TD Ameritrade Review

TD Ameritrade

TD Ameritrade

  • Leverage: Margin Trading

  • Regulation: SEC, FINRA, SIPC, MAS

  • Min. Deposit: $0

  • HQ: USA

  • Platforms: Thinkorswim Web, Desktop, and Mobile

  • Found in: 1971

TD Ameritrade Licenses:

  • TD Ameritrade, Inc. - authorized by SEC & FINRA (USA) registration no CRD # 7870/SEC#:801-60469,8-23395
  • TD Ameritrade, Inc. - member of SIPC (USA)
  • TD Ameritrade Singapore Pte. Ltd. - authorized by MAS (Singapore) registration no 200902152D

Top 3 Forex Brokers

  1. What is TD Ameritrade?
  2. TD Ameritrade Pros and Cons
  3. Is TD Ameritrade Safe or a Scam?
  4. Margin Trading
  5. Accounts
  6. Products
  7. Fees
  8. Commission
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Stock and Forex Trading check all trading conditions, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see proposals fully to give expert opinions about TD Ameritrade.

What is TD Ameritrade?

TD Ameritrade is a Stock trading and Investing company that offers investors and traders to buy and sell a variety of trading products, including stocks, options, Forex, mutual funds, ETFs, fixed-income securities, and more.

Based on our research, the firm primarily serves clients in the United States and adheres to strict regulatory oversight from the US SEC, FINRA, and SIPC to ensure compliance with securities laws and provide transparent information. Additionally, TD Ameritrade has expanded its presence to Singapore, where it operates under the regulatory framework of the Monetary Authority of Singapore (MAS).

In general, the company is renowned for its dedication to placing the needs of traders and investors at the forefront, highlighting a competitive trading environment, and a focus on long-term investment strategies.

Is TD Ameritrade Stock Broker?

Yes, TD Ameritrade is a Stock trading broker specializing in online brokerage services. The company provides a platform for individuals to trade a variety of financial instruments, including stocks, options, mutual funds, and ETFs.

Renowned for its commitment to investor education, user-friendly platforms like Thinkorswim, and a focus on long-term investment strategies, TD Ameritrade offers a comprehensive suite of tools to assist both novice and experienced traders.

TD Ameritrade Pros and Cons

Per our findings, the broker offers a user-friendly platform with a range of educational resources specializing on Stock Trading and Investing. The Broker is among the most popular Brokers and widely regarded companies, which makes it accessible for investors at various levels of experience. The acquisition by Charles Schwab has also added strength to its financial stability. Additionally, the advantage of commission-free trading for online stocks and ETFs is another notable feature.

For the cons, although fees and commissions are competitive, they may not be the lowest in the industry. Additionally, novice users might find the platform more challenging to navigate initially, especially with its advanced trading features.

SEC, FINRA, and SIPC regulation and overseeNot suitable for beginner traders
$0 minimum deposit
Direct Market Access
Commission-free trading for Stocks and ETFs
Trading products
Competitive trading conditions
Good education and research
US and Singapore investors
24/7 customer support

TD Ameritrade Review Official Website

TD Ameritrade Review Summary in 10 Points
🏢 HeadquartersUSA
🗺️ RegulationSEC, FINRA, SIPC, MAS
🖥 PlatformsWeb Platforms, Thinkorswim Web, Desktop, and Mobile
📉 Trading ProductsStocks, Options, ETFs, Mutual Funds, Forex, Futures, Crypto, Bonds, CDs
💰 Stock CommissionFrom $0
🎮 Paper Trading/ Demo AccountAvailable
💳 Minimum Deposit$0
💰 Base CurrenciesUSD, EUR, GBP, SGD
📚 EducationProvided
☎ Customer Support24/7

Overall TD Ameritrade Ranking

According to our analysis, TD Ameritrade is known for its reliable investment services, extensive range of trading products, and commitment to low-cost investing. However, we recommend considering the specific investment needs, preferences, and potential limitations of the platform before making a decision.

