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TD Ameritrade Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

Published January 10, 2022
Last modified September 12, 2022
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TD Ameritrade's thinkorswim platform offers over 70 tradeable currency pairs alongside a plethora of impressive tools, research, and education. For traders in the U.S., TD Ameritrade provides the ultimate trading technology experience.

TD Ameritrade
starstarstarstarstar_border Overall
  • Minimum Initial Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 0
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Trade Stocks & ETFs Commission Free

(74-89% of retail investor accounts lose money)

TD Ameritrade pros & cons

thumb_up_off_alt Pros

  • TD Ameritrade is publicly traded (NYSE: SCHW) and regulated in four tier-1 jurisdictions.
  • TD Ameritrade is trusted by over 11 million clients, with over $1 trillion in assets.
  • Part of Charles Schwab Corporation since October 2020, with a combined 28 million clients and $6 trillion in assets.
  • The availability of currency ETFs, exchange-traded forex futures, and options on forex futures elevate TD Ameritrade's already-impressive forex offering.
  • The thinkorswim platform left us so impressed that it won our award for Best Desktop Platform for 2022.
  • In-house research from TD Ameritrade's Ticker Tape hub and TD Ameritrade Network.
  • Third-party market news integration from sources like CNBC, Dow Jones, Thomson Reuters, Morningstar, and FXWirePro.
  • Learning Center boasts over 400 pieces of content โ€” both written and audio-visual โ€” many of which are forex-related.
  • Robust multimedia offering, including a well-maintained YouTube channel, and a catalogue of archived webinars with quality content such as its Trader Talks Webcasts

thumb_down_off_alt Cons

  • As a U.S.-only forex broker, TD Ameritrade does not offer copy trading or MetaTrader (MT4).
  • Live video broadcasting is more focused on equities markets and futures than forex.
  • With average spreads close to 1.2 pips on the EUR/USD, pricing is slightly above the industry average.
  • Only available for U.S. clients (see our complete review of TD Ameritrade for U.S. traders on our sister site, StockBrokers.com).

Overall Summary

Feature TD Ameritrade logoTD Ameritrade
Overall Rating starstarstarstarstar_border
Trust Score 99
Offering of Investments starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border
Platform & Tools starstarstarstarstar_border
Research starstarstarstarstar_border
Mobile Trading starstarstarstarstar_border
Education starstarstarstarstar_border

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.

Is TD Ameritrade safe?

Trust Score
99
ForexBrokers.com

TD Ameritrade is considered low-risk, with an overall Trust Score of 99 out of 99. TD Ameritrade is publicly traded, does operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). TD Ameritrade is authorised by the following tier-1 regulators: Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Feature TD Ameritrade logoTD Ameritrade
Year Founded 1955
Publicly Traded (Listed) Yes
Bank Yes
Tier-1 Licenses 4
Tier-2 Licenses 0
Tier-3 Licenses 0

2022 Review Methodology

For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

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About the Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelorโ€™s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.


TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each otherโ€™s services and products.
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