Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare IG Group vs TD Ameritrade FX.
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. IG Group is a better option with a 4.50 star rating over TD Ameritrade FX's 4.00 star rating.
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. Both IG Group and TD Ameritrade FX are regulated in a major hub. IG Group alongside TD Ameritrade FX are publicly traded companies. How many currency pairs are available to trade? TD Ameritrade FX trails IG Group by 14 total currency pairs (for example, EUR/USD), with IG Group offering 91 and TD Ameritrade FX offering 77.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. IG Group has Meta Trader, TD Ameritrade FX doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. IG Group offers its clients access to 31 charting tools while TD Ameritrade FX has 20 charting tools, a difference of 11. TD Ameritrade FX boasts an offering of 377 different indicators (for example, moving averages) compared to IG Group's 51 available indicators.
Overall, IG Group comes out on top with 5.00 stars over TD Ameritrade FX's 4.50 stars. And, when it comes to individual category awards, TD Ameritrade FX was rated Best in Class - Mobile Trading in 2018, while IG Group was rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education.