Written by ForexBrokers.com
In this head to head comparison of FXCM vs ThinkMarkets, 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.
FXCM and ThinkMarkets are both reputable online brokers recognized for their trustworthy services, each with unique strengths in regulatory compliance. FXCM has been in the trading business since 1999 and is publicly traded, which can be an appealing factor for potential clients. The broker prides itself on a ForexBrokers.com Trust Score of 95 out of 99, indicating a high level of reliability. FXCM operates under the regulations of 4 Tier-1 licenses and 2 Tier-2 licenses, ensuring stringent oversight and client protection.
ThinkMarkets, founded in 2010, is not publicly traded but still maintains a strong presence in the market. It holds a Trust Score of 92, suggesting a solid trust level with its clientele. The broker is under the regulations of 5 Tier-1 licenses and 2 Tier-2 licenses, offering a secure trading environment. Both FXCM and ThinkMarkets are not banks, which means they focus solely on providing brokerage services. Clients seeking a trusted and regulated broker have commendable choices in either FXCM or ThinkMarkets, depending on their specific preferences or needs.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1999 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When assessing the commissions and fees between FXCM and ThinkMarkets, both brokers receive a similar star rating of 4 out of 5 stars, suggesting competent fee structures. However, they differ significantly in terms of pricing details and overall ranking, particularly in the ForexBrokers.com ranking where FXCM is ranked #24 and ThinkMarkets is ranked #48 among 62 brokers.
FXCM's pricing for forex trading is somewhat above the industry average, particularly with its standard account spreads. In May 2024, the average spread on the EUR/USD was 0.78 for its EU, U.K., and Australia offerings and 1.38 for its St. Vincent and the Grenadines entity. For those utilizing its commission-based accounts, the spreads averaged 0.28 pips, excluding commissions. FXCM offers the Active Trader Rebate Program, not available in the U.K. or EU, which rewards high-volume traders with rebates ranging from $5 to $25 per million traded. Nonetheless, while FXCM provides competitive discounts under certain conditions, brokers like Tickmill and FP Markets might offer more appealing pricing for very active traders.
ThinkMarkets, on the other hand, does not provide specific average spread data, making direct comparison difficult. However, its lower ranking compared to FXCM in the Commissions and Fees category might indicate that FXCM could offer more detailed and transparent pricing options tailored to traders looking to optimize costs.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $50 |
| Average Spread EUR/USD - Standard | 0.78 | 1.1 |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
Both FXCM and ThinkMarkets cater to forex traders, offering forex trading as a CFD or spot contract. When it comes to the variety of tradeable symbols, FXCM provides access to 440 options, whereas ThinkMarkets leads the field with an impressive offering of 4000 symbols. In terms of forex pairs alone, ThinkMarkets again surpasses FXCM, offering 46 pairs compared to FXCM's 43. Investors interested in exchange-traded securities may find ThinkMarkets more appealing, as it allows trading on international exchanges, while FXCM does not. Both brokers offer copy trading capabilities, aiding investors who prefer to model their trades after successful traders.
For cryptocurrency enthusiasts, both FXCM and ThinkMarkets provide avenues to trade cryptocurrency derivatives, though neither allows purchasing actual cryptocurrencies. In rating for Range of Investments, FXCM receives 3.5 stars and is ranked #47 among 62 brokers. On the other hand, ThinkMarkets shines brighter, earning 4.5 stars and a #21 ranking, illustrating its broader spectrum of available trading options for investors.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 4000 |
| Forex Pairs (Total) | 43 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| 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 it comes to choosing a trading platform, both FXCM and ThinkMarkets offer a comprehensive suite of tools that cater to different trading needs. Both brokers provide access to simulated trading with their free demo accounts and offer proprietary platforms that ensure their clients have a unique trading experience. Traders can access these platforms on Windows-based desktops and directly through their web browsers, providing flexibility for various trading environments. For those interested in copy trading, both brokers offer this feature, but FXCM has an added advantage with ZuluTrade, while ThinkMarkets does not provide this service.
