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TD Ameritrade vs FXCM 2023

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between TD Ameritrade and FXCM? Weโ€™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, TD Ameritrade ranks more highly than FXCM.

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 RatingTD AmeritradeFXCM
Overall Rating 9.5 / 10 8.5 / 10
Account TypeTD AmeritradeFXCM
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 TradingTD AmeritradeFXCM
Social Trading / Copy Trading No Yes
DupliTrade No No
ZuluTrade No Yes
CryptocurrencyTD AmeritradeFXCM
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) No Yes
Bitcoin Yes Yes
ethereum No Yes
Forex Trading (Spot or CFDs)TD AmeritradeFXCM
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)TD AmeritradeFXCM
DAX No Yes
Dow Jones No Yes
FTSE No Yes
NASDAQ 100 No Yes
Nikkei No Yes
SP 500 No Yes
InvestmentsTD AmeritradeFXCM
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No Yes
Social Trading / Copy Trading No Yes
Metals No Yes
Energies No Yes
Agriculturals No No
ETF No No
U.S. Stocks (CFD) No Yes
Trading PlatformsTD AmeritradeFXCM
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) No Yes
MetaTrader 5 (MT5) No No
Regulatory LicensesTD AmeritradeFXCM
Tier-1 Licenses 4 3
ASIC Authorised (Australia) No Yes
IIROC Authorised (Canada) No Yes
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) Yes No
Tier-2 Licenses 0 3
Tier-3 Licenses 0 0
Research, EducationTD AmeritradeFXCM
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist No Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsTD AmeritradeFXCM
Minimum Initial Deposit $0 Starts from $50
Average Spread EUR/USD - Standard 1.25 pips (September 2022) 1.38 (Q2 2022)
All-in Cost EUR/USD - Active 1.25 pips (September 2022) 1.38 (Q2 2022)
Active Trader or VIP Discounts No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) No Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsTD AmeritradeFXCM
Watchlists - Total Fields 564 12
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 360 57
Mobile Charting - Indicators / Studies 360 59
Trust FactorsTD AmeritradeFXCM
Year Founded 1955 1999
Publicly Traded (Listed) Yes Yes
Bank Yes No
Authorised in European Union Yes info Yes info
Trust Score 99 96
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TD Ameritrade vs FXCM 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 TD Ameritrade vs FXCM.

Can I trust TD Ameritrade?

TD Ameritrade 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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label.

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.

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

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. TD Ameritrade is SFC Authorised (Hong Kong), MAS Authorised (Singapore), FCA Authorised (U.K.) and CFTC Registered (USA), while FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.)., neither have CBI Authorised (Ireland), FSA Authorised (Japan), FMA Authorised (New Zealand) 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, TD Ameritrade is none, while FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither TD Ameritrade nor FXCM 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?

For trading platforms TD Ameritrade supports a Proprietary Platform and Desktop Platform (Windows), whereas FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade., neither have cTrader and DupliTrade

Does TD Ameritrade offer MetaTrader? Does FXCM offer MetaTrader?

For MetaTrader TD Ameritrade provides neither of these, while FXCM provides MetaTrader 4 (MT4). 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 TD Ameritrade and FXCM differ in terms of minimum deposit? What about average spreads and funding options?

TD Ameritrade requires a minimum deposit of $0, while FXCM requires a minimum deposit of Starts from $50. From our testing we found TD Ameritrade offers spreads of 1.25 pips (September 2022), while FXCM offers spreads of 1.38 (Q2 2022). TD Ameritrade supports Bank Wire (Deposit/Withdraw) for popular funding options, where FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

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

TD Ameritrade offers a more diverse selection of investment options than FXCM allowing you to trade Forex Trading (Spot or CFDs)., neither have Agriculturals and ETF Looking at total tradeable symbols, TD Ameritrade has 0, compared to 441 from FXCM.

Can I trade cryptocurrency with TD Ameritrade or FXCM?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither TD Ameritrade nor FXCM allow you to trade physical cryptocurrencies.

Who offers more research tools, TD Ameritrade or FXCM?

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

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