While analyzing the market of the brokerage companies we faced the fact that every now and then companies do not work with the citizens of the USA. In contrast, company specializes in clients from North America. The company services over 130,000,000 active accounts; its clients’ assets exceed one trillion dollars.
The broker is managed by the CFTC, TD Ameritrade Futures and Forex LLC, provides the following assets for its clients: they are mutual funds, currencies, futures, ETFs, bonds, options. Interestingly, TD Ameritrade, trades on the New York Stock Exchange, and, unlike many other companies, has the right to work with American citizens on currency pairs.
The trading platform is of its own design – thinkorswim, about 70 currency pairs are available, including exotic, research, training materials. The company is ready to share its experience with traders, its clients.
The main conclusions about this broker:
– Was stablished in the 70s, publicly listed on NASDAQ (New York), has strong regulation in five jurisdictions.
– With its trading platform including mobile versions, the company has not only won recognition from clients, but has also ranked first in its class for intruments, platform and research.
TD Ameritrade FX runs a bank and is authorized by five tier-1 regulatory bodies, including Canada (IIROC), Singapore (MAS), UK (FCA) and others.
The company offers a wide range of markets to trade, including forex, commodities, indices and cryptocurrencies. Futures contracts are also offered for commodities and raw materials, as well as soft commodities and livestock, this makes it possible to trade on CFE, COMEX, ICE US, etc.
BTC and other altcoins: these are both futures and BTC trusts from Grayscale. There are plans to make cryptocurrency more accessible with ErisX , CFTS (derivatives exchange). Previously, the broker invested a large amount in ErisX.
Stocks are traded without commission, but the commission on currency pairs is slightly higher than competitors in other regions, but about the same as in the United States.
Swap – the transfer of a transaction to the next day, for an accurate calculation. The broker offers a calculator as the rollover costs differently for different currency pairs. The rollover costs can be systematized on the thinkorswim platform.
Liquidity and providers: among TD Ameritrade liquidity providers are giants such as JP Morgan, Virtu Financial, XTX Markets and others. There is a pause in forex trading for one hour from 5 to 6 p.m. Eastern European time.
Platforms and Instruments
The flagship platform – thinkorswim is slightly different from the well-known MT4, so, it takes time to learn the functionality, but it is worth it.
Overview of thinkorswim: you will have to open several tabs to get access to all assets, but it is worth considering as an advantage. You will find exchange rates for the major currency pairs in the Forex-Trader module and there are about 70 currency pairs available.
Charts on thinkorswim: The number of indicators. And there are 348 of them, the company is the market leader. The number of strategies exceeds seventy, all of them based on indicators, and the launch of the signal for trading automatically when the necessary requirements are met.
Additional features of thinkorswim: 80 basic patterns plus a tool to create your own using the built-in editor. You can use the thinkScripts tool to work with technical indicators.
Review of the web version of thinkorswim: the platform is now also available without downloading programs to your device, it takes no space. And the performance is on par. Learning is quite easy and the functionality is a bit reduced compared to the basic program version. For example, there are only 11 indicators instead of several hundreds in the program version.
The capabilities of thinkorswim for browsers: you can create a full tracking list in any version, however, it will be fully displayed in the web version.
Platform was not created just for trading currency pairs, but the functionality for research is amazing.
Research overview: in addition to a huge database of tools, including advanced validation tools, live streaming is available from leading news portals.
Written articles: market analyses, including all types of analysis, are regularly conducted by the company’s staff and are made publicly available on the company’s website.
The Ticker Tape division of TD Ameritrade offers general economic news, although, this is a fairly general category. Something you can use to forecast the forex market.
Data charts for the US economy: we have found FRED to be a useful tool, this resource is used to plot data on the desktop of the platform. FRED contains a large library of historical data, such as U.S. interest rates and global rates.
Economic Calendar: this is not some advanced solution, but it is very handy to use. It allows you to plan rates based on major economic events. For the most part, it is useful for equity traders, however, Econoday publishes events suitable for the currency pairs market as well.
Social research: PC version of the platform is packed with functions both in-house and from third-party vendors. A useful option is the availability of Global FX Chat for forex. Social Signals analyzes Twitter, extracting and analyzing information.
Library has over 400 pieces of content, of which only 24 are related to the currency pairs market. It’s possible to filter the content to select the information you want. There is also a video database of educational subjects.
There is a YouTube channel, where videos and access to the company’s webinars, as well as Trader Talks broadcasts are available.
Written articles: Ticker Tape Education Center contains a dozen articles on forex, and plenty of material on full technical analysis. You will also find countless materials on other areas of the market.
The mobile version of thinkorswim has many charts, indicators and watchlists and despite its modest size, it has the ability to create complex orders. All of this is bundled into an app available for installation on Android or iOS.
Mobile research: it’s mostly news analysis, with filtering capabilities. It’s essentially no different than a similar service in the desktop version. It is enough to filter the news that corresponds to the content of your portfolio in order to always be up-to-date and not to miss relevant information.
Mobile Charts: there are 300 indicators to choose from which can be easily integrated into your charts.
Mobile Innovation: Never before has there been a Blast All order type, which is when you can create a multi-level order at the same time, but on different positions. This tool is more for advanced traders. There are more and more advanced traders in this field every year.
TD Ameritrade is ideal for Americans with above average experience. The trading platform is full of charts and indicators. It may not be enough information on forex, but otherwise – this is an innovative platform with many useful resources.