ThinkMarkets vs XTrade Comparison
ThinkMarkets
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of ThinkMarkets and XTrade
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 4/5 | 3.3/5 |
| Foundation Year | 2009 | 2003 |
| Regulated in Countries | Seychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman Islands | Belize |
| Minimum Deposit |
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| Spread | from 0 points | from 1 points |
| Max Leverage | 1:500 | 1:400 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | ThinkMarkets Review | XTrade Review |
ThinkMarkets suits traders who value attractive trading conditions, a wide range of products, analytical tools, and educational materials.
Xtrade is suitable for traders who value a simple interface, bonus programs, and access to education and analytics.
ThinkMarkets Review
ThinkMarkets is a highly regulated broker with licenses from the FCA and ASIC, confirming its reliability and operations transparency. The broker offers a wide range of trading platforms suitable for beginners and experienced traders. Extensive analytical resources and educational materials help traders to develop their skills and improve trading efficiency. Round-the-clock support ensures that help is always available, no matter the time of day.
ThinkMarkets is ideal for traders who are looking for a reliable and well-regulated broker with a variety of technological solutions and analytical tools. The broker is especially suitable for active traders who are willing to invest time in learning the market through the training materials offered.
Pros and Cons of ThinkMarkets
Pros
- Wide range of trading platforms.
- Strong analytical support.
- Extensive educational materials.
- 24/7 technical support.
Cons
- Limited choice of trading accounts.
- Withdrawal fees and account inactivity fees.
XTrade Review
Xtrade offers a wide range of deposit and withdrawal methods, an extensive range of markets and trading products, and a variety of analytical tools. The broker is equipped with an extensive training center, which makes it attractive for novice traders who want to expand their knowledge and improve their trading skills. Responsive and feature-rich customer support enhances the usability of the broker's services.
Xtrade is suitable for novice traders, thanks to its accessible educational resources and wide range of trading products. However, potential clients should pay special attention to regulatory issues and trading costs before deciding to start working with this broker.
Pros and Cons of XTrade
Pros
- Wide range of deposit and withdrawal methods.
- Extensive selection of markets and products for trading.
- Diversity of analytical tools.
- Comprehensive educational center with various materials.
- Responsive and multifunctional technical support.
Cons
- Weak regulation may raise concerns about the security of client funds.
- Limited variety of accounts and services offered.
- Wide spreads, which can increase trading costs.
- Long processing time for withdrawal requests.
- Lack of alternatives to the offered trading platform, limiting traders' choices.
Reliability
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Reliability | 5/5 | 3.2/5 |
| Foundation Year | 2009 | 2003 |
| Regulated in Countries | Seychelles, United Kingdom, Australia, Cyprus, South Africa, Japan, Cayman Islands | Belize |
| Regulators | SFSA SFSA - FCA FCA ASIC ASIC CySEC CySEC FSCA FSCA JFSA JFSA CIMA CIMA | - BFSC BFSC |
ThinkMarkets
The presence of licenses from authoritative regulators and a good reputation speak to the reliability of ThinkMarkets.
XTrade
The reliability of Xtrade International Ltd is questionable due to the lack of licenses from strict regulators, despite having a license from the Belize FSC.
Pros
- Segregated client accounts.
- Investor compensation fund.
Cons
- Lack of licenses from strict regulators.
Account Opening
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Account Opening | 4/5 | 4/5 |
| Minimum Deposit |
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ThinkMarkets
The account opening process at ThinkMarkets is simple and convenient. However, due to the possible verification process taking up to 2 days, the account opening process may not be as fast as desired.
XTrade
Account opening at Xtrade is fairly standard and transparent.
Pros
- Free and fast account opening.
- Clear verification instructions.
Cons
- High minimum deposit.
- Verification can be lengthy.
Account Types
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Account Types | 3.3/5 | 2.3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 1 points |
| Max Leverage | 1:500 | 1:400 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
ThinkMarkets
ThinkMarkets offers two main types of accounts, but the variety of accounts is limited, and there are no accounts for certain groups of traders.
Pros
- Free VPS
- Ability to copy trades of successful traders
Cons
- Lack of cent accounts and fixed spread accounts
- No Islamic account
XTrade
Xtrade offers a variety of accounts, but does not satisfy the needs of all categories of traders.
Pros
- Four types of accounts for different traders.
- Reduced spreads for Premium and VIP accounts.
Cons
- Absence of cent and Islamic accounts.
