Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs IronFX, 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 IronFX, both founded in 2010, are online brokers catering to traders globally. Although neither is publicly traded or operates as a bank, they maintain licensing to ensure regulatory compliance. ThinkMarkets stands out with five top-tier licenses and a Trust Score of 92, placing it in the highly trusted category according to ForexBrokers.com. This high rating is bolstered by its possession of two additional tier-2 licenses. In contrast, IronFX holds three top-tier licenses and a Trust Score of 83, categorizing it as trusted. However, the absence of tier-2 licenses may be a consideration for those prioritizing regulatory reassurance.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing commissions and fees between ThinkMarkets and IronFX, it is essential to consider their offerings and ratings. ThinkMarkets has been rated 4 out of 5 stars for its commissions and fees. Although specific average spread data is not provided, ThinkMarkets is recognized for maintaining competitive pricing. However, in the ForexBrokers.com ranking, it holds the 47th spot out of 63 brokers in the Commissions and Fees category.
IronFX also garners a 4-star rating in the same category, reflecting a mixed reception regarding its pricing structure. The company's standard variable spread account typically lists a spread of 1.8 pips, although these figures can fluctuate depending on the account type. The zero fixed-spread account offers spreads starting at zero but comes with an $18 per lot commission, with spreads broadening to 3 pips overnight. Despite these options, IronFX is placed at the 46th position out of 63 brokers on ForexBrokers.com, indicating slight room for improvement.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $50 | $50 |
| Average Spread EUR/USD - Standard | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 investment offerings of ThinkMarkets and IronFX, both provide opportunities for forex trading through CFDs and spot contracts. ThinkMarkets stands out with an impressive 4,000 tradeable symbols, significantly more than IronFX's 340. However, IronFX offers a higher number of tradeable forex pairs at 83 compared to ThinkMarkets' 46. Neither platform provides access to exchange-traded securities on U.S. exchanges, such as Apple shares. Yet, ThinkMarkets gives investors a broader horizon by allowing trades on international exchanges, including companies like Vodafone, whereas IronFX does not offer this feature.
In terms of innovative trading options, both brokers accommodate copy trading and provide access to cryptocurrency derivatives, although they do not support the purchase of actual cryptocurrencies. When rated for their range of investments, ThinkMarkets receives 4.5 stars, indicating a more comprehensive suite compared to IronFX's 3.5 stars. This advantage is reflected in their rankings by ForexBrokers.com, where ThinkMarkets holds a respectable 22nd position out of 63 brokers, in contrast to IronFX's 51st placement. Overall, ThinkMarkets offers a more extensive investment platform, making it a potentially preferred choice for investors seeking a diverse array of trading options.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 340 |
| Forex Pairs (Total) | 46 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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.
ThinkMarkets and IronFX both provide traders with valuable tools for online trading, starting with free virtual demo accounts for practice. However, ThinkMarkets offers a unique experience with its own proprietary platform, unlike IronFX, which does not have an in-house developed platform. Both brokers support popular MetaTrader 4 functionality, but only ThinkMarkets extends access to MetaTrader 5 for advanced trading options. When it comes to platforms, both brokers meet the standards with Windows-based desktop downloads and web-based platforms, ensuring flexibility and convenience for traders.
For those interested in copy trading, both ThinkMarkets and IronFX allow this option. Charting tools and functionalities are satisfactory at both platforms, with each offering 15 drawing tools and the ability to trade directly from stock charts. When it comes to organizing your investments, ThinkMarkets provides superior watchlist features with 15 columns compared to IronFX's 7. Overall, ThinkMarkets edges ahead with higher user ratings and ranks significantly better than IronFX in trading platforms and tools by ForexBrokers.com, earning 4 out of 5 stars and placing at #28, compared to IronFX's 3.5 stars and #61 ranking.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both ThinkMarkets and IronFX offer feature-rich mobile trading apps for iPhone and Android devices, enabling users to trade on the go. Each app provides essential functionalities like stock and forex price alerts, the ability to create watchlists with real-time quotes, and viewing charts with multiple time frames. Both also allow users to draw trendlines directly on their charts and offer auto-saving features for drawings, ensuring that any custom modifications are retained.
