Introduction

TD Ameritrade is one of the largest online brokers in the United States. It does not charge any commission on trades in stocks and ETFs and offers a wide range of trading instruments, including FX, futures, commodities, and crypto. 

Only the fact that TD Ameritrade is registered in the USA (where it is challenging to obtain documents for such companies) and has been operating for more than 40 years is convincing evidence of the broker’s reliability and decency. 

However, the broker has some drawbacks. It does not accept credit/debit cards and e-wallets for money transfers mainly targets US customers, and stocks and ETFs only cover the domestic market.

How to start trading with a TD Ameritrade broker?

How to start trading with a TD Ameritrade broker?

Each client can create a personal account on the platform. The procedure does not take much time. The main thing is to follow a specific sequence.

Step 1. Fill in basic information about yourself & choose the citizen status.

Step 2. When choosing an account type, choose an Individual, because some types are not available for foreigners. 

Step 3. Provide a lot of personal information and make double-check the entered data. 

Step 4. You will need to agree to the rules of the broker Ameritrade.

Step 5. Enter the information about your profile (login, password, pin code). 

Step 6. Start trading.

Customer support at the TD Ameritrade broker

Customer support at the TD Ameritrade broker

TD Ameritrade has a 24/7 phone line, chatbots operating on Twitter, Facebook Messenger, Apple Business Chat, and WeChat for Asian clients. The TD Ameritrade mobile trader app offers live chat support.

Year of foundation 

According to the information provided, the broker began serving clients in 1975.

Location

According to the information provided, the company’s main office is located in the USA, in Omaha.

Regulation

Broker TD Ameritrade received permission to conduct business in the United States. The company is regulated by the Financial Services Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Broker’s awards

Awards are a natural indicator of recognition for excellence for forex brokerage companies. These awards are presented by many respected companies and publications and go a long way to the broker’s reputation.

TD Ameritrade is the best in its class and has the following awards:

  • Best for beginners
  • Best stock trading app
  • Best online broker
  • Best for ETFs
  • Best for options trading
  • Best for individual retirement fund
  • Best for day trading
  • Best platform for web trading

Key broker features 

Trading tools

  • Virtual trading
  • Customizable interfaces 
  • Charting tools

Analytical tools

  • Market watch information tools
  • Technical analysis tools
  • Indicators & signals

Fees

TD Ameritrade waives several fees for clients but imposes charges and commissions on several trading and investment services. The broker mitigates the minimum deposit to $0 to a prospect of clients and skyrockets the value to $2,000 for clients looking for margin or options privileges.

Non-trading fees

  • Other fees include $0.65 on potions applicable to US exchange stocks per contract. 
  • Clients also pay for interactive voice response trading and a broker-assisted fee of $25.00.
  • The broker also imposes a $2.25 fee on futures and options per contract. 
  • Other fees range from certificate of withdrawal fees, checkbook, stop payment, among others. 

Market coverage

TD Ameritrade offers a spectrum of trading and investment products to clients. The broker’s instruments include assets such as stocks, options, ETFs, mutual funds.

Stocks

TD Ameritrade - Stocks

The broker offers effective stock trading and investing 24/5 with real-time customer support. The instruments trade with $0 commissions and include domestic and international stocks offered via ADRs or IPOs. The broker also waives all fees on platforms and mitigates subscriptions for clients. 

Other stock trading and investing features include:

  • Intelligent order routing
  • Powerful stock trading platforms
  • Free independent research
  • Stock trading tools and research

Options

TD Ameritrade - Options

Traders hedge positions to yield good income. Options help traders double their income at times of high market volatility. TD Ameritrade provides a suitable environment for options trading using innovative platforms, educational resources, straight forward pricing, among other tools. The options market trades with no hidden fees and 24/7 customer support.

ETFs 

TD Ameritrade - ETFs 

TD Ameritrade offers both new and seasoned investors commission-free ETF trading from the most trusted brands in the ETFs niche. It blends these instruments with more innovative helpful tools to deliver the best ETFs trading and investment experience. Some of the tools and features that aid ETFs trading include:

  • Helpful tools
  • Comprehensive education
  • Objective research
  • 24/5 trading hours
  • No hidden fees

Mutual funds

TD Ameritrade - Mutual funds

The broker allows clients access to more than 13,000 funds that trade 24/5 with a range of investment objectives and 0 transaction costs. 

