Compare ThinkMarkets vs FXTM
What is ThinkMarkets? What is FXTM?
ThinkMarkets is an online broker that was established in 2010 and is regulated by several authorities, including ASIC, FCA, FSA, and FSCA. It offers trading in forex, CFDs, indices, commodities, cryptocurrencies, and spread betting. It provides three types of accounts: Standard, ThinkZero, and Islamic. It also has its own proprietary trading platform called ThinkTrader, as well as MetaTrader 4 and MetaTrader 5.
FXTM is an online broker that was founded in 2011 and is regulated by CySEC, FCA, FSCA, and other regulators. It offers trading in forex, CFDs, futures, cryptocurrencies, and stocks. It has various account types, such as Standard, Cent, ECN, ECN Zero, Pro, and Islamic. It supports MetaTrader 4 and MetaTrader 5 as its trading platforms.
ThinkMarkets vs FXTM Regulation Comparison
Both brokers are regulated by reputable authorities in different jurisdictions. ThinkMarkets has licenses from ASIC (Australia), FCA (UK), FSA (Japan), FSCA (South Africa), FSA (Seychelles), and FSC (Mauritius). FXTM has licenses from CySEC (Cyprus), FCA (UK), FSCA (South Africa), CMA (Kenya), and other regulators. Both brokers also offer segregated accounts for client funds and investor compensation schemes in case of insolvency.
ThinkMarkets vs FXTM Trading Assets Comparison
ThinkMarkets and FXTM both offer a wide range of trading instruments across different markets. ThinkMarkets has over 4,000 instruments, including forex, CFDs, indices, commodities, cryptocurrencies, and spread betting. FXTM has over 3,000 instruments, including forex, CFDs, futures, cryptocurrencies, and stocks. Both brokers allow traders to access major US and global indices, as well as popular commodities such as oil and gold.
ThinkMarkets vs FXTM Trading Fees Comparison
ThinkMarkets and FXTM have different fee structures depending on the account type and the instrument traded. ThinkMarkets offers variable spreads that start from 0.4 pips on major forex pairs and charges a commission of $3.50 per lot on its ThinkZero account. FXTM offers variable spreads that start from 1.3 pips on major forex pairs and charges a commission of $2 per lot on its ECN account. Both brokers also charge swap fees for holding positions overnight and may apply other fees such as inactivity fees or withdrawal fees.
ThinkMarkets vs FXTM Account Types Comparison
ThinkMarkets and FXTM have different account types that cater to different trading styles and preferences. ThinkMarkets has three account types: Standard, ThinkZero, and Islamic. The Standard account has no commission but higher spreads, the ThinkZero account has lower spreads but a commission fee, and the Islamic account has no swap fees for Sharia-compliant trading. The minimum deposit for the Standard account is $500, while the minimum deposit for the ThinkZero account is $1,000.
FXTM has six account types: Standard, Cent, ECN, ECN Zero, Pro, and Islamic. The Standard account has no commission but higher spreads, the Cent account has micro lots for beginners with a minimum deposit of $10, the ECN account has lower spreads but a commission fee, the ECN Zero account has no commission but higher spreads than the ECN account, the Pro account has the lowest spreads but a high minimum deposit of $25,000, and the Islamic account has no swap fees for Sharia-compliant trading.
ThinkMarkets vs FXTM Deposit Options Comparison
ThinkMarkets and FXTM both offer various payment methods for depositing and withdrawing funds from their trading accounts. ThinkMarkets accepts crypto payments such as Bitcoin and Ethereum, as well as BPAY, credit/debit cards, Neteller, PayPal, Skrill, Tether, and wire transfer. FXTM accepts WebMoney, Skrill, wire transfer, credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, crypto payments such as Bitcoin and Ethereum, and Google Pay. Both brokers process deposits instantly or within a few hours depending on the method used. Withdrawals may take longer depending on the verification process and the payment provider.
ThinkMarkets vs FXTM Trading Platforms Comparison
ThinkMarkets and FXTM both support MetaTrader 4 and MetaTrader 5 as their trading platforms. These are popular platforms that offer advanced charting tools, technical indicators, trading signals, automated trading systems, and mobile trading apps. ThinkMarkets also has its own proprietary platform called ThinkTrader, which is a user-friendly and intuitive platform that offers powerful analytical tools, one-click trading, customizable layouts, and a news feed. FXTM does not have its own platform, but it offers additional tools such as FXTM Trader, which is a mobile app that allows commission-free trading and spreads as low as zero on major forex pairs and gold, and FXTM Invest, which is a copy trading service that allows investors to follow and copy the trades of successful traders.
