TD Ameritrade is a publicly traded online broker, boasting more than 7 million customers and processing roughly 650,000 transactions every day. Its robust portfolio facilitates stock, fx, futures, options, ETFs, and other securities. This review will analyze all aspects of their offering, such as accounts charges, trading platforms, mobile programs, plus a lot more.
The company provides a selection of trading platforms also have been first on the market with advanced trading tools. This allowed them to give all-level traders a versatile trading platform.
There is a selection of account options that also cater to several kinds of traders.
The thinkorswim platform was initially another brand completely but has been introduced under the TD Ameritrade brand. This compliments the other platforms, which delivered internet-based or cellular trading on Android and iOS. While the programs do need some getting used to, they’re feature-rich and flexible.
The conventional individual TD Ameritrade trading accounts are comparatively simple to open. As soon as you’ve filled in the necessary forms and TD Ameritrade have completed their assessment, you can begin trading. As stated previously, no deposit is needed to start an account. On the other hand, the minimal digital funding is $50.
You will need a $2000 minimum balance if you want to use margin. This will let you double your purchasing capability, but you might need to pay interest on the loan.
Whether you reside in the United Kingdom or Canada, you’ll have access to the identical powerful TD Ameritrade trading platforms as soon as you sign in to your broker account. You’ll have three choices, TD Ameritrade.com and Trade Architect, that are online, in addition to the desktop program thinkorswim.
This online platform is great for new day traders seeking to ease their way in. Having said this, you’ll be satisfied with a whole slew of advice, which may make site navigation somewhat hard. Luckily, you can use the ‘Ask Ted’ chatbot, which will have the ability to answer queries.
You also receive access to your Portfolio Planner instrument. This permits you to construct a target asset allocation plan, helping to produce a balanced portfolio of securities. You may choose between a normal version, or you can build and customise one yourself to guarantee optimal results with your strategy.
TD Ameritrade’s Trade Architect is another level up concerning trading instruments and real time capabilities. For instance, you get newsfeeds, market heat maps along an entire slew of order types. The platform is straightforward. Accessing data feeds is simple. You can customise graphs, and you’ve got 30 stock and option screeners.
The machine has also been streamlined, so finishing basic tasks, like setting stop-loss limits and monitoring stop orders, is fast and hassle-free. Additionally, you can find alternative trading applications, for example, probability analysis, gain and loss charts, in addition to goal zone tools. Because of this, Trade Architect is a fantastic selection for traders with some experience looking to spend a small sum of money.
The main draw in the platform offering. As soon as you download this background system, serious traders can benefit from each of the qualities found in Trade Architect, as well as from advanced trade capacities. In reality, it’s so intricate that just TradeStation provides such a comprehensive platform.
You receive access to heaps of graphs streaming real-time info and more than 300 technical researches for each graph. This is the maximum amount in the business and customisable study. Research ThinkScript, which is thinkorswim’s proprietary programming language, and you can also make your indexes.
Additionally, you have:
- Company profiling
- Plotting FRED information
- Screeners that are customisable
- Complex earning evaluation tools
- Real-time inventory scanning and sharing graphs
- Capability to replay historic markets tick by tick
- Accessibility to both corporate and economic calendars
Seasoned traders will struggle to locate this innovative, dependable and easy-to-use platform. Customisation can go so far as the consumer’s creativity will take them. Thus, concerning trading platforms and tools, TD Ameritrade user testimonials report the greatest levels of satisfaction.
Also, all three platforms may be used to exchange a massive array of tools, from penny stocks to cryptos, including Ethereum and Litecoin.
Minimum Initial Deposit
Among the immediate advantages of a TD Ameritrade brokerage account is that there’s no minimum deposit requirement. This is fantastic for beginners and people who have limited initial funding. In reality, this is excellent compared to pricing in other opponents, where accounts minimums can vary from $500 to $10,000.
Spreads & Commissions
Reviews and studies reveal TD Ameritrade did not score so well concerning margin rates and commission charges. Commissions surpass the market average at $6.95 per stock and ETF exchange. This is two times as pricey as any other discount broker. If you compare TD Ameritrade vs Etrade, Interactive Agents and Scottrade, it’s just Etrade that charges just as much.
That being said, you may gain from 101 commission-free ETFs. The other drawback is that all commission-free ETFs sold within 30 days are subject to a $13.90 trading fee.
The question will be answered below – will there be effective trading tools and extensive research tools sufficient to create these large brokerage fees with great value for the money?
There’s a variety of special offerings and advertising bonuses available to traders. In reality, new account cash rewards range from $100 for deposits between $25,000 and $99,999 to $1000 for high-dollar accounts.
In addition to the deposit bonuses, TD Ameritrade sometimes releases promo codes and provides users with up to 500 free transactions. Keep an eye out for transfer bonuses, too!
Forex spreads are quite an industry standard, and you might also gain from fx leverage. This is financing, letting you expand your standing and possibly boost profits. Nevertheless, margin trading may additionally minimise losses.
Additionally, TD Ameritrade’s margin prices are among the priciest in the business. The bottom margin rate is 7.75%, while the highest rate is 9 percent. You will also have to hold a $2,000 minimum account balance for a margin account.
