Written by ForexBrokers.com
In this head to head comparison of ThinkMarkets vs iFOREX, 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 iFOREX are two online brokers that differ significantly in terms of their trust and regulatory standing. Founded in 2010, ThinkMarkets is a relatively newer player in the financial market. Despite this, it holds 5 Tier-1 licenses, which are highly trusted, and 2 Tier-2 licenses according to ForexBrokers.com. ThinkMarkets has a Trust Score of 92 out of 99, placing it in the category of highly trusted brokers. It is not publicly traded and does not operate as a bank, which is similar to iFOREX.
Founded in 1996, iFOREX has a longer history but has a slightly less favorable regulatory backing with only 1 Tier-1 license and no Tier-2 licenses. It holds an average-risk Trust Score of 75 out of 99 as per ForexBrokers.com. Like ThinkMarkets, iFOREX is not publicly traded and is not a banking institution. When comparing these brokers, ThinkMarkets stands out with a higher trust rating and more regulatory approvals, hinting at a stronger position in terms of safety and reliability for potential investors.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Year Founded | 2010 | 1996 |
| 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 it comes to commissions and fees, ThinkMarkets and iFOREX offer different experiences for traders looking to maximize their investments. ThinkMarkets shines with a solid four-star rating, placing it at the 48th rank among 62 brokers as reviewed by ForexBrokers.com. iFOREX, while also a competitor in the field, garners a three-star rating and sits at the 60th position, indicating there might be room for improvement in its fee structure.
While specific average spread data is unavailable for both brokers, the star ratings and rankings suggest that ThinkMarkets might provide a more competitive fee structure compared to iFOREX. This can be an appealing factor for traders prioritizing cost-efficiency in their trading activities.
Ultimately, choosing between ThinkMarkets and iFOREX will depend on individual priorities and preferences. Consider what other features are most important to your trading style, but if costs are a key factor, ThinkMarkets appears to offer a more favorable setup.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| 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 | 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 iFOREX both provide forex trading as CFDs, catering to traders looking for this investment option. ThinkMarkets impresses with a wide array of 4,000 tradeable symbols, allowing clients to diversify into numerous assets. In comparison, iFOREX offers a more limited selection of 750 symbols. Interestingly, for those focused on forex, iFOREX provides 88 tradeable forex pairs, exceeding ThinkMarkets' 46 pairs, making it a strong contender for forex-focused investors. However, if you're looking to trade exchange-traded securities on international exchanges, ThinkMarkets has the edge, offering a chance to purchase stocks like Vodafone on the London Stock Exchange, which is not available with iFOREX.
Cryptocurrency enthusiasts will find that neither platform allows the buying of real cryptocurrencies, though both offer the opportunity to invest in derivatives. ThinkMarkets further differentiates itself by providing copy trading, a feature that iFOREX lacks, making it an appealing choice for those interested in mirroring successful trades. In terms of recognition, ThinkMarkets holds a higher ranking for its range of investments, rated 4.5 stars and ranked 21st out of 62 brokers, compared to iFOREX's 3.5 stars and 41st position. This comparison underscores ThinkMarkets as a well-rounded choice for a broader investment experience.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4000 | 750 |
| Forex Pairs (Total) | 46 | 88 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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 the trading platforms and tools of ThinkMarkets and iFOREX, both brokers offer unique advantages for traders. ThinkMarkets boasts a simulated trading environment with a free virtual demo account, which iFOREX does not provide. Both brokers have developed proprietary platforms, but only ThinkMarkets includes a Windows-based desktop download platform and popular tools such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). While both offer web-based platforms, ThinkMarkets further supports copy trading—a feature absent on iFOREX. iFOREX distinguishes itself with 25 drawing tools for enhanced charting analysis, compared to ThinkMarkets' 15 drawing tools.