  • TD Ameritrade Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry-leading brokers.
RankingTD AmeritradePublicCharles Schwab
Our Ranking ⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesTrading ProductsInvestment ConditionsTrading Commissions

TD Ameritrade Alternative Brokers

While the company offers competitive trading conditions and fees for investors, there are other stock trading firms in the financial market that might be good to consider. These competing brokers may offer advantages such as a broader range of trading products, platforms, etc. So, we have compiled a list of notable competitors for you to explore.


We found that TD Ameritrade has received recognition and awards for its services over the years. Below is a screenshot that includes some of these awards.

TD Ameritrade Review Awards

Is TD Ameritrade Safe or Scam?

No, TD Ameritrade is not a scam. It is a trustworthy Stock broker that follows the strict rules and guidelines established by the SEC, FINRA, and SIPC. These Top-Tier regulations safeguard client assets and provide low-risk TD Ameritrade Stock and Options trading.

Is TD Ameritrade Legit?

Yes, TD Ameritrade is a legitimate and reliable company for traders looking to invest and manage their assets. It is regulated by respected US financial authorities, as well as TD Ameritrade SG, and has a good reputation and integrity in the financial industry.

Additionally, the company does not offer services in offshore zones, emphasizing its commitment to operating within regulated jurisdictions and providing transparency to investors.

See our conclusion on TD Ameritrade Reliability:

  • Our Ranked TD Ameritrade Trust Score is 8.9 out of 10 for the good reputation and services provided, as well as not holding licenses in offshore zones and its regulation by respected authorities.
TD Ameritrade Strong PointsTD Ameritrade Weak Points
Top-Tier licensesNone
Member of SIPC
Multi-factor authentication
Professional investing environment
Client funds security

Who Owns TD Ameritrade?

We found that Charles Schwab has acquired TD Ameritrade, and completed its acquisition in 2020. This resulted in TD Ameritrade’s services, technology, trading platforms, and overall infrastructure becoming part of the Charles Schwab financial services ecosystem.

Client Trading Protection

TD Ameritrade prioritizes the security and protection of its clients’ investments by adhering to regulatory standards and industry best practices. This commitment includes implementing measures to prevent fraud, unauthorized account access, robust online transaction coding, and stringent identity verification processes.

Additionally, as a member of the Securities Investor Protection Corporation (SIPC), TD Ameritrade protects its customers up to $500,000 (including $250,000 for claims for cash), providing an additional layer of security. However, investors should remain cautious, regularly monitor their investments, and practice safe online habits to enhance their trading protection further.

TD Ameritrade Review License

Margin Trading

TD Ameritrade Margin trading allows investors to borrow funds from the broker to leverage their investments, which is known as Margin Trading. The specific leverage amount provided by the broker can vary depending on factors such as the trader’s account equity and the individual stock being traded.

TD Ameritrade Margin Levels are offered according to SEC, FINRA, SIPC, and MAS regulations:

  • US traders may use a maximum of up to 1:50 for major currency pairs.
  • Traders from TD Ameritrade Singapore may use low leverage up to 1:20.

TD Ameritrade Review Margin Trading

TD Ameritrade Account

Based on our findings, the firm offers a range of Cash and Margin accounts to cater to diverse investor needs. Common account options include individual brokerage accounts, where users can trade various financial instruments. Retirement-focused investors can opt for Individual Retirement Accounts (IRAs), such as Traditional IRAs or Roth IRAs. For education savings, the platform provides 529 College Savings Plans.

Additionally, TD Ameritrade offers custodial accounts for minors and trusts. The variety of account types allows investors to align their portfolios with specific financial goals and preferences.

No minimum deposit None
Fast and easy account opening
Variety of Cash and Margin accounts

How to Open TD Ameritrade Live Account?

Opening an account with a broker is considered quite an easy process, as you can log in and register with the broker within minutes. Just follow the opening account or TD Ameritrade login page and proceed with the guided steps:

  • Select and Click on the “Open New Account” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by uploading documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

TD Ameritrade Paper Trading

We found that the broker offers a paper trading feature that allows users to practice trading strategies and gain hands-on experience without using real money. This tool, available on the Thinkorswim platform, provides a risk-free environment for investors to test their ideas, understand market dynamics, and familiarize themselves with the platform’s features.

