Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers, established in 1977, and ThinkMarkets, founded in 2010, are both competitive online trading platforms, but they differ significantly in their trust assessments and regulatory credentials. Interactive Brokers boasts a superb ForexBrokers.com Trust Score of 99 out of 99, indicating a high level of trust. This trust is reinforced by its possession of 9 Tier-1 licenses, which underscores a strong regulatory standing. In addition to its Tier-1 credentials, Interactive Brokers holds 2 Tier-2 licenses. Furthermore, it is publicly traded, allowing for additional transparency and scrutiny.
In comparison, ThinkMarkets has a commendable ForexBrokers.com Trust Score of 92, which also signifies high trust, although slightly lower than Interactive Brokers. ThinkMarkets holds a solid number of regulatory credentials, including 5 Tier-1 licenses and 2 Tier-2 licenses. Unlike Interactive Brokers, ThinkMarkets is not publicly traded. Neither of the firms operate as banks, focusing solely on brokerage services, thus providing a pure trading experience. When choosing between the two, Interactive Brokers offers a slightly higher trust score and more regulatory licenses, catering to users who prioritize these aspects. Meanwhile, ThinkMarkets presents a strong but slightly different appeal with its impressive trust score and regulatory framework.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 5 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When considering commissions and fees, Interactive Brokers offers a competitive structure, though precise comparisons can be challenging due to the lack of published average forex spreads. However, data from Q3 2024 suggests that Interactive Brokers provides an effective all-in spread of 0.59 pips for EUR/USD trading, comprising 0.19 pips of average spreads and commission costs. Forex trading commissions start at 0.00002 (0.2 basis points) of the trade value per side with a minimum of $2 per order, making it relatively cost-effective, especially for active traders who may see reduced rates. Interactive Brokers aggregates prices from 17 major interbank dealers, ensuring direct access with commissions ranging from $16 to $40 per million round turn. This brokerage earns a stellar rating of 5 stars and ranks #2 out of 62 brokers in the Commissions and Fees category.
In contrast, ThinkMarkets does not publish average spread data, making a direct comparison difficult. However, it manages to hold a moderate position with a commendable 4-star rating for its fee structure. Despite this, ThinkMarkets is ranked much lower at #48 out of 62 brokers for commissions and fees by ForexBrokers.com. Without transparent spread information, it's hard to gauge its overall competitiveness directly against Interactive Brokers.
Overall, for traders prioritizing low commissions and access to major interbank dealers, Interactive Brokers stands out as a top contender in the market. While ThinkMarkets offers value and simplicity, the in-depth transparency and lower costs for active traders at Interactive Brokers may provide a significant advantage, especially for those frequently trading high volumes in forex markets.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 0.59 | 1.1 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers stands out for its extensive range of investments compared to ThinkMarkets, making it a great choice for those seeking diverse options. With access to 8,500 tradeable symbols, Interactive Brokers offers a broad selection of financial instruments, including the ability to trade 90 forex pairs and purchase U.S. exchange-traded securities like Apple stocks. Additionally, investors can buy actual cryptocurrencies, catering to those interested in the digital asset realm. While Interactive Brokers does not support copy trading, it excels in providing traditional and modern investment opportunities, earning a top rating of 5 stars for its investment range.
On the other hand, ThinkMarkets offers a solid selection with 4,000 tradeable symbols and 46 forex pairs, suitable for traders who have a narrower focus yet still want flexibility in trading various assets. While it supports copy trading, enabling users to mirror the trading activities of others, it does not offer U.S. exchange-traded securities or actual cryptocurrencies, focusing instead on CFDs and derivative options. With a 4.5-star rating, ThinkMarkets provides a commendable investment variety but falls short of Interactive Brokers' comprehensive offerings, ranking 21st compared to Interactive Brokers' top spot in ForexBrokers.com's range of investments category.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 4000 |
| Forex Pairs (Total) | 90 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
Interactive Brokers and ThinkMarkets both provide comprehensive trading platforms, which include free virtual demo accounts to facilitate simulated trading for their users. Each broker has developed their proprietary trading platforms and offers both a Windows-based desktop download and a web-based trading option. However, when it comes to diversity in platform offerings, ThinkMarkets has an edge by supporting popular third-party platforms such as MetaTrader 4 and MetaTrader 5, enhancing its appeal for traders familiar with these tools. Interactive Brokers, on the other hand, does not offer these third-party options but compensates with an extensive array of 659 watchlist columns compared to ThinkMarkets' 15, allowing for a more customized and detailed user experience.
