TD Ameritrade Review – Award-Winning Platforms and Zero Commissions

TD Ameritrade is an award-winning online stock brokerage, featuring commission-free stock and ETF trades, a variety of investment accounts, robust tools, and plenty of additional features.
Advertising Disclosure.

Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone. This article may contain links from our advertisers. For more information, please see our Advertising Policy.

The Military Wallet has partnered with CardRatings for our coverage of credit card products. The Military Wallet and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on The Military Wallet are from advertisers. Compensation may impact how and where card products appear, but does not affect our editors’ opinions or evaluations. The Military Wallet does not include all card companies or all available card offers.

Table of Contents
  1. TD Ameritrade Features
    1. Additional Features
  2. What Is TD Ameritrade?
  3. How to Get Started with TD Ameritrade
  4. How Does TD Ameritrade Work?
  5. Investment Types
  6. Pricing
  7. TD Ameritrade Customer Service
  8. TD Ameritrade Pros & Cons
  9. Current TD Ameritrade Promotions
  10. TD Ameritrade Review – Conclusion

TD Ameritrade Review

Product Name: TD Ameritrade
Product Description: Product Description: TD Ameritrade is an award-winning online broker that now charges zero commissions on stock and ETF trades. There's no minimum required to open an account, either, making this service appealing to investors of all stripes. With a TD Ameritrade account, you can access the high-level thinkorswim platform, along with easier-to-use platforms for desktop and mobile device. Plus, there's a wealth of research and trading tools to help you make the best decisions for your investments.
Commissions and Fees
Account Options
Investment Options & Asset Allocation
Tools & Resources
Website / App / Ease of Use
Customer service

Summary

4.9

It sure is hard to beat TD Ameritrade, especially now that the award-winning broker has eliminated commissions for stock and ETF trades. When it comes to Account Features, there are plenty, from taxable individual accounts to IRAs, to accounts for business entities too. To correspond, there’s also a wealth of Investment Types to choose from — you can trade nearly everything. Of course, TD Ameritrade is renowned for its Tools & Resources, although there might be a little too much for the brand-new investor to sort through. That detracts just slightly from the Website/App/Ease of Use. However, if you need a hand, you’ll find 24/7 Customer Service to help you.

TD Ameritrade has consistently been one of the highest-rated discount brokerage firms around. It offers a little something for everyone – from the beginning investor to the experienced professional.

In our TD Ameritrade review, we’ll take a look at what makes this online stock broker such a great choice for investors.

TD Ameritrade Features

TD AmeritradeFeatures
Commissions & Fees$0
Mutual Fund Trades$49.99
Types of InvestmentsStocks, Penny Stocks, ETFs, Mutual Funds, Bonds, FOREX, Futures
Types of AccountsTaxable, Joint, Custodial, Trusts, Partnerships, Retirement Accounts (Roth IRAs, Traditional IRAs, Rollover IRAs, SEP IRAs, Simple IRAs, Solo 401(k)s, Annuities), College Accounts (529, Coverdell)
Managed Portfolio AvailabilityYes
Banking ServicesChecking, Savings, Money Markets, CDs
Account Minimums$0
App AvailabilityiOS, Android
Customer ServicePhone: 24/7; Live Chat: 24/7; Email
Margin AvailabilityAvailable
FINRA CRD#CRD#: 7870
SEC Registration NumberSEC#: 801-60469, 8-23395
Current PromotionsNo current promotions

Additional Features

  • More Than 300 Local Branches. If you need face-to-face assistance, there are more than 300 local branches where you can consult with a professional.
  • Educational Resources. TD Ameritrade offers a cornucopia of educational resources, from articles and videos to its “Ask Ted” chatbot and live seminars.
  • Third-Party Stock Research. Customers have access to a variety of third-party research tools from names such as Standard & Poor’s, Morningstar Associates, and MarketEdge, as well as access to unique reports like those from ResearchTeam.

