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TD Ameritrade Forex vs eToro 2020

Is eToro better than TD Ameritrade Forex? After testing 30 of the best forex brokers over five months, TD Ameritrade Forex is better than eToro. With nearly 80 currency pairs to trade alongside a plethora of trading tools and research, TD Ameritrade’s thinkorswim platform provides US-based forex traders a winning experience.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Overall Rating

Feature TD Ameritrade Forex eToro
Overall 4.5 4
TD Ameritrade Forex Review eToro Review
N/A of retail CFD accounts lose money 62% of retail CFD accounts lose money

Regulation

Feature TD Ameritrade Forex eToro
Trust Score 96 91
Year Founded
1955 2007
Publicly Traded (Listed)
Yes No
Bank
Yes No
Tier-1 Licenses
5 2
Tier-2 Licenses
0 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature TD Ameritrade Forex eToro
ASIC Authorised (Australia)
No Yes
IIROC Authorised (Canada)
No No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes No

Investments

Feature TD Ameritrade Forex eToro
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
75 47
CFDs - Total Offered
0 1980
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4.5 4.5
Winner check_circle

Cost

Feature TD Ameritrade Forex eToro
Average Spread EUR/USD - Standard
1.065 pips (Sep 2019) 3 (as of May 19)
All-in Cost EUR/USD - Active
1.065 pips (Sep 2019) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 3
Winner check_circle

Funding

Feature TD Ameritrade Forex eToro
Minimum Initial Deposit
$0.00 $200
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature TD Ameritrade Forex eToro
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes No
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
No No
MetaTrader 5 (MT5)
No No
cTrader
No No

Trading Tools

Feature TD Ameritrade Forex eToro
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
548 6
Charting - Indicators / Studies (Total)
382 66
Charting - Drawing Tools (Total)
20 13
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 4
Winner check_circle

Mobile Trading

Feature TD Ameritrade Forex eToro
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
No Yes
Alerts - Basic Fields
Yes No
Watch List
Yes Yes
Watch List Syncing
Yes Yes
Charting - Indicators / Studies
397 5
Charting - Draw Trend Lines
No No
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4.5 4
Winner check_circle

Research

Feature TD Ameritrade Forex eToro
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
No No
AutoChartist
No No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
No Yes
Economic Calendar
Yes Yes
Research 4.5 4
Winner check_circle

Education

Feature TD Ameritrade Forex eToro
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
Client Webinars (Archived)
No No
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
No Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 4
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Major Forex Pairs

Feature TD Ameritrade Forex eToro
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature TD Ameritrade Forex eToro
TD Ameritrade Forex Review eToro Review
Overall 4.5 4
Winner check_circle
Our ForexBrokers.com team spent several months and hundreds of hours assessing 30 different forex broker accounts for trading FX. In total, over 3,180 data points were collected. For this review, we will compare eToro vs TD Ameritrade Forex.

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. TD Ameritrade Forex's score is 4.00 stars versus eToro's 3.00 stars.

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. eToro alongside TD Ameritrade Forex are regulated in a major hub. TD Ameritrade Forex is a publicly traded company, while eToro is not. How many currency pairs are available to trade? TD Ameritrade Forex boasts an offering of 75 different currency pairs compared to eToro's 47 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. Neither eToro and TD Ameritrade Forex offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. eToro trails TD Ameritrade Forex by 7 total charting tools, with TD Ameritrade Forex offering 20 and eToro offering 13. TD Ameritrade Forex offers its clients access to 382 different indicators (for example, volume) while eToro has 66 available indicators, a difference of 316.

eToro Review
TD Ameritrade Forex Review


Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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