If I were to choose between the 2. It will be TD Ameritrade. The price range for commissions are about the same. However, I feel TD Ameritrade has a better platform, especially for charting, if you use them. It is called ThinkorSwim.
Personally, I use Interactive Brokers(IB) as I do not need the charting software cause I pay much more for others. But I use IB mainly because of the Pros below:
Pros:
1) Cheap commission from US$1.
2) Ability to buy fractional shares i.e 1 unit of share (especially useful for small portfolios).
3) Spot rates for FX as you change via the Forex on IBKR.
Cons:
1) Platform may be basic, not the best charting software if you chart.
2) Commissions to hit US$10/mth(i.e 10 trades if commission is US$1 each) else will be charged US$10 for that month. -- Not a problem in my opinion, commission on TD Ameritrade is US$10.65/position. That is US21.30 to buy and sell as compared to IBKR's US$2 to buy and sell. I would rather be able to exit cheap if my entry is wrong. Makes it easier psychologically.
3) Limited helpdesk, they are located in Australia and HK etc. Nearest phone call is to HK if unable to resolve via Live Chat. But given the low chance of requiring to call them and the ability to make cheap overseas call once in a blue moon, I'll take it since I already saved on the commissions.
If I were to choose between the 2. It will be TD Ameritrade. The price range for commissions are about the same. However, I feel TD Ameritrade has a better platform, especially for charting, if you use them. It is called ThinkorSwim.
Personally, I use Interactive Brokers(IB) as I do not need the charting software cause I pay much more for others. But I use IB mainly because of the Pros below:
Pros:
1) Cheap commission from US$1.
2) Ability to buy fractional shares i.e 1 unit of share (especially useful for small portfolios).
3) Spot rates for FX as you change via the Forex on IBKR.
Cons:
1) Platform may be basic, not the best charting software if you chart.
2) Commissions to hit US$10/mth(i.e 10 trades if commission is US$1 each) else will be charged US$10 for that month. -- Not a problem in my opinion, commission on TD Ameritrade is US$10.65/position. That is US21.30 to buy and sell as compared to IBKR's US$2 to buy and sell. I would rather be able to exit cheap if my entry is wrong. Makes it easier psychologically.
3) Limited helpdesk, they are located in Australia and HK etc. Nearest phone call is to HK if unable to resolve via Live Chat. But given the low chance of requiring to call them and the ability to make cheap overseas call once in a blue moon, I'll take it since I already saved on the commissions.