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 comparing ThinkMarkets and iFOREX in terms of commissions and fees, ThinkMarkets emerges as the better option. It holds a solid rating of 4 out of 5 stars, reflecting its user-friendly fee structure. ThinkMarkets ranks #47 out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com, indicating a competitive position among its peers.
On the other hand, iFOREX offers a slightly less favorable experience with a rating of 3 out of 5 stars for commissions and fees. This is supported by its rank of #61 out of 63 brokers, suggesting there may be more cost-effective alternatives available in the market.
While specific average spread data isn't available for either broker, ThinkMarkets generally stands out due to its higher rating and better ranking in the Commissions and Fees category. This suggests that users might find more value in choosing ThinkMarkets over iFOREX if minimizing trading costs is a priority.
| 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.
ThinkMarkets and iFOREX are well-known online brokers, both offering forex trading as CFDs or spot contracts. ThinkMarkets provides its clients an impressive selection of 4,000 tradeable symbols, with 46 forex pairs, while iFOREX offers 750 tradeable symbols and a wider variety of 88 forex pairs. Both platforms lack offerings of exchange-traded securities on U.S. exchanges but differ when it comes to international options. ThinkMarkets allows clients to trade international exchange securities, such as Vodafone shares, whereas iFOREX does not provide this feature.
In terms of cryptocurrency, neither broker supports purchasing actual digital currencies, though both offer cryptocurrency derivatives. ThinkMarkets further enhances its appeal through the option of copy trading, a feature iFOREX does not offer. This comprehensive offering has earned ThinkMarkets a 4.5-star rating for its range of investments and a #23 ranking from ForexBrokers.com. In comparison, iFOREX holds a 3.5-star rating and is ranked #41. Overall, ThinkMarkets demonstrates a more extensive range of investments and trading features than iFOREX, appealing to traders looking for diverse options.
| 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.
ThinkMarkets and iFOREX both provide investors with daily market commentary, ensuring that traders have consistent updates designed to inform their trading decisions. While both brokers offer economic calendars covering global economic events, a key difference lies in their news sources. ThinkMarkets delivers forex news from top-tier outlets like Bloomberg and Reuters, which many traders find valuable. In contrast, iFOREX does not offer similar access to such renowned sources. Both brokers provide sentiment-based trading tools, helping traders gauge market sentiment on currency pairs, but they diverge in their partnerships with research tool providers. iFOREX uses Trading Central's technical tools, whereas ThinkMarkets partners with Acuity Trading. Notably, neither broker incorporates Autochartist's technical analysis tools.
Despite these differences, both ThinkMarkets and iFOREX receive the same research rating of 3.5 stars, according to ForexBrokers.com. However, a closer look at their rankings among 63 brokers for research reveals that iFOREX holds a slight edge, ranked at #48 compared to ThinkMarkets at #50. This nuanced distinction might influence potential investors looking to refine their choice based on detailed research capabilities offered by each platform, underscoring the subtle variances that can impact trading outcomes.
| 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 | |
| Signal Centre (Acuity Trading) | Yes | |
| 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
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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 | |
|---|---|---|---|
| Broker Gallery (click to expand) |
| 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) | |||
| 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) | |||
| 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) |
| 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 | ||
| 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 | |
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| Overall | ThinkMarkets | iFOREX | |
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| Trust Score | 92 | 75 | |
| Winner | check_circle | ||
| Review |
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