a bank, which is similar to iFOREX.
Founded in 1996, iFOREX has a longer history but has a slightly less favorable regulatory backing with only 1 Tier-1 license and no Tier-2 licenses. It holds an average-risk Trust Score of 75 out of 99 as per ForexBrokers.com. Like ThinkMarkets, iFOREX is not publicly traded and is not a banking institution. When comparing these brokers, ThinkMarkets stands out with a higher trust rating and more regulatory approvals, hinting at a stronger position in terms of safety and reliability for potential investors.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When it comes to commissions and fees, ThinkMarkets offers a competitive edge with a four-star rating. For those looking to optimize trading costs, ThinkMarkets stands as a reliable choice. Although specific average spread data isn't provided, the broker's position at 48th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com offers a solid indication of its competitive pricing.
In contrast, iFOREX receives a three-star rating for its commissions and fees. While it may not lead the pack, it still presents a viable option for traders focusing on cost-efficiency. Similar to ThinkMarkets, average spread data is not available for iFOREX, but its ranking at 61st of 63 brokers in the same category suggests it may have opportunities for improvement compared to some of its competitors.
Understanding the nuances of commissions and fees is essential for traders when selecting an online broker. With ThinkMarkets outperforming iFOREX in both star rating and ranking according to ForexBrokers.com, those highly concerned with trading costs might lean towards ThinkMarkets for a potentially more cost-effective trading experience.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available at ThinkMarkets and iFOREX, both brokers offer forex trading as CFDs, allowing traders to potentially benefit from changes in currency values. ThinkMarkets boasts 4,000 tradeable symbols, including 46 forex pairs, while iFOREX provides 750 symbols, featuring 88 forex pairs. Although neither broker offers the option to trade U.S. exchange-listed securities such as Apple shares, ThinkMarkets extends its offerings to international exchanges, allowing investors to trade stocks like Vodafone. In contrast, iFOREX does not offer this feature.
Exploring further, ThinkMarkets supports copy trading, enabling investors to replicate the strategies of more experienced traders, whereas iFOREX lacks this option. However, both platforms provide access to cryptocurrency derivatives instead of direct cryptocurrency purchases. With a rating of 4.5 stars out of five for its range of investments, ThinkMarkets is ranked #22 out of 63 brokers by ForexBrokers.com, illustrating a comprehensive selection. Meanwhile, iFOREX, with a 3.5-star rating, holds the #41 spot, reflecting a more limited but still diverse offering.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 750 |
| Forex Pairs (Total) | 46 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing ThinkMarkets and iFOREX, ThinkMarkets offers a wider range of trading platforms and tools for the everyday trader. ThinkMarkets supports both a proprietary platform and widely used options like MetaTrader 4 and MetaTrader 5. This gives traders flexibility and choice, with access to a Windows-based desktop platform, web-based trading, and copy trading that iFOREX does not provide. Meanwhile, iFOREX also has a proprietary platform and offers web-based trading, but lacks a Windows desktop option and does not support popular tools such as MetaTrader. For those new to trading, ThinkMarkets provides a free virtual demo account to practice trading risk-free, an option unavailable with iFOREX.
Both ThinkMarkets and iFOREX offer the ability to trade directly from stock charts, enhancing the trader's experience. While iFOREX offers more chart drawing tools with 25 options compared to ThinkMarkets' 15, ThinkMarkets excels with better watch list features, providing 15 columns to iFOREX's 9. Despite ThinkMarkets' more extensive platform offerings, both brokers are rated 4 out of 5 stars for Trading Platforms and Tools. However, ThinkMarkets enjoys a higher ranking on ForexBrokers.com, coming in at 28th out of 63 brokers, while iFOREX holds the 54th position. This suggests that while both brokers offer solid trading technology, ThinkMarkets might be the better choice for those seeking a versatile and comprehensive trading experience.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both ThinkMarkets and iFOREX have mobile trading apps available for iPhone and Android users, making them accessible regardless of your device preference. While both platforms provide basic app functions, there are notable differences in offerings that could influence your trading experience. ThinkMarkets emerges as a stronger contender for those who value advanced features. It supports stock and forex price alerts, a variety of technical studies for charting, and the ability to draw trendlines and view multiple time frames on charts. Furthermore, ThinkMarkets allows for real-time quotes in watchlists and keeps your chart drawings auto-saved, ensuring a seamless and efficient trading experience.
