XM vs TD Ameritrade | Our Analysis & Comparison in 2024

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Forex traders always wish to trade with trusted and reliable forex brokers. XM and TD Ameritrade are top-tier regulated forex brokers offering online trading services globally. XM is regulated in two Tier-1, one tier-2, and one tier-4 jurisdictions, including the two tier-1, two tier-2, and one tier-4 jurisdictions, including the ASIC, CySEC, FSCA, FSC-Belize, and DFSA. On the other hand, TD Ameritrade is regulated in three tier-1 jurisdictions 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 XM with TD Ameritrade regarding trading pros and cons,  trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if XM is better than TD Ameritrade and vice versa. This comparison lets you understand which broker is better for your trading style and preferences.

XM vs TD Ameritrade: In a Nutshell

XM

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses. 

XM Overview
  • Founded In: 2009
  • Minimum Deposit: $5
  • Maximum Leverage: 1000:1
  • Regulations: FSC
  • Trading platform: MT4, MT5
  • Account Types: Ultra Low, Micro, Standard, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • US Traders: Not Accept

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

XM vs TD Ameritrade: Pros and Cons

XM

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

TD Ameritrade

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).

XM vs TD Ameritrade: Side-by-Side Comparison

XM
TD Ameritrade
Product
Founded In
Founded In
2009
1978
Founded By
Founded By
Constantinos Cleanthous
John Joseph Ricketts
Headquarters
Headquarters
Limassol, Cyprus
Omaha, United State
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
SEC , CFTC
Min Deposit
Min Deposit
$5
None
Max Leverage
Max Leverage
1000:1
50:1
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Stocks,Options,ETFs,Mutual Funds,Futures,Forex,Margin Trading,Bonds & Fixed Income.
Fees
Fees
Spreads as low as 0.6 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4 , MT5
Web ,Mobile , thinkorswim Trading Platforms
US Traders
US Traders
Not Allowed
Allowed

XM Vs TD Ameritrade: Our Scores and Ratings

We rated both brokers, XM 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.

XM :

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4

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

Final Verdict :

XM and TD Ameritrade are regulated forex and CFD brokers in the industry. They offer similar trading services, including forex and CFDs. Both allow scalping, hedging, EA trading and Copy trading, with a minimum order size of 0.01.

However, there are a few areas where you may find some differences. For example, the minimum deposit for XM is $5, whereas the minimum deposit for TD Ameritrade is $0. Additionally, the maximum leverage for XM is generally from 1000:1. On the other hand, the maximum leverage for TD Ameritrade is 50:1. XM offers passive investment programs or copy trading programs like MAM and Zulutrade,  while TD Ameritrade does not have any passive investment programs.Our score for XM is 9.3, and for TD Ameritrade, it is 8.8. If you are looking for a trusted forex broker with social trading services, you may choose XM. However, if you are a US citizen, or prefer US regulated forex broker, you may choose TD Ameritrade.

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.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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