ThinkMarkets vs Interactive Broker (2024)

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ThinkMarkets vs Interactive Broker: In a Nutshell

ThinkMarkets

ThinkMarkets is an Australian forex and CFD broker founded in 2010. Today, it has offices in 10 locations and 10 licenses from different countries. 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.

ThinkMarkets At a Glance

ThinkMarkets At a Glance
  • Founded In: 2010
  • 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 Broker has grown into a global brand with over 2.1 million clients. 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.

Interactive Brokers Overview
  • Founded In: 1978
  • 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 Broker: Pros and Cons

ThinkMarkets

Pros
  • Regulated by ASIC, FCA, CySEC, JFSA, FSA-S, DFSA 
  • The minimum deposit is as low as $1 
  • The Maximum Leverage is as high as 2000:1 
  • Allows scalping, EA trading, Copy trading
  • Offers social trading options PAMM, MAM Accounts
  • Negative balance protections for EU, UK, and Australian clients
  • Tight Spreads Starting From 0 pips 
  • MT4, MT5, and Thinktrader trading platforms are offered 
Cons
  • Only Forex and CFDs are offered (not real assets).
  • There is no investment protection scheme for Global traders.
  • Ctrader and TradingView are not offered.
  • No bonuses or promotional offerings are available.
  • Conditions may vary according to regulation and entity.
  • Offshore Entity for international traders 

Interactive Broker

Pros
  • 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.
Cons
  • 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 :

9.2
Total Score
Regulation and Security (40%)9.8
Fees and Commissions (20%)8.4
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)9.5
Trading Education (5%)9

Interactive Broker

9.1
Interactive Brokers Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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