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IC Markets vs ThinkMarkets 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between IC Markets and ThinkMarkets? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, IC Markets ranks more highly than ThinkMarkets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
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Overall Rating expand_moreexpand_less IC Markets ThinkMarkets XTB
Overall Rating 8 / 10 7.3 / 10 8.7 / 10
Account Type expand_moreexpand_less IC Markets ThinkMarkets XTB
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account Yes Yes Yes
Islamic Account Yes Yes Yes
Copy Trading expand_moreexpand_less IC Markets ThinkMarkets XTB
Social Trading / Copy Trading Yes Yes Yes
DupliTrade No No No
ZuluTrade Yes Yes No
Cryptocurrency expand_moreexpand_less IC Markets ThinkMarkets XTB
Cryptocurrency (Physical) No No No
Cryptocurrency (CFD) Yes Yes Yes
Bitcoin Yes Yes Yes
ethereum Yes Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less IC Markets ThinkMarkets XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less IC Markets ThinkMarkets XTB
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less IC Markets ThinkMarkets XTB
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No No
Social Trading / Copy Trading Yes Yes Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes No Yes
ETF Yes No No
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less IC Markets ThinkMarkets XTB
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform No Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes Yes
MetaTrader 5 (MT5) Yes Yes No
Regulatory Licenses expand_moreexpand_less IC Markets ThinkMarkets XTB
Tier-1 Licenses 1 2 1
ASIC Authorised (Australia) Yes Yes No
IIROC Authorised (Canada) No No No
FCA Authorised (U.K.) No Yes Yes
SFC Authorised (Hong Kong) No No No
MAS Authorised (Singapore) No No No
FINMA Authorised (Switzerland) No No No
CFTC Registered (USA) No No No
Tier-2 Licenses 1 2 3
Tier-3 Licenses 1 0 1
Research, Education expand_moreexpand_less IC Markets ThinkMarkets XTB
Trading Central (Recognia) Yes Yes No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist Yes No No
Investor Dictionary (Glossary) Yes Yes No
Videos - Beginner Trading Videos No Yes Yes
Client Webinars (Archived) Yes Yes Yes
Trading Costs expand_moreexpand_less IC Markets ThinkMarkets XTB
Minimum Initial Deposit $200 $250.00 $0
Average Spread EUR/USD - Standard 0.62 (August 2021) N/A 0.9 (Q3 2021)
All-in Cost EUR/USD - Active 0.62 (August 2021) N/A 0.9 (Q3 2021)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes Yes
PayPal (Deposit/Withdraw) Yes No Yes
Trading Tools expand_moreexpand_less IC Markets ThinkMarkets XTB
Watchlists - Total Fields 7 15 8
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 30 30 39
Mobile Charting - Indicators / Studies 30 30 39
Trust Factors expand_moreexpand_less IC Markets ThinkMarkets XTB
Year Founded 2007 2010 2002
Publicly Traded (Listed) No No Yes
Bank No No No
Authorised in European Union No Yes Yes
Trust Score 86 86 95
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IC Markets vs ThinkMarkets Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare IC Markets vs ThinkMarkets.

Can I trust IC Markets?

IC Markets has a trust score of 86, giving it a "Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust ThinkMarkets?

ThinkMarkets has a trust score of 86, giving it a "Trusted" trust label.

Is IC Markets a good broker?

IC Markets' combination of low spreads and commissions, as well as its supportive execution policies that accomodate algorithmic traders make it our pick for the best MetaTrader broker. In addition, IC Markets recently bolstered its range of markets, sending the total available to over 3,000. It's worth noting, however, that its reserach and educational offerings still have lots of room to improve.

Is ThinkMarkets a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. IC Markets is ASIC Authorised (Australia), while ThinkMarkets is ASIC Authorised (Australia), FSA Authorised (Japan) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, IC Markets is CySEC Authorised (Cyprus), while ThinkMarkets is CySEC Authorised (Cyprus) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), NSE Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses IC Markets is SCB Authorised (Bahamas), while ThinkMarkets is none., neither have IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms IC Markets supports a Desktop Platform (Windows), cTrader and ZuluTrade, whereas ThinkMarkets supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade., neither have DupliTrade

Does IC Markets offer MetaTrader? Does ThinkMarkets offer MetaTrader?

Both IC Markets and ThinkMarkets offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do IC Markets and ThinkMarkets differ in terms of minimum deposit? What about average spreads and funding options?

IC Markets requires a minimum deposit of $200, while ThinkMarkets requires a minimum deposit of $250.00. From our testing we found IC Markets offers spreads of 0.62 (August 2021), while ThinkMarkets offers spreads of N/A. IC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where ThinkMarkets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, IC Markets or ThinkMarkets?

IC Markets offers a more diverse selection of investment options than ThinkMarkets allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, IC Markets has 3583, compared to 1674 from ThinkMarkets.

Can I trade cryptocurrency with IC Markets or ThinkMarkets?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither IC Markets nor ThinkMarkets allow you to trade physical cryptocurrencies.

Who offers more research tools, IC Markets or ThinkMarkets?

In terms of research and research tools IC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison ThinkMarkets has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.




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