However, there are some notable differences between the two. ThinkMarkets stands out with a more extensive offering of 94 technical studies in its charting features, compared to IronFX's 30. This can provide traders with a broader range of analytical tools at their fingertips. Furthermore, ThinkMarkets has a higher user rating of four stars compared to IronFX's 3.5 stars and is ranked significantly higher by ForexBrokers.com, coming in at number 20 out of 63 brokers, whereas IronFX is placed at 62. One limitation shared by both apps is the lack of watchlist symbol syncing, meaning any changes made in the app do not automatically reflect on the client’s online account or vice versa.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 30 |
| 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.
Both ThinkMarkets and IronFX offer daily market commentary and provide forex news from highly-regarded sources like Bloomberg and Reuters. However, when it comes to technical analysis tools, ThinkMarkets lacks offerings from prominent companies like Autochartist and Trading Central, whereas IronFX provides tools from Trading Central, which may give it a slight edge for traders who rely on detailed analytics. On the other hand, ThinkMarkets sets itself apart by offering a sentiment-based trading tool, which displays the ratio of long and short positions across various instruments, unlike IronFX.
In terms of additional research tools, ThinkMarkets includes resources from Acuity Trading but does not integrate TipRanks, which is also missing from IronFX. Both brokers feature a comprehensive economic calendar to help traders anticipate global events. Despite ThinkMarkets securing a respectable 3.5-star rating for its research offerings, IronFX scores slightly higher with 4 stars. This aligns with their respective rankings on ForexBrokers.com, where ThinkMarkets is positioned at #50, while IronFX is significantly higher at #28, underscoring its superior research capabilities.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both ThinkMarkets and IronFX offer a variety of educational resources for beginner traders interested in forex and CFDs. Each broker provides at least 10 educational pieces, such as articles, videos, and archived webinars. ThinkMarkets stands out by offering online educational webinars every month and providing a comprehensive archive of these sessions for future reference. Additionally, ThinkMarkets offers a wide array of video lessons catering to both novice and seasoned traders, along with a valuable investor dictionary that defines more than 50 investing terms.
IronFX, while not offering monthly educational webinars like ThinkMarkets, maintains a searchable archive of past webinars along with educational materials and introductory videos. However, IronFX does not provide advanced educational videos for experienced traders. Both brokers have an investor dictionary with key investing terms, making learning more accessible. Interestingly, despite these differences, IronFX is rated slightly higher than ThinkMarkets for educational offerings, with a score of 4 stars compared to ThinkMarkets’ 3.5 stars. According to ForexBrokers.com, this contributes to IronFX ranking #44 for education, whereas ThinkMarkets is positioned at #52 out of 63 brokers.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 ThinkMarkets is better than IronFX. ThinkMarkets finished with an overall rank of #27, while IronFX finished with an overall rank of #48.
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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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 83 |
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Both ThinkMarkets and IronFX allow trading in cryptocurrency derivatives, yet neither platform offers options for purchasing actual delivered cryptocurrencies.
Both ThinkMarkets and IronFX offer Skrill, Visa or Mastercard, and bank wires for depositing or withdrawing funds, while neither provides ACH, SEPA, or 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 | ThinkMarkets | IronFX | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | IronFX | |
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| Mobile Trading Gallery (click to expand) | |||
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| Regulation | ThinkMarkets | IronFX | |
|---|---|---|---|
| Trust Score | 92 | 83 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 340 | |
| Forex Pairs (Total) | 46 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | ThinkMarkets | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 15 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | ThinkMarkets | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 94 | 30 | |
| 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 | ThinkMarkets | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | ThinkMarkets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
| Review |
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