TD Ameritrade Review – Award-Winning Platforms and Zero Commissions
TD Ameritrade is an award-winning online stock brokerage, featuring commission-free stock and ETF trades, a variety of investment accounts, robust tools, and plenty of additional features.
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TD Ameritrade Review
TD Ameritrade
Product Description: TD Ameritrade is an award-winning online broker that now charges zero commissions on stock and ETF trades. There’s no minimum required to open an account, either, making this service appealing to investors of all stripes. With a TD Ameritrade account, you can access the high-level thinkorswim platform, along with easier-to-use platforms for desktop and mobile device. Plus, there’s a wealth of research and trading tools to help you make the best decisions for your investments.
TD Ameritrade has consistently been one of the highest-rated discount brokerage firms around. It offers something for everyone, from new investors to experienced professionals.
In our TD Ameritrade review, we’ll explore what makes this online stock broker a strong choice for investors.
TD Ameritrade Features
| TD Ameritrade | Features |
|---|---|
| Commissions & Fees | $0 |
| Mutual Fund Trades | $49.99 |
| Types of Investments | Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds, FOREX, Futures |
| Types of Accounts | Taxable, Joint, Custodial, Trusts, Partnerships, Retirement Accounts (Roth IRAs, Traditional IRAs, Rollover IRAs, SEP IRAs, Simple IRAs, Solo 401(k)s, Annuities), College Accounts (529, Coverdell) |
| Managed Portfolio Availability | Yes |
| Banking Services | Checking, Savings, Money Markets, CDs |
| Account Minimums | $0 |
| App Availability | iOS, Android |
| Customer Service | Phone: 24/7; Live Chat: 24/7; Email |
| Margin Availability | Available |
| FINRA CRD# | CRD#: 7870 |
| SEC Registration Number | SEC#: 801-60469, 8-23395 |
| Current Promotions | No current promotions |
Additional Features
- More Than 300 Local Branches. If you need face-to-face assistance, you can visit more than 300 local branches to consult with a professional.
- Educational Resources. TD Ameritrade offers a cornucopia of educational resources, from articles and videos to its “Ask Ted” chatbot and live seminars.
- Third-Party Stock Research. Customers can access a variety of third-party research tools from providers such as Standard & Poor’s, Morningstar Associates, and MarketEdge, as well as unique reports from ResearchTeam.
What Is TD Ameritrade?
TD Ameritrade is a brokerage firm with over 50 years of experience directing and managing customer trades. In addition to offering a state-of-the-art online trading platform, the brokerage has more than 300 local branches, which matters if you prefer working with a human broker instead of doing everything online yourself.
You can also link your TD Ameritrade brokerage account to a TD Bank account if you have one (or you can open one to simplify your banking and investing).
How to Get Started with TD Ameritrade
Opening a TD Ameritrade account is quick and hassle-free. You’ll need the usual information handy to get started: your name, address, Social Security number, employer details, financial account information, etc.
Funding Your TD Ameritrade Account. There are a number of ways to fund your TD Ameritrade account. You can deposit funds electronically via ACH, by wire transfer, by mailing a check, or by transferring investments, including stocks, funds, and some CDs, from another financial institution. You can also directly deposit funds from an existing TD Bank account.
Transferring Money. If you wish to withdraw money from your TD Ameritrade account, you can do so by requesting a wire transfer or a paper check. Or you can easily transfer funds from your TD Ameritrade brokerage account to your TD Bank checking or savings account.
How Does TD Ameritrade Work?
TD Ameritrade is an industry leader in many areas, and it competes where it counts most, including its no-commission trading, investment options, investing tools, education center, and customer service.
You can even link your TD Bank account, if you have one, to make transfers easier when you need to access your funds or add more for additional investments.
TD Ameritrade has some of the best trading platforms in the business.
The broker is well known for its thinkorswim platform, which you can download to your desktop. Thinkorswim is a professional-level platform that offers a wealth of analytical tools, charting capabilities, in-depth research, and 24/5 live trading for select securities. You can chat with other traders, get custom alerts, and use stock screeners to fine-tune your trading.
