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TD Ameritrade vs FXCM 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

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.

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Compare

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Overall Rating TD Ameritrade FXCM
Overall Rating 9.5 / 10 8.5 / 10
Account Type TD Ameritrade FXCM
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No No
Copy Trading TD Ameritrade FXCM
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No Yes info
Cryptocurrency TD Ameritrade FXCM
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info No Yes
Bitcoin info Yes Yes
ethereum info No Yes
Forex Trading (Spot or CFDs) TD Ameritrade FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) TD Ameritrade FXCM
DAX info No Yes
Dow Jones info No Yes
FTSE info No Yes
NASDAQ 100 info No Yes
Nikkei info No Yes
SP 500 info No Yes
Investments TD Ameritrade FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info No Yes
Metals info No Yes
Energies info No Yes
Agriculturals info No Yes
ETF info No No
U.S. Stocks (CFD) info No Yes
Trading Platforms TD Ameritrade FXCM
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses TD Ameritrade FXCM
Tier-1 Licenses info 5 4
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
European Union Authorised (MiFID) info No info Yes info
Tier-2 Licenses info 0 2
Tier-3 Licenses info 0 0
Research, Education TD Ameritrade FXCM
Trading Central (Recognia) info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs TD Ameritrade FXCM
Minimum Deposit info $0 Starts from $50
Average Spread EUR/USD - Standard info 1.25 info 1.38 info
All-in Cost EUR/USD - Active info 1.25 info 1.38 info
Active Trader or VIP Discounts info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No Yes
Trading Tools TD Ameritrade FXCM
Watchlists - Total Fields info 564 13
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 360 59
Mobile Charting - Indicators / Studies info 360 59
Trust Factors TD Ameritrade FXCM
Year Founded info 1955 1999
Publicly Traded (Listed) info Yes Yes
Bank info Yes No
European Union Authorised (MiFID) info No info Yes info
Trust Score info 99 95
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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 95, 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?

Founded in 1999, FXCM (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. FXCM offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). FXCM is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at FXCM has increased following the addition of its share trading feature, it's worth noting that pricing at FXCM 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 Canada (CIRO Authorised), Hong Kong (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized), while FXCM is Australia (ASIC Authorised), Canada (CIRO Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)

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 Cyprus (CySEC Authorised), Israel (ISA Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither TD Ameritrade nor FXCM are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

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, while FXCM offers spreads of 1.38. TD Ameritrade supports Bank Wire (Deposit/Withdraw) for popular funding options, where FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which broker 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 ETF Looking at total tradeable symbols, TD Ameritrade has 0, compared to 440 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.

Broker Reviews

Still looking for more information, read our broker reviews.

TD Ameritrade Review

FXCM Review

Overall winner: TD Ameritrade

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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.

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