| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXOpen | $1 Minimum Deposit | MT4, MT5, TickTrader Trading Platforms | 600+ Markets To Trade | FXOpen offers trading (including automated trading) on MT4, MT5 and TickTrader and provides a Cent account with a $1 minimum deposit About |
| ThinkMarkets | None Minimum Deposit | MT4, MT5, ThinkTrader Trading Platforms | 1000+ Markets To Trade | ThinkMarkets offers a wide range of types of trading across its platforms: MT4, MT5 and user friendly ThinkTrader, provides copy trading and has 3500+ Stocks CFDs to trade About |
FXOpen vs ThinkMarkets Comparison
These brokers each offer trading on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the successor to MT4. As well as MT4 and MT5, ThinkMarkets offers user friendly ThinkTrader while FXOpen provides user friendly TickTrader.
ThinkMarkets can offer more markets to trade than FXOpen, especially on MT5, however FXOpen has a competitive number of markets for an ECN broker.
ECN conditions
Both offer low spreads plus a commission charge, FXOpen on its ECN account and ThinkMarkets on its ThinkZero accounts. Each uses Equinix infrastructure for high speed order processing.
Quick comparison
Both brokers provide MT4 and MT5. ThinkMarkets additionally provides ThinkTrader and can offer more markets to trade while FXOpen additionally offers TickTrader.
Minimum deposit and account types
The minimum deposit for FXOpen is $1. ThinkMarkets does not have a minimum deposit for its Standard account and for its ThinkZero account has a minimum deposit of $500.
- FXOpen offers ECN, STP, Micro and Crypto account types. The minimum deposit is $1 for the Micro account, $10 for the STP and Crypto accounts and $100 for the ECN account. The ECN account charges commissions on its markets, the STP does not charge commissions. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). FXOpen supports social and copy trading via ZuluTrade and Myfxbook. The minimum trade size is 0.0001 lots on the Micro account. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
- ThinkMarkets offers the Standard account and the ThinkZero account. An Islamic account is available. There is no minimum deposit for the Standard account. The minimum deposit for the ThinkZero account is $/£500. The Standard account does not charge commissions, ThinkZero account does charge a commission. The minimum trade size is 0.01 lots.
- ThinkMarkets account types provide 24/6 Live Support and a Free VPS Service, T&Cs apply. The ThinkZero account also offers AutoChartist and an account manager. ThinkMarkets offers Market News, Webinars, an Economic Calendar and Tutorials on its website.
Markets
- FXOpen offers Forex, Indices, Energy, Metals, Stocks and Cryptocurrencies, with 600+ available.
- ThinkMarkets provides Forex, Indices, Energy, Metals, Stocks and Cryptocurrencies, with 3500+ on offer.
FXOpen provides 40+ Forex pairs, ThinkMarkets provides 40+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| FXOpen Broker | MT4, MT5, TickTrader Trading Platforms | FXOpen offers automated trading on MT4, MT5 and TickTrader and provides a Cent account with a $1 minimum deposit Description |
| ThinkMarkets Broker | MT4, MT5, ThinkTrader Trading Platforms | ThinkMarkets provides trading on MT4 and MT5, with spreads from 0 plus commission and provides user friendly ThinkTrader Description |
Spreads and leverage
Both brokers can offer Forex spreads from 0 plus a commission charge.
Maximum leverage for FXOpen is 500:1. Maximum leverage at ThinkMarkets (Bermuda) is 500:1.
Commissions
- For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
- ThinkMarkets does not charge a commission on the Standard account and charges a commission of $3.5 per lot per side for the ThinkZero account.
Online trading platforms
Both brokers offer MT4 and MT5. ThinkMarkets additionally provides ThinkTrader while FXOpen additionally provides TickTrader. Both offer mobile apps.
Why FXOpen or ThinkMarkets ?
Traders who want to trade on MT4 or MT5 can do so at either broker. Traders who want a web trader can find TickTrader at FXOpen and ThinkTrader at ThinkMarkets. Traders who want to use robots can do so on MetaTrader at either, or use TickTrader desktop at FXOpen. Traders who want to trade with a Cent account may do so at FXOpen, which has a $1 minimum deposit for this account. Those who want to trade 3500+ Stocks CFDs can do so at ThinkMarkets.
Comparison summary
- Both brokers provide CFD trading
- Both offer MT4 and MT5
- ThinkMarkets additionally provides ThinkTrader
- FXOpen additionally offers TickTrader
- ThinkMarkets offers more markets to trade (3500+)
- ThinkMarkets has no minimum deposit for its Standard account
- FXOpen has a $1 minimum deposit for its Micro (Cent) account
