Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs TopFX, 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 TopFX, both established in 2010, provide online brokerage services with distinct regulatory profiles. ThinkMarkets demonstrates a strong position in trust with a ForexBrokers.com Trust Score of 92 out of 99, thanks to its five Tier-1 licenses and two Tier-2 licenses. These high-trust licenses contribute significantly to its credibility among investors. Meanwhile, TopFX holds one Tier-1 license but lacks Tier-2 licenses, resulting in a lower Trust Score of 67, indicating a higher risk level according to ForexBrokers.com ratings.
Neither ThinkMarkets nor TopFX is a publicly traded company or operates as a bank, which can influence investor perception regarding transparency and security. However, ThinkMarkets’ superior regulatory status makes it a more appealing choice for those seeking a broker with a high level of trust and security. In contrast, TopFX's limited licensing framework suggests potential investors should carefully consider the associated risks.
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| Year Founded | 2010 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing commissions and fees, both ThinkMarkets and TopFX earn 4 out of 5 stars from ForexBrokers.com. However, TopFX ranks higher at #41 out of 63 brokers for this category, while ThinkMarkets ranks #48. A key difference is data transparency: ThinkMarkets does not publish average spread data, which makes like-for-like cost comparisons harder.
TopFX offers two pricing options across MetaTrader and cTrader. The RAW account is commission-based, charging 2.75 EUR per side (5.50 EUR per round turn per standard lot). In July 2024, the RAW account’s average spread on EUR/USD was 0.33 pips; adding the commission equivalent of about 0.55 pips per round turn brings the estimated all-in cost to roughly 0.88 pips—around the industry average. The ZERO account is spread-only and commission-free, with a higher average spread of 1.03 pips on EUR/USD for July 2024. The minimum deposit depends on your chosen payment method.
ThinkMarkets holds a 4 out of 5 star rating and is ranked #48 out of 63 for Commissions and Fees. Because average spread data is not available, traders should review live quotes and account disclosures to understand likely trading costs before choosing between account types or platforms.
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | 1.1 | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
ThinkMarkets offers a wider overall range of investments, with about 4,000 tradeable symbols compared with TopFX’s 655. For forex, both brokers support trading via CFDs/spot, but TopFX lists more currency pairs (60 vs. ThinkMarkets’ 46). Both provide copy trading and let you speculate on cryptocurrencies through derivatives, though neither lets you buy actual crypto. In expert assessments of range of investments, ThinkMarkets earns 4.5/5 stars and ranks 24th out of 63 brokers, while TopFX scores 3.5/5 stars and ranks 47th.
When it comes to exchange-traded securities (not CFDs), neither broker offers access to U.S. shares like Apple. However, ThinkMarkets stands out by also offering international exchange-traded shares (for example, listings such as Vodafone on the London Stock Exchange), while TopFX does not. In short, ThinkMarkets suits traders who want more total instruments and access to international stocks, whereas TopFX appeals to those prioritizing a larger list of forex pairs.
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 655 |
| Forex Pairs (Total) | 46 | 60 |
| 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 TopFX both make it easy to get started with a free demo account and offer web and Windows desktop platforms, copy trading, and MetaTrader 4 (MT4). The big differences: ThinkMarkets also has its own in-house platform and supports MetaTrader 5 (MT5), while TopFX does not offer a proprietary platform and doesn’t support MT5. Neither broker connects with DupliTrade or ZuluTrade.
For charting, both brokers let you place trades directly from charts and include 15 drawing tools. Watchlists are more detailed at ThinkMarkets, with up to 15 columns versus 7 at TopFX, which can make tracking markets easier. While both earn 4 stars for Trading Platforms and Tools, ForexBrokers.com ranks ThinkMarkets higher in this category (#28 of 63) than TopFX (#46 of 63).
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| 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.
ThinkMarkets and TopFX both offer mobile trading apps for iPhone and Android, with essential tools traders expect. Each app supports price alerts, real-time quote watchlists, multiple chart time frames, trendline drawing, and auto-saved chart annotations. One limitation shared by both: watchlists created on mobile do not sync with the web platform.
Where these apps differ is charting depth. ThinkMarkets includes 94 technical studies, while TopFX has 30, giving ThinkMarkets more built-in indicators for analysis. Both earned 4 stars for Mobile Trading Apps, yet ForexBrokers.com ranks ThinkMarkets higher at #20 out of 63 brokers compared with TopFX at #52. If you want more indicators and a higher-ranked app experience, ThinkMarkets stands out; if you only need core alerts and charting on iPhone or Android, both apps do the job.
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| 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.
If you’re comparing ThinkMarkets vs. TopFX for market research, ThinkMarkets provides daily market commentary while TopFX does not. Both brokers deliver forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, and each offers an economic calendar to track upcoming events. For trader sentiment, both include tools showing the ratio of long and short positions.
When it comes to third-party research tools, TopFX integrates Autochartist and Trading Central, while ThinkMarkets does not offer those two. ThinkMarkets does include tools from Acuity Trading (e.g., Signal Centre); TipRanks is not offered. For TopFX, availability of TipRanks and Acuity Trading is not specified. Overall, ForexBrokers.com rates ThinkMarkets 3.5/5 for Research (ranked 51st of 63), compared to TopFX at 3/5 (ranked 61st of 63).
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing trading education at ThinkMarkets and TopFX, ThinkMarkets delivers far more to help you learn forex and CFDs. It provides at least 10 educational pieces, hosts monthly client webinars, and keeps a searchable webinar archive. You also get 10+ beginner videos, 10+ advanced videos, and an investor dictionary with 50+ terms. TopFX does not meet these benchmarks: it lacks a library of 10+ forex/CFD lessons, does not run monthly educational webinars, has no searchable webinar archive, offers fewer than 10 beginner and advanced videos, and does not provide a large investor dictionary.
In independent ratings, ThinkMarkets earns 3.5 out of 5 stars for Education and ranks 52nd out of 63 brokers at ForexBrokers.com, while TopFX scores 3 out of 5 stars and ranks 62nd. If you want structured video lessons, regular webinars, and on-demand learning tools, ThinkMarkets is the stronger pick; TopFX may suit traders who plan to learn elsewhere and only need basic platform support.
| Feature |
ThinkMarkets
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 TopFX. ThinkMarkets finished with an overall rank of #27, while TopFX finished with an overall rank of #62.
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
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 67 |
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Both ThinkMarkets and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Comparing ThinkMarkets and TopFX, both brokers support Skrill, Visa, Mastercard, and bank wires for deposits and withdrawals; however, while neither offers ACH or SEPA transfers, TopFX uniquely provides PayPal as an additional option.
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 | TopFX | |
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| Trust Score | 92 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
| Broker Screenshots | ThinkMarkets | TopFX | |
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| Regulation | ThinkMarkets | TopFX | |
|---|---|---|---|
| Trust Score | 92 | 67 | |
| 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 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No | |
| 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 | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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) |
| Investments | ThinkMarkets | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 655 | |
| Forex Pairs (Total) | 46 | 60 | |
| 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 | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | TopFX | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | ThinkMarkets | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | ThinkMarkets | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | ThinkMarkets | TopFX | |
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| Trust Score | 92 | 67 | |
| Winner | check_circle | ||
| Review | TopFX Review |
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