What Is TD Ameritrade?

TD Ameritrade is a brokerage firm with nearly 40 years of experience in directing and managing trades for its customers. In addition to offering a state-of-the-art online trading platform, the brokerage also has more than 300 local branches, which is important if you’re the type of investor who prefers working with a human broker instead of doing everything online yourself.

You can also link your TD Ameritrade brokerage account to a TD Bank account if you have one (or you can open one to simplify your banking and investing).

How to Get Started with TD Ameritrade

Opening an account with TD Ameritrade is quick and hassle-free. You’ll need the usual information handy to get started: your name, address, Social Security number, employer details, financial account information, etc.

Funding Your TD Ameritrade Account. There are a number of ways to fund your TD Ameritrade account. You can deposit funds electronically with an ACH transaction, via wire transfer, by mailing in a check, or by transferring investments including stocks, funds, and some CDs from another financial institution. You can also directly deposit funds from an existing TD Bank account.

Transferring Money. If you wish to withdraw money from your TD Ameritrade account, you can do so by requesting a wire transfer or a paper check. Or you can easily transfer funds from your TD Ameritrade brokerage account to your TD Bank checking or savings account.

How Does TD Ameritrade Work?

TD Ameritrade is among the industry leaders in many areas, and it’s competitive where it counts the most, including its lack of commissions, types of investments offered, investing tools, education center, and customer service.

You can even link your TD Bank account if you have one, making it easier to make transfers when you need to access your funds or add more for additional investments.

TD Ameritrade has some of the best trading platforms in the business.

The broker is well known for its thinkorswim platform, which you can download to your desktop. Thinkorswim is a professional-level platform that provides users with a wealth of analytical tools, as well as charting capabilities, in-depth research, and 24 / 5 live trading for select securities. You can chat with other traders, receive custom alerts, and use stock screeners to fine-tune your trading ability.

However, all levels of investors can enjoy TD Ameritrade’s Web Platform, which isn’t as complicated as thinkorswim but still provides a large menu of features. There’s a focus on research and education here, and you can customize your dashboard to receive up-to-the-minute information that affects your trades.

There’s also the Mobile App you can use too. It has practically all the capabilities of the Web Platform but fits in your pocket.

Investment Types

TD Ameritrade offers a variety of investment accounts for individuals, families, partnerships, and more. Among the offerings are:

  • Standard Accounts: Individual, Joint Tenants, Tenants in Common, Community Property, Tenants by the Entireties, Guardianship, or Conservatorship.
  • Retirement Accounts: Traditional and Roth IRAs, Rollover IRAs, SEP IRAs, SIMPLE IRAs, Solo 401(k)s.
  • Education Savings Accounts: 529, Coverdell ESA, UGMA/UTMA.
  • Specialty Investing Accounts: Trust, Limited Partnership, Partnership, Investment Club, LLC, Sole Proprietorship, Corporate, Non-Incorporated Organization, Pension or Profit Plan for Small Business.

In your TD Ameritrade account, you can invest in just about everything:

  • Stock
  • ETFs
  • Mutual funds
  • Futures
  • Forex
  • Bonds
  • CDs
  • Annuities

You can even avail yourself of a managed portfolio created for your individual needs and maintained by TD Ameritrade (for an extra fee).

Pricing

All internet equity trades are commission-free. Plus, there are no account minimums, maintenance fees, or any other unexpected fees.

Trades at TD AmeritradePricing
Stocks – Online Trades
No Commission
Broker-assisted Trades
$25.00
ETFs
No Commission
Mutual Funds – No-Transaction-FeeNo Commission
Mutual Funds – No Load$49.99
Mutual Funds – LoadNo Commission*
Treasuries at AuctionAvailable Commission-Free
Futures$2.25 per Contract (inclusive of exchange fees)

*Fees included in fund; see the prospectus for more information. See TD Ameritrade website for additional product offerings and pricing schedules.

