Ameritrade FX

Hello,
Any traders in here has negative/ positive experiences with Ameritrade . Please share. I liked their platform compare to MT4. However, it is just Papermoney and no indication for execution, credibility, etc

I just spoke with a sales advisor and he mentioned that there is no commission for trading stocks. But my question is for FX ..is this a good broker for FX trading..I find no one in FF mentioned Ameritrad. Please advise

Wow, there’s no even a single trader is using Ameritrade!? I found a couple of old threads on FF (4years and more) but I need recent feedback..

I've had positive experience. I've used them for Forex for about a three days so far lol but they have been my stock/options brokerage for 10 years.

In terms of their general platform, it is my favorite by far. Technically, all the other platforms I've used have been web based, but in terms of other brokerages, I've used:

1. OptionsXpress
2. TD Ameritrade
3. ChoiceTrade
4. eTrade
5. Vanguard
6. OptionsHouse

I signed up for Interactive Brokers for Forex but their min lot size is 25,000 which is too large for my position sizing. ThinkOrSwim allows for increments of 10,000 which, although not as great compared to stocks/options, is still much more manageable in terms of risk.

One thing about ThinkOrSwim's Forex that isn't so great is that they don't allow for buy stop limit orders or sell stop limit orders. They do allow this for options and Stock trading which makes it weird. So far I haven't had any slippage due to this but it's just a matter of time. I guess it beats missing the fill completely for most Forex cases since the 'gap and fade the gap' price action is typically related to the stock market.

Lastly, in order to get a Forex/Futures account, they basically create a sub-account that is inaccessible through TD Ameritrade. So it won't show up on the TD Ameritrade website at all. All Futures/Forex info will be visible in the ThinkOrSwim platform only. I'm still wrapping my head around that myself.

You should check if they regulated and not much reviews best to avoid.

TD Ameritrade uses GAIN Capital, the owner of FOREX.com, as its liquidity provider to handle its forex execution (on an agency basis). Other brokers offer Forex the same way (Ninja Trader Broker for example). No idea the level of FX support you would get from Ameritrade, but going directly with Forex.com would cut out the middle man. I also share your lack of enthusiasm for MT4, Forex.com has several other platforms.

I have been with TD Amertrade for 20 plus years. To me the thinkorswim trading platform is the best. I trade forex, futures, stocks and never had a problem.