IFX Brokers vs. ThinkMarkets

IFX Brokers vs. ThinkMarkets

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs. ThinkMarkets.

Which offers better pricing – IFX Brokers or ThinkMarkets?

Both IFX Brokers and ThinkMarkets offer similarly tight spreads averaging at 0.2 pips for the EUR/USD currency pair. ThinkMarkets does not charge commission, while IFX Brokers charges competitively priced commissions at 6 USD per trade.

Which broker offers more security when trading Forex and CFDs?

The Financial Sector Conduct Authority (FSCA) in South Africa, where IFX Brokers is headquartered, regulates the company extensively.

Trading Forex and CFDs with IFX Brokers is risk-free since the company protects its customers’ money by keeping it in a separate bank account from its own and because it complies with all applicable regulations.

South Africans who are interested in trading can do so with confidence at ThinkMarkets. Locally, it is regulated by the Financial Sector Conduct Authority (FSCA) and it also retains regulation from top international authorities, such as Australia’s ASIC and the Financial Conduct Authority of the United Kingdom.

Traders from South Africa will do their business through TF Global Markets (South Africa) Pty Ltd, a company that is authorized and regulated by the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) is an esteemed regulatory body that checks to see that ThinkMarkets retains all customer assets in top-tier banks in South Africa, where they are kept separate from corporate funds.

Additionally, it guarantees that ThinkMarkets will be audited on a regular basis in order to check that customers are being handled fairly.

Which broker offers the superior trading platform?

IFX Brokers is a dedicated MetaTrader broker that offers access to both MT4 and MT5, while the broker’s MT4 platform is an upgraded version with an additional 85 technical indicators.

As such, both beginner and advanced traders will have access to an excellent selection of trading software from IFX Brokers which is widely regarded as the gold standard in Forex trading.

In addition to ThinkMarkets’ own proprietary trading platform, ThinkTrader, it supports MetaTrader 4 and MetaTrader 5, which are, respectively, the most widely used trading platforms in the foreign exchange market.

In addition to the desktop applications that are offered for Windows and Mac, ThinkMarkets also provides MT4 and MT5 WebTerminal, which are web-based versions of the platforms, as well as mobile and tablet adaptations of both versions of the software.

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and ThinkMarkets provide traders with access to MetaTrader 4 and MetaTrader 5.

How many Forex pairs can I expect from these brokers?

IFX Brokers takes the lead in terms of the variety of available Forex pairs, offering access to 60 pairs while ThinkMarkets provides access to 46 currency pairs.

Is it safe to trade with IFX Brokers?

Forex trading with IFX Brokers, a company established in South Africa, is safe and secure because the company carries a valid license from the Financial Sector Conduct Authority (FSCA).

The Financial Sector Conduct Authority (FSCA) is the government agency responsible for overseeing the country’s financial system.

In order to protect investors and ensure that financial markets function fairly and efficiently, the Financial Sector Conduct Authority (FSCA) promotes fair treatment of market participants and provides education on a wide range of financial topics.

Is it safe to trade with ThinkMarkets?

Yes, traders from South Africa can feel secure using ThinkMarkets as their broker of choice. Locally, it is regulated by the Financial Sector Conduct Authority (FSCA), and it also retains regulation from top international authorities, such as Australia’s ASIC and the Financial Conduct Authority of the United Kingdom.

Who is IFX Brokers?

When you think of online trading, chances are you think of IFX Brokers, a firm headquartered in South Africa. The core values of the business are dedication, transparency, and trust.

For online trading of currency pairs, indices, commodities, energy metals, and futures, among other financial instruments, the company offers the state-of-the-art MetaTrader 4 and 5 trading platforms to private and institutional traders.

Six distinct types of trading accounts are available with IFX Brokers. In addition, a trial account is available for your use.

Each of these accounts is supported by the broker’s robust trading platform, which provides access to over sixty currency pairings, gold and silver, oil and natural gas.

The IFX Islamic Account is a Swap-Free, Interest-Free, Riba-Free Account. With no interest, you won’t have to worry about paying any exchange fees for holding a position over the weekend.

Variation in the required minimum deposit between the various account types is possible. Minimum deposits vary by type of account, with basic accounts requiring $100, RAW accounts requiring $250, and Islamic accounts requiring $100.

Increased charting options and robust order management tools are available in Meta Trader 4 and 5 for IFX.

These systems also provide a plethora of chart types, in-depth analysis, and a multilingual user interface. It’s also possible to alter the placement and size of the tabs as per your preferences.

One of the best MetaTrader expansion packs is provided by IFX, which includes 85 pre-installed indicators. This demonstrates IFX’s dedication to automated traders, a feature not currently available on the IFX platform.

Despite the fact that IFX’s MT4 trading platform lacks the MAM/PAMM module, duplicate trading is still possible. Both a desktop application for PCs and a mobile app for iPhones and Androids are available for use with the platform.

Who is ThinkMarkets?

ThinkMarkets, a global and FSCA-regulated broker, attracts seasoned investors thanks to its large array of trading tools and wide selection of tradable assets, but its trading expenses are more than usual for beginners.

Forex pairs, indices, commodities, 1500+ share CFDs, and 20+ crypto pairs are just some of the tradable assets offered by ThinkMarkets.

The ThinkMarkets Standard Account has high trading costs compared to other brokers, at $12 USD per lot EUR/USD. There is no minimum deposit requirement for this account. A ThinkZero account, which requires a minimum deposit of $500 US, offers more competitive pricing at $8 US per lot EUR/USD and may appeal to more seasoned traders.

ThinkMarkets provides VPS hosting, in addition to supporting MT4, MT5, and their own proprietary platform, ThinkTrader. Traders also get access to some of the top trading tools available, such as Trading Central and Zulutrade.

Account users can use Trading Central for free, however there is a monthly fee of $30 USD for the Zulutrade copy-trading service and a fee of $10 per month for the VPS service unless the trader trades more than 15 lots per month.

ThinkMarkets’ education package is aimed at traders of all skill levels and serves as an excellent entry point for newcomers.

The website does not provide daily market commentary, but the ThinkTrader platform does, along with comprehensive order management, risk management features, charts, and more.

ThinkMarkets is a good option for novice traders because of its user-friendly interface, extensive educational resources for investors of all skill levels, and semi-regular market research. The demo period on MT4 and MT5 will end after 90 days of inactivity, however the demo period on ThinkTrader does not expire.

ThinkMarkets offers a solid product suite, including two accounts and compatibility with all the major trading platforms.

The trading tools provided by ThinkMarkets are top-notch, and best of all, they’re completely free to use. This means that every trader can get the assistance they need to make more informed and profitable trades.