TD Ameritrade is a publicly traded online broker with over 7 million users and processing approximately 650,000 trades daily. Our comprehensive offering facilitates trading in stocks, forex, futures, options, ETFs and other securities. In this review, we look at all aspects of the service, including account fees, trading platform, mobile app, and more.

 

 

The company offers a variety of trading platforms and was the first to enter the market with innovative trading tools. This has allowed us to provide a flexible trading hub for traders of all levels.

They have different types of account options and cater to different types of traders.

The thinkorswim platform was originally a completely different brand, but has now been brought under the TD Ameritrade umbrella. This complements other platforms that have already offered web-based or mobile trading on Android or iOS. The platform takes some getting used to, but it’s feature-rich and flexible.

Account types

A standard individual TD Ameritrade trading account is relatively straightforward. Once you have filled out the required form and TD Ameritrade has checked, you can start trading. As mentioned above, there is no minimum deposit required to open an account. However, the minimum electronic funds is $50.

Margin requires a minimum balance of $2,000. This allows you to double your purchasing power, but you may have to pay interest on the loan.

Trading platforms

Whether you live in the UK or Canada, simply log in to your brokerage account and you will have access to the same powerful TD Ameritrade trading platform. In fact, there are 3 options: TD Ameritrade.com and Trade Architect, both web-based and desktop application thinkers.

TD Ameritrade.com

This web-based platform is ideal if you want to familiarize yourself with new traders. Fortunately, you can take advantage of the ‘Ask Ted’ chatbot that can answer your questions.

You can also access the Portfolio Planner tool. This allows you to create a balanced portfolio of securities by creating a targeted asset allocation plan. You can choose from standard models or build and customize your own to ensure optimal results with your strategy.

trade-architect

TD Ameritrade’s Trade Architect is a step up in terms of trading tools and real-time capabilities. For example, you can get news feeds, market heat maps, and full order types. The platform is also clean and easy to use. Accessing the data feed is simple, the charts are customizable, and there are 30 stock and options screeners.

The system has also been streamlined, allowing you to quickly and easily complete basic tasks such as setting stop loss limits and placing trail stop orders. It also has options trading tools such as probability analysis, profit and loss graphs, and target area tools. As a result, Trade Architect is a good choice for experienced traders with little money invested.

thinkerswim

Originally a standalone broker until its acquisition by TD Ameritrade in 2009, thinkorswim is considered the crown jewel of its platform offering. By downloading this desktop platform, you can take advantage of all features and advanced trading features of Trader Architect. In fact, only TradeStation is sophisticated enough to offer such a comprehensive platform.

 

 

You get access to dozens of charts streaming real-time data and over 300 technical studies for each chart. This is actually the highest number in the industry and each study is customizable. Explore ThinkScript, thinkorswim’s proprietary coding language, and you can even create your own indicators.

You also:

  • Backtesting
  • Company profiling
  • Plotting FRED data
  • Custom screener
  • Sophisticated income analysis tool
  • Real-time inventory scanning and sharing charts
  • Ability to replay past market ticks tick by tick
  • Access to both economic and company calendars

 

Experienced traders will struggle to find such an advanced, reliable and easy-to-use platform. It can be customized as much as your imagination desires. So, when it comes to trading tools and platforms, TD Ameritrade user reviews report the highest levels of satisfaction.

Additionally, all three platforms can be used to trade instruments ranging from penny stocks to cryptocurrencies such as Ethereum and Litecoin.

Minimum initial deposit

One of the immediate benefits of a TD Ameritrade brokerage account is that there is no minimum initial deposit requirement. This is great for beginners and those with limited starting capital. In fact, this is fantastic compared to the prices of other competitors with account minimums ranging from $500 to $10,000.

Spreads and Commissions

According to reviews and research, TD Ameritrade does not score well in terms of margin rate and commission fees. Commissions are higher than the industry average of $6.95 per trade in stocks and ETFs. This is actually twice as expensive as other discount brokers. In fact, only Etrade is charged when comparing TD Ameritrade to Etrade, Interactive Brokers and Scottrade.

However, you can benefit from the commission-free 101 ETF. The only downside is that commission-free ETFs sold within 30 days of purchase are subject to a $13.90 transaction fee.

But the question I will answer below is, are powerful trading tools and extensive research resources enough to make high brokerage fees worth the money?

 

 

Bonus

There are various special offers and promotional bonuses for new traders. In fact, new account cash bonuses range from $25,000 to $99,999 for deposits between $100 and $1000 up to $1000 accounts up to $1000 promotions.

In addition to deposit bonuses, TD Ameritrade occasionally releases promo codes and offers users up to 500 free trades. It is also worth keeping an eye on their website for transfer bonuses.

Benefit

Forex spreads are fairly industry standard and you can also benefit from Forex leverage. Since this is essentially a loan, it can boost your position and potentially boost your profits. However, margin trading can also amplify your losses.

Additionally, TD Ameritrade’s margin costs are among the most expensive in the industry. The base margin rate is 7.75% and the maximum rate is 9%. You must also have an account balance of at least $2,000 on your margin account.

