ThinkMarkets vs OctaFX 2023

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).

OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), zero Tier-3 regulators (low trust), and zero Tier-4 regulators (High Risk). OctaFX is authorised by the following tier-1 regulators: European Union via MiFID.

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.

OctaFX offers a basic, low-cost MetaTrader platform experience alongside its social copy-trading platform.

To open a forex trading account with ThinkMarkets, you'll need to make an initial minimum deposit of $0.

ThinkMarkets requires a minimum deposit of $25 before you can open an account and start trading forex.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both ThinkMarkets and OctaFX offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that OctaFX offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that ThinkMarkets holds 5 global Tier-1 licenses, while OctaFX holds 1. Both ThinkMarkets and OctaFX hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that ThinkMarkets (88) earned a higher Trust Score than OctaFX (70).

To compare the trading platforms of both ThinkMarkets and OctaFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, OctaFX offers a better experience. With research, OctaFX offers superior market research. Finally, we found OctaFX to provide better mobile trading apps.

Here’s what trading platforms are available at ThinkMarkets:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at OctaFX:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

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The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both ThinkMarkets and OctaFX offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. ThinkMarkets and OctaFX both offer copy trading.

ThinkMarkets provides traders 46 currency pairs (e.g., EUR/USD) compared to OctaFX's 40 available pairs. If you are interested in trading CFDs, ThinkMarkets offers traders access to 4000 CFDs, while OctaFX offers access to 229 CFDs; so ThinkMarkets offers 3771 more CFDs than OctaFX.

We found in our testing that OctaFX offers a more diverse selection of investment options than ThinkMarkets, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Cryptocurrency (Physical).