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Online trading platform and mobile app Investors rate the broker's mobile app highly. Diverse account types TD Ameritrade is a one-stop-shop for your investing and cash management needs.
Research and screeners TD Ameritrade offers a laundry list of stock, option, and mutual fund screeners that you can use for free. Mutual fund selection TD Ameritrade offers one of the largest selections of mutual funds and commission-free ETFs of any discount broker on the market today. Customer support With branch offices in most major metropolitan areas, TD Ameritrade may win over clients who want the comfort of knowing that face-to-face customer support is just a short drive away.
What could be improved. Margin rates TD Ameritrade's margin rates can be easily beat by several trading platforms. Alternatives to consider. Read Robinhood Review. Read Interactive Brokers Review. Buying mutual funds and ETFs. Total mutual funds 11, No-load, no-transaction-fee funds NTF 1, Fees you should know about.
ATM fee rebate: Many investors like having a debit card linked to their brokerage account, but don't like the costs associated with it. Reimbursements are unlimited, so whether you use your card daily or once a decade, you won't pay an ATM fee. Paper statement fee: Brokers don't like sending documents by snail mail. Opt-in to receive statements electronically, and you can forget this fee even exists in the first place.
Fees for paper statements have become an industry-wide phenomenon in one form or another. Brokerage Fees. Get in touch Call or visit a branch. Go City, State, Zip. Brokerage fees Enjoy low brokerage fees Combined with free third-party research and platform access - we give you more value more ways Don't drain your account with unnecessary or hidden fees. Open new account. Service Fees 1. Certificate Withdrawal 2. Paper monthly statements by U. Paper quarterly statements by U.
Paper trade confirmations by U. Replacement paper statement by U. Replacement paper trade confirmations by U. Outbound full account transfer. Outbound partial account transfer. Wires outgoing domestic or international. Exception Fees. Alternative Investments transaction fee.
Mutual fund short-term redemption. Commission-free ETF short-term trading fee. Restricted security processing. Removal of Non Marketable Security. The fee normally averages from one to three cents per share, however the amount and timing of these fees can differ by ADR and are outlined in the ADR prospectus. Certain countries charge additional pass-through fees see below.
TD Ameritrade aces the investment selection category by offering the full range of investments, including futures, forex and bitcoin futures trading for approved clients. TD Ameritrade doesn't offer direct access to cryptocurrencies; however, crypto-based products, such as Grayscale Bitcoin Trust, are available through TD Ameritrade on the over-the-counter market.
TD Ameritrade offers two main trading platforms, each with a corresponding mobile version. Baked into the free platform are:. The broker's GainsKeeper tool, to track capital gains and losses for tax season. Separately, the company has a desktop trading platform called thinkorswim that's aimed at serious stock, ETF, options, futures and forex traders. It has all the features active traders need, including advanced trading capabilities, a robust lineup of technical analysis tools and studies, customizable screeners and charting, backtesting capabilities, real-time news, quotes, market heat maps and more.
Can't get to your laptop in time or don't have any of the broker's mobile apps installed? You can also place any code-red, emergency trades through third-party platforms via Twitter Direct Messages, Facebook Messenger and Apple Business Chat. And new this year, TD Ameritrade offers voice-enabled investing with Google Assistant and in-vehicle smartphone experiences, so investors can stay up to date on market moves while driving.
The company also offers a virtual trading simulator. Surprisingly, few online brokers offer mock trading accounts on their platforms, so this is fairly unique. TD Ameritrade's paperMoney virtual simulator is a desktop-based platform geared toward advanced and frequent traders. It's available for free through the broker's two platforms and its Mobile Trader app, although non-customers can register for a free day trial — a good way to test a new platform before committing to setting up a real-money account.
The choice of platforms extends to the broker's mobile products. The TD Ameritrade thinkorswim app is aimed at the advanced trading crowd and is a companion app to the desktop platform of the same name. The company also has TD Ameritrade Mobile Web, the browser-based platform optimized for mobile devices. TD Ameritrade Mobile has much of the trading functionality of the web-based platform and also provides Level II quotes not available on the web platform.
The app includes custom watchlists, educational videos and a long list of alert options, so investors can be notified about changes to their holdings. The thinkorswim app includes futures and forex trading, complex option ordering capabilities three or four legs and chat support from TD's trading desk.
TD Ameritrade is a rare broker that covers all of the bases and does it very well. For a broker with no commission on stock, ETF and options trades, clients get an impressive list of services including portfolio-building guidance, hands-on investing courses, high-quality research, trading tools and a wide selection of no-transaction-fee mutual funds. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs.
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Disclosure: The author held no positions in the aforementioned securities at the original time of publication.
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