Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Plus500 vs ThinkMarkets.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. ThinkMarkets is a better option with a 4.00 star rating over Plus500's 3.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Plus500 and ThinkMarkets both are regulated in a major hub. Plus500 is a publicly traded company, ThinkMarkets isn't. How many currency pairs are available to trade? ThinkMarkets trails Plus500 by 27 total currency pairs (for example, EUR/USD), with Plus500 offering 60 and ThinkMarkets offering 33.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. ThinkMarkets makes Meta Trader available to clients, while Plus500 does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Plus500 trails ThinkMarkets by 31 total charting tools, with ThinkMarkets offering 31 and Plus500 offering 0. ThinkMarkets trails Plus500 by 52 total different indicators (for example, moving averages), with Plus500 offering 103 and ThinkMarkets offering 51.
Overall, ThinkMarkets boasts 4.00 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, both Plus500 and ThinkMarkets found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018.