For investors interested in copy trading, ThinkMarkets stands out as it offers copy trading options which are absent from Interactive Brokers. Additionally, Interactive Brokers excels in charting capabilities with 85 drawing tools, while ThinkMarkets provides 15. Both platforms allow for direct trading from stock charts, yet the superior customization and advanced options available at Interactive Brokers culminate in a higher platform rating of five stars against ThinkMarkets' four stars. According to ForexBrokers.com, Interactive Brokers is ranked third among 62 brokers for their trading platforms and tools, showcasing their strong position in the market, while ThinkMarkets holds the 27th position, still respectable but indicating room for growth in platform sophistication and flexibility.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and ThinkMarkets offer comprehensive mobile trading apps for iPhone and Android users, enabling seamless access to stock and forex markets. Users can set up price alerts and enjoy the convenience of creating watchlists with real-time quotes. Interactive Brokers has a leg up with its ability to sync watchlist symbols between the mobile app and online accounts, a feature absent in ThinkMarkets. With 97 technical studies available on the Interactive Brokers app compared to ThinkMarkets' 94, traders have slightly more options for in-depth analysis. Both brokers allow for trendline drawing and exploring multiple time frames on charts, although ThinkMarkets has the edge with its auto-save feature for such drawings.
In terms of user ratings and rankings, Interactive Brokers stands out with a stellar 5-star rating for its mobile trading app, placing it 4th out of 62 brokers according to ForexBrokers.com. ThinkMarkets is rated at 4 stars and holds the 20th spot in the same ranking. Overall, while both apps offer a wealth of features to traders, Interactive Brokers seems to deliver a slightly more enhanced mobile trading experience.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 94 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Interactive Brokers and ThinkMarkets for market research offerings, both platforms provide daily market commentary and deliver forex news from premium sources like Bloomberg and Reuters. However, Interactive Brokers takes the lead in offering a wider array of advanced tools. It provides market research from TipRanks and features from Trading Central, such as Technical Analytics and sentiment-based trading tools, showing a robust emphasis on insight depth and trader confidence. Meanwhile, ThinkMarkets also provides market research tools from Acuity Trading and uses sentiment-based trading indicators, yet it misses out on Trading Central's features and TipRanks research.
Both brokers include an economic calendar so traders can keep track of global events affecting markets. Evaluating overall research capabilities, Interactive Brokers shines with a 5-star rating and is ranked #3 out of 62 brokers by ForexBrokers.com. ThinkMarkets, though delivering helpful resources, only receives a 3.5-star rating and ranks #50. This difference underscores Interactive Brokers' superior offerings in comprehensive market analysis tools, making it a preferred choice for those seeking detailed and diversified research solutions.
| Feature |
Interactive Brokers
|
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) | Yes | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Interactive Brokers and ThinkMarkets stand out with solid offerings. Each platform provides over 10 educational pieces focusing on forex and CFDs, ensuring a good foundation for new traders. Both brokers offer monthly online educational webinars, accessible archives of recorded sessions, and a range of beginner videos. Whether you're just starting or looking to deepen your understanding, you will find useful tools at both Interactive Brokers and ThinkMarkets.
However, there are notable differences in quality and recognition. Interactive Brokers shines with a perfect 5-star rating for education and is ranked third out of 62 brokers by ForexBrokers.com. In comparison, ThinkMarkets, with a 3.5-star rating, is positioned at the 52nd spot. These ratings reflect the depth and quality of educational content offered. For those seeking a more comprehensive educational experience, Interactive Brokers may be the preferred choice.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than ThinkMarkets. Interactive Brokers finished with an overall rank of #2, while ThinkMarkets finished with an overall rank of #27.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
| Range of Investments |
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Interactive Brokers allows users to buy both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas ThinkMarkets provides the option to purchase only cryptocurrency derivatives.
Interactive Brokers and ThinkMarkets differ in their deposit and withdrawal options: Interactive Brokers supports ACH or SEPA transfers and bank wires, while ThinkMarkets additionally offers Visa or Mastercard and Skrill but does not support ACH or SEPA transfers; neither broker offers PayPal as a funding method.
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 | Interactive Brokers | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 5 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 4000 | |
| Forex Pairs (Total) | 90 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.1 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 15 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 94 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review |
| Overall | Interactive Brokers | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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