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 FXCM 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. Both FXCM and TD Ameritrade FX hold a 4.00 star rating.
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. FXCM and TD Ameritrade FX both are regulated in a major hub. Both FXCM and TD Ameritrade FX are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. FXCM trails TD Ameritrade FX by 38 total currency pairs (for example, EUR/USD), with TD Ameritrade FX offering 77 and FXCM offering 39.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM has Meta Trader, TD Ameritrade FX doesn't. 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. FXCM boasts an offering of 31 charting tools compared to TD Ameritrade FX's 20 available charting tools. TD Ameritrade FX boasts an offering of 377 different indicators (for example, moving averages) compared to FXCM's 51 available indicators.
Overall, both FXCM and TD Ameritrade FX share a rating of 4.50 stars. And, when it comes to individual category awards, TD Ameritrade FX posted awards Best in Class - Mobile Trading in 2018, while FXCM found itself with Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education.