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 |
ThinkMarkets and TopFX both offer competitive options for traders considering fees and commissions, with each broker receiving a respectable 4-star rating in this category. ThinkMarkets currently holds the #47 ranking out of 63 brokers as per ForexBrokers.com, while TopFX ranks slightly better at #40. Unfortunately, average spread data for ThinkMarkets isn't available, making a direct cost comparison a bit challenging.
Alternatively, TopFX provides flexibility with its two distinct account types, both available on MetaTrader and cTrader platforms. The ZERO account offers commission-free trades with average spreads of 1.03 pips for EUR/USD during July 2024. On the other hand, the RAW account charges a commission of 2.75 EUR per side, equating to 5.50 EUR per round-turn standard lot. With average spreads of 0.33 pips in the commission-based account for EUR/USD and a commission equivalent of 0.55 pips per round-turn, the overall cost comes to around 0.88 pips, aligning with industry averages.
For traders focused on costs, both brokers present solid choices. ThinkMarkets’ lack of average spread data may require potential clients to dig deeper into user feedback or test the platform first-hand. Meanwhile, TopFX’s two-tiered account structure allows traders to choose between a commission-based model with lower spreads or a commission-free arrangement with slightly higher spreads, catering to different trading needs right from the start.
| 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 and TopFX both offer forex trading via CFDs or spot contracts, catering to traders interested in currency markets. ThinkMarkets provides a notably larger selection of tradeable symbols, boasting 4,000 compared to TopFX's 655. In terms of forex pairs, however, TopFX outpaces ThinkMarkets, offering 60 pairs to ThinkMarkets' 46. While neither broker offers the ability to purchase exchange-traded securities on U.S. exchanges, ThinkMarkets grants access to international exchanges such as the London Stock Exchange, an option not available through TopFX. Both brokers offer options for cryptocurrency trading derivatives, though they do not allow for the purchase of actual cryptocurrencies.
For investors interested in copy trading, both ThinkMarkets and TopFX provide this feature. ThinkMarkets stands out with a higher rating of 4.5 stars for its range of investments, positioning it at #22 out of 63 brokers in this category, as ranked by ForexBrokers.com. On the other hand, TopFX earns a 3.5-star rating and ranks at #46. This comparison highlights ThinkMarkets' broader investment offerings and recognition in the industry, appealing to those seeking a diverse and accessible trading platform.
| 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.
When comparing trading platforms and tools, both ThinkMarkets and TopFX provide a variety of similar features yet differ in a few significant areas. ThinkMarkets stands out with its proprietary platform, in addition to offering popular platforms like MetaTrader 4 and MetaTrader 5, while TopFX supports MetaTrader 4 but does not offer MetaTrader 5 or a proprietary platform. Both brokers excel in accessibility with support for Windows-based desktop, web-based trading platforms, and simulated trading through free virtual demo accounts. They also offer the convenience of copy trading, but neither provides third-party services like DupliTrade or ZuluTrade.
For charting, ThinkMarkets and TopFX equally offer 15 drawing tools, enabling traders to annotate and analyze charts effectively. Nonetheless, ThinkMarkets provides more flexibility with 15 columns for watch lists compared to TopFX’s 7. Each broker allows trading directly from stock charts, enhancing user experience. Despite both earning a solid 4-star rating for their trading platforms and tools, ThinkMarkets is ranked higher at #28 by ForexBrokers.com compared to TopFX’s #45, indicating a slight edge in overall platform performance and options.
| 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.
When comparing the mobile trading apps of ThinkMarkets and TopFX, both brokers offer iPhone and Android applications that come equipped with stock and forex price alerts and the ability to draw trendlines on charts. Users can also enjoy drawing auto-saves and view charts in multiple timeframes, such as daily, weekly, or intraday. However, neither broker provides watchlist symbol syncing across devices, which means changes made on the mobile app will not update on the client’s online account automatically.
ThinkMarkets stands out with 94 technical studies for charting in its mobile app, offering significantly more options than TopFX, which provides 30. Both platforms allow users to create watchlists with real-time quotes. Rated four stars for their mobile apps, ThinkMarkets holds a stronger position, ranked as the 20th mobile broker out of 63 on ForexBrokers.com, compared to TopFX's 51st place ranking. This suggests that ThinkMarkets might provide a more comprehensive mobile trading experience for those seeking deeper charting tools and a higher-rated app.
| 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.
When comparing the market research offerings of ThinkMarkets and TopFX, it's clear both have distinct strengths. ThinkMarkets provides daily market commentary, an attractive feature missing from TopFX. Both brokers stay updated with forex news from top-tier sources like Bloomberg and Reuters, ensuring traders have access to important market events. However, when it comes to technical analysis and tools, TopFX takes the lead by offering resources from Autochartist and Trading Central, which are not available with ThinkMarkets. On the other hand, ThinkMarkets stands out by incorporating tools from Acuity Trading, such as Signal Centre, adding a beneficial dimension to their research capabilities.
In terms of sentiment-based trading tools, both brokers offer similar capabilities, allowing traders to gauge market sentiment effectively. Each platform provides an economic calendar, keeping traders informed about upcoming global news events. Despite their offerings, user ratings highlight some differences: ThinkMarkets receives a slightly higher research rating of 3.5 stars compared to TopFX's 3 stars. This slight edge is also reflected in their ForexBrokers.com rankings, where ThinkMarkets is positioned at #50 out of 63 brokers, while TopFX ranks at #60. Thus, ThinkMarkets might appeal more to those prioritizing market commentary and sentiment tools, whereas TopFX caters to traders seeking advanced analytical tools.
| 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 | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners entering the world of trading, ThinkMarkets stands out compared to TopFX. ThinkMarkets provides a well-rounded educational experience with a variety of resources like articles, videos, and webinars focusing on forex and CFDs. They host monthly online webinars and have an accessible archive of past sessions, making learning flexible and convenient for beginners. In addition, ThinkMarkets offers an extensive collection of beginner-focused and advanced educational videos. They further support new traders with an investor dictionary containing definitions for over 50 investing terms. This commitment to education earns them a 3.5-star rating from ForexBrokers.com, ranking 52nd out of 63 brokers in this category.
On the other hand, TopFX falls short in meeting the educational needs of novice traders. Lacking the same breadth of resources, TopFX does not provide the minimum number of educational materials such as articles or videos aimed at teaching forex or CFDs. Additionally, they do not offer online webinars, a database of past webinars, or an investor dictionary with key trading terms. While they hold a slightly lower education rating of 3 stars and rank 61st by ForexBrokers.com, TopFX may not be the ideal choice for beginners looking for comprehensive educational 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 |
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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) | No | No | |
| 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) | 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 | 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 | 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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