- No accounts with fixed spreads.
- Lack of copy trading service.
Commissions
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Commissions | 2.3/5 | 2/5 |
| Spread | from 0 points | from 1 points |
| Average Spread (EURUSD) | 1.2 | 3 |
| Commission per Lot | $3.5 |
ThinkMarkets
ThinkMarkets has average market commissions, making it accessible for most traders. However, it should be noted that the broker charges some non-trading commissions.
Pros
- Transparent commission structure.
Cons
- Conversion fee for withdrawals in a currency other than the base currency.
- Inactivity fee.
XTrade
Commissions at Xtrade are relatively high, which can increase a trader's costs.
Pros
- No withdrawal fee.
Cons
- High spreads.
- Inactivity fee of 50 USD.
Deposit and Withdrawal
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 4/5 | 3.5/5 |
| Account Funding Methods |
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ThinkMarkets
The broker offers convenient methods for depositing and withdrawing funds, most of which are commission-free, however, there may be delays in withdrawals.
Pros
- Wide selection of deposit and withdrawal methods.
- No commission for most deposit and withdrawal cases.
Cons
- Conversion fee for withdrawals in a currency other than the base currency.
- Potential long withdrawal times due to meticulous transaction verification
XTrade
Xtrade offers a variety of deposit and withdrawal methods, but with lengthy processing times.
Pros
- Wide selection of payment systems.
- No fees on many methods.
Cons
- Long withdrawal processing time.
- Absence of cryptocurrencies.
Markets and Products
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Markets and Products | 5/5 | 5/5 |
| Forex | 46 | 57 |
| Precious Metals | 10 | 9 |
| Energy Carriers | 3 | 5 |
| Soft Commodities | 3 | 7 |
| Indices | 15 | 25 |
| Stocks | 3305 | 300 |
| ETF | 364 | 13 |
| Cryptocurrency | 21 | 52 |
| Bonds | - | 5 |
ThinkMarkets
ThinkMarkets offers a highly diverse range of trading instruments.
XTrade
Xtrade offers an extensive selection of markets and products, meeting the needs of various traders.
Pros
- Wide range of currency pairs.
- Numerous CFDs on stocks from different countries.
- Availability of cryptocurrencies.
Trading Platforms
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 5/5 | 3.5/5 |
| Trading Platforms |
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ThinkMarkets
ThinkMarkets offers a wide selection of platforms, including popular MetaTrader 4 and MetaTrader 5, as well as proprietary developments such as ThinkTrader and ThinkCopy.
XTrade
Xtrade offers a functional and user-friendly platform.
Pros
- Web platform with no download required.
- Full-featured mobile application.
Cons
- Lack of popular platforms such as MT4 or MT5.
- Limited choice of platforms.
- No desktop version of the platform.
Analytics
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
ThinkMarkets
ThinkMarkets provides high-quality analytical tools, making trading informative and productive.
Pros
- Extensive set of market analysis tools.
- Availability of Traders' Gym for strategy testing.
- Daily trading signals and market news.
Cons
- Some tools are only available for certain types of accounts.
XTrade
Xtrade's analytics are well-developed, providing traders with a variety of market analysis tools.
Pros
- Daily video analysis.
- Economic calendar and up-to-date news.
- Specialized calculators for technical analysis.
Cons
- Lack of regular reviews from experts.
- No trading signals.
Education
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 4.7/5 | 4/5 |
ThinkMarkets
ThinkMarkets offers high-quality educational materials covering a wide range of topics.
Pros
- Wide range of topics in articles.
- Webinars from experts.
- Materials for traders of all levels.
Cons
- Lack of video tutorials.
XTrade
Xtrade provides extensive educational materials covering various levels of complexity.
Pros
- Wide range of topics.
- Materials for beginners and professionals.
- Availability of video tutorials and e-books.
Cons
- Lack of webinars.
- Some topics may require deeper study.
Customer Support
| Broker | ThinkMarkets | XTrade |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Twitter
Facebook
YouTube
LinkedIn
InstagramThinkMarkets
ThinkMarkets offers a wide range of communication channels with support, including phone numbers in different countries, email, and online chat. Additionally, support is available 24/7, ensuring prompt assistance at any time of the day.
XTrade
Xtrade's customer support is responsive and diverse, but there are minor communication issues.
Pros
- Variety of communication channels.
- 24/5 availability during weekdays.
- Quick and professional response.
Cons
- Some reviews indicate problems with resolving disputes.
