Written by ForexBrokers.com
Is ThinkMarkets better than IronFX? In our analysis of 23 international regulators across 62 of the best forex brokers, ThinkMarkets is considered Trusted, with an overall Trust Score of 88 out of 99. IronFX is considered Trusted, with an overall Trust Score of 83 out of 99. Learn more about Trust Score.
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0 of 5| Overall Rating | ThinkMarkets | IronFX | |
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| Trust Score | 88 | 84 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | IronFX | |
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| Regulation | ThinkMarkets | IronFX | |
|---|---|---|---|
| Trust Score | 88 | 84 | |
| Year Founded | 2010 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| European Union Authorised (MiFID) | Yes | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 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 | |
| European Union Authorised (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) | No | 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 | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| 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 | |
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| 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Forex 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 | |
| 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 | |
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| 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 | 88 | 84 | |
| Winner | check_circle | ||
| Review |
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare ThinkMarkets vs IronFX.
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IronFX offers better pricing overall for traders.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. ThinkMarkets holds 5 global Tier-1 licenses, while IronFX holds 3. ThinkMarkets holds 1 global Tier-2 licenses, while IronFX holds 0. In our analysis of 23 international regulators across 50 brokers, ThinkMarkets (88) earned a higher Trust Score than IronFX (84).
To compare the trading platforms of both ThinkMarkets and IronFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, ThinkMarkets offers a better experience. With research, IronFX offers superior market research. Finally, we found ThinkMarkets to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both ThinkMarkets and IronFX offer MetaTrader 4 (MT4).ThinkMarkets and IronFX both offer copy trading.
IronFX provides traders 83 currency pairs (e.g., EUR/USD) compared to ThinkMarkets's 46 available pairs. Forex pairs aside, ThinkMarkets offers traders access to 4000 CFDs while IronFX has 340 available CFDs, a difference of 3660.
ThinkMarkets is not publicly traded and does not operate a bank. ThinkMarkets is authorised by five tier-1 regulators (Highly Trusted), one tier-2 regulator (Average Risk), zero tier-3 regulators (low trust), and two tier-4 regulators (High Risk). ThinkMarkets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Financial Markets Authority (FMA), Financial Conduct Authority (FCA), and the European Union Authorized (MiFID).
IronFX is not publicly traded and does not operate a bank. IronFX is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), zero tier-3 regulators (low trust), and one tier-4 regulator. IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), European Union Authorized (MiFID), and the Financial Conduct Authority (FCA).
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.
IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.
Overall winner: ThinkMarkets
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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