For more than 40 years, TD Ameritrade has "been empowering clients by helping them take control of their financial lives." The firm has a long history of innovation, and has pioneered a number of "firsts" in the brokerage industry, including touch-tone trading (1988), online trading (1994), online options order entry and electronic trade confirmations via email (late 1990s), plus paperless account creation and the industry's first trade execution guarantee of 10 seconds (2000s). Today, some seven million self-directed traders and investors use TD Ameritrade's trading platforms to research and trade stocks, ETFs, futures, forex, options, mutual funds, bonds and other fixed-income securities. The firm is based in Omaha, Nebraska.
TD Ameritrade offers access to all of today's popular investment products, including stocks, ETFs, futures, forex, options, mutual funds, bonds and other fixed-income securities, plus IRAs and fixed and variable annuities. TD Ameritrade's commissions are flat rate and stay the same whether you trade 100 or 10,000 shares, which is an advantage if you place large trades. But that also means there's no discount if you trade frequently, which can be a disadvantage for active traders. The firm offers 100+ commission-free ETFs and hundreds of no-transaction-fee (NTF) mutual funds.
TD Ameritrade has been in business for more than four decades and has earned industry recognition for its trading platforms, investment offerings and trading tools. The firm is regulated by FINRA, and customer accounts are protected under FDIC (deposit accounts held at TD Bank) and SIPC. In addition, excess-SIPC coverage is provided by London insurers.
As a member of FINRA, FDIC and SIPC, TD Ameritrade offers multiple layers of protection if the firm becomes insolvent. With TD Ameritrade's Asset Protection Guarantee, if you lose cash or securities from your account due to unauthorized activity, TD Ameritrade will "reimburse you for the cash or shares of securities you lost." From a corporate social responsibility standpoint, the company has a history of supporting numerous community initiatives and has worked to reduce its carbon footprint by seeking LEED Certification for any new real estate projects.
TD Ameritrade offers services aimed at self-directed investors and traders, as well as those who want guidance when it comes to making investment decisions. Its website trading platform (at tdameritrade.com) offers basic tools and resources for casual investors and traders. The firm's flagship trading platform--thinkorswim--however, is ideal for active traders and anyone who wants advanced charting and trading capabilities. In 2009, TD Ameritrade acquired thinkorswim Group Inc., which included thinkorswim, the fastest-growing brokerage at the time. Ideal for advanced traders, the thinkorswim downloadable desktop platform delivers a pro-level, intuitive and highly visual experience. Users can leverage an archive of tutorials, how-tos and more at the Learning Center, or take advantage of live, in-depth in-platform training with "Swim Lessons." Trade Architect, a powerful web-based platform, combines features of tdameritrade.com and thinkorswim, and is ideal for active investors and traders. On-the-go investors and traders will enjoy TD Ameritrade's two mobile apps, which boast many of the same features as the other computer-based platforms.
thinkorswim, TD Ameritrade's pro-level trading platform, is a feature-rich software package that rivals some of the better-known pro-level platforms out there. It's intuitive, visually impressive and offers numerous advanced tools, including 400+ technical studies, 20 drawing tools, backtesting capabilities, in-depth options analysis and live-streaming newsfeeds from CNBC. Traders can develop their own technical indicators using thinkorswim's proprietary coding language, thinkScript (it's worth noting that very few brokerages offer this type of functionality). Social investors will enjoy TD Ameritrade's "Social Signals," a one of a kind resource that pulls investing insights from Twitter. Two mobile apps offer different user experiences: one for novice and casual investors (TD Ameritrade Mobile), and one designed for active traders (TD Ameritrade Mobile Trader).
The Web trading platform (at tdameritrade.com) is the firm's most basic platform, but it has enough features to keep casual investors and traders satisfied, including customizable alerts, screeners, social sentiment and access to plenty of third-party research and educational resources. A cool feature that you can access from any page is the "My Dock" customizable dashboard (click the Show Dock button at the top of any page). My Dock has four columns that display up to five "modules" each--such as account balances, indices, RSS reader, stock events, streaming news and your watch list. Drag and drop the modules you want to display, and rearrange to suit your needs. In addition to the Web platform, customers can access Trade Architect (a web-based platform), thinkorswim (their flagship, pro-level platform) and two mobile apps, which all automatically sync with one another to provide a seamless research/trading experience.
