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CMC Markets vs TD Ameritrade 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between CMC Markets and TD Ameritrade? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, CMC Markets ranks more highly than TD Ameritrade.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingCMC MarketsTD Ameritrade
Overall Rating 9.6 / 10 9.5 / 10
Account TypeCMC MarketsTD Ameritrade
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No No
Copy TradingCMC MarketsTD Ameritrade
Social Trading / Copy Trading Yes No
DupliTrade No No
ZuluTrade No No
CryptocurrencyCMC MarketsTD Ameritrade
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes No
Bitcoin Yes Yes
ethereum Yes No
Forex Trading (Spot or CFDs)CMC MarketsTD Ameritrade
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)CMC MarketsTD Ameritrade
DAX Yes No
Dow Jones Yes No
FTSE Yes No
NASDAQ 100 Yes No
Nikkei Yes No
SP 500 Yes No
InvestmentsCMC MarketsTD Ameritrade
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes No
Social Trading / Copy Trading Yes No
Metals Yes No
Energies Yes No
Agriculturals Yes No
ETF Yes No
U.S. Stocks (CFD) Yes No
Trading PlatformsCMC MarketsTD Ameritrade
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) No No
Regulatory LicensesCMC MarketsTD Ameritrade
Tier-1 Licenses 5 4
ASIC Authorised (Australia) Yes No
IIROC Authorised (Canada) Yes No
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) No Yes
MAS Authorised (Singapore) Yes Yes
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No Yes
Tier-2 Licenses 1 0
Tier-3 Licenses 0 0
Research, EducationCMC MarketsTD Ameritrade
Trading Central (Recognia) Yes No
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes No
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsCMC MarketsTD Ameritrade
Minimum Initial Deposit $0 $0
Average Spread EUR/USD - Standard 0.51 (August 2022) 1.25 pips (September 2022)
All-in Cost EUR/USD - Active 0.51 (August 2022) 1.25 pips (September 2022)
Active Trader or VIP Discounts Yes No
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes No
PayPal (Deposit/Withdraw) Yes No
Trading ToolsCMC MarketsTD Ameritrade
Watchlists - Total Fields 9 564
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 84 360
Mobile Charting - Indicators / Studies 29 360
Trust FactorsCMC MarketsTD Ameritrade
Year Founded 1989 1955
Publicly Traded (Listed) Yes Yes
Bank No Yes
Authorised in European Union Yes info Yes info
Trust Score 99 99
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CMC Markets vs TD Ameritrade Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs TD Ameritrade.

Can I trust CMC Markets?

CMC Markets has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust TD Ameritrade?

TD Ameritrade has a trust score of 99, giving it a "Highly Trusted" trust label.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker that features excellent pricing and a huge selection of markets on its powerful Next Generation proprietary trading platform (available for web and mobile), alongside high-quality research and educational materials.

Is TD Ameritrade a good broker?

TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research, trading tools, and comprehensive educational resources for investing.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. CMC Markets is ASIC Authorised (Australia), IIROC Authorised (Canada), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FCA Authorised (U.K.), while TD Ameritrade is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have CBI Authorised (Ireland), FSA Authorised (Japan) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, CMC Markets is DFSA / Central Bank Authorised (UAE), while TD Ameritrade is none., neither have CBRC Authorised (China), CySEC Authorised (Cyprus), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses unfortunately, neither CMC Markets nor TD Ameritrade are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both CMC Markets and TD Ameritrade offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does CMC Markets offer MetaTrader? Does TD Ameritrade offer MetaTrader?

For MetaTrader CMC Markets provides MetaTrader 4 (MT4), while TD Ameritrade provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers., neither have MetaTrader 5 (MT5)

How do CMC Markets and TD Ameritrade differ in terms of minimum deposit? What about average spreads and funding options?

CMC Markets requires a minimum deposit of $0, while TD Ameritrade requires a minimum deposit of $0. From our testing we found CMC Markets offers spreads of 0.51 (August 2022), while TD Ameritrade offers spreads of 1.25 pips (September 2022). CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where TD Ameritrade supports Bank Wire (Deposit/Withdraw)., neither have Skrill (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, CMC Markets or TD Ameritrade?

CMC Markets offers a more diverse selection of investment options than TD Ameritrade allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, CMC Markets has 12377, compared to 0 from TD Ameritrade.

Can I trade cryptocurrency with CMC Markets or TD Ameritrade?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor TD Ameritrade allow you to trade physical cryptocurrencies.

Who offers more research tools, CMC Markets or TD Ameritrade?

In terms of research and research tools CMC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison TD Ameritrade has the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources).

Broker Reviews

Still looking for more information, read our broker reviews.

CMC Markets Review

TD Ameritrade Review

Overall winner: CMC Markets

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products.

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