Other trading fees

When you start trading with your login information, certain trading fees will be incurred. For example, a domestic transfer costs $25. Wire transfer costs $75 and forced margin sell-out is charged at $25 + broker fee.

Nonetheless, TD Ameritrade’s pricing structure is fairly transparent. And unlike Interactive Brokers, you don’t have to pay an annual or inactivity fee.

Overall, TD Ameritrade is above average in terms of commissions and spreads. However, there are no minimum account requirements and generous promotions may negate some of that cost. So if you’re looking for low futures, options, and mutual fund fees, you might want to look elsewhere. If you’re looking for a cheap start and a generous cash welcome, TD Ameritrade might be a smart choice.

Mobile apps

When you open a new account, you also get access to two mobile apps: TD Ameritrade Mobile and TD Ameritrade Mobile Trader. The former is designed for beginners and casual investors. The latter is for active traders who need tons of features and advanced features. Overall, iPhone, iPad and Android app reviews are very positive.

TD Ameritrade Mobile

You can log in with your username and password, but it also features Touch ID login. Once inside the app, you can customize your location and watchlist view. You can easily access a lot of in-depth research by checking your margin balance and viewing your account information quickly and easily.

You can also take advantage of social signal analysis. Also, the mobile app is compatible with iOS and Android devices.

TD Ameritrade Mobile Trader

The Mobile Trader application allows you to build advanced charts with an impressive 328 technical studies. Also, the list of ordering options is extensive. The interface is slick and easy to navigate. According to reviews, even complex options trading is stress-free.

There is in-app chat support, so if you have any issues or the app doesn’t work, you’ll be connected directly to our customer service managers.

There is also a screen sharing feature. This allows you to connect your Thinkorswim desktop platform to your Mobile Trader application. You simply select the Quotes tab, choose a color next to the matching search box on thinkorswim, pull up Quotes and thinkorswim will follow your lead. In fact, it’s so thorough that some users claim it’s the best in the industry right now.

Some reviews suggest that the ability to curate and set advanced notifications could make the Mobile Trader app even better.

Payment methods

Customers can make direct deposits and withdrawals of funds through the TD Ameritrade network with relative ease.

You may choose to have your money wired electronically to your TD Ameritrade account. You will need your bank account number and associated security code. Completion usually takes 30 minutes to 3 business days. However, you must transfer at least $50, and you can transfer up to $250,000.

The most popular funding method is bank transfer. There is no contribution limit and completion time is 1 business day. However, you may need to check other transaction rules or bank transfer fees imposed by your bank.

You can also use Paypal to fund your account and make withdrawals. Finally, you can also fund your account by check or transfer of external securities. It’s also worth heading over to their website to check out current rewards or offers for using certain funding methods.

Demo account

TD Ameritrade also offers a completely free demo account called PaperMoney. With mock money financing, you don’t have to risk real capital until you feel confident. This is a fantastic opportunity to familiarize yourself with the market and develop your strategy. It is also a fantastic way to test out the TD Ameritrade trading platform.

To place a paper trade, all you need is a few basic pieces of information including your name, email address, phone number and location. Once your confidence grows, it’s simple to close your demo account and upgrade to a live trading account.

Additional features

User reviews show their satisfaction with the helpful extra features present in TD Ameritrade’s offering, including:

  • Social Signals – The Social Signals feature provides a real-time streaming feed of relevant tweets, algorithmically filtered. You will also get a summary chart of the most talked about brands. Many people find this easier to use than StockTwits.
  • Peer Comparison – The Peer Comparison tab lets you find neat, customizable charts displaying your security’s up-to-date performance against your competitors. This is followed by a table of related metrics.
  • Free Research – You can find streaming news from Zacks, Dow Jones, briefing.com, and many other sources. There is also analysis from Market Edge, CFRA, Credit Suisse and Vickers.
  • Interactive learning – TD Ameritrade offers a variety of ways to learn, from videos and articles to slideshows and quizzes. In addition, it monitors your progress and awards points and virtual trophies as you improve. In fact, video training reviews are quick to highlight how comprehensive and helpful the training resources are.
  • Earning Scheduling Tool – Track earnings announcements from companies of interest. It helps prepare for future data releases and predict future price movements.

Regulation and license

In the world of day trading, you need to trust your broker. Therefore, it is essential to ensure that they are properly regulated and licensed.

For over 40 years, TD Ameritrade has been recognized for facilitating regulated international trader transactions. The company is regulated by FINRA. Additionally, customer accounts are protected by FDIC (deposit account held at TD Bank) and SIPC. London insurance companies also offer excess SIPC coverage.

What this means is that your funds are protected in a variety of scenarios, including TD Ameritrade going bankrupt. Licensed in locations ranging from the US to Hong Kong. However, be sure to visit the full website for regulatory details in your region.

Benefits

There are many reasons to choose TD Ameritrade.

