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 Plus500 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. TD Ameritrade FX is a better option with a 4.00 star rating over Plus500's 3.00 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. Plus500 and TD Ameritrade FX both are regulated in a major hub. Both Plus500 and TD Ameritrade FX are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. TD Ameritrade FX offers its clients access to 77 different currency pairs while Plus500 has 60 available pairs, a difference of 17.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Plus500 nor TD Ameritrade FX offers Meta Trader. 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 boasts an offering of 20 charting tools compared to Plus500's 0 available charting tools. 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 posted awards Best in Class - Mobile Trading in 2018, while Plus500 found itself with none of these.