TD Ameritrade vs ProsperityFx | Compare Pros, Cons and More 2024

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TD Ameritrade and ProsperityFX are online forex brokers that offer their trading services to traders and investors. TD Ameritrade is a highly regulated and trusted forex broker. It is regulated by multiple regulatory authorities including SEC, FINRA, CFTC, SFC, MAS. On the other hand, ProsperityFX is an offshore forex broker which is not regulated by any regulatory bodies. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by TD Ameritrade and ProsperityFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

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

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

ProsperityFX

ProsperityFX facilitates the trading of over 200 forex and CFDs on its MT4 platforms. Founded in 2020, the broker offers multiple account types, ECN raw spreads, fast executions, and 24/7 support. You can fund your account via several cryptos and there are no extra charges for deposits or withdrawals.

ProsperityFX Overview

ProsperityFX Overview
  • Founded In: 2020
  • Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
  • Maximum Leverage: 500:1
  • Regulations: None 
  • Trading platform: MT4
  • Account Types: Standard, Pro, Var, Mini 
  • Payment Options: VISA, MasterCard, Bitcoin
  • US Traders: Accepted 

TD Ameritrade vs ProsperityFX: Side By Side Comparison

TD Ameritrade
Prosperityfx
Product
Product
TD Ameritrade
Prosperityfx
Founded In
Founded In
1978
2020
Founded By
Founded By
John Joseph Ricketts
Lee Sullivan
Headquarters
Headquarters
Omaha, United State
Kingstown, St. Vincent and the Grenadines
Regulations
Regulations
SEC, FINRA, SIPC.
None
Min Deposit
Min Deposit
None
$25
Max Leverage
Max Leverage
50:1
500:1
Tradable Assets
Tradable Assets
Stocks,Options,ETFs,Mutual Funds,Futures,Forex,Margin Trading,Bonds & Fixed Income.
Trade Forex, Indices, Commodities and Cryptocurrencies with some of the tightest spreads available in the market
Fees
Fees
Commission from $7 to $9.99
Spread from 0.8 pips
Platforms and Tools
Platforms and Tools
Web ,Mobile , thinkorswim Trading Platforms
MT4
US Traders
US Traders
Allowed
Allowed

TD Ameritrade vs ProsperityFX: Pros and Cons

TD Ameritrade Pros & Cons

Pros
  • 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
Cons
  • 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).

ProsperityFX Pros & Cons

Pros
  • Low Minimum Deposit - Starting from $10
  • Allow Crypto CFD Trading 
  • Demo Accounts are Available 
  • Higher Leverage for US, and EU clients. 
  • Allow Scalping, EA Trading and News Trading 
  • ProsperityFX Accepts Crypto Deposits
Cons
  • Offshore Broker with very limited information
  • Limited Deposit and Withdrawal Option 
  • Spread sometimes  widens during market volatility
  • Unregulated Forex broker  
  • No Managed Account Options

TD Ameritrade Vs ProsperityFX: Our Scores and Ratings

We rated both brokers, TD Ameritrade and ProsperityFX, 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.

TD Ameritrade:

8.8
TD Ameritrade Score
Regulation and Security (40%)9
Fees and Commissions (20%)9
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)7

ProsperityFX

3.6
ProsperityFx Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)5
Trading (15%)6.5
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)9

Final Verdict :

Both TD Ameritrade and ProsperityFX offer similar trading services worldwide. However, there are differences in their regulations, reputations, and operations. TD Ameritrade is a regulated and trusted forex broker, supervised by top-tier regulatory authorities, including the SEC, FINRA, CFTC, SFC, MAS. In contrast, ProsperityFX is an unregulated offshore forex broker. TD Ameritrade provides multiple trading platforms, including Web Platforms, thinkorswim desktop, thinkorswim®web, Mobile Trading; while ProsperityFX does not offer MT5 and uses only MT4 Trading Platform as its trading platform.

Since TD Ameritrade is licensed in the USA, it can accept U.S. clients. However, TD Ameritrade does not offer high leverage or CFD instruments due to regulatory obligations in the USA. In contrast, as an unregulated offshore broker, ProsperityFX can offer U.S. traders high leverage and CFD trading. Our score for TD Ameritrade is 9.3, and for ProsperityFX, it is 9 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).

Therefore, if you are looking for a U.S.-regulated forex broker, TD Ameritrade is a good choice. However, if you prefer to trade CFDs with high leverage, you may consider ProsperityFX. Keep in mind, though, that trading with an unregulated offshore broker carries significant risks.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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