TD Ameritrade distinguishes itself as a top online stock broker with enticing features such as highly accessible customer assistance, in-depth and comprehensive stock trading research, no minimum account sizes, and competitive commission pricing. If you want to open a brokerage account, our TD Ameritrade review can help you decide if this is the best stock broker for you.
Company Overview
| Country of regulation | USA, Hong Kong, Singapore |
| US stock fee | Free stock and ETF trading |
| Inactivity fee charged | No |
| Withdrawal fee | $0 |
| Minimum deposit | $0 |
| Time to open an account | 1-3 days |
| Demo account provided | Yes |
| Products Offered | Stock, ETF, Forex, Fund, Bond, Options, Futures, Crypto |
TD Ameritrade was founded in 1975 as a budget full-service broker and has since acquired a reputation as a pioneer in trading innovation, client experience, and education. Charles Schwab announced the acquisition of TD Ameritrade for $26 billion in 2020, a transaction that is currently continuing. The headquarters of the corporation are in Omaha, Nebraska.
Pros and Cons of TD Ameritrade
| Pros | Cons |
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Top Features of TD Ameritrade
- No-commission trading: Online stock and ETF trading are free of charge.
- Mobile app and online trading platform: The broker’s mobile app is well-rated by investors. The mobile software is incredibly feature-rich, and it is available on iOS, Android, and Windows devices. Using a smartphone or tablet, clients can access streaming data, invest in mutual funds, and trade stocks and sophisticated options contracts.
- Various account types: TD Ameritrade can meet all of your investing and cash management needs. TD Ameritrade provides a variety of education and managed account choices in addition to regular taxable accounts, IRAs, and Roth IRAs.
- Screeners and research: TD Ameritrade provides a plethora of stock, option, and mutual fund screeners that are completely free to use. Customers also get access to research and ratings from third parties such as Morningstar and CFRA, as well as stock analysis from a variety of investing firms.
- Selecting Mutual Funds: TD Ameritrade has the most mutual funds and commission-free ETFs of any discount broker we’ve reviewed. Many brokers cater largely to active investors and traders, while TD Ameritrade does an excellent job of meeting the demands of both stockpickers and hands-off fund investors.
- Customer service: With branch offices throughout the majority of large metropolitan areas, TD Ameritrade may appeal to clients who desire the assurance that face-to-face customer service is only a short drive away.
- There are no minimums: TD Ameritrade may accept them whether they are just starting started with investing or moving over a $1 million 401(k) into an IRA. TD Ameritrade does not demand a minimum deposit to open an account and begin trading, which is a significant benefit for new investors.
Account Types Offered By TD Ameritrade
TD Ameritrade provides a comprehensive array of account types that are appropriate for a variety of financial objectives and investing strategies. You can open the following accounts:
- Standard account
- Individual
- Joint Tenants with Rights of Survivorship (JTWROS)
- Tenants in Common
- Community Property
- Tenants by the Entireties
- Guardianship or Conservatorship
- Retirement account
- Traditional IRA
- Roth IRA
- Rollover IRA
- Education account
- 529 Plans
- Coverdell Education Savings Account
- Custodial Uniform Gift to Minors Act (UGMA)/Uniform Transfer to Minors Act (UTMA)
- Speciality account
- Trust
- Limited Partnership
- Partnership
- Investment Club
- Limited Liability
- Sole Proprietorship
- Corporate (profit or non-profit)
- Non-Incorporated
- Small Business Plans
TD Ameritrade Trading Platform
TD Ameritrade’s web, desktop, and mobile interfaces make trading easy for traders who like a full-featured platform.
Fundamental investors can use its web platform for streaming quotations, personalized alerts, and screeners to quickly sort the market by fundamental and technical factors. Active traders who demand backtesting, level II quotations, and a graphic explanation of a position’s predicted profit or loss love its thinkorswim desktop tool.
TD Ameritrade’s mobile platform includes level II quotations, conditional orders, and complicated options trading via smartphones, tablets, and other devices. The software works on iOS, Android, and Windows, and users may visit its website to trade on a smaller screen.
TD Ameritrade’s Margin Rate
TD Ameritrade charges interest based on a sliding scale. The more you borrow, the lower your interest rate will be, although TD Ameritrade’s margin rates are on the higher end of what you’ll find from top brokers. The list below shows current TD Ameritrade margin rates by debit balance.
- Under $10,000 margin balance: 14.75%
- $10,000 to $24,999 margin balance: 14.5%
- $25,000 to $49,999 margin balance: 14.25%
- $50,000 to $99,999 margin balance: 13.25%
- $100,000 to $249,999 margin balance: 13.00%
- $250,000 to $499,999 margin balance: 12.75%
- Over $500,000: Contact TD Ameritrade
TD Ameritrade’s Customer Support
TD Ameritrade allows you to talk to someone about your account in person, unlike many brokers. Hundreds of branch offices in US cities provide customer help within a short drive. Of course, it offers 24/7 phone, email, and text assistance. It now offers customer help via Facebook Messenger and Twitter, and its Facebook Messenger chatbot lets you trade stocks.
Alternative To TD Ameritrade
| Aspects | IG | Interactive Brokers | TD Ameritrade |
| Forex Trading | Yes | Yes | Yes |
| Forex Pairs | 97 | 90 | 73 |
| Social Trading / Copy Trading | No | No | No |
| Average Spread EUR/USD – Standard | 0.98 | 0.63 | 1.25 |
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Final Thoughts
TD Ameritrade ranked first for customer service and investor education, making it ideal for beginners and mobile options traders. TD Ameritrade is a powerful brokerage with many appealing features. A solid menu of assets, trading resources, and educational content empowers new and experienced investors to invest their way. With streamlined navigation across online, mobile, and desktop platforms and outstanding client support, it’s easy to find what you need.
