TD Ameritrade Review 2022: Pros, Cons and How It Compares – NerdWallet

Where TD Ameritrade shines

free research : TD Ameritrade offers a wide range of third-party inquiry from highly reputable sources, including the Federal Reserve Economic Database, Center for Financial Research and Analysis and Morningstar, which is all loose to users. High-quality deal platforms : In addition to its TD Ameritrade web and mobile platforms, the highly rated thinkorswim platform offers professional-level trading on desktop and mobile.

customer support : With 24/7 support via phone, text, facsimile, live old world chat, electronic mail or social media, plus in-person meetings at more than 250 branches, TDAmeritrade ’ s customer support is arduous to beat. big investment choice : TD Ameritrade has something for everyone : from a large survival of low-cost common funds to advance products like futures and forex trade.

Where TD Ameritrade falls short

fractional shares : Fractional shares were once a niche offer, but nowadays major players like Fidelity and Schwab are offering fractional trade. TD Ameritrade still isn ’ thyroxine, however, so investors with limited capital to invest may want to look elsewhere. fractional shares allow you to invest by the dollar total — not by the share — letting you build a portfolio of stocks that may be excessively expensive otherwise.

TD Ameritrade is best for:

  • Beginner investors .
  • advanced traders .
  • investor education/advice .
  • fund investors .

TD Ameritrade at a glance

Account minimal

$ 0
neckcloth trade costs

$ 0
history fees ( annual, transfer, close, inaction )

No annual or inactivity tip. $ 75 entire transmit ; $ 0 partial transfer .
Number of no-transaction-fee common funds

More than 3,700 .
Tradable securities

• Stocks. • Bonds. • common funds. • ETFs. • Futures. • Forex. • Foreign ADRs. • IPOs for qualified accounts .
Crypto handiness

No direct access to cryptocurrencies, but crypto coin trusts are available over-the-counter, and qualified clients can trade Bitcoin futures from CME .
trade platform

Two platforms : TD Ameritrade web and thinkorswim ( desktop ) .
mobile app

TD Ameritrade mobile app, TDA thinkorswim app .
inquiry and data

research, analysis, comment and news available from 15 providers, including Argus, CFRA, Reuters, Vickers and Morningstar .
Customer support options ( includes how easy it is to find winder details on the web site ) .

call, e-mail and live chat support 24/7 ; technical earphone support Monday – Friday, 7 ante meridiem to 6 post meridiem Eastern. In-person at 250+ local branches. Support besides available via text, Facebook Messenger, Twitter direct message, Apple Business Chat and Amazon Alexa .

More details about TD Ameritrade’s ratings

Account minimum: 5 out of 5 stars

TD Ameritrade does not have an report minimum.

Stock trading costs: 5 out of 5 stars

There is no commission on lineage trade at TD Ameritrade. however, if you plan to trade nonprescription securities ( those not listed on major exchanges like the NYSE ), you ’ ll pay up a $ 6.95 fee.

Account fees: 4.5 out of 5 stars

The only fee at TD Ameritrade worth mentioning is its wide bill transfer fee ; if you transfer all of your assets to another brokerage, you ’ ll have to pay a $ 75 tip, which is on the high end for this type of charge. however, the agent does n’t charge for fond transfers, nor are there annual or inactivity fees.

Number of no-transaction-fee mutual funds: 4 out of 5 stars

Though the choice of 3,700 no-transaction-fee reciprocal funds is n’t quite american samoa large as at some early brokers, you ’ ll still have enough of option in this category. TD Ameritrade besides excels at offering low-cost and low-minimum funds, with over 500 reciprocal funds on its chopine with expense ratios of 0.50 % or less, and over 1,000 with investment minimums of $ 100 or less. It ‘s an ideal broker for novice reciprocal fund investors.

Tradable securities: 5 out of 5 stars

TD Ameritrade aces the investing excerpt class by offering the broad scope of investments, including futures, forex and bitcoin futures trading for approved clients.

