TD Ameritrade vs HFM 2024

TD Ameritrade FX is publicly-traded, does operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). TD Ameritrade FX is authorised by the following Tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

HotForex is not publicly traded and does not operate a bank. HotForex is authorised by two Tier-1 regulators (Highly Trusted), Three tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). HotForex is authorised by the following Tier-1 regulator: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

TD Ameritrade’s thinkorswim platform offers over 70 tradeable currency pairs alongside a plethora of impressive tools, research, and education. For traders in the U.S., TD Ameritrade provides the ultimate trading technology experience.

Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.

To open a trading account with TD Ameritrade, you'll need to make an initial minimum deposit of $0.

HFM requires a minimum deposit of $0 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. TD Ameritrade offers Bank Wire (Deposit/Withdraw) for banking, whereas HFM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that TD Ameritrade offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that TD Ameritrade holds 5 global Tier-1 licenses, while HFM holds 2. HFM holds 3 global Tier-2 licenses, while TD Ameritrade holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that TD Ameritrade (99) earned a higher Trust Score than HFM (86).

To compare the trading platforms of both TD Ameritrade and HFM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found TD Ameritrade to provide better mobile trading apps.

Here’s what trading platforms are available at TD Ameritrade:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at HFM:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. HFM offers MetaTrader 4 (MT4), while TD Ameritrade does not. Forex traders also appreciate the ability to engage in social copy trading. While HFM offers copy trading, TD Ameritrade does not.

HFM provides traders 102 currency pairs (e.g., EUR/USD) compared to TD Ameritrade's 73 available pairs. If you are interested in trading CFDs, HFM offers traders access to 3500 CFDs, while TD Ameritrade offers access to 0 CFDs; so HFM offers 3500 more CFDs than TD Ameritrade.

We found in our testing that TD Ameritrade offers a more diverse selection of investment options than HFM, allowing you to trade Forex Trading (Spot or CFDs) and Int'l Stock Trading (Non CFD). Neither have Cryptocurrency (Physical) and Spread Betting.