FXCM and ThinkMarkets both support MetaTrader 4, but only ThinkMarkets provides access to MetaTrader 5. This could be an important consideration for traders looking for the advanced features MT5 offers. While both brokers embrace charting capabilities with the ability to trade directly from stock charts, ThinkMarkets edges slightly ahead with 15 drawing tools compared to FXCM's 10. However, FXCM shines with its rating of five stars for trading platforms and tools, ranking #6 out of 62 brokers according to ForexBrokers.com. In contrast, ThinkMarkets, with a rating of four stars, is ranked at #27, indicating that FXCM might offer a slightly better trading environment in this category.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and ThinkMarkets provide comprehensive mobile trading options for iPhone and Android users, enabling easy access to financial markets on the go. While both apps offer essential features like price alerts and real-time quotes, FXCM leads when it comes to syncing watchlists across devices, ensuring seamless transitions between its mobile and online platforms. ThinkMarkets, however, stands out by offering a larger array of technical studies in its mobile app, providing traders with 94 options compared to FXCM's 59. Both applications support drawing trendlines and viewing charts across various time frames, from intraday to weekly, with auto-save functionality for chart drawings, enhancing the overall trading experience.
In terms of performance ratings, FXCM slightly edges out with a 4.5-star rating for its mobile trading apps, compared to ThinkMarkets' 4-star rating. This is further reflected in their rankings by ForexBrokers.com, placing FXCM at 16th and ThinkMarkets at 20th out of 62 brokers for mobile trading apps. While each app has its strengths, FXCM's ability to sync watchlists might appeal more to traders looking for integration between devices, whereas ThinkMarkets offers an extensive variety of technical studies for those prioritizing in-depth chart analysis.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 94 |
| 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.
FXCM and ThinkMarkets both provide valuable resources for traders seeking daily market insights and updates. Each broker offers daily market commentary and top-tier forex news from distinguished sources such as Bloomberg, Reuters, and Dow Jones. While neither broker incorporates tools from Autochartist, FXCM sets itself apart with tools from Trading Central for technical analysis, which ThinkMarkets lacks. Both platforms provide sentiment-based trading tools that display long or short position ratios across various instruments, enhancing traders' market perspectives.
In terms of unique offerings, FXCM includes market research data from TipRanks, which ThinkMarkets does not offer. On the other hand, ThinkMarkets utilizes Acuity Trading tools, providing resources like the Signal Centre for its users. Both brokers feature comprehensive economic calendars that track current and upcoming global news. FXCM's research capabilities are held in higher regard, with a 4.5-star rating and an #11 ranking out of 62 brokers by ForexBrokers.com. In comparison, ThinkMarkets receives a 3.5-star rating, placing at #50 in the same category.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both FXCM and ThinkMarkets excel in providing educational resources for beginners eager to delve into forex and CFDs trading. They each offer a comprehensive library with over ten educational articles, videos, and webinars focusing on essential forex and CFDs subjects. Both platforms host live educational webinars monthly and archive past sessions, ensuring that learners can access information at their convenience. Additionally, new traders will find beginner-friendly videos covering key trading concepts, alongside advanced content for seasoned traders, making both platforms a strong choice for comprehensive learning experiences.
When it comes to going the extra mile, FXCM slightly edges out ThinkMarkets, providing an investor dictionary with clear definitions of over 50 investing terms. This resourceful approach is reflected in their 4.5-star rating for educational offerings, compared to ThinkMarkets’ 3.5-star rating. Moreover, FXCM boasts a more impressive placement in ForexBrokers.com’s educational rankings, securing the 14th spot out of 62 brokers, whereas ThinkMarkets is positioned at number 52. This suggests that while both brokers are equipped to educate beginners, FXCM might offer a more structured and deeper learning experience.
| Feature |
FXCM
|
ThinkMarkets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FXCM is better than ThinkMarkets. FXCM finished with an overall rank of #15, while ThinkMarkets finished with an overall rank of #27.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 92 |
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Both FXCM and ThinkMarkets provide the ability to trade cryptocurrency derivatives but do not offer options for purchasing actual delivered cryptocurrency.
When comparing online brokers FXCM and ThinkMarkets, FXCM provides more flexibility in fund transactions with options for ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas ThinkMarkets supports Skrill, Visa, Mastercard, and bank wires but lacks ACH, SEPA, and PayPal facilities.
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 | FXCM | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | ThinkMarkets | |
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| Regulation | FXCM | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 95 | 92 | |
| Year Founded | 1999 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | FXCM | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| 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) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 4000 | |
| Forex Pairs (Total) | 43 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| 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 | FXCM | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 15 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | ThinkMarkets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 94 | |
| 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 | FXCM | ThinkMarkets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | ThinkMarkets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | ThinkMarkets | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | FXCM | ThinkMarkets | |
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| Trust Score | 95 | 92 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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