Complete review of forex broker TD Ameritrade
In the world of forex trading, choosing the right platform can make a huge difference. This TD Ameritrade forex broker review takes an in-depth look at one of the industry's most popular platforms, discussing its features, pros, cons and more.
TD Ameritrade - First Look
TD Ameritrade is a prominent forex trading player known for its robust thinkorswim platform. The platform provides access to over 70 currency pairs, complemented by a wide range of practical tools and extensive research resources.
Advantages of TD Ameritrade
The TD Ameritrade platform has a number of advantages that set it apart in the world of forex trading:
- The company is listed on an exchange and complies with the rules of four leading jurisdictions.
- It has an extensive client base, managing more than $1 trillion in assets.
- Since becoming part of Charles Schwab Corporation in October 2020, its combined client base and assets have grown significantly.
- The company's forex offerings are complemented by the availability of currency ETFs and options on forex futures.
- The impressive capabilities of the thinkorswim platform have led to it being recognised as the best desktop platform in 2023.
- TD Ameritrade offers proprietary research as well as market news from third-party authoritative sources.
- The training centre offers over 400 materials, many of which are forex related.
TD Ameritrade's disadvantages
While TD Ameritrade offers a number of benefits, there are a few areas where it falls short:
- The platform does not support copy trading or MetaTrader (MT4).
- The live video feed is primarily focused on the equity and futures markets, with less focus on forex.
- The company's prices are slightly above the industry average.
Is TD Ameritrade a good broker?
TD Ameritrade, is considered a highly reliable forex broker. The company is publicly listed, bank run and licensed by five tier one regulators, making it a safe choice for traders.
Comparison with other brokers
It is always a good idea to compare different brokers before making a decision. Some of the competitors to consider include IG, FOREX.com, OANDA and Interactive Brokers.
To wrap up our TD Ameritrade broker review, TD Ameritrade offers a comprehensive platform with a wide range of features and tools. Although it has a few drawbacks, its overall performance and reputation make it attractive to forex traders.