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 LCG 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. TD Ameritrade FX's score is 4 stars versus LCG's 3 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. LCG and TD Ameritrade FX both are regulated in a major hub. LCG and TD Ameritrade FX are publicly traded companies. How many currency pairs are available to trade? LCG offers its clients access to 82 different currency pairs while TD Ameritrade FX has 75 available pairs, a difference of 7.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. LCG makes Meta Trader available to clients, while TD Ameritrade FX does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. LCG boasts an offering of 31 charting tools compared to TD Ameritrade FX's 20 available charting tools. TD Ameritrade FX boasts an offering of 403 different indicators (for example, moving averages) compared to LCG's 51 available indicators.
Overall, TD Ameritrade FX takes the upper hand with 4.5 stars over LCG's 4 stars. And, when it comes to individual category awards, TD Ameritrade FX was rated Best in Class - Platforms & Tools in 2018, while LCG was rated none of these.