TD Ameritrade 2021 Review | NextAdvising with TIME

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TD Ameritrade is one of the largest discount brokerage firms in the country. The Omaha, Nebraska-based brokerage provides trading and investing services to 11 million client accounts, totaling more than $ 1,000 billion in assets. In addition, it provides custodial services to over 6,000 independent investment advisers.

For those interested in stand-alone and convenient trading, TD Ameritrade offers a range of investment tools, in-depth analysis and market news. However, TD Ameritrade’s Robot Advisor, or Automated Investment, Essential Portfolios, is no longer available. Robo advisers offer automatic, hands-off investing for all investors and are much cheaper than traditional human advisers.

New investors could benefit from the free online investing courses available on the website, while active traders would benefit from the investment platforms available on the desktop and mobile app. Managed portfolios are also available for those who wish to benefit from better guidance and personalized advice from an investment professional. NextAdvisor recently named TD Ameritrade as one of the top online brokers of 2021.

Read on to learn more about TD Ameritrade.

TD Ameritrade Exam 2021

TD Ameritrade does not offer commission fees for stocks, ETFs and options listed on the US stock exchanges. There are currently over 2,300 ETFs with no commission fees for online transactions. Account holders can trade on its mobile app and receive 24-hour customer service over the phone. They can also enter over 175 TD Ameritrade branches.

TD Ameritrade was founded in 1975. In October 2020, Charles Schwab acquired TD Ameritrade and with this, TD Ameritrade’s robotic advisory services, Essential Portfolios, were canceled. According to its website, it will likely be until 2023 for account holders to undergo any changes. Until then, they will function as two separate brokerage houses.

Advantages and Disadvantages of TD Ameritrade


  • No commission fees on stocks, ETFs and options on US stock exchanges

  • Solid trading tools on platforms such as thinkorswim which is its electronic trading platform

  • Solid educational resources such as free online investing courses, personalized learning paths and paperMoney, a virtual stock booster to help newbies understand the basics of investing before investing with money. real money.

  • 24/7 customer service

The inconvenients

  • No robo advise. Would need to open an affiliate account through Charles Schwab.

  • Managed portfolios require a minimum investment of $ 25,000 with advisory fees of 0.75% to 0.90% for the first $ 100,000.

  • Cryptocurrency trading is not currently available

  • Share fractions are not currently available

TD Ameritrade at a Glance

  • Self-managed online trading platform or managed portfolios
  • No robot advisers
  • Retirement accounts include Traditional IRA, Roth IRA, and Rollover IRA
  • The investments available include over 13,000 mutual funds and over 2,300 ETFs.
  • Customer service representatives available during the week.
  • No commission fees for online transactions in stocks, ETFs and options. There is a contract fee of $ 0.65 for options. Other fees apply.
  • Third-party research tools and in-depth analysis available through Market Edge, its research platform.
  • Trade stocks, monitor and track investments, set up price alerts through the TD Ameritrade mobile app.
  • Thanks to thinkorswim, its trading platform, active traders can have more advanced charting capabilities, real-time market information and access to personalized educational resources.

Investments available on TD Ameritrade

TD Ameritrade Fees

For a full overview of fees, readers can check out the TD Ameritrade price page and brokerage fees page.

Costs Rising
Trading and commission fees $ 0 commission on ETFs, stocks and options trades listed in the United States.

Fees for stocks and ETFs: $ 0 online, $ 5 for phone trades, $ 25 for broker-assisted trades.

Mutual Funds: $ 0 commission for online transactions and FSNs, $ 49.99 for no-load upload, $ 0 commission for upload.

Options: $ 0.65 fee per contract, $ 5.00 + $ 0.65 for telephone transactions, $ 25 + $ 0.65 for broker-assisted transactions.

Minimum account for brokerage and trading services $ 0
Account maintenance fees for brokerage and trading services $ 0
Account Fee No data or inactivity charges. $ 75 for outgoing transfer, $ 25 for transfers (in the United States and abroad); other charges may apply.
Investment management fees Selective portfolios: minimum investment of $ 25,000, 0.75% to 0.90% for the first $ 100,000

Personalized portfolios: minimum investment of $ 250,000, 0.60 to 0.90%

Who is TD Ameritrade best for?

