Compare ThinkMarkets vs FXOpen
What is ThinkMarkets? What is FXOpen?
ThinkMarkets is an award-winning online broker that offers trading services for forex, shares, indices, precious metals, commodities and cryptocurrencies. It was established in 2010 and is regulated by the FCA and ASIC.
FXOpen is also an online broker that offers trading services for forex, stocks, crypto CFDs, indices, metals and commodities. It was founded in 2005 and is regulated by the FCA, ASIC and FSCA.
ThinkMarkets vs FXOpen Regulation Comparison
Both brokers are regulated by reputable authorities, but FXOpen has more licenses than ThinkMarkets. FXOpen is authorized by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Financial Sector Conduct Authority (FSCA) in South Africa. ThinkMarkets is also regulated by the FCA and ASIC, but not by the FSCA.
ThinkMarkets vs FXOpen Trading Assets Comparison
Both brokers offer a wide range of trading assets, but ThinkMarkets has more variety than FXOpen. ThinkMarkets offers over 4,000 instruments, including 50 currency pairs, 25+ cryptocurrency CFDs, shares CFDs, index CFDs, spot metals CFDs and commodity CFDs. FXOpen offers over 50 instruments, including 50 currency pairs, 25+ cryptocurrency CFDs, stocks CFDs, index CFDs, spot metals CFDs and commodity CFDs. However, ThinkMarkets also offers ETFs and ASX & Chi-X shares for Australian clients.
ThinkMarkets vs FXOpen Trading Fees Comparison
Both brokers have competitive trading fees, but ThinkMarkets has lower spreads than FXOpen. ThinkMarkets offers raw spreads from 0 pips on its ECN account, with commissions from 1.5 units per lot. FXOpen also offers raw spreads from 0 pips on its ECN account, but with commissions from 15 units per lot. ThinkMarkets also has a commission-free STP account with floating spreads from 0.4 pips, while FXOpen has a commission-free STP account with floating spreads from 1.5 pips.
ThinkMarkets vs FXOpen Account Types Comparison
Both brokers have different account types to suit different trading styles and preferences. ThinkMarkets has three main account types: ECN, STP and Invest. The ECN account is for traders who want access to interbank liquidity and low commissions. The STP account is for traders who want commission-free trading and fast execution. The Invest account is for traders who want to buy shares and ETFs with HIN ownership.
FXOpen has four main account types: ECN, STP, Crypto and Micro. The ECN account is for traders who want access to interbank liquidity and low commissions. The STP account is for traders who want commission-free trading and fast execution. The Crypto account is for traders who want to trade cryptocurrencies with high leverage and low commissions. The Micro account is for traders who want to start trading with a small deposit and low risk.
ThinkMarkets vs FXOpen Deposit Options Comparison
Both brokers have various deposit and withdrawal options for their clients. ThinkMarkets accepts deposits and withdrawals via bank transfer, credit/debit card, Skrill, Neteller, PayPal and BitPay.
FXOpen accepts deposits and withdrawals via bank transfer, credit/debit card, Skrill, Neteller, WebMoney, Perfect Money, FasaPay and cryptocurrencies. However, ThinkMarkets does not charge any fees for deposits or withdrawals, while FXOpen may charge some fees depending on the payment method.
ThinkMarkets vs FXOpen Trading Platforms Comparison
Both brokers offer multiple trading platforms for their clients. ThinkMarkets offers three platforms: MT4, MT5 and TickTrader. MT4 and MT5 are popular platforms that support automated trading, custom indicators and advanced charting tools. TickTrader is a proprietary platform that offers innovative features such as depth of market, one-click trading and social trading. FXOpen also offers three platforms: MT4, MT5 and TickTrader. MT4 and MT5 are similar to those offered by ThinkMarkets. TickTrader is also a proprietary platform that offers similar features as those offered by ThinkMarkets.
ThinkMarkets vs FXOpen Analytical Tools Comparison
Both brokers provide analytical tools to help their clients make informed trading decisions. ThinkMarkets provides trading guides, expert insights and market news on its website. FXOpen also provides market news on its website, as well as an economic calendar, technical analysis tools and webinars on its education section.
ThinkMarkets vs FXOpen. 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 different brokers may suit different traders depending on their trading style, preferences and needs. However, you can consider some factors that may help you make your decision.
Some of these factors are:
- Regulation: Both brokers are regulated by reputable authorities, but FXOpen has more licenses than ThinkMarkets. This may give you more confidence and protection when trading with FXOpen, as they have to comply with more regulatory standards and requirements.
- Trading Assets: Both brokers offer a wide range of trading assets, but ThinkMarkets has more variety than FXOpen. This may give you more opportunities and flexibility when trading with ThinkMarkets, as they have more instruments to choose from and diversify your portfolio.
- Trading Fees: Both brokers have competitive trading fees, but ThinkMarkets has lower spreads than FXOpen. This may save you more money and increase your profits when trading with ThinkMarkets, as they have lower trading costs and commissions.
- Account Types: Both brokers have different account types to suit different trading styles and preferences. You may want to compare the features and benefits of each account type and choose the one that best fits your trading goals and risk appetite.
- Deposit and Withdrawal Options: Both brokers have various deposit and withdrawal options for their clients. You may want to check the availability, convenience and fees of each payment method and choose the one that is most suitable for you.
- Trading Platforms: Both brokers offer multiple trading platforms for their clients. You may want to test the functionality, performance and user-friendliness of each platform and choose the one that you are most comfortable with.
- Analytical Tools: Both brokers provide analytical tools to help their clients make informed trading decisions. You may want to explore the quality, quantity and usefulness of each tool and choose the broker that offers the most valuable and relevant information for your trading needs.
Ultimately, the choice of which forex broker is better or which one you should choose depends on your personal preferences and circumstances. You may want to do your own research, read reviews and feedback from other traders, and try out the demo accounts of both brokers before making your final decision.
