IC Markets vs ThinkMarkets Forex Broker Comparison
A head-to-head comparison of IC Markets and ThinkMarkets across regulation, trading costs, platforms, and editorial scoring.
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
VS
Score 4.2 / 5
2 bonusesNo minimum deposit on standard account, a highly rated ThinkTrader mobile app, and JFSA regulation for Japanese clients.
Our Verdict
IC Markets winsby 0.5 pts
IC Markets edges ahead with a score of 4.7/5 vs ThinkMarkets's 4.2/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
IC Markets offers tighter spreads from 0 pips vs 0.4 pips for ThinkMarkets, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for active traders
Recommended
IC Markets has a cost edge: tighter spreads from 0 pips.
Best for platform choice
Recommended
ThinkMarkets offers more exclusive platform options: Proprietary Web/Mobile, a proprietary platform.
Best for beginners
Recommended
IC Markets edges out ThinkMarkets with a higher editorial score (4.7/5 vs 4.2/5), indicating a stronger overall experience for new traders.
IC Markets vs ThinkMarkets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.7/ 5 | 4.2/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 4.3 / 5 |
Fees & Spreads 30% weight | 5.0 / 5▲ | 4.2 / 5 |
Platforms & Tools 20% weight | 4.6 / 5▲ | 4.2 / 5 |
Customer Support 10% weight | 4.5 / 5▲ | 4.0 / 5 |
| Founded | 2007 | 2010 |
| Headquarters | Sydney, Australia | London, United Kingdom |
| Min deposit | $200 | No minimum |
| Spreads from | 0 pips | 0.4 pips |
| Commission / lot | $7/lot | $7/lot |
| Max leverage | 500:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FSCA ASIC CySEC | FCA FSCA ASIC JFSA |
| Platforms | MetaTrader 4 MetaTrader 5 cTrader TradingView | MetaTrader 4 MetaTrader 5 Proprietary Web/Mobile TradingView |
| Active bonuses | ||
| Visit broker | Visit IC Markets | Visit ThinkMarkets |
IC Markets vs ThinkMarkets Forex Broker Pros & Cons
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
No minimum deposit on standard ThinkForex account
ThinkTrader proprietary app is well-reviewed for mobile trading
JFSA regulation for Japanese clients
Strong multi-region regulatory coverage
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
Cons
ThinkZero account requires $500 minimum deposit
Standard account is spread-only and not competitive for scalpers
Not available to US residents
IC Markets vs ThinkMarkets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
0
IC Markets
criteria wins
1
ThinkMarkets
criteria win
Highlighted rows show where the two brokers differ
| Criteria | IC Markets | ThinkMarkets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
IC Markets vs ThinkMarkets: Frequently Asked Questions
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 4.2/5 for ThinkMarkets. The best choice still depends on your individual trading needs; IC Markets and ThinkMarkets may each suit different trader profiles.
IC Markets offers tighter spreads starting from 0 pips, compared to ThinkMarkets's spreads from 0.4 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
ThinkMarkets has a lower minimum deposit of no minimum required, while IC Markets requires at least $200. This makes ThinkMarkets more accessible for traders with limited starting capital.
Both IC Markets and ThinkMarkets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: ThinkMarkets has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
IC Markets offers maximum leverage of 500:1, while ThinkMarkets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
Both IC Markets and ThinkMarkets charge the same commission of $7 per lot on applicable accounts.
IC Markets supports MetaTrader 4, MetaTrader 5, cTrader, TradingView and ThinkMarkets offers MetaTrader 4, MetaTrader 5, Proprietary Web/Mobile, TradingView; both support MetaTrader 4, MetaTrader 5, TradingView; IC Markets exclusively offers cTrader; ThinkMarkets exclusively offers Proprietary Web/Mobile.
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Score 4.2 / 5
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