However, all investor levels can enjoy TD Ameritrade’s Web Platform, which isn’t as complicated as thinkorswim but still offers a wide range of features. It focuses on research and education, and you can customize your dashboard to receive up-to-the-minute information that affects your trades.
You can also use the Mobile App. It has practically all the capabilities of the Web Platform but fits in your pocket.
Investment Types
TD Ameritrade offers a variety of investment accounts for individuals, families, partnerships, and more. Among the offerings are:
- Standard Accounts: Individual, Joint Tenants, Tenants in Common, Community Property, Tenants by the Entireties, Guardianship, or Conservatorship.
- Retirement Accounts: Traditional and Roth IRAs, Rollover IRAs, SEP IRAs, SIMPLE IRAs, Solo 401(k)s.
- Education Savings Accounts: 529, Coverdell ESA, UGMA/UTMA.
- Specialty Investing Accounts: Trust, Limited Partnership, Partnership, Investment Club, LLC, Sole Proprietorship, Corporate, Non-Incorporated Organization, Pension or Profit Plan for Small Business.
In your TD Ameritrade account, you can invest in just about everything:
- Stock
- ETFs
- Mutual funds
- Futures
- Forex
- Bonds
- CDs
- Annuities
You can even avail yourself of a managed portfolio created for your individual needs and maintained by TD Ameritrade (for an extra fee).
Pricing
All internet equity trades are commission-free. Plus, there are no account minimums, maintenance fees, or any other unexpected fees.
| Trades at TD Ameritrade | Pricing |
|---|---|
| Stocks – Online Trades | No Commission |
| Broker-assisted Trades | $25.00 |
| ETFs | No Commission |
| Mutual Funds – No-Transaction-Fee | No Commission |
| Mutual Funds – No Load | $49.99 |
| Mutual Funds – Load | No Commission* |
| Treasuries at Auction | Available Commission-Free |
| Futures | $2.25 per Contract (inclusive of exchange fees) |
*Fees included in fund; see the prospectus for more information. See TD Ameritrade website for additional product offerings and pricing schedules.
TD Ameritrade Customer Service
You can get help with your TD Ameritrade account 24/7 by calling the customer support center at 1-800-669-3900, using the email support system, or by visiting one of more than 300 branches nationwide.
TD Ameritrade customer support centers offer more than just account troubleshooting and can help with investment questions, including understanding investments, making trades, retirement account questions, and more. Customer support is offered in English, Spanish, Cantonese, and Mandarin.
TD Ameritrade Pros & Cons
- Commission-Free Trades. Simply put, you can’t beat free. Before TD Ameritrade removed commissions from online equity trades, the per-trade cost for stocks and ETFs was $6.95, a relatively high fee. Now that TD Ameritrade has eliminated commissions, it’s much more appealing.
- Excellent Trading Platforms. TD Ameritrade’s thinkorswim platform is definitely among the best in its class. Plus, the everyday Web and Mobile platforms really shine too.
- Research and Education. The broker provides users with a wealth of data and information to help them make informed trades. It offers a wide variety of tools and online tutorials for new investors. The chatbot “Ask Ted” can also help you make the most of your account 24/7.
- Plenty of Investment Options. With TD Ameritrade, you can invest in everything from stocks to FOREX to annuities. Plus, it offers a wide range of account types.
- Not the Simplest Broker for Beginners. If you’re a total newbie, you might find TD Ameritrade’s platforms a little overwhelming. In fact, the site can feel so full of data and tools that it’s hard to know where to start. If you would prefer more hand-holding while you get started with investing, check out M1 Finance.
Current TD Ameritrade Promotions
From time to time, TD Ameritrade offers sign-up bonuses for new customers. However, there is no current sign-up offer.
TD Ameritrade Review – Conclusion
TD Ameritrade is one of the industry’s most acclaimed online brokers, and with good reason.
Its desktop and mobile platforms, research and education archives, and technical tools make advanced trading accessible to investors at all levels. Plus, customers can trade most stocks and ETFs commission-free.
Who is TD Ameritrade best for? If you’re already an experienced investor, or ready to dive into online trading and learn along the way, TD Ameritrade could be a good fit.
