TD Ameritrade Review

TD Ameritrade is one of the top online stock/ forex brokers because of its appealing features, which include highly accessible customer service, in-depth and detailed stock trading analysis, no minimum account sizes, and reasonable commission rates. Stocks, ETFs, futures, mutual funds, annuities, and cryptocurrency trading are among the investment products provided by TD Ameritrade. It supports investors by providing free educational materials, proprietary tools and applications, fund management, and customer service. Some trades do not require a fee, and the firm discloses all other costs.

TD Ameritrade is one of the most well-known online brokers, offering a comprehensive trading experience. TD Ameritrade would appeal to you whether you are a seasoned trader or just starting your investing career because of its intuitive user interface and sophisticated investor choices. TD Ameritrade offers managed-portfolio services to account holders in addition to educational tools and free trading platforms.

The platform delivers many of the advantages of a full-service broker while also satisfying the needs of a wide range of investors. It’s perfect for active traders who want real-time market alerts and want to trade on a safe platform. Our TD Ameritrade review will help you decide whether this is the right broker for you if you’re looking to open a trading account.

Beginner questions about TD Ameritrade Review

TD Ameritrade FX is rated a low-risk broker. TD Ameritrade FX is a publicly traded company that operates a bank and is regulated by five tier-1 (high trust), zero tier-2 (average trust), and zero tier-3 regulators (low trust).

With over 700 mutual funds on its website with expense ratios of 0.50 percent or less, and over 1,300 with investment minimums of $100 or less, TD Ameritrade excels in delivering low-cost and low-minimum funds. It’s a perfect place to start if you’re new to investing in mutual funds.

TD Ameritrade is the perfect all-around option for new investors because it offers the best mix of ease of use, educational material, and analytical resources.

A day trade is described by FINRA as any place in your account that is bought and sold (or vice versa) on the same day. As a result, TD Ameritrade permits an infinite range of day traders on cash accounts. For a margin account with a balance of less than $25,000, you are allowed three 3-day trades within five trading days.

Non-trading fees are minimal at TD Ameritrade. There is also no withdrawal charge if you use an ACH transfer. The only withdrawal method open to non-US customers is wire transfer, which costs $25.

Funds are usually credited to your account within 1-2 days of receiving your check or electronic deposit. Most securities can be traded after the funds have been posted. Electronic deposits can take 3-4 working days longer to clear, while checks can take 5-6 working days.

Customers are charged regulatory and trading fees on free trade transactions, further reducing the company’s overhead. The account fees that TD Ameritrade collects in connection with all of the services it provides are the company’s most popular source of revenue.

What is TD Ameritrade?

TD Ameritrade has been in business for quite some time. Its headquarters are in Omaha, Nebraska. Originally known as First Omaha Securities, the company was founded in 1975.

Thanks to the acquisitions and mergers of other brokerage companies, it has expanded over time. Ameritrade, TD Waterhouse, and, most recently, Scottrade were among the companies it merged and purchased.

Each acquisition added new capabilities and services to the company, allowing it to evolve into the company it is today. About 11 million funded accounts and over $1 trillion in aggregate account holders’ assets are held by the firm.

Almost every form of investment opportunity is available via the company. Common and preferred stocks, bonds, mutual funds, ETFs, options, securities, forex and money market accounts are among the company’s offerings. The company will also help you open a margin account.

The business is identical to other online brokerages, but it has a lot more branch offices around the country than you’d expect.

You can select from hundreds of investment advisors across TD Ameritrade’s 100+ branch offices. Plus, TD Ameritrade’s physical presence gives it a degree of credibility that you won’t find with other online brokers.

One of the best features of this broker is that it is ideal for investors of almost any degree of experience. TD Ameritrade has tools for you, whether you’ve just made a few trades or are a seasoned trader, including analysis and data, as well as advice on how to develop your portfolio.

Who TD Ameritrade Is For?

Since TD Ameritrade is one of the largest online brokers in the United States, it provides a variety of platforms for traders of various skill levels. The comprehensive educational offerings help new investors gain confidence and allow them to branch out into different asset classes as their skills develop.

The thinkorswim platform provides active investors and traders with all of the info, charting, and resources they need to identify market opportunities. The sheer amount of research and resources available through TD Ameritrade can be daunting.

People with more experience than “absolute beginner” would, however, find the platform very useful. This platform is recommended for both seasoned investors and others who are just getting started but are not completely new to investing. The free analysis and data resources will help you expand your body of knowledge.

Ameritrade Platforms and Tools

Number one in the rankings once again, TD Ameritrade is the best trading platform and tool for the ninth year in a row, thanks to desktop-based thinkorswim. Thinkorswim desktop is a winner whether you’re day trading options or futures. Furthermore, TD Ameritrade’s new addition, thinkorswim web, is perfect for casual investors.