  • There are many devices.
  • Get fast and reliable customer service.
  • You can place advanced orders including OCOs and square brackets.
  • TD Ameritrade offers a wealth of in-depth research and educational resources.
  • Extended 24/7 trading hours allow international access to the markets.
  • Facilitates automatic synchronization between desktop and mobile trading platforms.
  • Access to over 350 technical studies, 20 drawing tools and 8 Fibonacci tools.
  • You don’t need an account to access the advanced thinkers platform for free.
  • Get access to over 100 commission-free ETFs and hundreds of transaction-fee-free mutual funds.
  • Portfolio Margin increases leverage for some users based on margin requirements for total portfolio risk.
  • You can choose from three trading platforms, and there is one for traders of all experience levels.
  • There are automated trading features including robo-advisors in investing
  • Management services and essential portfolios. Reviews demonstrate a high level of customer satisfaction.
  • The Economic Data Tool gives you access to a wealth of data about the health of the global economy.
  • The platform features an active chat room where you can share ideas and connect with thousands of experienced traders.

Disadvantages

Despite the number of TD Ameritrade benefits listed above, there are a number of downsides:

  • Transaction costs are inevitably high. When you put TD Ameritrade against OptionsHouse and other competitors, you’ll find that TD Ameritrade’s commission rates, especially for stocks and ETFs, are well above the industry standard.
  • Selling commission-free ETFs within 30 days will incur a $19.99 short-term trading fee.
  • The broker-assisted transaction fee is around $44.99, while other companies keep the price around $25 to $35.
  • There are also strict margin maintenance requirements.
  • You can improve your security by using the two-factor authentication feature. This feature is provided by several competitors.
  • New traders can be overwhelmed by the sheer amount of information and tools available. As a result, novice traders may want a cleaner, more concise trading platform.

If you are trading bitcoin for penny stocks, all of the above points have pulled down the TD Ameritrade reviews and ratings. However, numerous positive comments remain. So, it will be your personal choice that the pros outweigh the cons.

Trading hours

TD Ameritrade trading and working hours are industry standard. The company was one of the first to announce that it offers 24-hour trading. This means users can react instantly to events such as nightly elections and elections around the world.

The move has increased its appeal to Asia, as those interested in US stocks can now speculate on price movements. During the off hours between 20:00 EST on Sunday and 20:00 EST on Friday, customers can trade 12 ETFs.

So, for users interested in a range of commodities, from premarket and index funds to Bitcoin (BTC) futures and options, there is always a trading opportunity at TD Ameritrade.

Contact & Customer Support

TD Ameritrade now offers 24/7 support via email, text and Facebook Messenger. According to user reviews, wait times for phone support were less than two minutes. Support is available in multiple languages including English, Spanish, Cantonese and Mandarin. Visit our website for 24 hours.

Emails are usually returned within 12 hours. Agents have in-depth knowledge of trading platforms and accounts. TD Ameritrade.com can help with login issues or website down.

Unfortunately, ‘Ask Ted’ live chat support is only for customers using the thinkorswim platform. So there is room for improvement in this area. But if you don’t have access to live chat, we’ll help with everything from forgotten usernames and pre-market deals to referral bonuses and option approvals.

Overall, the review revealed that traders were very satisfied with TD Ameritrade’s customer support and help desk. However, if you would like direct contact, you can head to our numerous offices or attend one of our events. Go to the ‘Contact Us’ section for the nearest mailing address for your area.

A brief history

TD Ameritrade has been serving customers since 1971 from its headquarters in Omaha, Nebraska.

  • 1998 – TD Ameritrade was one of the first to introduce touch tone trading.
  • 1994 – Also one of the first companies to pioneer online trading.
  • Late 1990s – TD Ameritrade introduced online option order entry and electronic transaction confirmation via email.
  • 2000s – first introduced paperless account creation with guaranteed transaction execution speed of 10 seconds.

Thus, over the years they have consistently made news headlines offering innovative solutions to traders problems. As a result, it offers truly global trading across a wide range of instruments, including Bitcoin, money market mutual funds, bonds and other fixed income securities.

Go to the official website and the goal of any brokerage exchange will always remain the same. They “empower their clients by helping them take control of their financial lives” But what do the user reviews say when you look under the headlines?

Safety Security

TD Ameritrade takes the safety and security of its customers very seriously. This means your personal information stays safe with our advanced firewall. Anomaly detection and intrusion technologies are also used to detect unusual behavior in your account.

The TD Ameritrade website is secure and uses 128-bit encryption to transmit all data between your computer and the website.

There is also an asset protection guarantee from TD Ameritrade. If funds are lost due to unauthorized activity, the account will be reimbursed. Their website says they will “reimburse you for cash or shares of your lost securities.”

However, while your data and account are relatively safe, there is some room for improvement. Two-factor authentication, for example, makes the current system even better.

TD Ameritrade Verdict

TD Ameritrade is the industry leader for trading platforms and high-quality research and educational resources. Offer a $0 minimum deposit, detailed user guide and access to after-hours deals. This should be a serious contender for your shortlist of brokers.

However, active traders may want to think twice as a result of high commissions and margin rates. There are no custom hotkeys and even direct access routing can be paused. Overall, if you’re a mid-level active trader looking to access a robust platform and extensive research, TD Ameritrade could be the right choice for you.

Accepted countries

TD Ameritrade only accepts traders from the US.