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TD Ameritrade Review: Competitive and Highly Rated Online Broker

TD Ameritrade has been around for decades and one of the most well known online brokerage firms. In this review, I’ll go into detail to give you an explanation as to why or why not this broker is right for you.

What is TD Ameritrade?

TD Ameritrade is an online brokerage firm based in Omaha, Nebraska. The letters TD are derived from Toronto-Dominion Bank, the largest shareholder. TD is also the owner of TD Bank based in Cherry Hill, NJ. TD Ameritrade provides services for individuals who are investing online.

How does TD Ameritrade compare with other online brokers?

TD Ameritrade is not the cheapest in the industry compared to others like Ally Invest. They are, however, similar to ETrade in offering access to branch locations around the country. In fact, they currently have investment consultants at over 100 branch offices.

Similar to larger online brokers, TD Ameritrade offers many investment options including common stock, preferred stocks, bonds, mutual funds, exchange-traded funds (ETFs), options, and money market accounts.

Commission and Fees

TD Ameritrade is on the higher end of the per trade fee at $6.95 making it on par with ETrade. This makes it more expensive than other online brokers such as Fidelity and Scottrade.

Who is TD Ameritrade best for?

TD Ameritrade does charge more per trade than some of its competitors. It does make up for it with a great trading platform and research capabilities. The online broker is good for investors who have moderate experience and want a bunch of features and tools to build wealth.

The TD Ameritrade platform is easy enough for a beginner to use but it may be best to stick with other options for lower trade fees. If this is so, consider Robinhood with no fee trades or Stash Invest allowing you to buy ETFs starting at $5.

Ally Invest Features

Thinkorswim Trading Platform – TD Ameritrade’s Thinkorswim is the name of their trading platform offering advanced tools, from heat maps to earnings calendars to back testing. It was voted the number one trading platform by Barron’s for best long-term investing and for novices.

No Minimum Opening Deposit – You can fund an account with any amount which is great for beginner investors.

Low Fees – With a $6.95 per trade fee it’s not the cheapest but it’s affordable. The simple pricing makes it easy to execute on stock trades.

Investment Options – TD Ameritrade offers many asset classes such as over 1200 mutual fund offerings.

Online Community – Offering an online forum for investors to communicate with each other, see each other’s trades, and even post investment-related materials such strategies, recommendations, or general opinions.

How to start a TD Ameritrade account

  1. Go to TD Ameritrade and click here to get their latest promotional offer.
  2. Enter your personal information and verify your identity.
  3. Enter your employer name and address.
  4. Choose the type of account you want to open and agree to the terms.
  5. Fund your account and start trading.

My Smile Review: Should you use TD Ameritrade?

In my TD Ameritrade review, the overall experience was excellent. Although their fees are higher, you get high quality tools and superior service. Their customer service support in my review was helpful and knowledgeable.

TD Ameritrade is a great online broker that is easy to use and has great investment options for many investors looking for a solid online brokerage account.

An account with TD Ameritrade has no minimum balance requirement. The account opening process is easy and doesn’t take much time. You can also fund the new account electronically and begin buying and selling stocks on the same day.

And as an added bonus, you’ll have access to physical branch locations is a plus if you have any questions. Give TD Ameritrade a look and open an account and start trading today.

TD Ameritrade

Products & Services
Ease of Use
Customer Service
Fees & Commissions
Transparency

TD Ameritrade is a great online broker that is easy to use and has great investment options for many investors looking for a solid online brokerage account. 

Trade with TD Ameritrade
User Rating: 4.55 ( 1 votes)
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Jason Vitug

Jason Vitug is founder at phroogal, creator of the award-winning project the Road to Financial Wellness, and author of the bestseller and NY Times reviewed book, You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life.

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