TD Ameritrade Review Opening an Account

Trading Products

TD Ameritrade offers a comprehensive selection of trading products, providing investors with diverse options to build and manage their portfolios. This selection includes Stocks, Options, ETFs, Mutual Funds, Forex, Futures, Crypto, Bonds, CDs, and more.

This variety of trading products empowers investors to create well-rounded portfolios that align with their financial objectives and risk preferences.

  • TD Ameritrade Markets Range Score is 8.9 out of 10 for a diverse selection of trading products overall which we rank as high also for offering some unique opportunities and investment options.

Can You Buy Fractional Shares on TD Ameritrade?

We found that TD Ameritrade does not currently offer fractional shares trading. However, the financial industry is dynamic, and offerings can change over time. Many brokerage platforms, including some affiliated with TD Ameritrade, have begun to provide fractional share trading as a feature, allowing investors to buy and own a portion of a share rather than the whole share.

To get the most accurate and up-to-date information on the firm’s current features, including fractional share trading, you can check their official website or contact customer support.

TD Ameritrade Review Trading Products

TD Ameritrade Fees

According to our findings, the broker offers a competitive fee structure with a focus on reducing costs for traders and investors. However, while the platform offers commission-free trading for online stocks and ETFs, other services may have associated fees. Options trading and mutual funds may have transaction fees, and certain funds may have early redemption fees.

Additionally, margin trading involves interest charges. Therefore, review TD Ameritrade’s fee schedule thoroughly to understand the costs associated with different transactions and services.

  • TD Ameritrade Fees are ranked low or average with an overall rating of 8.5 out of 10 based on our testing and compared to over 500 other brokers for all fees applied. Some services are free of charge and others may apply some charges. See more comparison details below:
FeesTD Ameritrade FeesPublic FeesCharles Schwab Fees
Deposit feeNoNoNo
Withdrawal feeNoYesNo
Inactivity feeNoYesNo
Investment PlansYesYesYes
Fee rankingLow/AverageLowLow

TD Ameritrade Review Trading Fees

TD Ameritrade Promotions

The firm periodically offers promotions to attract new clients and reward existing ones. These promotions may include commission-free trades, cash bonuses for opening new accounts, or other incentives to encourage trading activity. We recommend that potential investors keep an eye on TD Ameritrade’s official website or contact their customer support to stay updated on the latest promotions.

Trading Commission

Based on our test trade, as a commission broker, TD Ameritrade does not charge spreads on trades. The broker offers commission-free trading for Stocks and ETFs, allowing investors to execute trades without incurring additional fees in these categories.

However, trading commissions and fees can change over time and may vary based on the type of account, the specific investments, and market conditions. Investors should be aware of potential transaction fees associated with options trading and mutual funds, which may vary based on specific circumstances.

  • TD Ameritrade Commission is ranked good with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found fees are rather attractive since built into the commission charge, also transparent and suitable for investment.
Asset/ PairTD Ameritrade CommissionPublic CommissionCharles Schwab Commission
Stocks FeesFrom $0$0From $0
Fractional SharesNoYesYes
Options FeesFrom $0$0From $0
ETFs FeesFrom $0$0From $0
Free StocksYesYesYes

TD Ameritrade Review Commissions

TD Ameritrade Trading Hours

We found that the broker provides access to extended trading hours, allowing investors to trade beyond the regular market hours. Pre-market trading typically starts at 7:00 AM Eastern Time, and after-hours trading extends until 8:00 PM Eastern Time. This extended trading window enables investors to react to news and events that occur outside of the regular market hours, providing more flexibility for those with specific trading strategies.

Deposits and Withdrawals

The broker offers multiple funding methods to facilitate account deposits for investors. Users can fund their accounts through electronic bank transfers (ACH), wire transfers, checks, and transfers from other brokerage accounts. The flexibility in funding methods allows investors to choose the option that best suits their preferences and timeline.

  • TD Ameritrade Funding Methods we ranked good with an overall rating of 8.5 out of 10. Fees are low, and you can also benefit from various account-based currencies.

