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 |
When comparing online brokers ThinkMarkets and TopFX, both brokers offer competitive commissions and fee structures, yet they cater to slightly different needs of traders. ThinkMarkets maintains a strong reputation with a 4-star rating for its commissions and fees; however, detailed information about their average spreads is not available, which can make it challenging for potential users to fully assess the cost implications.
TopFX, on the other hand, provides a clear and varied fee structure with its two account types: the ZERO account and the RAW account. The ZERO account is commission-free but features higher average spreads, recorded at 1.03 pips for the EUR/USD in July 2024. Alternatively, the RAW account charges a commission of 2.75 EUR per side, translating to 5.50 EUR per round turn on standard lots, with average spreads of 0.33 pips for the EUR/USD during the same period. This puts the all-in cost at approximately 0.88 pips, aligning well with industry standards. TopFX also boasts a 4-star rating for its commissions and fees.
Despite both being well-rated, their rankings by ForexBrokers.com reveal a distinction; ThinkMarkets is positioned at 48th out of 62 brokers in the Commissions and Fees category, whereas TopFX ranks higher at 40th. This suggests that while both brokers are commendable choices, TopFX may offer a slight edge in terms of cost competitiveness in the commissions and fees category.
| 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 as either CFDs or spot contracts, appealing to traders interested in this versatile market. ThinkMarkets takes the lead with a wider variety of tradeable symbols, boasting 4000 compared to TopFX’s 655, although TopFX offers more forex pairs with 60 versus ThinkMarkets’ 46. Both brokers provide the option for copy trading, catering to investors who want to follow experienced traders. When it comes to dealing in cryptocurrencies, neither platform supports buying actual cryptocurrencies, but both allow trading in cryptocurrency derivatives. However, ThinkMarkets distinguishes itself by offering exchange-traded securities on international exchanges, unlike TopFX.
Neither broker provides access to U.S. exchange-traded stocks, focusing their investment range on other areas. ThinkMarkets is favored for its broad range of investments, achieving a 4.5-star rating and ranked 21st out of 62 brokers by ForexBrokers.com. In contrast, TopFX earns a 3.5-star rating and holds the 46th position in the same category. This suggests that ThinkMarkets may be the more suitable choice for investors seeking a wider selection of trading opportunities, including international equities.
| 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.
ThinkMarkets and TopFX both provide online traders with comprehensive platforms and tools, but some differences set them apart. Both brokers offer free virtual demo accounts to help new traders get accustomed to the trading environment without financial risk. ThinkMarkets leads with its proprietary trading platform, developed in-house, while TopFX relies on popular platforms like MetaTrader 4 (MT4). Both brokers provide Windows-based desktop and web-based trading platforms. Although ThinkMarkets supports MetaTrader 5 (MT5), TopFX does not, which could be a consideration for traders preferring the latest version of the MetaTrader suite. Copy trading is available with both brokers, supporting traders looking to emulate successful strategies from experienced traders.
Charting features are robust for both ThinkMarkets and TopFX, as they offer the ability to trade directly from stock charts and provide 15 drawing tools for chart analysis. However, ThinkMarkets stands out with the ability to include up to 15 fields in their watchlists compared to TopFX's 7, allowing for more customization. Despite these differences, both brokers receive a solid rating of 4 stars from ForexBrokers.com for their trading platforms and tools. Still, ThinkMarkets holds a higher rank in the Trading Platforms and Tools category at #27, compared to TopFX, which is ranked #44, indicating generally higher satisfaction among users.
| 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 considering mobile trading apps, both ThinkMarkets and TopFX cater to iPhone and Android users, offering crucial features like price alerts and the ability to draw trendlines on charts. However, ThinkMarkets stands out by providing a more extensive selection of 94 technical studies compared to TopFX's 30, a key tool for those who rely heavily on chart analysis. Both brokers enable viewing multiple time frames and automatically save drawings, making it easier for traders to keep track of their insights and strategies. Despite these commonalities, neither broker has implemented watchlist syncing between mobile and online platforms, which can be a drawback for those who manage portfolios across different devices.
Real-time watchlists are available in both apps, and each is fairly well-regarded, with both brokers earning four-star ratings for their mobile trading platforms. However, their ranks within a larger field of 62 brokers reveal a divergence; ThinkMarkets is placed at #20, significantly ahead of TopFX at #51, according to ForexBrokers.com. While both platforms deliver fundamental trading functionalities, ThinkMarkets arguably offers a more comprehensive suite of tools for traders seeking detailed technical analyses on the go.
| 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 ThinkMarkets and TopFX for market research offerings, ThinkMarkets stands out with its daily market commentary, bringing traders up-to-date insights that TopFX does not provide. Both brokers deliver forex news from industry giants like Bloomberg and Reuters, ensuring their clients stay informed with high-quality information. However, TopFX takes an edge by integrating Autochartist tools and Trading Central's technical analytics, providing traders with additional technical and fundamental research capabilities that ThinkMarkets lacks.
In terms of trading tools, both brokers offer sentiment-based instruments that reflect market inclinations toward currency pairs. However, ThinkMarkets surpasses TopFX with its Acuity Trading research tools, adding depth with features like Signal Centre. Both platforms include economic calendars for tracking global financial events. Despite their distinct offerings, ThinkMarkets is slightly better rated at 3.5 stars compared to TopFX's 3 stars, with ForexBrokers.com ranking them #50 and #59 out of 62 brokers, respectively.
| 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, ThinkMarkets stands out compared to TopFX. ThinkMarkets offers a wealth of learning materials, including over 10 pieces of content like articles and videos focusing on forex and CFDs. Additionally, ThinkMarkets hosts monthly webinars and provides access to a searchable archive of past recordings. For those just starting, they offer at least 10 beginner-focused videos on trading topics, helping newcomers grasp the basics. An investor dictionary with over 50 terms further aids beginners in familiarizing themselves with essential trading concepts.
On the other hand, TopFX falls short in providing educational resources for new traders. Unlike ThinkMarkets, TopFX does not offer a comparable range of articles or videos on forex and CFDs. They also do not provide regular webinars or a library of past sessions. With no beginner-specific video content or comprehensive investor dictionary, TopFX offers significantly less support for those new to trading. These differences are reflected in their rankings, with ThinkMarkets receiving a slightly better education rating of 3.5 stars, compared to TopFX’s 3 stars, and ranking higher on ForexBrokers.com’s list of 62 brokers.
| 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 62 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 #61.
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 |
| Broker Screenshots | ThinkMarkets | TopFX | |
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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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