In contrast, iFOREX's mobile app lacks some of these advanced features – it doesn't offer price alerts, the ability to draw trendlines, or the option to view different time frames on charts. Additionally, it doesn't provide real-time quotes for watchlists. Despite these differences, both apps receive a four-star rating for their mobile trading capabilities. However, ThinkMarkets is favored more in rankings, securing the 20th spot out of 63 brokers for mobile trading apps on ForexBrokers.com, compared to iFOREX's 55th place. If sophisticated tools and functionalities are important to your trading strategy, ThinkMarkets may be the more appealing choice between the two.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of ThinkMarkets and iFOREX, both online brokers provide daily market commentary, which can help traders stay informed. However, when it comes to forex news from top-tier sources like Bloomberg and Reuters, ThinkMarkets has the advantage over iFOREX, which lacks this feature. While neither broker offers tools from Autochartist, iFOREX distinguishes itself with access to Trading Central's technical analysis tools, unlike ThinkMarkets. Both brokers provide sentiment-based trading tools that display the ratio of long and short positions across currency pairs. ThinkMarkets offers research tools from Acuity Trading, such as Signal Centre, whereas iFOREX does not. Both platforms include an economic calendar for tracking global news events.
In terms of research performance, ThinkMarkets and iFOREX are both rated 3.5 out of five stars. Despite the similar ratings, iFOREX is ranked slightly higher, at 48th out of 63 brokers, compared to ThinkMarkets' 50th place ranking by ForexBrokers.com. This subtle distinction might indicate minor differences in research depth or user experience, but overall, both provide fairly comparable research capabilities for traders looking to analyze the market effectively.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, ThinkMarkets and iFOREX each offer unique advantages. ThinkMarkets stands out by providing a wealth of educational content, offering more than 10 educational pieces focused on forex and CFDs. This is accompanied by monthly online webinars and a searchable archive of past webinars, which can be a valuable tool for ongoing learning. Additionally, ThinkMarkets offers a comprehensive selection of more than 10 beginner videos specifically tailored for those new to trading, as well as advanced videos for seasoned traders. Their investor dictionary, which includes over 50 investing term definitions, is another useful resource for grasping complex market jargon.
On the other hand, iFOREX lacks the extensive range of educational content that ThinkMarkets provides, particularly in areas such as archived webinars and investor dictionaries. While iFOREX does provide more than 10 educational videos aimed at beginners, it does not match ThinkMarkets in terms of advanced educational video offerings. Despite this, both platforms receive the same education rating of 3.5 stars, and their education rankings by ForexBrokers.com are close, with ThinkMarkets at #52 and iFOREX at #53 out of 63 brokers. For beginner traders looking for a comprehensive educational suite, ThinkMarkets may have the edge over iFOREX.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than iFOREX. ThinkMarkets finished with an overall rank of #27, while iFOREX finished with an overall rank of #52.
ThinkMarkets has multiple regulatory license and offers a proprietary trading platform, as well as the entire MetaTrader suite. The broker has made progress in key areas, such as research and education, and the range of markets available, although trails behind the best brokers in these categories.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 75 |
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Both ThinkMarkets and iFOREX do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
While both ThinkMarkets and iFOREX provide Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, iFOREX also offers PayPal services, whereas neither broker supports ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | ThinkMarkets | iFOREX | |
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| Trust Score | 92 | 75 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | iFOREX | |
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| Trading Platforms Gallery (click to expand) | |||
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| Regulation | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Trust Score | 92 | 75 | |
| Year Founded | 2010 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 750 | |
| Forex Pairs (Total) | 46 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 15 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 94 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | ThinkMarkets | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review |
| Overall | ThinkMarkets | iFOREX | |
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| Trust Score | 92 | 75 | |
| Winner | check_circle | ||
| Review |
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