2009 and has since continued to evolve as an innovative brand under the company. Under its CFTC-regulated entity, TD Ameritrade Futures and Forex LLC, TD Ameritrade remains one of the few regulated brokerages to still offer retail forex trading td ameritrade forex minimum the United States.
The brand continues to benefit from the backing of its parent company for both technology innovation and customer support resources. Trust Score Trading with a forex broker that traders can trust is crucial to success. Forex fraud and scams are, unfortunately, common in the industry. The following table summarizes the different investment products available to clients of TD Ameritrade FX. TD Ameritrade’s fees for trading forex on thinkorswim vary depending on whether you choose the commission-free pricing available as a separate FX contract or the commission-based contract from within the platform each time you submit an order for execution. 30 pips, including a commission of 2. While we were not able to obtain any average spreads published by TD Ameritrade, we looked at sample real-time price quotes for its major forex pairs to make a general comparison from within the platform.
It’s also worth noting that thinkorswim uses GAIN Capital, the owner of FOREX. For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. The thinkorswim platform from TD Ameritrade is loaded with powerful research tools, including a set of several detailed screeners, such as the Stock Hacker, and live CNBC news feeds alongside additional 3rd party sources such as Dow Jones, Thomson Reuters, and Morningstar. There are also a detailed economic calendar and fundamental analysis tools that offer traders a diverse arsenal of means to research the markets, including in video format.
Beyond the basics normally found in an economic calendar, thinkorswim adds smart features such as the ability to filter the calendar based on various news events, and even set alerts on upcoming events relevant to your portfolio. Numerous social features developed from in-house and third parties are also found on the platform, including the Social Signals service that pulls insights from Twitter, adding to the broad range of research and content that TD Ameritrade delivers. After installing thinkorswim and navigating the variety of menus, it quickly becomes clear that the platform has numerous tools and features packed within. For my review, I focused primarily on the forex specific functionality.
All in all, the number of positive features in the thinkorswim platform far exceeds any negative attributes. Instead of grouping all products into the same area, thinkorswim separates them out into individual tabs, which makes trading streamlined and efficient. Under the Forex Trader module, rates are displayed for six currency pairs by default. Users can choose from 77 different forex pairs, and each pair lives in its own module that can be further customized. Within each forex quote window, there is a sidebar that lets you quickly show or hide different views just for that currency pair. Although this feature was difficult to use the first time because the layout adjusts on the fly, I quickly got the hang of it and found the extra optional layer of customization to be a net benefit.