TD Ameritrade is ideal for investors who wish to conduct their own trades on an online platform.

New investors would appreciate the range of educational resources, such as free online investing courses, a practice account to help newbies get to grips with the fundamentals of investing, and personalized learning paths.

Active traders can also take advantage of sophisticated platforms such as thinkorswim and benefit from zero commission fees on stocks, ETFs and options listed in the United States. However, if anyone is looking for a robot advisor, TD Ameritrade does not currently offer one. Those looking for automated investing options will have to look elsewhere.

How to open an account with TD Ameritrade

1. Focus on what you want from a brokerage house. Start by determining what your investment needs and goals are. Identifying the types of tools and information you would like to have access to, along with the level of advice, can help you narrow down your choices and determine if TD Ameritrade is a good fit for your investing needs.

2. Do your research. Spend time researching the fees and costs, investments, tools and resources available. What is their customer service like and do they have an investment app? It is also crucial to know what types of investments are available.

3. Open an account online. You can open a TD Ameritrade brokerage account online. Before you begin, make sure you have your Social Security number or ITIN ready. If you are not a U.S. citizen, you will need a passport, visa, or foreign ID. Finally, make sure you have your employer’s address and phone number.

If you need to transfer funds from another brokerage, you can do so online. Once your account is opened and funded, you can trade on the same day. TD Ameritrade has over 175 physical locations in the United States. If you have any questions, 24 hour help is available via chat or phone.

TD Ameritrade compared to others

TD Ameritrade * Charles Schwab Avant-garde
Types of investment accounts Brokerage and trading, IRA and other retirement accounts, managed accounts Brokerage and trading, IRA and other retirement accounts, managed accounts, education savings and savings plans Brokerage and trading, IRAs and other retirement accounts, education savings and savings plans
Costs $ 0 trading commission fee on online trades for stocks, ETFs and options trades; other fees vary $ 0 trading commission fee for online transactions in stocks and ETFs; other fees vary $ 0 trading commission fee on online transactions for Vanguard stocks, ETFs and mutual funds; other fees vary
Account Fee No annual fee No annual fees, inactivity, maintenance $ 20 annual fee on most accounts under $ 10,000
Index funds Over 2,300 ETFs Third largest index fund provider, over 2,000 Over 100 Vanguard index funds
Mobile app Investment application available Investment application available Investment application available
Customer service Account support available 24/7 by phone 24/7 by phone and chat, physical locations Representatives available by phone from 8 a.m. to 8 p.m. EST. days of the week


How Much Money Do You Need to Open a TD Ameritrade Account?

There is no minimum to open an account with TD Ameritrade. However, to be considered for certain option privileges and for margin, i.e. when you borrow money from a broker to buy securities, such as stocks, bond options and for index funds, you will need a minimum of $ 2,000 in your account.

Can you lose money with a TD Ameritrade?

TD Ameritrade is a member of the Securities Investor Protection Company (SIPC). This means that as an account holder, your securities are protected up to $ 500,000, which includes $ 250,000 in cash claims.

However, its securities are not protected against fraud or the vagaries of the market. And no matter which brokerage firm you use, there is a level of risk when you invest. Your securities could lose value and, in turn, you could lose money.

How much does it cost to use TD Ameritrade?

There are no commission fees for online transactions of stocks, bonds and ETFs listed on a US stock exchange. For option trades, a fee of $ 0.65 per contract applies. For over-the-counter (OTC) stocks, including stocks not listed on a US stock exchange, a commission fee of $ 6.95 is charged.

Are there any fees for depositing money into TD Ameritrade?

When you open an account, you can deposit money through electronic bank deposit, wire transfer, check, or by transferring funds from another fund. There is no charge for depositing money into your TD Ameritrade Account.

Can I start trading with $ 100?

Since there is no minimum to open an account, you can start investing with $ 100.

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