TD Ameritrade

TD Ameritrade Review

TD Ameritrade is a well-known name in the brokerage industry, and it is also one of the most popular brokers out there. With almost nine thousand employees and over one trillion in client assets, TD Ameritrade has been around since 1971. It has years of longevity and reach, and the broker itself has three different trading platforms and a $0 minimum balance requirement (a rare thing in the industry). As of 2017, TD Ameritrade had over eleven million client accounts on its network.

TD Ameritrade works for traders of all levels, and it has a range of tradeable assets available for interested entrepreneurs. Their customer support is dedicated, and its website is easy to use and very informative. TD Ameritrade is a standout broker in the industry, and its millions of clients can attest to that.

Tradeable Assets

Tradeable assets at TD Ameritrade include stocks, mutual funds, bonds, ETFs, options, Forex, and futures. There are over 4,000 mutual funds with no transaction fee required. There are also almost 300 commission-free ETFs. Should you choose to trade stocks, you will have access to a variety of tools such as real-time quotes, third-party analysis, charts, and more to help you make the best decisions possible. TD Ameritrade makes trading innovative with its educational tools. For stock trading, the fee is $6.95. For options, it is $6.95 plus 95 cents per contract.

Account Types

There are different accounts you can open, and all depend on what you are planning to invest and what your goals are. There is a standard, retirement, education savings, and business/trust account available. Within each account type, there are different subcategories (for example, for retirement, you can choose traditional IRA, rollover IRA, Minor IRA, etc.). You can sign up for an account online by providing financial information, identification, and documentation as to what you’re looking to do with your account.

Regulation

TD Ameritrade is regulated by the Financial Industry Regulatory Authority (FINRA). TD Ameritrade is BSA/AML- and OFAC-certified.

Platforms

TD Ameritrade’s platforms include web, mobile, and download. The web platform is best for new investors, serving as a sort of “on-ramp” for people looking to get started in the industry. From there, the downloads of Trade Architect and Thinkorswim are a boost in sophistication (though the website does not fall short in sophistication itself). Trade Architect includes tools such as research, real-time information (charts, quotes, etc.), and real-time features. It is designed for active stock traders and options investors. Trade Architect is especially useful for options traders, as it has probability analysis, graphs, and stop/loss tools at its disposal. Thinkorswim is a step up from that. Thinkorswim is a desktop platform that has advanced trading capabilities, tech tools, backtesting capabilities, and a mock account paper trading feature called “paperMoney.” Thinkorswim is for high-level, serious traders.

TD Ameritrade Mobile Trading

TD Ameritrade’s third platform, mobile, comes in two app forms. The first TD Ameritrade app has the functions of the web platform. The second, TD Ameritrade for Trade Architect or Thinkorswim, is for the downloadable platforms above that are for experienced traders. So far, the mobile apps have been well-reviewed, with customers complimenting their functionality and smooth interfaces.

Promotions

TD Ameritrade’s promotions really are more cash bonus-oriented. The bonuses range from $100 for deposits from $25K to $99,999, to $600 for deposits of over $250K.

Deposit Options

There is no minimum opening deposit requirement. But, if you want to be considered for margins and options privileges, the minimum is $2,000. This minimum is required regardless of a promotional offer. You can fund your account via an ACH (electronic bank) deposit, wire transfer, check, external securities transfer, or a physical stock certificate.

Withdrawal Methods

You can withdraw using ACH, wire transfer, debit card, or ATM. You can withdraw funds to your bank, or, if you’re doing a securities transfer, you may have to make a request from another firm. You can withdraw funds sixty days after your account has been opened, if you are using electronic funding, or, for wire funding, immediately.

Customer Support

Customer support is available via phone, email, and in-person at available branches. There is also an informative, comprehensive FAQ page that should answer most of your questions.

Ease of Use

TD Ameritrade has a lot of features, but its multiple downloadable options and apps make it easy to navigate. The website isn’t difficult to understand, and the apps themselves are also simple. TD Ameritrade’s customer service team is highly dedicated, aiding you in finding any resources you may need.

Why Trade at TD Ameritrade

TD Ameritrade has been around for over forty years, and it has over one trillion in client assets. The brand name is trustworthy and reputable, and TD Ameritrade offers a wide range of assets, educational tools, and platforms from which investors of all levels can choose.

To see how TD Ameritrade ranks against other industry-leading trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.