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 in terms of commissions and fees, both brokers have strengths and features worth considering. ThinkMarkets boasts a competitive rating of 4 out of 5 stars for their commissions and fees. However, specific data on average spreads is not available, making it difficult to provide exact figures on cost-effectiveness.
IronFX, also rated 4 out of 5 stars, has room for improvement, particularly in their pricing strategies. The standard variable spread account lists a typical spread of 1.8 pips but varies across different account types. For instance, the zero fixed-spread account initially offers tighter spreads at zero but includes an $18 per lot commission and spreads widen to 3 pips overnight. IronFX's pricing may appear higher than the industry average, impacting cost efficiency for traders.
In a ranking comparison by ForexBrokers.com, ThinkMarkets is positioned at 48 out of 62 brokers for their commissions and fees, whereas IronFX holds the 47th spot. While both brokers have similar star ratings, traders may find slight variations in their offerings based on account structure and pricing models.
| 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 ThinkMarkets and IronFX for their investment offerings, ThinkMarkets emerges with a broader portfolio. ThinkMarkets provides access to an impressive 4,000 tradeable symbols, while IronFX offers 340. Both brokers facilitate forex trading through contracts for difference (CFDs) or spot contracts. While ThinkMarkets offers 46 forex pairs, IronFX provides more variety with 83 forex pairs. Although neither broker allows the purchase of U.S. exchange-traded securities, ThinkMarkets does offer the opportunity to invest in international exchange-traded securities, unlike IronFX.
Both brokers offer services like copy trading and the ability to trade cryptocurrency derivatives, though neither provides actual cryptocurrency purchases. In terms of ratings, ThinkMarkets scores a commendable 4.5 stars for its range of investments, ranking 21st out of 62 brokers according to ForexBrokers.com. IronFX, on the other hand, receives a 3.5-star rating, ranking it 51st for investment variety. This comparison highlights ThinkMarkets as the stronger choice for investors seeking a wide range of investment options beyond just forex trading.
| 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 a range of online platforms, catering to a variety of needs. Both brokers offer free virtual demo accounts, allowing users to practice trading with simulated funds before committing real money. While both brokers provide popular platforms like MetaTrader 4, only ThinkMarkets includes the updated MetaTrader 5, giving it an edge in terms of platform offerings. Additionally, ThinkMarkets offers a proprietary platform developed in-house, while IronFX relies on established third-party platforms, lacking a bespoke solution. When it comes to web-based trading, both brokers have browser access, along with downloadable options for Windows users. For social traders, both brokers include copy trading capabilities. However, neither ThinkMarkets nor IronFX includes integration with DupliTrade or ZuluTrade.
In terms of charting tools, both ThinkMarkets and IronFX provide traders with 15 drawing tools, enabling detailed technical analysis. ThinkMarkets offers superior customization with 15 fields for watchlists compared to IronFX's 7, allowing for more comprehensive tracking of market movements. Traders can execute trades directly from stock charts with both brokers, offering seamless interaction with the markets. Despite these similarities, ThinkMarkets is rated higher at 4 stars compared to IronFX's 3.5 stars in terms of trading platforms and tools. Additionally, ThinkMarkets ranks 28th out of 62 brokers on ForexBrokers.com, significantly higher than IronFX, which is positioned at 60th, highlighting ThinkMarkets as the broker with stronger overall offerings in trading tools and platform features.
| 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.
When choosing between ThinkMarkets and IronFX for mobile trading, both platforms provide apps for iPhone and Android users, ensuring flexible access on the go. These apps are equipped with essential features like stock and forex price alerts, trendline drawing capabilities, and the ability to view multiple time frames on charts. Additionally, users can create watchlists with real-time quotes on both apps, which enhances their trading experience. However, it is important to note that neither app offers watchlist symbol syncing, which means your watchlist changes do not automatically update across devices.
In terms of technical analysis tools, ThinkMarkets comes out ahead with 94 technical studies available on its mobile app, compared to IronFX's 30 studies. ThinkMarkets also edges out IronFX in app ratings and rankings, boasting a 4-star rating and a #20 ranking by ForexBrokers.com, while IronFX has a 3.5-star rating and sits at #61 in the same category. This makes ThinkMarkets a more appealing choice for those prioritizing advanced charting tools and a higher-rated user experience in mobile trading.
| 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.
When comparing the market research features of ThinkMarkets and IronFX, both platforms provide daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. While neither broker offers tools from Autochartist, IronFX stands out by providing technical analysis tools from Trading Central, a feature not available on ThinkMarkets. On the other hand, ThinkMarkets offers a sentiment-based trading tool to analyze the ratio of long or short positions in the market, a tool that IronFX does not offer. Additionally, ThinkMarkets provides research tools from Acuity Trading, such as Signal Centre, whereas IronFX does not include this feature in its offerings.
Both brokers provide an economic calendar to track global news events. Despite these offerings, IronFX scores higher for research with a 4-star rating compared to ThinkMarkets' 3.5-star rating. Furthermore, according to ForexBrokers.com, IronFX ranks #28 out of 62 brokers in the research category, outperforming ThinkMarkets, which ranks at #50. This suggests that while both brokers have strong research features, IronFX may have a slight edge in this area based on ratings and rankings.
| 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.
When comparing the educational resources available for beginners at ThinkMarkets and IronFX, both brokers provide a rich variety of forex and CFD educational content. ThinkMarkets offers over ten educational pieces, such as articles and videos, as does IronFX. However, a key difference is in their approach to webinars. ThinkMarkets hosts online educational client webinars at least once a month, making it a great option for learners who benefit from live interaction. Moreover, both platforms offer a searchable archive of past webinars, giving traders the chance to learn at their own pace.
For those eager to dive into trading topics, both brokers provide a comprehensive library of over ten beginner-focused videos. However, ThinkMarkets continues to support its users' growth with advanced trading videos, a resource that IronFX lacks. Each broker also offers an investor dictionary with more than 50 terms, ensuring users can easily grasp key concepts. Despite these features, IronFX receives a slightly higher education rating of 4 stars compared to ThinkMarkets' 3.5 stars. In terms of overall ranking by ForexBrokers.com, IronFX stands at #44, while ThinkMarkets is positioned at #52 out of 62 brokers in the Education category.
| 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 62 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
|
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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| 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 | |
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| Overall | ThinkMarkets | IronFX | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
| Review |
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