Here are some good and negative points for TD Ameritrade funding methods found:

Variety of funding methodsNone
Fast digital deposits
Multiple account base currencies

TD Ameritrade Minimum Deposit

The broker offers great options with no minimum deposit requirement for opening a new account, however, a deposit of $2,000 is required to be considered for margin and specific options privileges.

TD Ameritrade minimum deposit vs other brokers

TD Ameritrade Most Other Brokers
Minimum Deposit $0 $500

TD Ameritrade Withdrawals

Per our analysis, withdrawing funds from TD Ameritrade is a straightforward process. Users can initiate withdrawals through the online platform, choosing from options such as electronic bank transfers, wire transfers, or checks, depending on their preferences and requirements.

Withdraw Funds from TD Ameritrade

To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

TD Ameritrade Review Funding Fees

TD Ameritrade Trading Platform

The broker’s trading platform known as Thinkorswim, is highly regarded for its robust features and user-friendly interface. Designed for both novice and experienced traders, it offers advanced charting tools, TD Ameritrade API, technical analysis, and a customizable interface that allows users to tailor the platform to their preferences.

Additionally, the platform’s paper trading feature enables users to practice and refine their strategies without using real money.

  • TD Ameritrade Platform is ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. We mark it as good since it offers an advanced trading platform via web, desktop, and mobile app.
PlatformsTD Ameritrade PlatformsPublic PlatformsCharles Schwab Platforms
Own PlatformsYesNoYes
Mobile AppsYesYesYes

TD Ameritrade App

According to our findings, TD Ameritrade mobile app provides investors with a convenient and intuitive way to manage their portfolios on the go. With a user-friendly interface, the app allows users to trade stocks, options, ETFs, and more, directly from their mobile devices.

Real-time market data, advanced charting tools, and the ability to set up customizable alerts contribute to a comprehensive mobile trading experience. Additionally, the app offers features like mobile check deposits for funding accounts and a secure login process, ensuring that users can access their investment accounts with ease and confidence from anywhere.

TD Ameritrade Review Trading Platform

TD Ameritrade Customer Service

The broker provides 24/7 responsive and supportive customer service. With various channels such as phone, email, and social media, investors can easily reach out for assistance with their inquiries or concerns. The firm emphasizes a client-centric approach, aiming to provide timely and helpful responses to enhance the overall customer experience.

  • Customer Support in TD Ameritrade is ranked good with an overall rating of 8.5 out of 10 based on our testing. The support team is responsive during working days and weekends, ensuring efficient assistance.

See our find and ranking on Customer Service Quality:

Phone, email, social media channelsNo live chat
Quick responses
24/7 customer support

TD Ameritrade Education

In the end, the firm prioritizes investor education by offering a robust suite of educational resources. From webinars and articles to in-depth courses, TD Ameritrade network caters to investors at all experience levels. The goal is to empower users with the knowledge and tools needed to make informed investment decisions.

  • TD Ameritrade Education ranked with an overall rating of 8.9 out of 10 based on our research. We found that the broker offers good-quality learning materials, research, and analysis suitable for investors to enhance their trading strategies knowledge.

TD Ameritrade Review Education

TD Ameritrade Review Conclusion

In conclusion, TD Ameritrade, now integrated into Charles Schwab, stands out as a comprehensive brokerage platform with a user-friendly interface and a commitment to investor education. Its Thinkorswim trading platform offers advanced features, and the availability of paper trading allows users to practice strategies risk-free.

While fees are competitive, potential investors should be mindful of specific transaction costs. The platform’s emphasis on customer service and a wide range of trading products contribute to a well-rounded offering for investors of various experience levels and preferences.

Overall, we found that TD Ameritrade provides a trustworthy trading environment for investment, however, we advise conducting your research and evaluating whether the firm’s offerings suit your specific trading requirements.

Based on Our findings and Financial Expert Opinions TD Ameritrade is Good for:

  • Stocks and Options trading
  • Investing
  • Traders from the USA and Singapore
  • Direct market access
  • Paper trading
  • Currency trading
  • Advanced traders
  • Professional trading
  • Commission based trading
  • Good education and trading tools
  • 24/7 customer support

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