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TD Ameritrade Forex vs FX Choice (MyChoiceFX) 2019

Is FX Choice (MyChoiceFX) better than TD Ameritrade Forex? After assessing the best forex brokers on nearly 100 different variables, TD Ameritrade Forex is better than FX Choice (MyChoiceFX). 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 solution.
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 FX Choice (MyChoiceFX)
Overall 4.5 2.5
TD Ameritrade Forex Review FX Choice (MyChoiceFX) Review
N/A of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Trust Score 96 54
Year Founded
1955 2010
Publicly Traded (Listed)
Yes No
Bank
Yes No
Tier-1 Licenses
5 0
Tier-2 Licenses
0 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes No

Tier-1 Licenses

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
ASIC Authorised (Australia)
No No
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 No
CFTC Registered (USA)
Yes No

Investments

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
75 38
CFDs - Total Offered
0 12
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
No Yes
Offering of Investments 4 2
Winner check_circle

Cost

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Average Spread EUR/USD - Standard
1.065 pips (Sep 2019) N/A
All-in Cost EUR/USD - Active
1.065 pips (Sep 2019) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 2.5
Winner check_circle

Funding

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Minimum Initial Deposit
$0.00 $100
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

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

Trading Tools

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
548 7
Charting - Indicators / Studies (Total)
382 51
Charting - Drawing Tools (Total)
20 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4.5 3
Winner check_circle

Mobile Trading

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
No Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
397 30
Charting - Draw Trend Lines
No Yes
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes No
Mobile Trading 4 2.5
Winner check_circle

Research

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No No
AutoChartist
No No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes
Research 4.5 2.5
Winner check_circle

Education

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
Has Education - Forex
Yes No
Has Education - CFDs
No No
Client Webinars
Yes No
Client Webinars (Archived)
No No
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
No No
Investor Dictionary (Glossary)
Yes No
Education 4 2
Winner check_circle

Major Forex Pairs

Feature TD Ameritrade Forex FX Choice (MyChoiceFX)
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 FX Choice (MyChoiceFX)
TD Ameritrade Forex Review FX Choice (MyChoiceFX) Review
Overall 4.5 2.5
Winner check_circle
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare FX Choice (MyChoiceFX) vs TD Ameritrade Forex.

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. TD Ameritrade Forex received a rating of 4.00 stars over FX Choice (MyChoiceFX)'s 2.50 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. TD Ameritrade Forex is regulated in a major hub while FX Choice (MyChoiceFX) is not. TD Ameritrade Forex is a publicly traded company, FX Choice (MyChoiceFX) isn't. As far as how many currency pairs are available for trading, here's the answer. TD Ameritrade Forex boasts an offering of 75 different currency pairs compared to FX Choice (MyChoiceFX)'s 38 available pairs.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FX Choice (MyChoiceFX) makes Meta Trader available to clients, while TD Ameritrade Forex does not. 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. FX Choice (MyChoiceFX) boasts an offering of 31 charting tools compared to TD Ameritrade Forex's 20 available charting tools. FX Choice (MyChoiceFX) trails TD Ameritrade Forex by 331 total different indicators (for example, moving averages), with TD Ameritrade Forex offering 382 and FX Choice (MyChoiceFX) offering 51.

FX Choice (MyChoiceFX) Review
TD Ameritrade Forex Review


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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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