Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

ThinkMarkets vs WM Markets

ThinkMarkets is licensed by FCA in the United Kingdom; CySEC in the European Union; ASIC in Australia; DFSA in Dubai (DIFC), UAE and FSCA in South Africa, and also has an offshore registration. WM Markets has no licence we could confirm on a regulator's register. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $10 at ThinkMarkets (the Standard account needs $50) and $50 at WM Markets. Only WM Markets offers negative balance protection. Both offer segregated client money.

Facts last checked: ThinkMarkets on 20 October 2026, WM Markets on 20 October 2026.

ThinkMarkets profileWM Markets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
ThinkMarketsStrictly regulatedRead the profile
WM MarketsRead the profile
Comparing
ThinkMarketsStandard account · United Kingdom
WM Markets

Overview

Founded
2010
Not yet checked
Headquarters
Not yet checked
Fomboni, Mwali (Comoros)
Official websites
  • thinkmarkets.com
  • wmmarkets.com
  • en.wmmarkets.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
TF Global Markets (UK) Limited
No licence listed
Regulator
FCA
United Kingdom
No licence listed
Regulation level
Strictly regulated
No licence listed
Licence number
629628
Check the register
No licence listed
Clients this company serves
UK residents
No licence listed
All licences held
  • FCA (United Kingdom)
  • CySEC (European Union)
  • ASIC (Australia)
  • DFSA (Dubai (DIFC), UAE)
  • FSCA (South Africa)
  • FSA Seychelles (Seychelles)
None listed
Segregated client money
Yes
Yes
Negative balance protection
No
Yes
Compensation scheme
FSCS up to £85,000 (UK); ICF up to €20,000 (Cyprus); none for the Seychelles company
None

Costs

Your monthly cost
$110$11 per lot × 10 lots
No accounts listed
Cost per lot (EUR/USD)
$11
No accounts listed
Spread from
0.4 pips
No accounts listed
Typical EUR/USD spread
1.1 pips
No accounts listed
Commission per lot (round turn)
None
No accounts listed
Typical GBP/USD spread
1.3 pips
Not yet checked
Typical USD/JPY spread
1.4 pips
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
1:30 on major pairs (UK, EU, Australia); up to 500:1 (2500:1 on ThinkTrader) at the Seychelles company
Up to 1:2000 (dynamic, set per instrument)
Retail leverage by asset class
  • Major currency pairs (UK: 1:30
  • Currency pairs: up to 500:1
  • ThinkTrader account (Seychelles company): up to 2500:1
Not yet checked
Margin call level
Not yet checked
100%
Stop-out level
50% (forced liquidation level)
20%

Account

Minimum deposit (this account)
$50
No accounts listed
Base currencies
USD, USDt, AUD, GBP, EUR, SGD, CHF
No accounts listed
Execution
Spread only, no commission (MT4, MT5)
No accounts listed

Platforms and features

Platforms
  • ThinkTrader
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
Markets
Forex, commodities, indices, crypto, stocks, ETFs and futures CFDs (up to 4,000 instruments on ThinkTrader)
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Bank wire
  • Visa
  • Mastercard
  • Apple Pay
  • Google Pay
  • Neteller
  • Crypto
Not yet checked
Withdrawal fee
No fee on any funding method (international site)
Not published; the agreement allows transfer-related and termination fees
Inactivity fee
Not yet checked
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)

Support

Customer support
Not yet checked
24/5 multilingual support by live chat

Our notes

Strengths
  • Licensed by the FCA, CySEC and ASIC, with client money in segregated accounts
  • Publishes target (typical) spreads for the Standard account, such as 1.1 pips on EUR/USD
  • No deposit or withdrawal fees on the international site's funding methods
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
Watch out for
  • International clients join TF Global Markets Int Limited in the Seychelles (offshore tier), where leverage goes up to 2500:1 on ThinkTrader and losses can exceed deposits
  • ThinkMarkets also says it is licensed by CIMA, an FSC, an FMA and (on its South African company) FSCA FSP 49835, without naming every company; we could not confirm these on 2026-10-20. Its FSCA OTC derivative provider approval is confirmed.
  • The ThinkZero minimum deposit is shown as $100 on the account types page and $500 on the ThinkZero page; ask before you fund.
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • ThinkMarkets: Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary.
  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel