ThinkMarkets and Interactive Brokers are online forex brokers that offer their trading services to traders and investors. ThinkMarkets is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including ASIC, CySEC, FCA, FSA, FSC, NZFMA, DFSA, JFSA, FSCA, CIMA. Similarly, Interactive Brokers is also a regulated broker which is regulated by SEC, CFTC, FCA, FSCS, FINRA, FCM, IIROC, MAS, FSA. Both the brokers have their own strengths and weaknesses.
In this article, we will review and compare the brokerage services offered by ThinkMarkets and Interactive Brokers. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
ThinkMarkets vs Interactive Brokers: In a Nutshell
ThinkMarkets
Founded in 2010 by Nauman and Faizan Anees, ThinkMarkets is an Australian-based forex and CFD broker that offers online trading services worldwide. The company has offices in London, Tokyo, Chicago, Melbourne, Limassol, Dubai, Sofia, and Johannesburg. On its MetaTrader and ThinkTrader platforms, clients can trade over 4,000 instruments. Real stock trading is available on the ThinkTrader app. Traders are supported with free VPS, Signal Centre, Dynamic leverage, Traders’ Gym, etc. To learn more about Think Markets, read our review on Think Markets
ThinkMarkets At a Glance
- Founded In: 2010
- Founder: Nauman and Faizan Anees
- Headquarters: London, England
- Minimum Deposit: $0 (Standard Account), $500 (ThinkZero account).
- Maximum Leverage: 1:500
- Regulations: ASIC, CySEC, FMA, JFSA, FSA-S, FSCA , FCA , DFSA
- Trading platform: MT5, ThinkTrader, ThinkCopy
- Account Types: Demo ,Standard Account, Think Zero, Mini Account
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Cryptocurrency, Neteller, PayPal, PayRetailers, Skrill
- US Clients : Not Accepted
Interactive Broker
Founded in New York, USA in 1978 by Thomas Peterffy, Interactive Brokers has grown into a global brand with over 2.1 million clients. It is an American Multinational brokerage firm headquartered in Greenwich, Connecticut. It has become one of the leading online trading solutions for traders, investors, and advisors. The brokers give access to over 5000+ tradable assets including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, and Bonds. To trade online, IBKR offers WebTrader, FIX API, MobileTrader (MobileApp), and TWS trading platforms. To learn more about IBKR, you can read our review of Interactive Brokers
Interactive Brokers Overview
- Founded In: 1978
- Founder: Chairman Thomas Peterffy
- Headquarters: Greenwich, Connecticut, United States
- Minimum Deposit: None
- Maximum Leverage: 500:1
- Regulations: SEC , CFTC ,FCA, FSCS, ASIC , IIROC , FSA
- Trading platform: WebTrader, FIX API, MobileTrader
- Account Types: Family Office Account ,UGMA/UTMA, IRA, Trust ,Joint, Individuals
- Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
- US Traders: Accepted
ThinkMarkets vs: Interactive Brokers Features
ThinkMarkets
- Trading Instruments: 4000+ trading instruments including including forex, cryptocurrencies, shares CFDs, indices, metals, and commodities.
- Maximum leverage: The maximum leverage of ThinkMarkets is as high as 2000:1. Leverage may vary based on jurisdiction and tradable assets.
- Minimum Deposit: The minimum deposit is as low as $0. However, the minimum deposit varies based on account type. ( Standard account: $0, Mini Account: $10, ThinkZero Account: $500)
- Account Types: Three ( Standard account, ThinkZero Account, Mini Account)
- Trading Fees: Spread starting from 1 pip for Standard Account or Commission 3.00 to 3.50 per lot for Razor Account on a Single Trip.
- Trading Fees: Spreads start from 0.4 pips for the standard account (No commission), and 2.52 pips for the Mini Account (no commission). The ThinkZero account has a spread of 0.0 pips with a commission of $3.5 per lot per side.
- PAMM/ MAM: Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Interactive Brokers
- Trading Instruments: 5000+Trading instruments including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, stocks, options, and Bonds
- Maximum leverage: 50:1 for US Clients, 30:1 for EU clients, and 400:1 for global clients.
- Minimum Deposit: The Interactive Brokers minimum deposit is $0 for a cash account, $2,000 for a T Reg margin account, and $110,000 for a portfolio margin account. The minimum deposit is subject to change depending on the trading account opened and the base currency selected.
- Trading Fees: spreads starting from as low as 0.1 pips, Stock fees USD 0.005 per share.
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed with Capitalise.ai
ThinkMarkets vs Interactive Broker: Pros and Cons
ThinkMarkets
Interactive Broker
- IBK is a Forex and Stock Broker
- Excellent reputation (founded in 1978)
- Regulated by top regulators like ASIC, FCA, FSA, SFC, IIROC
- A wide range of products offered warrants, ETFs, Options, Futures, Mutual Funds, Bonds
- Over 18,000 no-transaction-fee mutual funds.
- No monthly inactivity fee
- Low trading fees and high interest (up to 4.58% for USD) on cash balances
- Access to international markets and exchanges
- Mobile apps are convenient for individual investors.
- Complicated account opening
- Learning Curve for Beginners
- The maximum leverage is only 1:40
- No Metatrader platforms (MT4, MT5) offered
- High minimum deposit requirements for some account types
- Interactive Advisors (Robo-advisor feature) is only available for US customers
- No fixed spread is available
ThinkMarkets vs Interactive Broker: Side-by-Side Comparison
ThinkMarkets Vs Interactive Broker: Our Scores and Ratings
We rated both brokers, ThinkMarkets and Interactive Broker, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
ThinkMarkets :
Interactive Broker
Final Verdict :
ThinkMarkets and Interactive Brokers are regulated forex and CFD brokers in the industry. They offer similar trading services. Both brokers allow scalping, hedging, EA trading, and Copy trading. The minimum order size for both of them is 0.01.
However, there are a few areas where you may find some differences. For example, the minimum deposit for ThinkMarkets is $0., whereas the minimum deposit for Interactive Brokers is $0. Additionally, the maximum leverage for ThinkMarkets is 1:2000. In contrast, the maximum leverage for Interactive Brokers 1:500. ThinkMarkets offers passive investment programs like MAM and PAMM, while Interactive Brokers does not have any passive investment programs.
Our score for ThinkMarkets is 9.2, and for Interactive Brokers, it is 9.1 So, if you are looking for the most trusted forex brokers with MAM and PAMM services, you may choose ThinkMarkets. However, if you prefer another forex brokers that offer similar services, you may choose Interactive Brokers.
