Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs FXOpen, 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.
Established in 2010, ThinkMarkets has positioned itself as a highly trusted online trading platform with a strong foundation in regulation. With a Trust Score of 92 out of 99, ThinkMarkets holds five Tier-1 licenses, indicating a high level of credibility. Additionally, they have secured two Tier-2 licenses, further enhancing their trustworthiness. Although not publicly traded or a bank, ThinkMarkets' regulatory strength offers clients a considerable degree of confidence.
FXOpen, founded in 2003, offers traders a platform with an average risk Trust Score of 76. While it holds two Tier-1 licenses, it lacks Tier-2 licenses, which could be an important factor for potential traders to consider. Like ThinkMarkets, FXOpen is neither publicly traded nor a banking institution. These distinctions in regulatory licenses highlight key differences in the trust levels between the two brokers, with ThinkMarkets providing a more secure environment through its broader regulatory coverage.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Year Founded | 2010 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing the online brokers ThinkMarkets and FXOpen in terms of commissions and fees, both hold a solid ground with a 4-star rating out of five for this category. While specific average spread data for each broker is not readily available, these ratings reflect a generally satisfactory fee structure for traders.
ThinkMarkets is ranked 48th out of 62 brokers by ForexBrokers.com in the Commissions and Fees category. This suggests that while ThinkMarkets offers competitive pricing, there are numerous other brokers with potentially more attractive fee arrangements in the market.
In contrast, FXOpen is slightly ahead, ranking 45th out of 62 brokers in the same category. This marginally higher ranking indicates that FXOpen might offer a more appealing fee structure than ThinkMarkets, although it is essential to consider other features and services offered by these brokers when making a decision.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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 ThinkMarkets and FXOpen for their investment options, ThinkMarkets stands out with 4,000 tradeable symbols, offering a broad range that includes 46 forex pairs. By contrast, FXOpen provides only 87 tradeable symbols, including 25 forex pairs. Both brokers facilitate CFD and spot contract trading in forex, but neither allows clients to purchase actual U.S. exchange-traded securities. ThinkMarkets does, however, enable trading of international securities such as shares from the London Stock Exchange, an option not available with FXOpen. Additionally, both brokers offer copy trading and the ability to trade cryptocurrency derivatives, though neither supports the purchase of actual cryptocurrencies.
In terms of recognition and user ratings, ThinkMarkets earns a commendable 4.5 stars for its range of investments, placing it at rank #21 out of 62 brokers on ForexBrokers.com. FXOpen, on the other hand, rates 3 stars and sits at rank #61, reflecting a narrower array of investment options. These distinctions make ThinkMarkets a more popular choice for traders seeking a wider variety of investment opportunities.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 87 |
| Forex Pairs (Total) | 46 | 25 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing ThinkMarkets and FXOpen, both brokers offer a range of trading platforms and tools that cater to traders with diverse needs. Both provide simulated or demo trading accounts, allowing traders to practice without financial risk. ThinkMarkets boasts an edge with its proprietary platform, developed in-house, while FXOpen does not offer this feature. Both brokers offer Windows-based desktop platforms, as well as web-based platforms that allow for trading directly from a browser. For those utilizing copy trading, both brokers have this feature available. Importantly, each supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, although FXOpen additionally supports ZuluTrade, offering expanded copy trading capabilities that ThinkMarkets does not match.
Traders who rely on charting tools will find both brokers equipped with 15 drawing tools, and they also offer the ability to trade directly from stock charts. However, when it comes to watch lists, ThinkMarkets offers 15 columns or fields, providing more detailed data compared to FXOpen's 7 columns. This difference might be significant for those who prioritize comprehensive watch list features. In terms of overall performance in trading platforms and tools, both brokers receive a rating of 4 stars, yet ThinkMarkets ranks higher at #27 compared to FXOpen's #53 according to ForexBrokers.com. Thus, while both brokers offer similar baseline functionalities, ThinkMarkets might appeal more to those seeking proprietary technology and detailed watch list capabilities.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| 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 FXOpen both provide comprehensive mobile trading solutions for iPhone and Android users, offering features such as forex and stock price alerts, drawing tools for trendlines on charts, and the ability to view multiple time frames. However, a key difference lies in their technical charting capabilities. ThinkMarkets stands out with an impressive 94 technical studies available in its app, compared to FXOpen's 30. Both platforms allow users to create watchlists with real-time quotes; however, neither offers watchlist symbol syncing between mobile apps and online accounts.
