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 Plus500 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 received a rating of 4.00 stars over Plus500's 3.00 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. Both Plus500 and TD Ameritrade FX are regulated in a major hub. Plus500 and TD Ameritrade FX are publicly traded companies. How many currency pairs are available to trade? Plus500 trails TD Ameritrade FX by 17 total currency pairs (for example, EUR/USD), with TD Ameritrade FX offering 77 and Plus500 offering 60.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Neither offers Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Plus500 trails TD Ameritrade FX by 20 total charting tools, with TD Ameritrade FX offering 20 and Plus500 offering 0. TD Ameritrade FX offers its clients access to 377 different indicators (for example, volume) while Plus500 has 103 available indicators, a difference of 274.
Overall, TD Ameritrade FX boasts 4.50 stars versus Plus500's 3.00 stars. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Mobile Trading in 2018, while Plus500 came up with none of these.