TD Ameritrade Customer Service

You can get help with your TD Ameritrade account 24/7 by calling the customer support center at 1-800-669-3900, using the email support system, or by visiting one of more than 300 branches nationwide.

TD Ameritrade customer support centers offer more than just account troubleshooting and can help with investment questions, including understanding investments, making trades, retirement account questions, and more. Customer support is offered in English, Spanish, Cantonese, and Mandarin.

TD Ameritrade Pros & Cons

Pros

  • Commission-Free Trades. Simply put, you can’t beat free. Before TD Ameritrade removed commissions from its online equity trades, the per-trade cost for stocks and ETFs was $6.95 – a relatively high fee. Now that TD Ameritrade has eliminated commissions, it is a lot more appealing.
  • Excellent Trading Platforms. TD Ameritrade’s thinkorswim platform is definitely among the best in its class. Plus, the everyday Web and Mobile platforms really shine too.
  • Research and Education. The broker provides users with a wealth of data and information for making informed trades. There’s a generous variety of tools, as well as online tutorials for new investors. There’s also a chatbot, “Ask Ted,” that can help you make the most of your account 24/7.
  • Plenty of Investment Options. With TD Ameritrade, you can invest in everything from stocks to FOREX, to annuities. Plus, there’s a huge roster of account types to choose from, as well.

Cons

  • Not the Simplest Broker for Beginners. If you’re a total newbie, you might find TD Ameritrade’s platforms a little overwhelming. In fact, sometimes the site seems so full of data and tools that it can be tricky to figure out exactly what to do. If you would prefer more hand-holding while you get started with investing, check out M1 Finance.

Current TD Ameritrade Promotions

From time to time, TD Ameritrade offers sign-up bonuses for new customers. However, there is no current sign-up offer.

TD Ameritrade Review – Conclusion

TD Ameritrade is one of the industry’s most acclaimed online brokers, and with good reason.

The desktop and mobile platforms, research and education archives, and technical tools make high-level trading accessible to most levels of investors. That’s not to mention the fact that customers can benefit from no commissions on most stock and ETF trades.

Who is TD Ameritrade best for? If you’re already an experienced investor, or if you feel ready to dive into online trading – and want to learn a whole lot along the way – TD Ameritrade would be a good fit for you.

Visit TD Ameritrade to Learn More or to Open an Account


About Post Author

Get Instant Access
FREE Weekly Updates! Enter your information to join our mailing list.

Posted In:

Reader Interactions

Comments

    Leave A Comment:

    Comments:

    About the comments on this site:

    These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

The Military Wallet is a property of Three Creeks Media. Neither The Military Wallet nor Three Creeks Media are associated with or endorsed by the U.S. Departments of Defense or Veterans Affairs. The content on The Military Wallet is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on The Military Wallet should not be attributed to the Dept. of Veterans Affairs, the Dept. of Defense or any governmental entity. If you have questions about Veteran programs offered through or by the Dept. of Veterans Affairs, please visit their website at va.gov. The content offered on The Military Wallet is for general informational purposes only and may not be relevant to any consumer’s specific situation, this content should not be construed as legal or financial advice. If you have questions of a specific nature consider consulting a financial professional, accountant or attorney to discuss. References to third-party products, rates and offers may change without notice.

Advertising Notice: The Military Wallet and Three Creeks Media, its parent and affiliate companies, may receive compensation through advertising placements on The Military Wallet; For any rankings or lists on this site, The Military Wallet may receive compensation from the companies being ranked and this compensation may affect how, where and in what order products and companies appear in the rankings and lists. If a ranking or list has a company noted to be a “partner” the indicated company is a corporate affiliate of The Military Wallet. No tables, rankings or lists are fully comprehensive and do not include all companies or available products.

Editorial Disclosure: Editorial content on The Military Wallet may include opinions. Any opinions are those of the author alone, and not those of an advertiser to the site nor of  The Military Wallet.