TD Ameritrade Forex Review – Is This Forex Broker The Right Choice?

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By Anthony Gallagher

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Td Ameritrade Review

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TD Ameritrade Review

  • Commissions & Fees
  • Investment Offerings
  • Trading Platforms
  • Customer Service
  • Education and Research
  • Trustworthiness


As any forex trader will tell you, the right broker can make all the difference. TD Ameritrade is one of the largest and longest-serving forex brokers in the industry. They offer a variety of account types and product offerings as well as tools, such as a mobile trading platform and education. Learn more about this forex broker and if they have what you need in our review of TD Ameritrade.


  • They have been in operation since 1975. This makes them hugely longstanding, and develops a strong trust for traders. 
  • The range of assets offered by TD Ameritrade is huge at more than 40,000, including a strong range of all types of currency pairs. 
  • TD Ameritrade is one of the most recognizable and trustworthy names to trade with for US customers. 


  • TD Ameritrade, at the moment, only offers services to US-Based traders in forex.
  • Their proprietary trading platform is excellent, but they also do not offer any additional third-party options. 
  • The education offering is great, though the research section may be a little light.

About TD Ameritrade

TD Ameritrade is one of the largest and most respected brokers all around the world. They were founded in 1975, which also makes them one of the longest-serving in the industry of all the forex brokers we have reviewed.

With quite a few forex brokers out there, though, such as VantageFX and TeleTrade, how does TD Ameritrade truly measure up? In this TD Ameritrade review, we will be focusing on their forex trading arm and precisely what you can expect if you choose to trade forex with TD Ameritrade. 

Td Ameritrade Landing Screen

TD Ameritrade Account Opening

Opening an account with TD  Ameritrade to trade forex is relatively simple, though you will need to be a US trader if you wish to trade forex with TD Ameritrade. Once you have created an account within a few simple steps, the next thing you will have to do is download your trading platform. This will be the thinkorswim platform for trading forex. 

To verify your forex trading account with TD Ameritrade, you will need to provide a couple of documents that can be quickly and conveniently uploaded. This means proof of your ID, such as your passport, and proof of your residence, such as a recent utility bill or bank statement. With these things in place, you will be ready to trade in no time.  

 Minimum Deposit

A great plus point when it comes to TD Ameritrade forex trading is that you will have no minimum deposit requirement. If you want to trade options or trade on margin, though, you should maintain an account balance of at least $2,000. 

Account Availability And Account Types

A wide range of account types are available when trading with TD Ameritrade. They offer perhaps more than many other US brokers in the industry., and in quite a simple fashion, which is easy to understand. 

You will have the ability to choose from an individual, joint, business, college fund, retirement, pension, custodial, or trust accounts. Each of these clearly defines the purpose for which you are investing and has certain products best aligned with those goals. 

When it comes to account availability, forex trading through TD Ameritrade is available to US traders only. They are well regulated in the US by the CFTC, FINRA, and the SEC and are one of the few brokers to offer forex trading to US-based traders. 

Td Ameritrade Account Opening

TD Ameritrade Product Offerings

With TD Ameritrade, you will not only have the chance to trade forex, but a wide range of other assets will also be available for you to trade. This choice includes an extensive range of stocks, bonds, ETFs, and futures. The broker makes in excess of 40,000 total assets available for trading, with 77 forex currency pairs, and stocks on 5 exchanges available to trade.  

Commissions And Fees

TD Ameritrade has recently moved to become a commission-free broker in the majority of markets that they offer. This includes when trading forex. Therefore, they remain very competitive with no commission to consider, and the spreads charged on forex trading are also extremely good on average. This spread usually starts from just 1 pips on major forex market, and the broker does an excellent job in keeping the average spread low across their offering. 

Another positive is that the broker charges no inactivity fee. This makes them ideal for casual traders, and they also offer a reduced trading cost and other benefits if you qualify for their active trading program.

TD Ameritrade Platforms And Tools

Thinkorswim is the very impressive trading platform which is now owned and offered by TD Ameritrade to traders with the broker. This trading platform is extremely smooth, well-developed, and intuitive to use. It has picked up several awards in the industry and successfully combines more than 300 technical indicators that can be used to provide additional insight. 

Td Ameritrade Webtrader

Desktop Platform

The standard desktop trading platform for TD Ameritrade forex is through Sinkorswim. As mentioned above, this is a very smooth, user-friendly platform that also caters to sufficient depth when it comes to charting analysis. Added to this, the platform is also very customizable in the sense that you can create your own charting indicators. 

All round, it makes for a very positive user experience which is sufficiently detailed, yet easy to understand and use for newer traders.  

Td Ameritrade Trading Platform

Mobile Trading Platform

TD Ameritrade mobile trading capability is provided by their own TD Ameritrade app. This is available for both Android and iOS devices and provides you with a very comprehensive range of features and capabilities that you can access through the desktop trading platform. 

In essence, you do not lose a great deal of functionality when trading on the move through this mobile trading platform. It still provides for hundreds of indicators and a broad range of charting capabilities for an extremely customizable trading experience. 

Td Ameritrade Mobile Trading

Education And Research

Having reviewed many of the top forex education services, we know what it takes to create a comprehensive educational infrastructure that is conducive to learning. 

Considering education, TD Ameritrade performs well in this category. They provide for a very strong range of tutorial videos on the trading platform and getting started, right through to more advanced content. You will also have access to a range of informative webinars, and regularly updated articles and content from their expert team.

Research is provided directly through the multi-faceted trading platform with access to updated news feeds, and a detailed economic calendar. 

Td Ameritrade Education

TD Ameritrade Differentiators

There are a few prominent differentiating factors when talking about TD Ameritrade for forex trading. The first is that they are one of the few brokers, and a very major one at that, who are allowed to offer such access to forex trading in the US. 

The second factor is also partly connected to the first; they are one of the best known, and longest-standing brokers in the industry. Not only that, but the company itself has a huge reputation in the financial world and is also a well-known bank. This gives huge credibility to the bank and makes them one of the most well-trusted names in the industry. 

Td Ameritrade Broker Features

Customer Service

When it comes to customer service, TD Ameritrade performs very well. Another big positive in this regard is that they are available on a 24/7 basis. The customer service team can be reached through email, phone, or instantly through the web-based live chat function made available.

The answers you receive are fast and professional, addressing any questions or concerns which you may have on a wide range of topics. 

TD Ameritrade Trustworthiness

One of the major positives to take from our TD Ameritrade review is the trusted reputation that the broker brings to you as a trader. They are one of the most well-known brands, and highly respected in the industry. 

Being regulated in the US under the SEC, CFTC, and FINRA is huge for the broker. This gives them the trusted credentials and top-tier regulation to offer a safe and secure trading experience with confidence. 

Conclusion: TD Ameritrade

Overall, our TD Ameritrade review has found that the American broker very much lives up to their strong reputation in the sector. They provide an all-round, excellent forex trading experience for traders of all levels. 

The trading costs in place also make TD Ameritrade very well-placed as one of the best around. With commission-free trading and spreads starting from a very competitive 1 pip, you can’t do much better in trading forex. 

As one of the most well-regulated, and trusted brokers who have continued to evolve over the last 4 decades in the industry, it is clear to see why they remain a top choice for US traders, and will likely continue to do so.

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Anthony Gallagher

Anthony Gallagher is a financial journalist and forex expert with years of experience in the industry. Anthony's writing is informed by personal trading experience, which he uses to help other forex traders improve their results. Anthony has tested dozens of forex trading tools and written hundreds of articles for many well-known sites in the industry. He is recognized for his insightful analyses of global markets and data-driven trade ideas.

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