TD Ameritrade is one of the biggest and longest running forex trading brokers in the US. It offers a wide variety of account types and features a mobile trading platform. Additionally, it offers competitive spreads and commission-free trading. In addition, it also offers education and research resources.
TD Ameritrade offers two types of trading: commission and non-commission. For commission-free trading, the broker is compensated by a bid-ask spread. The spread is wider than for commissionable trades. In non-commissionable trading, the broker’s commission is based on the counter currency, the second currency in a pair. In other words, you pay a commission only if you buy or sell the same currency in another pair, or on both.
TD Ameritrade’s forex trading service supports more than 70 currency pairs and does not charge commissions. TD Ameritrade’s forex desk is open 24 hours a day from Sunday 4 PM CST until Friday 5 pm CST. If you’re unsure about forex trading, they have experts on hand who can help you navigate the forex market. You can also benefit from TD Ameritrade’s top-tier trading platforms and low spreads.
TD Ameritrade’s thinkorswim platform is user-friendly and offers extensive technical indicators. The platform also provides a live chat feature. You can also customize charts using the thinkScript programming language. You can also find extensive research with TD Ameritrade.
In addition to forex trading, TD Ameritrade offers other types of assets. The company offers a comprehensive selection of stocks, ETFs, futures, and bonds. Its total portfolio includes more than 40,000 different assets. With forex, TD Ameritrade offers 77 currency pairs and stocks on five different exchanges.
TD Ameritrade also offers a free virtual trading simulator. This feature is available on very few other online brokers. It allows you to practice with virtual money before you begin to trade. New customers can also open a free margin account. Additionally, the company offers a free 60-day trial for new customers.
TD Ameritrade’s robo-advisory offers personalized portfolios based on risk tolerance and investment objectives. It also offers a variety of ETF-managed portfolios. TD Ameritrade requires a $500 minimum deposit. It is also important to remember that both brokers provide customer service on a 24 hour basis.
TD Ameritrade is regulated by the Securities and Exchange Commission and the Commodity Futures Trading Commission. Additionally, Charles Schwab is regulated by the Financial Conduct Authority. Both of these companies have proven themselves to be reliable and reputable trading platforms. Even if a new trader is looking for a lower trading fee, TD Ameritrade offers low fees and no account fees.
Mobile trading is another great feature offered by TD Ameritrade. The company has an app available for Apple and Android devices. The application is user-friendly and allows traders to set trade notifications and alerts. The app even has charting capabilities.