Other Trading Charges
When you’ve got your login information and begin trading, you’ll encounter specific trade charges. For instance, domestic wire withdrawal will probably cost $25. Account transfers will charge $75, and a forced margin sellout is billed at $25 plus broker commission.
Other than that, they are pretty transparent. Additionally, you won’t need to pay any yearly or inactivity commission, unlike Interactive Agents.
In general, TD Ameritrade is greater than average concerning spreads and commissions. But, their minimum account requirements and big promotions help negate a number of the price. If you’re searching for a cheap beginning along with generous money welcome, subsequently TD Ameritrade might be a sensible option.
Once you open a new account, two smartphone applications, TD Ameritrade Smartphone and TD Ameritrade Mobile Trader are also available. The former is made for novices and casual traders. The latter is to get exceptionally active traders that need many features and advanced performance. Overall, iPhone, iPad and Android application reviews are extremely positive.
TD Ameritrade Mobile
Even though you can sign in with your username and password, you will also find Touch ID login possibilities. As soon as you’re in the application, you can rearrange places and observe list perspectives. Accessing in-depth research is simple, whilst seeing margin balance and account info is fast and simple.
Additionally, you can use Social Signals analysis. You will also find the application can be used with iOS and Android gadgets alike.
TD Ameritrade Mobile Trader
The Mobile Trader app allows for innovative charting, using an impressive 328 technical studies. Additionally, you receive a very long list of order choices. The interface is slick and simple to navigate. Reviews reveal even making complicated options transactions is stress-free.
You’ve got an in-app chat service that will directly connect you to some customer service adviser if you have any issues and the program isn’t functioning.
There’s a screen sharing purpose. This permits you to connect your thinkorswim desktop system to the Mobile Trader program. You merely choose the estimates tab, pick a color near the search bar which fits in thinkorswim, pull a quotation, and thinkorswim will follow your guide. It’s so comprehensive that some users assert it’s now the very best in the business.
Some reviews indicate that displaying and setting innovative alerts would enhance the Mobile Trader application even further.
Methods of Payment
Clients can make immediate deposits and draw funds with comparative ease through the TD Ameritrade network.
It is possible to opt to electrically transfer cash from the back to your TD Ameritrade account. You will need your bank account number and any appropriate security codes. Completion typically takes 30 min – 3 business days. But you need to move a minimum of $50 and move a maximum of $250,000.
Wire transfer is the most common funding process. There are no contribution limits, so it takes one business day. However, you may need to review your bank’s other day trading laws or wire transfer fees.
You may also use Paypal to fund your accounts and also make withdrawals. Eventually, they might also fund your account through checks or an outside securities transfer. It can also be worth going to their site to check for any present rewards or offers for utilizing special funding procedures.
TD Ameritrade also supplies an entirely free demonstration account named PaperMoney. Funded with simulated cash, you do not need to risk real funds till you feel confident. This is an excellent chance to get knowledgeable about the markets and create approaches. Additionally, it is a wonderful way to check the TD Ameritrade trading platform.
To paper trade, you need only a few essential details, such as your name, email address, phone number and place. As soon as your confidence has increased, it is simple to shut your trial account and update it to a live trading account.
User reviews display satisfaction with a number of useful additional features, including:
- Social Signals – The Social Signals feature supplies a real time streaming feed of algorithmically filtered important tweets. Many believe this is simpler to work with than StockTwits.
- Peer Comparison – The Peer Comparison tab lets you find clean customisable charts demonstrating a security’s current performance against its rivals. That is then followed with a table of applicable metrics.
- Free Research – You can find streaming information out of Zacks, Dow Jones, briefing.com, and quite a few different resources. Additionally, you can check out Market Edge, CFRA, Credit Suisse and Vickers.
- Interactive learning – TD Ameritrade provides a number of opportunities to learn from videos, posts, slideshows, and quizzes. They will track your success, achievements and virtual trophies as you advance. Actually, video training reports show how robust and helpful are their educational tools.
- Earnings calendar tools – This permits you to monitor earnings statements of businesses of interest. It can help you prepare yourself for upcoming data releases and forecast future price moves.
Regulation & License
In the day trading world, it is important to be able to trust your agent. Assessing they are appropriately controlled and licensed, thus, is vital.
Over four decades, TD Ameritrade was known for easing regulated global accessibility to traders. The business is controlled by FINRA. Additionally, FDIC (deposit accounts held at TD Bank) and SIPC cover client accounts. Moreover, London insurers have excess-SIPC coverage.
All that means is that in a number of situations, like TD Ameritrade being insolvent, the assets are safe. They’re authorised in many countries, from the States to Hong Kong. Check their website to see regulatory information for your location, however.
- There’s a massive choice of instruments.
- You receive quick and dependable customer support.
- That can be made advanced orders, such as OCO and brackets.
- TD Ameritrade provides abundant comprehensive research and educational tools.
- Extended 24/7 trading hours permits for global accessibility into the markets.
- They ease automatic synching between mobile and desktop trading platforms.
