After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare IG Group vs ThinkMarkets.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. IG Group received a rating of 4.50 stars over ThinkMarkets's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. IG Group alongside ThinkMarkets are regulated in a major hub. IG Group is a publicly traded company, while ThinkMarkets is not. As far as how many currency pairs are available for trading, here's the answer. IG Group boasts an offering of 91 different currency pairs compared to ThinkMarkets's 33 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. IG Group alongside ThinkMarkets offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. ThinkMarkets offers its clients access to 31 charting tools while IG Group has 9 charting tools, a difference of 22. ThinkMarkets offers its clients access to 51 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 29.
Overall, IG Group takes the upper hand with 5.00 stars over ThinkMarkets's 4.00 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while ThinkMarkets found itself with none of these.