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Head to head
ThinkMarkets or IC Markets? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.
One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
Four decision axes, each derived from the recorded data.
Overall IC Markets takes it, 4.2 against 4.1 out of 5. The two pricing models cannot be converted like for like; the fee rows in the table carry the detail. ThinkMarkets scores 79 against 70 out of 100 on the group index. Your account's protection depends on its legal entity. IC Markets covers more ground with 9 of 14 asset classes against 8. On platform and app ThinkMarkets is ahead, 4.4 against 4.1 out of 5. Which one is right depends on which of these axes matters for your trading profile.
Up to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 4.1 | 4.2 — Better |
| Group index | 79 of 100 | 70 of 100 |
| Best for | Active FX tradersMobile-first tradersRaw-spread scalpingShare CFD breadthCopy trading | Algorithmic and EA tradersScalping and high-frequency FXcTrader usersHigh-volume tradersCopy trading |
| Regulation | FCAASICJFSACySECFSCAFSA | ASICCySECFSCAFSASCBCMA |
| Top-tier licences | 3 — Better | 1 |
| Investor protection | £85,000 — Better | €20,000 |
| Listed group | No | No |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | Yes | Yes |
| Audited financials | No | Yes |
| Disclosed regulatory actions | None | 1 |
| Founded | 2010 | 2007 |
| Headquarters | London, GB | Sydney, AU |
| Fees | 4.4 | 4.7 — Better |
| Safety & regulation | 4.1 — Better | 3.9 |
| Trading platform | 4.3 | 4.5 — Better |
| Product range | 3.9 — Better | 3.7 |
| Mobile app | 4.5 — Better | 3.6 |
| Research | 3.6 | 3.6 |
| Customer support | 3.9 | 4.5 — Better |
| Deposit & withdrawal | 3.8 | 4.4 — Better |
| Account opening | 4.4 — Better | 4.3 |
| Education | 3.2 | 3.3 — Better |
| Reference order EUR 5,000 | €5.00 | 0.1 % (CFD) |
| Minimum deposit | None — Better | €200 |
| Stocks (per order) | in the spread | 0.1 % (CFD) |
| US stocks | in the spread | US$0.02/share (CFD) |
| ETFs | in the spread | Not offered |
| Options | Not offered | Not offered |
| Futures | Not offered | in the spread |
| Crypto | in the spread | in the spread |
| Bonds (order) | n/a | in the spread |
| Funds (order) | n/a | n/a |
| EUR/USD spread | 1.1 pips | 0.8 pips — Better |
| Index CFD spread | n/a | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | £10 · after 6 months | €10 · after 6 months — Better |
| Custody fee | n/a | None |
| Withdrawal fee | free | free |
| Deposit fee | Free on every published method except PayPal deposits in Australia, which carry a 2.5 percent charge. | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 8 | 9 — Better |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | Yes | No |
| Options | No | No |
| Futures | No | Yes |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | No | Yes |
| Funds | No | No |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | No |
| Spread betting | No | No |
| Social trading | Yes | Yes |
| Platforms | ThinkTraderThinkTrader mobileMetaTrader 4MetaTrader 5TradingViewThinkCopy and ZuluTrade | MetaTrader 4MetaTrader 5cTraderTradingViewIC Markets appFIX API |
| Demo account | Yes | Yes |
| Fractional shares | No | No |
| Maximum leverage | 1:30 · Pro 1:500 | 1:30 · Pro 1:500 |
| Account opening | Fully digital, commonly approved the same business day | Digital application, usually approved within one business day |
| Account types | StandardThinkZeroIslamic (swap-free)Demo | Raw Spread (MT4/MT5)cTrader RawStandardRaw ProRaw Pro+Swap-free |
| Payment methods | Bank transferSEPACredit cardDebit cardPayPalSkrillNetellerApple PayGoogle PayCrypto | Bank transferSEPACredit cardDebit cardPayPalSkrillNetellerApple PayGoogle PayCrypto |
| Account currencies | USDEURGBPAUDCHFSGDNZD | EURUSDGBP |
| Deposit time | Instant for cards and e-wallets, 1-3 business days by bank transfer | Instant to 12 hours on cards and e-wallets, 1-3 business days by bank transfer |
| Withdrawal time | Processed within 24 hours by the broker, then 1-7 business days to reach your account | Same day to 1 business day on e-wallets and crypto, 2-5 business days by bank wire |
| Free withdrawals | n/a | n/a |
| Languages | EnglishGermanSpanishFrenchItalianPortugueseChineseArabicJapaneseThai | EnglishGermanSpanishFrenchItalianPortugueseChineseVietnameseThaiArabic |
| Channels | PhoneEmailLive chat | PhoneEmailLive chat |
| Availability | 24/5 for clients of the FCA and ASIC entities | 24/7 |
Editorial assessment based on the recorded data.
ThinkMarkets
Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.
Pros
Cons
Best for
IC Markets
One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.
Pros
Cons
Best for
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Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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