TD Ameritrade Review

Website : TD Ameritrade
Established : 1975
Country :
U.S. Clients Allowed :

If there’s one thing TD Ameritrade does well, it is the huge financial freedom they provide to clients. This is made possible through the numerous services in their arsenal. This has been the case for decades and the brokerage company has no stop improvements in that regard. They spearheaded the introduction of several trading technologies such as the touch-tone trading in 1988, online trading in 1994. While TD Ameritrade is located in Omaha, Nebraska, this has not prevented traders all over the world from accessing their trading platforms. Currently, millions of disciplined traders depend on their resources to carry out the needed analysis and trading activities without any hindrance.

Pros

  • Pro-level comes at zero cost

The use of the pro-level platform doesn’t come with any financial obligations and customers are not mandated to own an account nor are there any limiting conditions

  • Amazing platform functionality

Premium charts, order-entry, and links to social media trends; all of which are intertwined with TD Ameritrade’s innovative software – thinkorswim

  • Variety of Trading Instruments

Forex, securities, futures, insurance policies, exchange-traded funds, stocks, and several other opportunities worth tracking

  • Zero-Comission trades

Mutual funds with multiple transactions require no fees. Exchange-traded funds are also included.

  • Excellent Customer Service

Hack-proof messaging channels, round the clock phone lines, chatting options via social media platforms like Facebook, and physical interactions are possible through their numerous branches located throughout the country.

CONS

  • Does not have 2factor authentification and other modern security measures.
  • Broker-assisted trades are expensive while TD Ameritrade fees have huge financial implications in the long-run
  • High margin rates

TD Ameritrade Products and Fees

View All FeesTD AmeritradeE*TRADECharles SchwabFidelityMerrill Edge
Stock Trade Fee (flat)$6.95$6.95$4.95$4.95$6.95
Options Base Fee$6.95$6.95$4.95$4.95$6.95
Options Per Contract Fee$0.75$0.75$0.65$0.65$0.75
Mutual Fund Trade Fee$49.99$19.99$76.00$49.95$19.95
Broker Assisted Trades Fee$44.99$25.00$25.00$32.95$29.95
Commission Free ETFs296225244910

Every investment product available in the world today including futures, mutual funds, Exchange-traded funds, and foreign exchange can be traded via TD Ameritrade. Retirement accounts and investments with annual returns are also included.

Huge volume traders will benefit immensely from the fair commission structure – commissions remain unchanged regardless of the amount of shares you put into trade. At the same time this might still be a disadvantage for active traders who would have benefited from additional discounts put in place for those who trade frequently. However, exchange-traded funds attract zero commissions for a number of trades while mutual funds come with no service charge but only for a limited number of trades.

Trust

Availability of wide range of investment products, trading techniques, and platforms puts TD Ameritrade among world’s most highly recognized online stock brokerages. The brokerage firm has a remarkable reputation with more than 40 years of flawless service history. The Federal Deposit Insurance Corporation (FDIC) ensures every customer account maintained at TD Ameritrade is secure. Their activities are supervised by the Financial Industry Regulatory Authority (FINRA).

TD Ameritrade Platform

TDAmeritrade has made it clear the company is committed to provide services to all groups of investors and has further diversified services by helping those who want guidance when it comes to making investment decisions. TDAmeritrade trading platform is highly customizable and suitable for beginners and professionals alike. TDAmeritrade has further boosted its platform capabilities with the acquisition of ThinkorSwim Group INC, which was one of the fastest growing online brokerages at that time. Thinkorswim’s downloadable desktop applications is geared to satisfy most advanced trader’s demands and has proved to be one of the greatest platforms offered by modern online brokerages, especially when it comes to charting software and market analysis.

Active traders can benefit from a mix of the attributes of TD Ameritrade’s website and thinkorswim through the dynamic online platform, Trade Architect. Their mobile applications afford hard-pressed traders the opportunity to enjoy the numerous features of the desktop versions in the absence of a computer.

More platform facts

Few pro level platforms are equipped with the functional capabilities delivered by thinkorswim. This software doesn’t just possess a majestic interface but provides instinctive trading services. Thinkorswim is one of the most advanced platforms offering a variety of technical tools and studies and can be further complemented with custom indicators which those skilled in programming can create using company’s proprietary programming runtime environment. TD Ameritrade provides users with in-depth insight on social media trends especially from the micro-messaging site – Twitter. The brokerage has delineated apps for frequent trading and irregular traders.

