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 ThinkMarkets and IronFX on commissions and fees, both brokers boast a 4-star rating, reflecting competitive offerings. However, specific differences in their pricing structures might influence your choice. ThinkMarkets does not provide average spread data, making it challenging to gauge their fee structure at a glance, while IronFX presents detailed spread information for various account types.
IronFX's pricing has room for improvement as its Standard variable spread account lists a typical spread of 1.8 pips, slightly higher than the industry average. For those using the zero fixed-spread account, IronFX offers a starting spread of zero with a $18 commission per lot, but these spreads can widen to 3 pips overnight. These conditions suggest varying costs depending on the account type and trading hours.
Despite sharing the same star rating, IronFX is ranked 47th out of 63 brokers in the Commissions and Fees category by ForexBrokers.com, slightly above ThinkMarkets, which is ranked 48th. This close ranking indicates that while both brokers are competitive, potential clients should consider specific fee details, such as IronFX's spread variations, to determine which may better suit their trading needs.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $50 | $50 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | ||
| Bank Wire (Deposit/Withdraw) |
Dive deeper: Best Low Spread Forex Brokers.
ThinkMarkets vs IronFX: When it comes to the range of investments, ThinkMarkets lists around 4,000 tradeable symbols, while IronFX offers about 340. For forex, IronFX has more pairs (83) than ThinkMarkets (46), and both let you trade forex as CFDs or spot. Neither broker offers U.S. exchange-traded shares (not CFDs), but ThinkMarkets does provide access to international exchange-traded shares, whereas IronFX does not.
Both brokers support copy trading and cryptocurrency via CFDs, but neither allows buying actual crypto. Overall, ThinkMarkets is rated 4.5/5 stars and ranks 24th out of 63 brokers for Range of Investments on ForexBrokers.com, while IronFX scores 3.5/5 stars and ranks 52nd.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 340 |
| Forex Pairs (Total) | 46 | 83 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Comparing ThinkMarkets vs IronFX for trading platforms and tools: both brokers provide free demo accounts, copy trading, and the ability to place trades directly from charts. Each offers Windows desktop and web-based platforms, plus MetaTrader 4 (MT4). The key difference is platform choice: ThinkMarkets also delivers its own proprietary platform and supports MetaTrader 5 (MT5), while IronFX does not have an in-house platform and does not support MT5.
On ratings, ThinkMarkets scores 4 stars for Trading Platforms and Tools and ranks #28 out of 63 brokers on ForexBrokers.com. IronFX earns 3.5 stars and ranks #62. If you want MT5 and an extra in-house platform option, ThinkMarkets has the edge; if you’re comfortable with an MT4-focused setup, IronFX covers the essentials.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing the mobile trading apps from ThinkMarkets and IronFX, both brokers offer iPhone and Android apps with price alerts. Each app lets you draw trendlines on charts and will auto-save your drawings. The standout difference is charting depth: ThinkMarkets includes 94 technical studies, while IronFX offers 30. If you rely on a wide range of indicators, ThinkMarkets provides more choices; IronFX covers the essentials.
Ratings and rankings add more context. ThinkMarkets earns 4 stars and ranks #20 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while IronFX holds 3.5 stars and ranks #63. Note that neither app syncs watchlist symbols between mobile and the web platform, so lists must be managed separately. For indicator variety and overall app score, ThinkMarkets has the edge; for basic alerts and chart tools on iPhone and Android, both get the job done.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
ThinkMarkets and IronFX both cover the essentials for market research: daily market commentary, real-time forex news from top-tier sources such as Bloomberg and Reuters, and an economic calendar. Neither broker integrates Autochartist. Their toolsets diverge from there: IronFX adds Trading Central for technical and fundamental insights, while ThinkMarkets skips Trading Central but includes a sentiment tool that shows long-versus-short positioning and offers Acuity Trading tools (such as Signal Centre). IronFX does not list a sentiment tool, and its support for TipRanks or Acuity Trading isn’t specified. ThinkMarkets does not offer TipRanks.
In independent ratings, IronFX has the edge with 4 stars and a #29 research ranking out of 63 brokers at ForexBrokers.com, while ThinkMarkets earns 3.5 stars and ranks #51. Choose IronFX if you want Trading Central paired with daily news and commentary; pick ThinkMarkets if a built-in sentiment view and Acuity-powered signals better fit your trading style.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Acuity Trading | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you’re new to trading, both ThinkMarkets and IronFX provide forex and CFD education that meets the 10-piece minimum, and each offers at least 10 beginner-friendly videos. In overall education ratings, IronFX scores 4 out of 5 stars and ranks 44th out of 63 brokers, while ThinkMarkets scores 3.5 out of 5 stars and ranks 52nd.
Where they differ matters for learning style. ThinkMarkets runs client webinars at least once a month and includes at least 10 advanced videos for when you’re ready to move beyond the basics. IronFX does not host monthly educational webinars and doesn’t meet the same advanced-video threshold, though its beginner video library is strong. Choose ThinkMarkets if you want live sessions and a clear path into advanced topics; pick IronFX if you prefer a straightforward set of beginner videos and a slightly higher overall education score.
| Feature |
ThinkMarkets
|
IronFX
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 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
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| Trust Score | 92 | 83 |
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ThinkMarkets vs IronFX: neither broker offers buying actual (delivered) cryptocurrency, but both provide cryptocurrency CFD trading.
Comparing online brokers ThinkMarkets and IronFX, both lack ACH/SEPA transfers for deposits and withdrawals, and the provided details do not specify support for PayPal, Skrill, Visa/Mastercard, or bank wire methods.
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 | |
|---|---|---|---|
| Broker Gallery (click to expand) |
| 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) | |||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | ThinkMarkets | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 340 | |
| Forex Pairs (Total) | 46 | 83 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 account | 1.1 | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $50 | $50 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | |||
| Bank Wire (Deposit/Withdraw) | |||
| Non-wire bank transfer | No | No |
| Trading Platforms | ThinkMarkets | IronFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | ThinkMarkets | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 94 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | ThinkMarkets | IronFX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | IronFX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | ThinkMarkets | IronFX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review |
| Overall | ThinkMarkets | IronFX | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
| Review |
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