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. City Index is a better option with a 4.5 star rating over TD Ameritrade FX's 4 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. Both City Index and TD Ameritrade FX 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? City Index boasts an offering of 84 different currency pairs compared to TD Ameritrade FX's 75 available pairs.
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 offers Meta Trader while TD Ameritrade FX does not. 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. TD Ameritrade FX boasts an offering of 403 different indicators (for example, moving averages) compared to City Index's 139 available indicators.
Overall, TD Ameritrade FX comes out on top with 4.5 stars over City Index's 4 stars. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Platforms & Tools in 2018, while City Index came up with none of these.