TD Ameritrade Broker Review 2022
The broker “TD Ameritrade” is a trading platform that meets the needs of both beginners and active investors. It offers quality platforms and $0 commissions for online trading in stocks and ETFs. There is also a wide choice of mutual funds.
Advantages and disadvantages
- Commission-free ETF and stock trading
- No cost research.
- High quality trading platforms.
- There is no minimum account.
- Good customer support.
- Large choice of investments
- There are no broken
TD Ameritrade is the shining star
Free Research: TD Ameritrade provides a variety of third-party research, all from highly reputable sources such as the Federal Reserve Economic Database and the Center for Financial Research and Analysis.
High quality trading platforms
TDMeritrade’s customer service is unbeatable. It offers 24/7 support via email, phone, fax, chat, or social media. Meetings are also held in more than 250 branches.
Large selection of investment options: TD Ameritrade offers a wide range of products, from low-cost mutual funds to more advanced products such as futures trading and currency trading.
TD Ameritrade isn’t quite right
Split Stocks: Split stocks used to be a niche product, but major players such as Fidelity or Schwab now offer split trading. TD Ameritrade does not offer split trading, but investors who have limited capital may be able to find other options. Fractional shares let you invest in dollars, not stocks. This allows you to build a portfolio that includes stocks that would otherwise be too expensive.
TD Ameritrade Rating
Minimum 5 stars
TD Ameritrade does not have a minimum account.
Stock trading fees: 5 out of 5 stars
TD Ameritrade does not charge a commission for stock trades. You will be charged $6.95 if you trade OTC securities, which are not listed on major exchanges such as the NYSE.
Account maintenance fees: 4.5 out of 5 stars
The only fees TD Ameritrade is worth mentioning are the full account transfer fees. If you want to transfer all your assets to another brokerage, you will have to pay a fee of $75. That’s a high price for this guy. The broker does not charge partial transfers or annual inactivity fees.
Out of 5 stars, 4 mutual funds have no transaction fees
Although the number of mutual funds available from brokers with no transaction fees is not as large, there are still plenty of options.
TD Ameritrade excels in offering low cost funds with minimal minimum investment requirements. It has over 500 mutual funds with expense ratios below 0.50% and over 1,000 with minimum investments under $100. This broker is ideal for novice mutual fund investors.
5 out of 5 stars for marketable securities
TD Ameritrade is a leader in the investment selection category, offering a full range of investments for approved clients, including forex and bitcoin futures trading.
Crypto availability: 2 out of 5 stars
TD Ameritrade does not offer direct access to cryptocurrencies. However, TD Ameritrade offers crypto-based products such as Grayscale Bitcoin Trust in the OTC market. Qualified TD Ameritrade clients can trade Bitcoin futures on the Chicago Mercantile Exchange.
5 out of 5 stars for the trading platform
TD Ameritrade has two main trading platforms. Each platform comes with a mobile version.
TDAmeritrade.com, the free on-ramp platform, offers almost everything an average investor needs. It allows them to screen, filter, identify and trade stocks, bonds and funds. The following are included in the free platform:
- A customizable landing page.
- Broker’s GainsKeeper tool to track capital gains or losses during tax season.
The company also offers a desktop trading platform, thinkorswim, which targets serious traders in forex, stocks, ETFs and futures. It includes all the features active traders need, such as customizable filters, charts, backtesting capabilities, and real-time insights, quotes, and market heatmaps.
Can’t access your computer in time or haven’t installed the broker’s mobile app? Any Red or Emergency Redemption can be done through third-party platforms using Twitter Direct Messages and Facebook Messenger. TD Ameritrade added voice-enabled investments with Google Assistant and on-board smartphone experience experiences. This allows investors to keep up to date with market movements while driving.
A virtual trading simulator is also offered by the company. It is surprising that few online brokers offer fake trading accounts. The TD Ameritrade paperMoney virtual simulation is a desktop platform that targets advanced and frequent traders. You can access a margin account and practice $100,000 cash. The broker offers it for free on its two platforms and via its Mobile Trader application. However, non-customers can sign up for a 60-day free trial. It’s a great way to try out a new platform before committing to opening a real money account.
Mobile app 4 out of 5 stars
The broker can also choose from a variety of platforms for their mobile products. TD Ameritrade Mobile is a companion application to the desktop platform. The TD Ameritrade Thinkorswim app, aimed at advanced traders, is a companion app for the desktop platform. TD Ameritrade Mobile Web is a mobile-optimized browser-based platform.
TD Ameritrade Mobile offers much of the same trading functionality as the web platform, but also provides Level II quotes that are not available on the web platform. Investors can receive notifications of any changes to their holdings through the app, which includes educational videos, personalized watchlists, and alert options.
Thinkorswim offers futures and forex trading, complex options ordering capabilities (three to four legs), and chat support from the TD trading desk.
Data and research: 5 out of 5 stars
TD Ameritrade’s research selection is unmatched by other brokerages. It offers research, analysis and commentary from 15 sources, including FRED and CFRA. Vickers, Morningstar, Vickers and Reuters.
Customer support options: 4.5 out of 5 stars.
TD Ameritrade’s customer service is second to none. There are over 250 branches across the country that offer support via text, social media or phone.
You should also know other details about TD Ameritrade
Charles Schwab acquired TD Ameritrade in October 2020. However, the integration is expected to take place over the next 18-36 months.
Are you a good candidate for TD Ameritrade?
TD Ameritrade, a broker that does everything right and covers all the bases, is rare. Clients benefit from a full range of services from portfolio construction advice to hands-on investment courses, high-quality research and trading tools, and a selection of commission-free mutual funds. .
Read another review on CMC Markets.
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