Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA, established in 1996, and ThinkMarkets, launched in 2010, are both reputable online brokers in the trading industry. Neither firm is publicly traded nor operates as a bank. OANDA holds a higher number of Tier-1 licenses, with seven, compared to ThinkMarkets' five, indicating a strong commitment to regulatory standards. Furthermore, OANDA has a Trust Score of 93 according to ForexBrokers.com, slightly outperforming ThinkMarkets' score of 92, making both brokers highly trustworthy choices for online trading.
ThinkMarkets possesses two Tier-2 licenses, reflecting an additional level of compliance and trust, whereas OANDA holds none. These regulatory credentials highlight the ongoing dedication both brokers have to meeting industry standards and maintaining trader confidence. Despite these differences, both remain reliable and secure trading platforms for clients seeking a stable and regulated environment.
| Feature |
OANDA
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1996 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing the commissions and fees of online brokers OANDA and ThinkMarkets, both platforms offer competitive features, though with some differences that traders should consider. OANDA is known for its automated execution, but its forex trading costs are generally higher due to hefty spreads, even with its core pricing option. Despite this, OANDA's core pricing offers lower spreads at a cost of $5 per $100,000 worth of currency traded, making it a slightly better option than its commission-free structure when the total costs are calculated. On the other hand, ThinkMarkets does not provide average spread data, limiting a direct cost comparison.
OANDA provides a flexible trading experience by allowing trades as small as 1 unit, or 0.001 micro lots, which can be quite appealing for traders looking to manage their investments more conservatively. Additionally, OANDA's Elite Trader program benefits high-volume traders with rebates ranging from $5 to $17 per million traded, alongside other perks such as TradingView subscription reimbursements. Although ThinkMarkets lacks published average spread data, both platforms strive for transparency, which helps traders make informed decisions.
In terms of ratings and rankings, both brokers receive 4 out of 5 stars for commissions and fees. However, when placed against 62 other brokers, OANDA takes the 34th spot, while ThinkMarkets is ranked 48th by ForexBrokers.com. These rankings suggest that OANDA might have a slight edge in terms of its offerings and pricing transparency, but both brokers are fairly evenly matched overall in their fees and commissions structure.
| Feature |
OANDA
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.61 | 1.1 |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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 OANDA to ThinkMarkets in terms of their range of investments, both brokers offer forex trading as either a CFD or spot contract. OANDA provides a selection of 3,928 tradeable symbols, slightly fewer than ThinkMarkets' 4,000 options. However, OANDA leads with 68 tradeable forex pairs compared to ThinkMarkets' 46, giving forex traders more choices with OANDA. Despite this, neither broker offers exchange-traded securities on U.S. exchanges. ThinkMarkets, however, does allow trading of international exchange securities, unlike OANDA.
Both OANDA and ThinkMarkets support copy trading, catering to those interested in mimicking the trades of experienced investors. Cryptocurrency enthusiasts will find OANDA appealing for its ability to buy actual cryptocurrencies, a feature absent in ThinkMarkets, which focuses solely on cryptocurrency derivatives. In terms of investment range ratings, OANDA scores 4 stars, while ThinkMarkets slightly edges ahead with 4.5 stars, reflecting its broader offerings. This is consistent with their rankings by ForexBrokers.com, where ThinkMarkets is positioned higher, recognizing its greater diversity in investment options.
| Feature |
OANDA
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 4000 |
| Forex Pairs (Total) | 68 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | 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.
In the realm of trading platforms and tools, both OANDA and ThinkMarkets offer robust offerings designed to cater to the needs of traders. Each broker provides access to popular platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside their own proprietary platforms, ensuring users have versatile options for trading. They both facilitate simulated trading with free virtual demo accounts, and their platforms are accessible through Windows-based desktop downloads and web browsers. Additionally, copy trading is supported by both brokers, although neither offers integration with DupliTrade or ZuluTrade systems.