Other features include:

  • Morningstar research services power the premier list
  • A complete mutual funds toolbox
  • Fully customizable
  • Well diversified

Futures

TD Ameritrade - Futures

TD Ameritrade futures market trades 24/6 with about 70 future products for clients to trade. The broker also offers micro futures on assets. This allows clients to diversify their portfolios and hedge against the rising prices of these assets.

Other trading features include:

  • No hidden fees
  • Extensive product access
  • Innovative platforms
  • Superior service

Forex

TD Ameritrade - Forex

The broker allows clients to trade 70 currency pairs. Clients experience effective trading fueled by world-class technology, innovative tools, and knowledgeable customer service.

Other features that give traction to a good forex trading environment include: 

  • No hidden fees
  • Access to the thinkorswim trading platform
  • Mobile trading

Trading platforms

TD Ameritrade - Trading platforms 

The choice of the platform will depend on what the market participant would like to trade, so this will also be one of the criteria when choosing a broker. TD Ameritrade offers both web and desktop trading platforms. 

The web platform is suitable for trading and researching investment products such as stocks and ETFs. Thinkorswim, TD Ameritrade’s proprietary platform, is ideal for trading complex products. 

Classic web platform

TD Ameritrade - Classic web platform
YesNo
Trades all assets except futures and FXChat support 
Market alertsApple business chat
Customizable workspaceMobile check deposit 
ScreenersVisual positioning
Tax documentsVirtual trading
Transaction history
External and internal cash transfers
Network and CNBC streaming
Level II quotes

Next-Generation web platform

Next-Generation web platform
YesNo
Trades all assets except futures, forex, and bondsApple business chat
Market alertsVisual positioning
Customizable workspaceVirtual trading
Screeners
Chat support
Tax documents
Transaction history
External and internal cash transfers
Mobile check deposit
Level II quotes
Network and CNBC streaming 

TD Ameritrade mobile

TD Ameritrade mobile
YesNo
Trades all assets except futures, forex, mutual funds, and bondsScreeners
Market alertsConditional orders
Customizable workspace Virtual trading
Chat support
Apple business chat
Tax documents
Transaction history
External and internal cash transfers
Mobile check deposit
Level II quotes
Network and CNBC streaming

Thinkorswim platform

TD Ameritrade - Thinkorswim platform
YesNo
Trades all assets Market alerts
Apple business chat  is available for the mobile versionCustomizable workspace
Transaction historyScreeners
External and internal cash transfers  are available for the mobile versionChat support
Level II quotesTax documents
Network and CNBC streaming Mobile check deposit
Virtual trading

Trading accounts

The broker offers clients the following types of accounts for executing trade transactions:

  • Standard account
TD Ameritrade - Trading accounts

According to the conditions, this type of account can be used by individuals. The minimum deposit is $50. If the user plans to trade with margin, it is necessary to replenish the account for $2,000.

  • Retirement account
TD Ameritrade - Retirement account

According to the conditions, the account can be used by people of retirement age who plan to dispose of their savings.

  • Education account
TD Ameritrade - Education account

This type of account is intended for students who plan to pay for their university or college education.

  • Specialty
TD Ameritrade - Specialty account

The account type is provided for legal entities that want to use investments in various financial assets.

  • Managed Portfolios
TD Ameritrade - Managed Portfolios

This type of account includes three types of portfolios with different sizes of minimum deposits: $500, $25,000, and $250,000.

  • Margin Trading account
TD Ameritrade - Margin Trading account

Clients deposit $2,000 to trade on margin.

What else should you know about the TD Ameritrade?

Potential traders should be aware of the risks accompanying financial markets’ trading. Keep in mind that its primary audience is US residents. In addition, it is essential to remember that the broker has high commissions when making trade transactions. It is recommended that you consult with a financial expert before starting work with a broker. A highly qualified specialist will allow you to pay attention to essential nuances.

TD Ameritrade review summary

TD Ameritrade is a broker offering almost all types of securities for trading and a wide range of instruments in the form of platforms and research services. For most traders and investors, Ameritrade is perfect.

However, if you are an intraday, algorithmic, or swing trader, some brokers are much better for you. These are not areas where the broker excels at the competition.

TD Ameritrade rating

4.8/5