IG and TD Ameritrade are Forex and CFD brokers offering online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. IG is regulated by 9 regulatory authorities, including ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. On the other hand, TD Ameritrade is regulated by 3 regulatory authorities, including SEC, FINRA, SIPC. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.
In this article, we will compare IG with TD Ameritrade regarding trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if IG is better than TD Ameritrade. This comparison lets you understand which broker is better for your trading style and preferences
IG
Founded in 1974 as IG Index by British financier Stuart Wheeler, IG is a well-known forex and CFD broker. Based in the United Kingdom, IG offers online trading services, including spread betting and CFD trading. It provides access to over 100 forex currency pairs, CFDs, commodities, stocks, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for personal investment and trading. As of 2021, IG had a market value of £2.9 billion and offered trading in 17,000 investment markets. Regulated by the Financial Conduct Authority (FCA), IG is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
IG Markets Overview
- Founded In: 1974
- Minimum Deposit: $250
- Maximum Leverage: 200:1
- Regulations: ASIC, FCA, FSA, NFA , AMF, FMA, MAS, DFSA
- Trading platform: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
- Account Types: Standard account, DMA Account
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, PayPal
- US Traders: Accepted
TD Ameritrade
Founded in 1971 as Ameritrade, TD Ameritrade is a well-known American online brokerage firm that offers a wide range of financial services including stocks, Forex, options, ETFs Mutual Funds, fixed income and other investment products TD Ameritrade went through a couple of acquisitions and mergers. In 2006, it acquired the US operations of TD Waterhouse, followed by the acquisition of Scottrade in 2017. Finally, in 2020, Charles Schwab Corporation acquired TD Ameritrade. TD Ameritrade provides access to both US and non-US traders to trade on this platform.
TD Ameritrade At a Glance
- Founded In: 1978
- Minimum Deposit: $0
- Maximum Leverage: 1:50
- Regulations: SEC , FINRA , SIPC
- Trading platform: Web Platforms, thinkorswim desktop, thinkorswim® web, Mobile Trading
- Account Types: Standard, Retirement, Education and Specialty accounts.
- Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), Check, Physical Stock Certificates, Transfer from Existing Broker
- US Clients : Accepted
IG vs : TD Ameritrade Features
IG
- Trading Instruments: 17,000+ trading instruments including forex, indices, cryptocurrencies, shares, commodities, bonds, options, etc
- Maximum leverage: 30:1 to 200:1 ( dependent on Jurisdiction and Tradable assets)
- Minimum Deposit: No Minimum Deposit. However, the Minimum requires $250 if traders use credit/debit cards or PayPal
- Account Types: Ig Offers couple of account types including Standard Accounts, Limited Risk Accounts, Spread Betting Accounts, Options Trading Accounts, Turbo24 Accounts, Share Dealing Accounts, Professional Accounts, etc
- PAMM/ MAM: Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
TD Ameritrade
- Trading Instruments: 4,700+ trading instruments including Stocks, ETFs, mutual funds, options, fixed income, futures, and forex, as well as margin lending and cash management services
- Maximum Leverage: 50:1. Offers both leverage and non-leverage assets.
- Minimum Deposit: TD Ameritrade does not require a minimum deposit to open a trading account
- Account Type: Brokerage and Trading, Retirement Account, Education and Custodian, charitable giving, lending, Small business retirements, Checking and Savings, Robo and Dedicated Advice, credit cards, Annuities, Trust and Estate, Insurance
- Trading Fees: TD Ameritrade offers a $0 account minimum with no charges for trading stocks and ETFs. Bond trades are $1 per bond, and most options contracts cost $0.65 each. Mutual fund trades typically cost around $50, but the firm also provides access to over 3,600 no-transaction-fee funds
- PAMM/MAM: Not Available
- News Trading: Allowed
- Scalping: Allowed
- Automated Trading: Allowed
IG vs TD Ameritrade: Pros and Cons
IG Pros & Cons
- Regulated by multiple top tire regulators like NFA, FCA, ASIC, FSA, AMF, FMA, MAS, DFSA
- Allows scalping, EA/ Robot Trading, News Trading
- Offers web trading, mobile trading and ECN Trading
- IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
- 16,000 trading instruments, investments in IPOs and exchange-traded funds;
- Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
- Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
- Offers passive investment programme ( MAM, PAMM accounts)
- Relatively high Minimum deposit ( Min Deposit $250)
- Conservative leverage in some areas ( The max leverage is 1:200)
- IG charges $/£12/€14 per month after 24 months of inactivity
- Limited product range on MT4
- High Stock CFD fees
TD Ameritrade Pros & Cons
- ETF, non-penny stock, and options trades are commission-free
- Expansive trading tools and resources for all types of investors
- Low trading fees (free stock and ETF trading)
- Regulated by FINRA, SIBC
- Part of Charles Schwab Corporation since October 2020, with a combined 28 million clients and $6 trillion in assets.
- The company does not charge fees for trading in American and Canadian stocks, options, and ETFs.
- There is a large selection of investments from which to choose
- Broker-assisted trades are somewhat costly
- No direct crypto Trading
- Forex trading via thinkorswim, a trading platform where you can trade forex
- No MT4, MT5, cTraders trading platforms are offered
- Fractional shares are not offered
- Accounts mostly limited to US residents
- As a U.S.-only forex broker, TD Ameritrade does not offer copy trading or MetaTrader (MT4).
IG vs TD Ameritrade: Side-by-Side Comparison
IG Vs TD Ameritrade: Our Scores and Ratings
We rated both brokers, IG and TD Ameritrade, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
IG:
TD Ameritrade
Final Verdict :
IG and TD Ameritrade are regulated forex and CFD brokers in the industry. They offer similar trading services. Both brokers allow scalping, hedging, EA trading, and Copy trading. The minimum order size for both of them is 0.01.
However, there are a few areas where you may find some differences. For example, the minimum deposit for IG is $0., whereas the minimum deposit for TD Ameritrade is $0. Additionally, the maximum leverage for IG is 1:200. In contrast, the maximum leverage for TD Ameritrade is 1:50. IG offers passive investment programs like MAM and PAMM, while TD Ameritrade does not have any passive investment programs.
Our score for IG is 9, and for TD Ameritrade, it is 8.8 So, if you are looking for the most trusted forex brokers with MAM and PAMM services, you may choose IG. However, if you prefer another forex brokers that offer similar services, you may choose TD Ameritrade.
