To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare TD Ameritrade FX vs ThinkMarkets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. TD Ameritrade FX is a better option with a 4 star rating over ThinkMarkets's 3.5 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. TD Ameritrade FX and ThinkMarkets both are regulated in a major hub. TD Ameritrade FX is a publicly traded company, ThinkMarkets isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. ThinkMarkets trails TD Ameritrade FX by 35 total currency pairs (for example, EUR/USD), with TD Ameritrade FX offering 75 and ThinkMarkets offering 40.
To round out our comparison of TD Ameritrade FX vs ThinkMarkets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. ThinkMarkets makes Meta Trader available to clients, while TD Ameritrade FX does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. TD Ameritrade FX trails ThinkMarkets by 11 total charting tools, with ThinkMarkets offering 31 and TD Ameritrade FX offering 20. TD Ameritrade FX offers its clients access to 403 different indicators (for example, volume) while ThinkMarkets has 51 available indicators, a difference of 352.
Overall, TD Ameritrade FX comes out on top with 4.5 stars over ThinkMarkets's 3.5 stars. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Platforms & Tools in 2018, while ThinkMarkets came up with none of these.