Thinkorswim desktop charting

Thinkorswim's charting is only rivalled by TradeStation in terms of sophistication. With just a few mouse clicks, you'll have hundreds of charts displaying real-time info. The 400+ technical studies available, which is the most in the industry, will satisfy even the most discerning trader. Even better, thinkScript, thinkorswim's proprietary coding language, allows each study to be personalised.

Thinkorswim desktop trading tools

The thinkorswim platform from TD Ameritrade offers a diverse set of tools. Virtual trading with artificial currency, advanced profit analysis, plotting economic (FRED) data, charting popular sentiment, backtesting with thinkOnDemand, and even tick-by-tick replaying of historic transactions are just a few of the highlights. Traders can also build and run real-time market scans, share charts, and workspace templates, as well as perform advanced options analysis, using TD Ameritrade.

Thinkorswim desktop earnings analysis

The favourite method for anticipating earnings reports and analysing each company's performance afterward is the thinkorswim Earnings Analysis tool. The tool charts market behaviour and volatility. It also maps EPS estimation ranges alongside real results using data from Wall Street analysts and crowd-sourced scores from Estimize. The whole experience leaves you with a lot less noise and a lot more clarity.

Thinkorswim web

In comparison to thinkorswim desktop, TD Ameritrade's newest app, thinkorswim web, makes it simple for traders to monitor their accounts while still having access to key trading features. For example, top-tier vendors such as Dow Jones Newswire include headlines, and provide 11 indicators, while thinkorswim desktop includes numerous news services and over 400 indicators.

How Does TD Ameritrade Work?

TD Ameritrade’s most popular features include a wide range of account options, a wide range of investment options, educational tools, and a number of trading platforms.

TD Ameritrade has won several awards from Stockbrokers.com, including #1 overall broker, for its excellent customer service and strong analysis software, as well as accounts with no maintenance fees and no minimum opening balances.

The Better Business Bureau has given it a B rating, and the Apple App Store has given it a 4.5 out of 5-star rating. Users on Android gave the app a lower rating, awarding it a 3.5 out of 5-star rating. According to some TD Ameritrade customer reviews, the Android app is a little buggy, and the options can be daunting for beginners. Overall, consumers praise the user-friendly trading platforms, low rates, and a range of investment and trading options.

Firewalls and 128-bit encryption are used by TD Ameritrade to secure customer data. They also educate their employees about how to spot fraudulent behaviour and limit employee access to customer information. To secure their accounts, users can use security questions or one-time codes, and TD Ameritrade provides free malware scanning software downloads.

TD Ameritrade Features

TD Ameritrade Brokerage Fees

TD Ameritrade revealed in October 2019 that it was changing its fee structure to cover free equity, ETF, and option trades online. As long as you’re comfortable trading independently via your online account, the company will provide a low-cost investing experience.

The rest of TD Ameritrade’s fee structure, however, is fairly normal. There aren’t any big fees to be aware of at TD, but trading online rather than over the phone or with the help of a broker can save you the most money. These need very little company action, which explains why the associated fees are so modest.

TD Ameritrade Customer Support

TD Ameritrade, as one of the country’s largest investment companies, has a solid customer service network, and it does not disappoint. Customers can first and primarily trade 24 hours a day, five days a week on their platforms. If you have any questions about the firm’s services or investing in general, call (866) 839-1100 or use the chat feature on your online or mobile accounts to contact customer service.

TD Ameritrade pros and cons

TD Ameritrade has low trading costs and one of the biggest desktop trading platforms on the internet, Thinkorswim. Its customer service team responds quickly and accurately.

On the negative hand, TD Ameritrade services are only available in the United States and a few other countries, and you can only trade on US markets. TD does not allow credit/debit cards or mobile wallets for transfers of money.

Major investment categories include

Is TD Ameritrade right for you?

In the brokerage and robo-advisor worlds, you’ll have a long list of options to choose from, whether you’re investing for short- or long-term savings goals. Most brokers have similar advantages, such as commission-free transactions, low minimum opening deposits, and investing tools and services, but you can consider other considerations such as account types, investment opportunities, trading platforms, and customer support.

If you choose DIY (or active) trading over passive investing, TD Ameritrade may be a good match for you. Also, customers who trust strong analysis methods and fee-free trading opportunities would find TD Ameritrade to be the most valuable.

Morningstar Fund Management experts provide TD clients with industry research as well as a variety of trading channels and investment instruments. TD Ameritrade also provides a variety of investing options, including mutual funds with no transaction fees.

Bottom Line

TD Ameritrade is ideal for active traders who want to trade across multiple platforms. Since the firm offers both self-directed and automatic investment funds, it could be a good fit for those looking for professionally run portfolios.