- There’s access to over 350 specialized researches, 20 drawing and 8 Fibonacci tools.
- You receive free access to this innovative thinkorswim platform, without an account minimum.
- More than 100 commission-free ETFs and hundreds of mutual funds at no-transaction-fee are available.
- Portfolio margin provides users improved leverage by highlighting margin demands on overall portfolio risk.
- You can choose between three trading sites, ensuring traders at all skill levels have a platform.
- You will find automatic trading capacities, including robo-advisors in their Investment
- Management Services and Essential Portfolios. Reviews of that reveal high levels of consumer satisfaction.
- The Economic Data tool permits access to a range of information regarding the health of global markets.
- On the platform, you’ll discover active chat rooms to discuss thoughts and speak with thousands of seasoned traders.
Regardless of the amount of TD Ameritrade advantages listed above, there are also many drawbacks:
- Trading prices are inescapably high.
- Broker-assisted commerce commissions are approximately $44.99, though other companies keep costs around $25 to $35.
- When you sell any of your commission-free ETFs within 30 days, you will get hit with a $19.99 short-term trading fee.
- You also have strict margin maintenance conditions to contend with.
- Safety could be improved via using a two-factor authentication attribution. A characteristic which many competitions do provide.
- New traders might be overwhelmed with the huge quantity of tools and information out there. Because of this, novice traders might want to search for a more streamlined trading platform.
For that trading bitcoin to penny stocks, each of the aforementioned factors have hauled down TD Ameritrade reviews and evaluations. But, there remain several advantages. So if the pros outweigh the disadvantages is going to be a personal option.
TD Ameritrade office and trading hours are business standards. The business was among the first to declare that it would provide 24-hour trading. This means users can respond immediately to significant events and news like global elections.
This move also improved their allure in Asia, as people who were fascinated with US stocks could currently speculate on price movement.
Therefore, for those considering premarket hours along with a selection of tools, from index funds to bitcoin (BTC) options and futures, there’ll always be a trade chance at TD Ameritrade.
Contact & Customer Care
TD Ameritrade also provides 24/7 email, fax, and even Facebook Messenger service. User reports indicate waiting time was less than two minutes. Help comes in many languages, including French, Spanish, Cantonese, Mandarin. Just head over to their website for your 24-hour call.
They answer emails usually in 12 hours. Agents are well trained using an in-depth understanding of the two trading platforms and accounts. They ought to be able to aid you with TD Ameritrade.com login issues or when the site goes down.
Sadly, the online chat service ‘Ask Ted’ is just for consumers using the thinkerswim app. There’s room for change here. But if you have access to live chat, they will support you with issues from forgotten usernames and premarket trading to referral rewards and acceptance options.
Overall then, reviews reveal traders were content with TD Ameritrade’s customer service and helpdesk. But if you would like direct contact, you can head down to their various offices or attend one of their events. You could even visit their ‘Contact Us’ section for the closest mailing address in your area.
A Quick History Overview
In their headquarters at Omaha, Nebraska, TD Ameritrade has been serving clients since 1971. The broker has almost 50 decades of expertise in industry firsts, such as:
- 1998 – TD Ameritrade was among the first to launch the exchange in touch-tone.
- 1994 – They were also one of the first electronic day-trading leaders.
- Late 1990s – TD Ameritrade introduced order entry options online and confirmations of electronic trade via email.
- 2000s – They had been the first to ensure trade execution rates of 10 minutes and present paperless accounts production.
Thus, over the years, they have made news headlines supplying innovative solutions to trader issues. As a result, they now deliver genuinely global investing in a wide variety of assets, including bitcoin, money market mutual funds, shares, and other fixed-income instruments.
Head over to their official site, and you’ll observe the goal of the broker exchange has stayed the same. They’ve been enabling customers by helping them take charge of their lives, as they claim. However, what do user testimonials say when you delve deeper under the headlines?
Safety & Security
TD Ameritrade takes client security extremely seriously, as they ought to do. This implies private information is kept protected via innovative firewalls. Anomaly intrusion and detection technologies can also be utilized to detect any strange behavior from the accounts.
TD Ameritrade sites are secure and utilize 128-bit encryption to transmit all information between your personal computer and their sites.
There’s also a TD Ameritrade’s Asset Protection Guarantee that will refund your accounts should you lose any money due to unauthorized action. Their site says they will reimburse you for the money or stocks of securities you lost.
However, despite your account and data being comparatively secure, there’s room for some improvement. For instance, two-factor authentication would further boost their present system.
TD Ameritrade Verdict
TD Ameritrade is an industry leader concerning its trading platforms and accessibility to high quality educational and research tools. Throw in a $0 deposit requirement, comprehensive user guides and accessibility to trading, and they ought to be a serious competitor in your broker shortlist.
But, highly active traders might wish to think twice due to large commissions and margin prices. The deficiency of hotkeys and immediate accessibility routing could also give reason to traders to think twice. Overall, if you are a reasonably active trader who would like a highly effective platform and access to comprehensive study, subsequently TD Ameritrade could well be the ideal option.
TD Ameritrade only accepts traders from the U.S.