While both brokers receive a four-star rating for their mobile trading apps, ThinkMarkets holds a stronger position in the ForexBrokers.com rankings, coming in at 20th place compared to FXOpen’s 54th. Another distinction is the automatic saving of chart drawings, a feature available with ThinkMarkets but not FXOpen. These differences highlight ThinkMarkets as a more feature-rich option for mobile traders who prioritize advanced charting tools and seamless app functionality.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both ThinkMarkets and FXOpen provide daily market commentary and access to forex news from reputable sources such as Bloomberg, Reuters, and Dow Jones. However, neither broker offers technical analysis tools from firms like Autochartist or Trading Central. Despite these similarities, ThinkMarkets sets itself apart by offering a sentiment-based trading tool to analyze long and short positions across currency pairs, although neither broker includes market research from TipRanks in their offerings. ThinkMarkets also features research tools from Acuity Trading, like the Signal Centre, which FXOpen does not.
For traders who rely on economic calendars, both brokers deliver global news event calendars. In terms of research ratings, ThinkMarkets scores 3.5 out of 5 stars, whereas FXOpen is rated at 3 stars. When it comes to ranking among other brokers within the research category, ThinkMarkets holds the 50th position out of 62, leading FXOpen which ranks last at 62nd. This comparison suggests that while both brokers have strengths in providing market updates, ThinkMarkets offers more tools to assist in trading decisions.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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, ThinkMarkets stands out compared to FXOpen, especially for beginners looking to understand trading. ThinkMarkets provides over 10 educational pieces that focus specifically on forex and CFDs, offering a variety of articles, videos, and archived webinars. FXOpen, on the other hand, falls short in this area, lacking the same breadth of educational content. In addition, ThinkMarkets hosts monthly client webinars that are educational, and also gives users access to a searchable archive of past webinars, making it easier for learners to revisit topics they are interested in. This is another feature FXOpen doesn't offer, limiting its ability to meet the needs of ongoing education.
For those starting out, ThinkMarkets delivers comprehensive beginner-level videos on trading topics and continues this support for more advanced traders with additional educational videos. FXOpen does not offer similar support in video format. Both platforms do provide an investor dictionary to help users with definitions of investing terms, but ThinkMarkets surpasses FXOpen in overall educational value. ThinkMarkets is rated 3.5 stars for education and ranks at 52 out of 62 brokers by ForexBrokers.com, compared to FXOpen, which is rated 3 stars and ranks at 58. This makes ThinkMarkets a more appealing choice for traders who value education as part of their trading journey.
| Feature |
ThinkMarkets
|
FXOpen
|
|---|---|---|
| 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 | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that ThinkMarkets is better than FXOpen. ThinkMarkets finished with an overall rank of #27, while FXOpen finished with an overall rank of #54.
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
|
FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 76 |
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While both ThinkMarkets and FXOpen do not offer the purchase of actual (delivered) cryptocurrency, they both provide the ability to trade cryptocurrency derivatives.
Both ThinkMarkets and FXOpen do not support ACH or SEPA transfers or PayPal for deposits or withdrawals, but they do offer Skrill, Visa or Mastercard, and bank wire transfer options for managing account funds.
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 | FXOpen | |
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| Trust Score | 92 | 76 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | FXOpen | |
|---|---|---|---|
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| Regulation | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Trust Score | 92 | 76 | |
| Year Founded | 2010 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 87 | |
| Forex Pairs (Total) | 46 | 25 | |
| 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). |
| Cost | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | ThinkMarkets | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | Yes |
| Major Forex Pairs | ThinkMarkets | FXOpen | |
|---|---|---|---|
| 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 | |
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| Overall | ThinkMarkets | FXOpen | |
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| Trust Score | 92 | 76 | |
| Winner | check_circle | ||
| Review |
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