Desktop Interface

The TD Ameritrade’s website has all the necessary properties which should keep the most active trader occupied. Users can monitor social media channels, use personalized notifications and take advantage of tons of information to boost the trading experience and provide additional insight to active traders. A nice feature that can be accessed from any page is the “My Dock” dashboard. (the button to access it is located on top of the page ). The dashboard can be customized to display various essential information organized in 4 columns. The dashboard can be adjusted by dragging the modules and placing them in the columns of your choice. In addition to the Web platform, customers can access Trade Architect (a web-based platform), thinkorswim (their flagship, pro-level platform) and two mobile apps, which all automatically sync with one another to provide a seamless research/trading experience

Mobile Interface

One of the advantages of using TD Ameritrade is the multiple mobile applications available. The TD Ameritrade Mobile caters for irregular traders and beginners while the TD Ameritrade Mobile Trader app is suited to active traders with decent trading experience. Both apps can be used for trading and analysis and also give traders access to constantly updating feed of relevant market analysis obtained from reputable industry leaders such as Credit Suisse, the Street and CFRA. Both apps have no shortage of tools to satisfy the needs of most demanding traders but Mobile Trader has more tools in abundance – 300+ studies and live streaming news from world’s most trustworthy sources to name a few. In addition, the platform comes with full-functional simulated trading environment where traders can try out new strategies, tools and indicators before giving it a go with real funds.

Customer Service

TD Ameritrade caters to the needs of customers by employing highly-educated individuals in the field of taxation, law and investment. You can communicate with TD Ameritrade’s professional by phone, Facebook Messenger App or via in-person support in 100+ branches located across the US. So, regardless of your connection with the brokerage firm, they are accessible through any of these means. Having a disability doesn’t prevent you from doing business with TD Ameritrade since they provide other communicating channels like the use of interpreters, sign language experts, and a host of others.

Market Analysis

Analysts and investors alike can make the most use of innovative tools provided by TD Ameritrade to identify potential opportunities on the market. With the search box visible alongside the Ask Ted link, you can get a synopsis of a particular stock, check out news, social media trends, expert report, financial statements, performance indicators, charts, and formal documents to be submitted to the Securities and Exchange Commission. As mentioned above, the ThinkorSwim platform has 400+ studies and technical indicators and can further personalized to any trading style.

TDAmeritrade Education Centre

The Education Centre of TD Ameritrade consists of all the required valuable materials for a trade and these are readily accessible without any confusing website navigation. For TD Ameritrade to have amassed this amount of information in one place says a lot about how organized they are. Expectations are that brokerages will take the cue and follow the same path. But currently, only TD Ameritrade saw this as a worthwhile addition and it’s certainly commendable. Picking the needed content can be approached on a step-by-step basis depending on your current insight level or you can browse by topics, visual or audio aids.

Banking

Your money is always within your reach through the numerous deposit and withdrawal methods available. You can decide how you want your money utilized and there’s a debit card to improve ease of spending at no extra cost. If any deductions are made, refunds are made as soon as they are noticed.

Their subsidiary TD Bank goes beyond that with the provision of every banking product available such as account opening & management, different types of loans, credit & debit cards, and checking services. If you own a bank account in another bank, you can connect your TD Ameritrade account with such. If the account is domiciled with TD Bank, it can also be synced with your trading account.

Conclusions

This TD Ameritrade review clearly shows the brokerage firm has it all from a wide coverage on investment products and considerable research modules to a responsive user interface and an all-inclusive informational storehouse.

Traders and investors seeking for a dynamic platform which is always evolving with the trends couldn’t have asked for something better. Beginners can hone their skills and progress with the different levels available on the platform. With advanced features like Trade Architect and Thinkorswim, traders can keep up with rigorous demands of professional online trading. One of the more significant benefits of this platform is availability of large volumes of useful information. The main drawback of this platform is the substantial TD Ameritrade account fees which active traders might not find favorable. Another issue is the platform isn’t well protected especially with the rising trends of malware online. Having the highly effective two-factor authentication might help improve the security of this platform. However, if there’s any loss of assets due to the company’s carelessness or bankruptcy, the FDIC, FINRA, and SIPC will make the necessary refunds since TD Ameritrade is insured by these regulators. Finally, this brokerage firm certainly delivers the goods, but this comes at a high price.

Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.