How do AvaTrade and ThinkMarkets stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare AvaTrade and ThinkMarkets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does AvaTrade or ThinkMarkets have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that AvaTrade holds three Tier 1 and no Tier 2 licences, and ThinkMarkets holds two Tier 1 and no Tier 2 licences.

 

Is AvaTrade financially regulated?

Yes AvaTrade was founded in 2006 and is regulated by ASIC, CBI, CySEC and FSCA.

 

Is ThinkMarkets financially regulated?

Yes ThinkMarkets was founded in 2010 and is regulated by ASIC, FCA, FSCA and FSA-Seychelles.

 

Based on these findings, 0 earned a higher trust rating than 0.

Does AvaTrade or ThinkMarkets have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that AvaTrade has overall lower trading costs than ThinkMarkets. 

 

Does AvaTrade or ThinkMarkets offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, 0 offers support for and 0 offers support for . 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both AvaTrade and ThinkMarkets offer copy trading.

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that AvaTrade offers a greater range and depth of instruments to trade than ThinkMarkets. AvaTrade offers 55 Forex pairs to trade and ThinkMarkets offers 46 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, ThinkMarkets offers 27 cryptocurrencies while AvaTrade offers 20 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with ThinkMarkets.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither AvaTrade nor ThinkMarkets charges a withdrawal fee. Overall, 0 has better deposit and withdrawal processes than 0. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

AvaTrade and ThinkMarkets both have very good educational support. Both AvaTrade and ThinkMarkets offer educational support for more experienced traders.

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both AvaTrade and ThinkMarkets offer frequent webinars.

 

Our overall Verdict on AvaTrade

In our review we found that Avatrade has a wide range of tradable assets, low trading fees, and a choice of four different trading platforms. Avatrade offers some of the best trading tools in the industry, alongside a world class selection of educational and market analysis materials, providing traders everything they need to make trading decisions.

Avatrade is also popular for its award-winning mobile app, AvatradeGO, which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.

One issue South African traders may have with Avatrade is that even though it is regulated by the South African FSCA and has a local South African support team, South Africans will be onboarded through Avatrade’s British Virgin Islands-based entity. This means that South African traders have no recourse in the event of a dispute with the company.

Our overall Verdict on ThinkMarkets

An internationally and FSCA-regulated broker, ThinkMarkets appeals to experienced traders who value a broad range of tradable assets and an extensive suite of trading tools, though trading costs are higher than average on its entry-level account. 

ThinkMarkets offers trading on a wider range of tradable assets than other brokers, including Forex pairs, indices, commodities, 3500+ share CFDs, and 20+ crypto pairs. The ThinkMarkets Standard Account, with no minimum deposit requirement, has high trading costs compared to other brokers, at 12 USD per lot EUR/USD. On the other hand, the 500 USD minimum deposit ThinkZero account delivers better pricing at 8 USD per lot EUR/USD, which may interest more experienced traders. 

ThinkMarkets offers support for the MT4, MT5, and in-house ThinkTrader platforms, and traders have access to some of the best trading tools in the industry, including Trading Central, Zulutrade, and a VPS hosting service. Trading Central is offered free of charge to account holders but the Zulutrade copy-trading service requires a subscription of 30 USD per month, and the VPS service has a subscription fee unless traders trade over 15 lots per month. 

The ThinkMarkets education package targets all traders levels and is a good place to start for beginners. Daily market commentary is missing from the website, but real-time news from FX Wire Pro is integrated into the ThinkTrader platform, along with advanced order management, risk management tools, charts, and more.

Which broker has the highest overall rating?

AvaTrade has an overall rating of 4.59 and ThinkMarkets has an overall rating of 4.43. For more detail please read our reviews of AvaTrade and ThinkMarkets.