After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare CMC Markets vs TD Ameritrade FX.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. CMC Markets received a rating of 5.00 stars over TD Ameritrade FX's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. CMC Markets alongside TD Ameritrade FX are regulated in a major hub. CMC Markets alongside TD Ameritrade FX are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. CMC Markets boasts an offering of 183 different currency pairs compared to TD Ameritrade FX's 77 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Neither CMC Markets and TD Ameritrade FX offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. CMC Markets offers its clients access to 24 charting tools while TD Ameritrade FX has 20 charting tools, a difference of 4. TD Ameritrade FX boasts an offering of 377 different indicators (for example, moving averages) compared to CMC Markets's 74 available indicators.
Overall, both CMC Markets and TD Ameritrade FX hold a 4.50 star rating. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Mobile Trading in 2018, while CMC Markets came up with Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading.