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 TD Ameritrade FX vs ThinkMarkets.
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. Both TD Ameritrade FX and ThinkMarkets hold a 4.00 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. TD Ameritrade FX alongside ThinkMarkets are regulated in a major hub. TD Ameritrade FX is a publicly traded company while ThinkMarkets is not. As far as how many currency pairs are available for trading, here's the answer. ThinkMarkets trails TD Ameritrade FX by 44 total currency pairs (for example, EUR/USD), with TD Ameritrade FX offering 77 and ThinkMarkets offering 33.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. ThinkMarkets offers Meta Trader while TD Ameritrade FX does not. 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. ThinkMarkets offers its clients access to 31 charting tools while TD Ameritrade FX has 20 charting tools, a difference of 11. ThinkMarkets trails TD Ameritrade FX by 326 total different indicators (for example, moving averages), with TD Ameritrade FX offering 377 and ThinkMarkets offering 51.
Overall, TD Ameritrade FX takes the upper hand with 4.50 stars over ThinkMarkets's 4.00 stars. And, when it comes to individual category awards, TD Ameritrade FX finished with awards Best in Class - Mobile Trading in 2018, while ThinkMarkets came up with none of these.