TD Ameritrade Review

By | January 22, 2021

Are you looking for a reliable trade partner? Are you confused between lots of brokers available online? Is it, then you’re on the right platform to get your answers. In this TD Ameritrade review, we’ve detailed the in-depth knowledge of the platform and its workings. 

What is TD Ameritrade ?

TD Ameritrade is one of the largest and the most successful US broker. Operating since 1975. It offers various types of trading facilities to its traders. TD Ameritrade reaches its customers through social media platforms like; facebook, twitter and more. It offers a variety of platforms to customers for performing their trade operation. It is a beginner friendly stock trading platform. 

Ameritrade Review

Assets offered :

TD Ameritrade offers a wide range of trading assets. It does not allow you to trade in crypto currencies. Beyond this, you can trade in :

  • Stocks
  • ETFs
  • OTCBB
  • Mutual Funds
  • Bonds 
  • Options
  • Futures
  • 75 pairs of Forex
  • Social trading 
  • Robo Advisory 

TD Ameritrade Fees :

It charges no commission on online trade and ETFs.

Assets Fee Terms
US Stock Free Stock and ETF trading
EURUSDThe fees are built into the spread, 1.2 pips is the
average spread cost during peak trading hours.
Mutual Fund $49.99 per transaction, although there are also ca. 4,000
free funds
Inactivity FeesNo inactivity fees
  • OTCBB trades incur a commission of $6.95/transaction.
  • TD Ameritrade charges 9.5% annual margin rates for stocks. 
  • Mutual fund commission for funds outside the No Transaction Fee program is $49.99. 
  • TD Ameritrade charges low forex fees.
  • Future transaction fees are $2.25 per contract per side plus exchange fees.
  • It doesn’t charge any inactivity fee.
Ameritrade goals

Account opening

Account opening at TD Ameritrade is simple and fully digital. It offers different account types to its users. No min deposit is required for US citizens. 

TD Ameritrade mainly targets US customers. However, it is also available in a few countries like; China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand. The min deposit for countries other than the US may be higher. For ex. $3500 for Malayasian and Singapore clients.

Types of account offered : 

  • Individual
  • Joint Account 
  • Business Account 
  • Retirement Account 
  • Pension Account 
  • College Savings 
  • Custodial or Guardianship Account 
  • TD Ameritrade portfolio 

Deposit and withdrawal :

It doesn’t charge any deposition fee. When it comes to US clients they can use ACH,cheque and wire transfer for depositing money. While clients from Hong Kong, Malaysia, Thailand, China, Taiwan and Singapore can use only wire transfer and checks. 

Sadly, it does not support credit/debit card and e-wallet transfer.

It does not charge any withdrawal fees, The only exception lies in the case of wire transfer, where it charges upto $25 for transfer.

TD Ameritrade Trading Platform :

TD Ameritrade offers three types of trading platform : Desktop trading, Mobile Trading and Web-trading. The web trading platform is suitable for trading execution and research on products, like stocks and ETFs.

In contrast, if you’re interested in trading forex and futures and more complex assets. Then an in house trading platform named thinkorswim is best suited for you. It offers a wide range of technical research tools. 

The web-trading platform is available in English and Chinese.

Education :

TD Ameritrade offers education materials in many format this includes :

  • Demo Account 
  • Platform tutorial video 
  • Articles
  • Webinars
  • Talking green podcast 
  • In-person events
TD Ameritrade education
ProsCons
Low trading fees Can trade only in US market
 Superb desktop trading platform No credit/debit cards and electronic
wallets for money transfer
Many account types High fund fees
User friendlyNo negative balance protection
Good variety of order types  High withdrawal fee for wire transfers

Is TD Ameritrade Safe ?

It is regulated by top financial authorities like SEC, FINRA and CFTC. As it was established in 1975, it has covered a long journey which makes it more trustworthy. Its long track record makes it a safe broker. The company is even listed in US stock exchanges, having financial background and regulated by top tier institutes. 

The Verdict :

TD Ameritrade has a big name in the US. It is listed in NASDAQ, along with it is regulated and disclose its financial statement frequently and transparently. Its other platform thinkorswim also has a good consumer base. Customer service is great.

The drawback it has is that it charges high margin rates and doesn’t support credit/debit cards for money transfer. Furthermore, it is good for US customers and provides portfolio services to them only. 

As it offers a demo account and good educational tools, we suggest you to try it. 

Customer Support :

  • Live chat 
  • 24/7 Phone line 
  • Chatbots deployed on Twitter, Facebook Messenger, Apple Business Chat, and WeChat.
TD Ameritrade contact number

TD Ameritrade Review

9.3

Products

9.5/10

Fees

9.0/10

Account Types

9.5/10

Safety

9.0/10

Pros

  • Low trading fees
  • User friendly
  • Many account types

Cons

  • Can trade only in US market
  • High fund fees
  • No negative balance protection

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