Broker to Trading

IC Markets is a broker offering MT4, MT5, cTrader and TradingView. ThinkMarkets provides its ThinkZero account, which charges commissions and can offer spreads from 0 (like IC Markets). ThinkMarkets also has a Standard account on MT4, MT5 and ThinkTrader with no minimum deposit requirement. In the UK, ThinkMarkets offers spread betting on MT4 and MT5.

Both utilise Equinix data centres to co-locate their servers with those of liquidity providers, with the aim of high speed order transmission, which can be important for automated trading strategies, which both brokers allow.

For traders who make their own trading decisions, i.e. who do not trade with robots, ThinkMarkets's ThinkTrader provides a user friendly trading platform.

IC Markets is regulated by the ASIC in Australia, the CySEC in Cyprus and the FSA in the Seychelles. ThinkMarkets is regulated by the FCA in the United Kingdom and the ASIC in Australia and is licensed by the FSCA in South Africa.

Quick comparison

Both brokers offer MT4 and MT5. IC Markets additionally provides cTrader and TradingView, while ThinkMarkets additionally offers ThinkMarkets.

Minimum deposit and account types

The minimum deposit for IC Markets $200. There is no minimum deposit for ThinkMarkets's Standard account, but there is a minimum deposit of $500 for the ThinkZero account.

IC Markets offers the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
IC Markets's Standard account does not charge a commission, but the Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.
ThinkMarkets offers both CFD trading and spread betting. It provides 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

• IC Markets offers 2500+, covering Forex, Metals, Energy, Indices, Cryptocurrencies, Stocks, Soft Commodities, ETFs and Bonds.
• ThinkMarkets offers 3500+, covering Forex, Metals, Energy, Indices, Cryptocurrencies, Stocks and Soft Commodities.

Spreads and leverage

Both brokers can offer Forex spreads from 0 plus a commission charge. IC Markets can additionally provide Forex spreads from 0.8 without a commission charge, while ThinkMarkets can additionally offer Forex spreads from 0.4 without a commission charge.

Maximum leverage for IC Markets (ASIC or CySEC regulated) is . Maximum leverage for IC Markets (FSA regulated) is 500:1. Maximum leverage for ThinkMarkets (FCA regulated) is .

Commissions

• IC Markets charges a commission of $3.50 per lot per side for the MT4 and MT5 Raw Spread accounts while the cTrader Raw Spread account charges a commission of $3 per 100,000 USD traded per side.
• ThinkMarkets does not charge a commission on the Standard account and charges a commission of 3.5 units of currency per lot per side (e.g. £/$3.5 per side) for the ThinkZero account.

Online trading platforms

Both brokers provide MT5 and MT5. IC Markets additionally offers cTrader and TradingView. ThinkMarkets additionally provides ThinkTrader. Both brokers offer mobile apps.

Why IC Markets or ThinkMarkets ?

Traders who want to trade on MetaTrader 4 (MT4) or its successor MetaTrader 5 (MT5) can do so at either broker. Traders who want to trade on a platform design for the trader who executes their own trades can find ThinkTrader at ThinkMarkets. Trader who want a relatively user friendly platform with advanced features can find cTrader at IC Markets. Those who want to trade on the user friendly TradingView platform may find this at IC Markets. Both brokers use Equinix data centers and offer accounts which can have low spreads plus a commission charge. For its Standard accounts, which do not charge commissions, ThinkMarkets has no minimum deposit. Traders who want to trade a relatively large number of Stocks CFDs, can do so at both, but ThinkMarkets has more.

TL;DR summary

IC Markets offers platforms for automated traders, scalpers and higher volume traders as well as those who trade at their own discretion on longer term time frames. ThinkMarkets provides a user friendly platform aimed at those who make their own trading choices, but also offers dedicated MetaTrader accounts for automated traders and scalpers.

Comparison summary

• Both brokers provide CFD trading
• In the UK, ThinkMarkets additionally provides spread betting
• Each offers MT4 and MT5
• IC Markets additionally provides cTrader and TradingView
• ThinkMarkets additionally offers ThinkTrader
• ThinkMarkets provides a relatively large number of markets (3500+)