In terms of direct-from-chart trading, both ThinkMarkets and iFOREX enable this capability, streamlining access to the market. For building watch lists, ThinkMarkets provides 15 columns for customization, surpassing iFOREX's nine columns. Although both brokers receive a four-star rating for their trading platforms and tools, their rankings diverge, with ThinkMarkets positioned at #27 and iFOREX at #54 out of 62 brokers surveyed by ForexBrokers.com. These comprehensive offerings make both brokers worth considering, but ThinkMarkets may appeal more to those seeking a wider range of trading tools and features.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 15 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
ThinkMarkets and iFOREX both offer mobile trading apps for iPhone and Android users, but their features differ significantly. ThinkMarkets provides a more comprehensive trading experience with key functionalities like stock or forex price alerts and the ability to draw trendlines on charts. Users can enjoy the flexibility of switching between multiple time frames, such as daily, weekly, or intraday. Additionally, ThinkMarkets' mobile app supports an impressive 94 technical studies for charting. While both platforms lack watchlist symbol syncing between app and online accounts, ThinkMarkets allows users to create watchlists with real-time quotes and auto-saves drawings on charts. In contrast, iFOREX misses these features, offering no price alerts or advanced charting capabilities.
When it comes to mobile trading app rankings, ThinkMarkets stands out as a more favored option, ranked #20 out of 62 brokers according to ForexBrokers.com. Both apps receive a rating of 4 stars, but ThinkMarkets clearly leads with its rich feature set. Meanwhile, iFOREX ranks at #55, suggesting that traders seeking advanced mobile trading capabilities might find better satisfaction with ThinkMarkets. In summary, for those focused on charting tools and alerts, ThinkMarkets appears to be the more appealing choice between the two.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 94 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both ThinkMarkets and iFOREX provide daily market commentary, catering to traders who value regular updates. While ThinkMarkets has an edge with forex news from esteemed sources like Bloomberg and Reuters, iFOREX does not extend this feature. However, iFOREX compensates by offering tools from Trading Central for deeper market insights, a platform ThinkMarkets does not use. Both brokers offer sentiment-based trading tools, aiding traders in understanding market positions, and maintain economic calendars to keep clients informed about worldwide events.
ThinkMarkets and iFOREX have their own unique strengths, clearly reflected in their ratings and rankings. ThinkMarkets offers research tools from Acuity Trading, a feature absent from iFOREX’s offerings. As of their rankings, both hold a 3.5-star rating for research capability, with ThinkMarkets ranked 50th and iFOREX slightly ahead at 48th among 62 brokers according to ForexBrokers.com. Despite their differences, both brokers present valuable tools for traders aiming to stay informed and strategic in the market.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| 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.
ThinkMarkets offers a broad array of educational resources that can be highly beneficial for beginners diving into forex or CFDs trading. With over ten educational materials available, such as articles and videos, newcomers have plenty of content to explore. ThinkMarkets also hosts regular client webinars and makes past sessions available in a searchable archive. To help beginners strengthen their foundation, they provide more than ten educational videos specifically for novices. Beyond beginner-friendly content, ThinkMarkets extends its educational outreach to advanced traders with over ten detailed videos and supplies an investor dictionary that elaborates on over 50 investment terms.
By contrast, iFOREX falls short in several educational aspects that ThinkMarkets excels in. Although iFOREX offers more than ten beginner-focused educational videos, it does not match ThinkMarkets in providing regular webinars, archived sessions, or advanced trading videos. iFOREX also lacks an investor dictionary and sufficient educational content to reach ten pieces focusing strictly on forex or CFDs. Despite both brokers receiving a 3.5-star rating for education, ThinkMarkets still leads slightly in ranking, coming in at #52, just one spot ahead of iFOREX at #53.
| Feature |
ThinkMarkets
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. ThinkMarkets finished with an overall rank of #27, while iFOREX finished with an overall rank of #52.
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
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iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 92 | 75 |
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Both ThinkMarkets and iFOREX do not offer the ability to buy actual delivered cryptocurrency, but they both provide the option to trade cryptocurrency derivatives.
While both ThinkMarkets and iFOREX provide Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, iFOREX also offers PayPal services, whereas neither broker supports ACH or SEPA transfers.
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 | iFOREX | |
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| Trust Score | 92 | 75 | |
| Winner | check_circle | ||
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| Broker Screenshots | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
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| Regulation | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Trust Score | 92 | 75 | |
| Year Founded | 2010 | 1996 | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4000 | 750 | |
| Forex Pairs (Total) | 46 | 88 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| 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 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 15 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 94 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | ThinkMarkets | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | ThinkMarkets | iFOREX | |
|---|---|---|---|
| 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 |
| Overall | ThinkMarkets | iFOREX | |
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| Trust Score | 92 | 75 | |
| Winner | check_circle | ||
| Review |
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