Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare City Index vs TD Ameritrade FX.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Both City Index and TD Ameritrade FX hold a 4.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. City Index and TD Ameritrade FX both are regulated in a major hub. Both City Index and TD Ameritrade FX are publicly traded companies. How many currency pairs are available to trade? TD Ameritrade FX trails City Index by 7 total currency pairs (for example, EUR/USD), with City Index offering 84 and TD Ameritrade FX offering 77.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. City Index has Meta Trader, TD Ameritrade FX doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. TD Ameritrade FX trails City Index by 5 total charting tools, with City Index offering 25 and TD Ameritrade FX offering 20. City Index trails TD Ameritrade FX by 238 total different indicators (for example, moving averages), with TD Ameritrade FX offering 377 and City Index offering 139.
Overall, both City Index and TD Ameritrade FX are rated 4.50 stars. And, when it comes to individual category awards, TD Ameritrade FX posted awards Best in Class - Mobile Trading in 2018, while City Index found itself with none of these.