Written by ForexBrokers.com
In this head to head comparison of IG vs ThinkMarkets, 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.
When comparing IG and ThinkMarkets, IG emerges as a more established player in the online brokerage space, having been founded in 1974 versus ThinkMarkets' 2010 inception. IG is publicly traded and operates as a bank, enhancing its credibility and reputation further. With a perfect Trust Score rating of 99 from ForexBrokers.com, IG is considered highly trusted, boasting 8 Tier-1 licenses and 2 Tier-2 licenses, underscoring its commitment to stringent regulatory oversight. In contrast, ThinkMarkets holds a commendable Trust Score of 92, with 5 Tier-1 licenses and 2 Tier-2 licenses, indicating a strong but slightly lesser regulatory framework than IG.
Despite not being publicly traded or a bank, ThinkMarkets maintains a reputable presence in the financial markets. IG's broad regulatory coverage and higher trust rating provide an added layer of security for investors, making it a preferred choice for individuals seeking long-term stability and reliability. Nonetheless, ThinkMarkets is still a solid option for traders looking for a trusted broker, benefiting from its multiple licenses and a history that, while shorter than IG, is still substantial in the world of online trading.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing commissions and fees between IG and ThinkMarkets, IG emerges as a strong contender for active traders, thanks to its specialized Forex Direct accounts that offer attractive pricing plans. With average spreads on its Forex Direct account approximating the industry standard, IG maintains a competitive edge with spreads averaging 0.62 pips in July 2023, translating to an all-in cost of 0.82 pips after including a commission equivalent of 0.2 pips. It offers rebates for high-volume traders, providing significant discounts up to 20% based on forex volume. Additionally, IG's Direct Market Access (DMA) account caters to savvy traders seeking deeper discounts, with spreads as low as 0.82 pips when trading volumes exceed $1 billion per month. IG's robust offerings earn it a 5-star rating for commissions and fees, securing the #8 ranking out of 63 brokers according to ForexBrokers.com.
ThinkMarkets, while offering competitive options, does not provide average spread data, making direct comparison with IG challenging. With a 4-star rating for commissions and fees, ThinkMarkets holds the #47 position in ForexBrokers.com's category ranking. This suggests it may offer reasonable value but may not match the specialized pricing and rebates available through IG, which could be crucial for those engaging in high-frequency forex trading.
Overall, IG's various pricing structures and rebate programs place it ahead for traders looking for cost-effective trading solutions, especially in forex markets. While ThinkMarkets provides solid brokerage services, potential traders should assess their specific needs regarding spread and volume-based discounts before making a choice between the two.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | £250.00 | $50 |
| Average Spread EUR/USD - Standard | 0.98 | 1.1 |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and ThinkMarkets in terms of available investments, both brokers provide opportunities for forex trading via CFDs or spot contracts. IG stands out with a massive offering of 19,537 tradable symbols, whereas ThinkMarkets provides 4,000. In the forex arena, IG offers 97 currency pairs compared to ThinkMarkets’ 46. For those interested in exchange-traded securities, IG boasts availability on both U.S. and international markets, enabling clients to buy shares like Apple and Vodafone. Conversely, ThinkMarkets only supports international shares, not U.S. ones.
Cryptocurrency enthusiasts will find IG more versatile, as it allows for the purchase of actual cryptocurrencies and cryptocurrency derivatives, while ThinkMarkets is limited to derivatives. Although both do not support copy trading, ThinkMarkets does offer this feature. The differences in investment range have earned IG a 5-star rating and a #4 rank by ForexBrokers.com, while ThinkMarkets holds a 4.5-star rating and is ranked #23. These distinctions highlight the broader investment choices provided by IG, particularly beneficial for clients seeking diverse trading options.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 4000 |
| Forex Pairs (Total) | 97 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 the trading platforms and tools of IG and ThinkMarkets, both brokers offer a range of user-friendly options. IG stands out with a perfect 5-star rating for its trading platforms and tools. It provides a proprietary platform, a Windows-based desktop option, and a web-based trading platform, all of which offer simulated trading through a free virtual demo account. IG also supports MetaTrader 4 (MT4), but not MetaTrader 5 (MT5) nor copy trading features like ZuluTrade or DupliTrade. Charting tools include 20 drawing tools and the ability to trade directly from stock charts, with watch lists offering five columns for customization.
ThinkMarkets, rated 4 stars for its trading platforms and tools, also presents a strong offering with a proprietary platform, a Windows-based desktop platform, and a web-based option, each including a free virtual demo account. Though it offers both MT4 and MT5, a feature advantage over IG, ThinkMarkets also supports copy trading, unlike IG. However, its charting options include slightly fewer drawing tools at 15, though it matches IG in allowing trading directly from charts. ThinkMarkets excels in watch list customization with fifteen columns, despite being ranked #28 by ForexBrokers.com compared to IG's #2. Overall, both platforms cater well to traders, with specific features appealing to different trading needs.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and ThinkMarkets offer highly compatible trading apps for iPhone and Android devices, catering to stock and forex traders on the go. Both platforms enable users to receive price alerts and draw trendlines on charts with multiple time frames such as daily, weekly, or intraday. However, when it comes to syncing watchlists between the mobile app and the online account, IG has a clear advantage. Syncing allows traders to update their watchlists seamlessly across devices, a feature not present in ThinkMarkets' app.
IG also impresses with 33 technical studies available for charting in its mobile app, though ThinkMarkets offers significantly more, with 94 options. Despite this, IG's app earns high praise, receiving a five-star rating and ranking first out of 63 brokers for mobile trading apps by ForexBrokers.com. In comparison, ThinkMarkets garners four stars and is ranked 20th. Traders who prioritize seamless watchlist syncing might lean toward IG, while those needing extensive charting tools might consider ThinkMarkets. Overall, both apps promise a solid trading experience, but IG stands out with its top-rated mobile app features.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 94 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For traders keen on market research, IG and ThinkMarkets offer valuable resources, but their offerings highlight distinct differences. Both brokers provide daily market commentary and deliver forex news from leading sources such as Bloomberg and Reuters, ensuring users remain informed with the latest updates. Additionally, both brokers feature sentiment-based trading tools that help users gauge market trends by showing the ratio of long or short positions. Moreover, each platform furnishes an economic calendar, keeping traders abreast of global news events. However, IG distinguishes itself by providing market research via TipRanks and technical analysis tools from Autochartist, resources ThinkMarkets does not offer.
When delving into research tool quality, IG appears to take the lead, securing a 5-star rating for research compared to ThinkMarkets' 3.5 stars. This is reflected in their standings, with IG ranking #2 out of 63 brokers in the Research category by ForexBrokers.com while ThinkMarkets trails at #50. Both brokers utilize research tools from Acuity Trading to enhance their insights, but the additional resources and higher ratings underscore IG's commitment to comprehensive market analysis, offering traders an edge through its wide array of research tools.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and ThinkMarkets both provide a variety of educational resources for traders, especially those new to the world of forex and CFDs. Both platforms offer more than 10 educational pieces, such as articles, videos, and archived webinars, focusing on forex or CFD topics. They also host online webinars monthly and maintain a searchable archive of past sessions to aid ongoing learning. Each broker offers over 10 videos tailored for beginners, as well as advanced content for seasoned traders. Additionally, both IG and ThinkMarkets provide investor dictionaries featuring more than 50 investing term definitions, making them great learning hubs for understanding trading concepts.
Despite the similarities in educational offerings, there is a noticeable difference in the ratings and rankings of these brokers. IG shines with a perfect 5-star rating for its educational content, securing the top spot as the number one broker for education on ForexBrokers.com. In comparison, ThinkMarkets is rated at 3.5 stars and is ranked 52nd out of 63 brokers in the education category. This disparity suggests that while both platforms supply ample learning materials, IG’s educational resources are regarded more highly by users and industry experts alike.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than ThinkMarkets. IG finished with an overall rank of #1, while ThinkMarkets finished with an overall rank of #27.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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While IG allows investors to purchase both actual delivered cryptocurrencies and cryptocurrency derivatives, ThinkMarkets provides the option to trade only cryptocurrency derivatives, not the actual cryptocurrencies.
When comparing online brokers IG and ThinkMarkets, IG supports ACH, SEPA, PayPal, Visa, Mastercard, and bank wire transfers for both deposits and withdrawals, while ThinkMarkets offers Visa, Mastercard, bank wire transfers, and Skrill but lacks ACH, SEPA, and PayPal options.
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 | IG | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | ThinkMarkets | |
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| Regulation | IG | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | IG | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 4000 | |
| Forex Pairs (Total) | 97 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 15 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | ThinkMarkets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 94 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | ThinkMarkets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | ThinkMarkets | |
|---|---|---|---|
| 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 | IG Review |
| Overall | IG | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | IG Review |
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