TD Ameritrade Review

(8,848 user reviews)
3.9/5
Simon Lewis

Simon Lewis

Simon is a recognized world expert in investing. He has tested dozens of investment clubs, communities and investment research services. His research has been featured on Bloomberg, Business Insider, The New York Times, Wall Street Journal, CNet and more.

Ranked #1 out of 5

TD Ameritrade - Best platform overall & for beginners

TD Ameritrade is an established US brokerage firm active since 1975. The leading-edge platform has extensive educational offerings for beginners and professionals traders, in which it is possible to poke around without making a deposit . TD Ameritrade does not require a minimum investment or trade portfolio to start benefiting from the services.

The brokerage firm suits all financial goals from passive investing - covering ETFs, index funds, and mutual funds - to day trading - including forex, cryptocurrencies, commodities and futures.

TD Ameritrade Pros & Cons

Pros

Cons

Commissions & Fees

TD Ameritrade charges no commission on stock trades or ETFs. Charges for options trades cost just $0.65 per contract. On the other hand, over-the-counter (penny stock) trades are subjected to a $6.95 flat-rate fee.

Stock Trade
ETF Trade
Options Base
Options Per Contract
Futures Per Contract
OTC Trade
CFD's Trades
Mutual Fund Trade
Forex Trade
Crypto Trade
Inactive Account
Withdrawal
$0.00
$0.00
$0.00
$0.65
$2.25 + exchange & regulatory fees
$6.95
N/A
$49.99
Variable spread
N/A
$0.00
$0.00
Feature
Fee
Stock Trade
$0.00
ETF Trade
$0.00
Options Base
$0.00
Options Per Contract
$0.65
Futures Per Contract
$2.25 + exchange & regulatory fees
OTC Trade
$6.95
CFDs Trades
-
Mutual Fund Trade
$49.99
Forex Trade
-
Crypto Trade
-
Inactive Account
-
Withdrawal
-

Educational Content

TD Ameritrade is also a school for beginners. The platform offers multiple learning materials, including live video, webinars, podcast, quizzes, articles and courses, all organized by skill level. Customers have access from introductory - like personal finance and investing - to advanced material. Clients can even subscribe to a print magazine, thinkMoney.

Artificial intelligence gives users personalized experience and suggests what to do next. The “Ask Ted” chatbox provides directions, tutorials, and guides for a better and easier trading experience.

New investors can opt to gain confidence by using TD Ameritrade’s paperMoney virtual simulator. The platform provides a trial experience with $100,000 in fake money. Customers can use it for free on the Mobile and Desktop version. It’s an important tool for beginners to practice trading before using real money on the platform.

Desktop & Mobile Platforms

The brokerage firm offers four high-end trading platforms: its website (TDAmeritrade.com), two mobile apps and thinkorswim, designed for active investors and traders

TDAmeritrade.com provides investors with everything they need: research, charts, screen and trade stocks, funds, bonds, CDs and options. The website is intuitive and simple to use, also counting with the support of a robo-advisory. Moreover it counts with GainsKeeper tool, that tracks capital gains and losses for tax season.

The thinkorswim trading platform is a powerful analysis tool and real-time streaming data for stocks, ETF, options, futures and forex traders. It’s intuitive and easy-to-use whether on desktop, or on mobile. The platform has all the advanced features, data, charting and tools active traders need to find market opportunities, such as technical analysis tools and studies, advanced trading capabilities, customizable screen and charting, real-time news and more.

If you want to test thinkorswim platform, you can download the ‘paperMoney’ simulator.

TD Ameritrade offers two mobile trade experiences. The regular app (TD Ameritrade Mobile) has almost the same features as the website and is designed for casual investors. On the other hand, Thinkorswim Mobile has advanced features, just as the desktop version.

TD Ameritrade Mobile is a well-designed app that gives a market overview and access to your account in just a few clicks. The app includes custom watchlists, educational content, price alerts, news and charting. Meanwhile, Thinkorswim Mobile has extensive tools for active traders, including charts with 400+ indicators from the desktop platform, streaming real-time data, and TD’s trading desk.

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