Despite similarities, subtle differences distinguish their charting capabilities and customizations. OANDA stands out with an impressive 431 drawing tools available for charting, while ThinkMarkets offers 15. When managing watch lists, ThinkMarkets allows for a richer setup with 15 columns compared to OANDA's six. Both brokers support trading directly from stock charts, enhancing user efficiency. While both OANDA and ThinkMarkets share a commendable 4-star rating for their trading platforms and tools, OANDA is ranked higher at 15th place by ForexBrokers.com out of 62 brokers, compared to ThinkMarkets' 28th place.
| Feature |
OANDA
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and ThinkMarkets both offer mobile trading apps compatible with iPhones and Android devices, providing users with convenient on-the-go access to forex markets. Both apps feature stock and forex price alerts and the ability to create watchlists with real-time quotes. However, neither app supports watchlist symbol syncing across devices. Where they diverge is in technical studies: OANDA offers 30 while ThinkMarkets provides a broader selection with 94. Both apps allow users to draw trendlines and easily switch between multiple time frames, and they automatically save chart drawings for your convenience.
In terms of user experience and recognition, OANDA takes the upper hand, receiving a 5-star rating for its mobile trading app, ranking 7th out of 62 brokers by ForexBrokers.com. In comparison, ThinkMarkets, which is rated 4 stars, holds the 20th position out of 62 brokers. For traders seeking a feature-rich experience, ThinkMarkets excels with its extensive array of technical studies. However, for a higher-rated app with top-tier industry recognition, OANDA may be the preferred choice.
| Feature |
OANDA
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
When comparing the market research offerings of OANDA and ThinkMarkets, both brokers provide daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters, ensuring traders have access to vital market information. OANDA stands out with its inclusion of Autochartist for technical analysis, a resource not offered by ThinkMarkets. However, ThinkMarkets brings a different edge by featuring research tools from Acuity Trading, which aren't available with OANDA. Both platforms offer sentiment-based trading tools and maintain comprehensive economic calendars for global market insights.
OANDA's research quality is highlighted by a five-star rating and a commendable 5th place ranking out of 62 brokers on ForexBrokers.com, making it a top choice for those seeking detailed market analysis. In contrast, ThinkMarkets is rated at 3.5 stars and ranks 50th, suggesting there is room for improvement in this area. Despite differences in their research toolkits, both brokers offer a reliable foundation for traders to make informed decisions.
| Feature |
OANDA
|
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 | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners in forex and CFDs trading, both OANDA and ThinkMarkets provide a solid base. Each offers a collection of over ten educational materials, ranging from articles and videos to archived webinars. For those who learn best through interactive sessions, both platforms host regular online webinars each month and maintain comprehensive archives for future reference. Whether you're starting out or looking to refine your skills, you'll find beginner-friendly videos and more advanced content catered to experienced traders on both OANDA and ThinkMarkets.
However, OANDA distinguishes itself with a five-star rating for education compared to ThinkMarkets' 3.5 stars. It earns a higher ranking in educational offerings, coming in at #22 out of 62 brokers as rated by ForexBrokers.com, while ThinkMarkets stands at #52. Both platforms provide an investor dictionary with over 50 investing terms, helping to decode complex jargon. Despite both brokers covering a broad spectrum of educational needs, OANDA's offerings are recognized as more comprehensive and accessible to newcomers.
| Feature |
OANDA
|
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 62 of the best forex brokers, our research and account testing finds that OANDA is better than ThinkMarkets. OANDA finished with an overall rank of #12, while ThinkMarkets finished with an overall rank of #27.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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ThinkMarkets
|
|---|---|---|
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| Trust Score | 93 | 92 |
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OANDA offers the ability to purchase actual delivered cryptocurrency as well as cryptocurrency derivatives, whereas ThinkMarkets provides only cryptocurrency derivatives without the option for actual delivered cryptocurrency.
OANDA stands out as an online broker by providing a wider array of options for depositing and withdrawing funds, including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas ThinkMarkets offers Skrill, Visa, Mastercard, and bank wires, 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 | OANDA | ThinkMarkets | |
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| Trust Score | 93 | 92 | |
| Winner | check_circle | ||
| Review | OANDA Review |
| Broker Screenshots | OANDA | ThinkMarkets | |
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| Regulation | OANDA | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 93 | 92 | |
| Year Founded | 1996 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | OANDA | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 4000 | |
| Forex Pairs (Total) | 68 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | 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 | OANDA | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.1 | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 15 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | ThinkMarkets | |
|---|---|---|---|
| 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 | 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 | OANDA | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review |
| Overall | OANDA | ThinkMarkets | |
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| Trust Score | 93 | 92 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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