Crypto availability: 2 out of 5 stars

TD Ameritrade does n’t offer direct entree to cryptocurrencies ; however, crypto-based products, such as Grayscale Bitcoin Trust, are available through TD Ameritrade on the nonprescription market. Qualified TD Ameritrade clients can besides trade Bitcoin futures on the Chicago Mercantile Exchange ( CME ).

Trading platform: 5 out of 5 stars

TD Ameritrade offers two chief trade platforms, each with a corresponding mobile interpretation. TDAmeritrade.com is the on-ramp chopine that offers reasonably much everything an average investor needs to identify, research, screen and trade stocks, funds, bonds and CDs. Baked into the free chopine are :

  • Screeners .
  • A customizable landing page .
  • The broke ‘s GainsKeeper joyride, to track capital gains and losses for tax season .

individually, the company has a desktop trade platform called thinkorswim that ‘s aimed at serious stock, ETF, futures and forex traders. It has all the features active traders need, including advanced trading capabilities, a robust batting order of technical psychoanalysis tools and studies, customizable screeners and chart, backtesting capabilities, real-time news, quotes, market heat maps and more. Ca n’t get to your laptop in time or do n’t have any of the broker ‘s mobile apps installed ? You can besides 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 ship’s company besides offers a virtual trade simulator. surprisingly, few on-line brokers offer mock trade 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 provides $ 100,000 in drill “ money ” along with access to a allowance account. It ‘s available for unblock through the broker ‘s two platforms and its Mobile Trader app, although non-customers can register for a free 60-day test — a thoroughly manner to test a newfangled platform before committing to setting up a real-money report.

Mobile app: 4 out of 5 stars

The choice of platforms extends to the broker ‘s fluid products. TD Ameritrade Mobile ( io and Android ) is a companion to the background chopine. The TD Ameritrade thinkorswim app is aimed at the advanced trade herd and is a companion app to the desktop platform of the same name. The company besides has TD Ameritrade Mobile Web, the browser-based platform optimized for fluid devices. TD Ameritrade Mobile has a lot of the trade functionality of the web-based chopine and besides provides Level II quotes ( not available on the web platform ). The app includes custom watchlists, educational video and a long list of alarm options, so investors can be notified about changes to their holdings. The thinkorswim app includes futures and forex trade, complex option ordering capabilities ( three or four legs ) and chat accompaniment from TD ‘s trade desk.

Research and data: 5 out of 5 stars

TD Ameritrade ’ s research selection actually stands out from other brokerages, with research, analysis, comment and news available from 15 providers, including FRED, Argus, CFRA, Reuters, Vickers and Morningstar.

Customer support options: 4.5 out of 5 stars

TD Ameritrade ’ s customer support is second base to none. virtually every medium you can think of ( from texting to sociable media ) offers support 24/7, and if you ’ re the character that wants to talk to person in person, there are more than 250 branches nationally.

Other TD Ameritrade details you should know

In October 2020, Charles Schwab completed its skill of TD Ameritrade, but integration of the two companies is expected to occur over the future 18 to 36 months.

Is TD Ameritrade right for you?

TD Ameritrade is a rare agent that covers all of the bases and does it very well. For a broke with no deputation on stock and ETF trades, clients get an impressive list of services including portfolio-building guidance, hands-on invest courses, high-quality research, trade tools and a wide-eyed selection of no-transaction-fee reciprocal funds.

How do we review brokers?

NerdWallet ’ s comprehensive examination follow-up action evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our purpose is to provide an independent assessment of providers to help arm you with information to make sound, inform judgements on which ones will best meet your needs. We adhere to strict guidelines for column integrity.

We collect data directly from providers through detail questionnaires, and conduct first-hand examination and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists ’ hands-on research, fuel our proprietorship judgment action that scores each supplier ’ s performance across more than 20 factors. The final examination end product produces star ratings from poor ( one star ) to excellent ( five stars ). Ratings are rounded to the nearest half-star. For more details about the categories considered when evaluation brokers and our process, read our full methodology. disclosure : The author held no positions in the aforesaid securities at the original prison term of issue .

Related Posts