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 IC 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. Both IC Markets 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. Both IC Markets and TD Ameritrade FX are regulated in a major hub. TD Ameritrade FX is a publicly traded company while IC Markets is not. As far as how many currency pairs are available for trading, here's the answer. IC Markets trails TD Ameritrade FX by 14 total currency pairs (for example, EUR/USD), with TD Ameritrade FX offering 77 and IC Markets offering 63.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. IC Markets 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. TD Ameritrade FX trails IC Markets by 11 total charting tools, with IC Markets offering 31 and TD Ameritrade FX offering 20. TD Ameritrade FX boasts an offering of 377 different indicators (for example, moving averages) compared to IC Markets's 51 available indicators.
Overall, TD Ameritrade FX comes out on top with 4.50 stars over IC Markets's 4.00 stars. And, when it comes to individual category awards, TD Ameritrade FX posted awards Best in Class - Mobile Trading in 2018, while IC Markets found itself with none of these.