ThinkMarkets vs FXTM Analytical Tools Comparison
ThinkMarkets and FXTM both offer various analytical tools to help traders with their market research and trading decisions. ThinkMarkets provides market news, expert insights, trading guides, and webinars on its website. It also offers Autochartist, which is a tool that scans the markets for trading opportunities based on technical analysis and patterns. FXTM provides market news, market analysis, economic calendar, trading signals, trading guides, and webinars on its website. It also offers FXTM Pivot Points Strategy, which is a tool that calculates the daily pivot points for different instruments and helps traders identify potential support and resistance levels.
ThinkMarkets vs FXTM. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as it depends on your personal preferences, trading style, and goals. However, you can consider some of the following factors to help you make an informed decision:
- Regulation: Both brokers are regulated by reputable authorities in different jurisdictions, which means they have to comply with high standards of security, transparency, and customer protection. However, depending on where you are located and where you want to trade, you may prefer a broker that has a license from a specific regulator that covers your region. For example, if you are in the UK, you may prefer a broker that is regulated by the FCA, such as ThinkMarkets or FXTM.
- Trading Assets: Both brokers offer a wide range of trading instruments across different markets, but they may differ in the number and variety of instruments they offer. For example, ThinkMarkets has more instruments than FXTM, including spread betting, which is only available for UK and Ireland residents. FXTM, on the other hand, offers stocks and futures trading, which ThinkMarkets does not. Depending on what kind of instruments you want to trade and how diversified you want your portfolio to be, you may prefer a broker that has more or less instruments than the other.
- Trading Fees: Both brokers have different fee structures depending on the account type and the instrument traded. Generally speaking, ThinkMarkets has lower spreads but higher commissions than FXTM, while FXTM has higher spreads but lower commissions than ThinkMarkets. However, this may vary depending on the specific instrument and account type you choose. Depending on your trading volume and frequency, you may prefer a broker that has lower spreads or lower commissions than the other.
- Account Types: Both brokers have different account types that cater to different trading styles and preferences. ThinkMarkets has three account types: Standard, ThinkZero, and Islamic. FXTM has six account types: Standard, Cent, ECN, ECN Zero, Pro, and Islamic. Depending on your trading experience, capital, risk appetite, and trading strategy, you may prefer an account type that has lower or higher minimum deposits, lower or higher spreads and commissions, or swap-free trading options.
- Deposit and Withdrawal Options: Both brokers offer various payment methods for depositing and withdrawing funds from their trading accounts. ThinkMarkets accepts crypto payments such as Bitcoin and Ethereum, as well as BPAY, credit/debit cards, Neteller, PayPal, Skrill, Tether, and wire transfer. FXTM accepts WebMoney, Skrill, wire transfer, credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, crypto payments such as Bitcoin and Ethereum, and Google Pay. Depending on your preferred payment method and currency, you may prefer a broker that has more or less payment options than the other.
- Trading Platforms: Both brokers support MetaTrader 4 and MetaTrader 5 as their trading platforms. These are popular platforms that offer advanced charting tools, technical indicators, trading signals, automated trading systems, and mobile trading apps. ThinkMarkets also has its own proprietary platform called ThinkTrader, which is a user-friendly and intuitive platform that offers powerful analytical tools, one-click trading, customizable layouts, and a news feed. FXTM does not have its own platform, but it offers additional tools such as FXTM Trader, which is a mobile app that allows commission-free trading and spreads as low as zero on major forex pairs and gold, and FXTM Invest, which is a copy trading service that allows investors to follow and copy the trades of successful traders. Depending on your preferred platform features and functionalities, you may prefer a broker that has its own platform or additional tools than the other.
- Analytical Tools: Both brokers offer various analytical tools to help traders with their market research and trading decisions. ThinkMarkets provides market news, expert insights, trading guides, and webinars on its website. It also offers Autochartist, which is a tool that scans the markets for trading opportunities based on technical analysis and patterns. FXTM provides market news, market analysis, economic calendar, trading signals, trading guides, and webinars on its website. It also offers FXTM Pivot Points Strategy, which is a tool that calculates the daily pivot points for different instruments and helps traders identify potential support and resistance levels. Depending on your preferred source of information and analysis, you may prefer a broker that has more or less analytical tools than the other.