TD Ameritrade's Web trading platform may be basic, but it's well-designed, easy to navigate and offers a wide range of tools and resources to help investors and traders research, place and monitor trades. A handy feature is the SnapTicket--a built-in order trading feature that automatically docks to the bottom of your computer screen. Use it to see quotes, enter buy and sell orders, view options chains, see your buying power (cash balance, margin balance, etc.) and monitor your orders and positions. Another convenient feature: Enter a ticker symbol at the top of any page to view an in-depth summary and access additional research resources like news, social signals, charts and fundamentals.
Like other web-based trading platforms, TD Ameritrade's web platform lacks streaming-quotes (you'll have to refresh the page to update prices) and it doesn't support advanced orders, such as OCO and brackets. These features, however, are available in the thinkorswim platform.
While most brokers support a mobile app, TD Ameritrade offers two: TD Ameritrade Mobile, which is designed for novice and casual investors, and TD Ameritrade Mobile Trader--the App Store's #1 mobile trading app--which is ideal for savvy active traders. Both apps can be used to research, trade and monitor positions, and you can access reliable research from industry leaders, including Credit Suisse, CFRA and The Street. You can also deposit funds (just take a photo of your check) and transfer funds between your TD Ameritrade accounts and other financial institutions. Questions? Access the In-App Video feature to view step-by-step walk-throughs, or use Support Chat to live text with a trading specialist.
Both apps offer plenty of functionality, but TD Ameritrade Mobile Trader, not surprisingly, is more feature-rich. This robust app boasts advanced charting and order entry, 300+ technical studies and live streaming news from CNBC US, CNBC Europe and CNBC Asia. Trade equities, multi-leg options, futures and forex while accessing Level II quotes, regional quotes, futures market depth and NASDAQ Options Depth. You can even try out new strategies and practice placing trades with PaperMoney(R), TD Ameritrade's simulated trading environment.
One drawback to TD Ameritrade's mobile offerings is that there are two apps, which can cause some confusion. It may take a little research to decide which app is better for you. Like most apps, there are occasional bugs and glitches that can affect the apps' functionality; make sure you have the most up-to-date version and that your device has enough memory. Note that you'll need iOS 9.0 or higher to run either app on your Apple device.
Whether you're already a customer or just thinking about becoming one, TD Ameritrade offers numerous ways to connect--by phone, email, secure messaging, fax, text, Facebook Messenger and via in-person support at one of 100+ branch locations. TD Ameritrade also offers several accessibility services, including telecommunications relay, statement alternatives, sign language and oral interpreter services.
Visit tdameritrade.com and scroll to the bottom of any page, or log into your account and select the Contact Us button at the top of any page, to view support options. Phone support is available 24/7 with dedicated lines for existing clients, new accounts and retirement consultants. You'll also find dedicated lines for support in Spanish, Cantonese and Mandarin. For automated client support, click the Ask Ted button at the top of any page (after logging into your account) to get immediate answers to questions about products, tools and services.
TD Ameritrade delivers a powerful suite of research tools to help investors and traders analyze potential investments, including tools for both fundamental and technical analysts. To get started, enter a ticker symbol in the search box at the top of any webpage (after logging in) to view a summary, and click tabs to access news, social signals, charts, earnings, fundamentals, valuation, a calendar, analyst reports, peer comparison and SEC filings. The thinkorswim platform is your best bet for technical analysis, as it offers 400+ technical studies and 20 drawing tools.
TD Ameritrade's research offerings are comparable to those of its largest competitors, and both casual and active investors and traders should be able to find the research tools they're looking for. The offerings are well organized and easy to navigate. While most of the research is pretty standard, two features stand out. One is the Social Signals tab (powered by LikeFolio), which displays a list of real-time, brand-relevant tweets, along with a summary of the most-tweeted brands in the past 30 days. The other is the Peer Comparison tab, which compares the stock's performance against its closest competitors, including 52-week change, market cap, Beta, dividend yield, P/E, total revenue, profit margin, earnings growth, revenue growth and Social Signals (7-day tweet volume and sentiment--the percentage of positive tweets about the company or its brands and products).
TD Ameritrade's research offerings are solid, and it's difficult to come up with many negatives. The charting on the Web platform is very basic, but thinkorswim boasts fully customizable charting with hundreds of technical studies, so traders can head there if they need advanced charting. One weak point: You won't find much news coverage or research on global markets. Also, the Web platform's research offerings are visually out-of-date. For example, the stock-specific news feed is a list of monochromatic dates and headlines. The information is there--it's just not as visually pleasing as it could be.
TD Ameritrade has done a great job assembling its educational resources into one easy-to-navigate place--the Education Center. While this should be standard practice for all brokers, it's not, which makes it all the more noteworthy that TD Ameritrade's educational content is so well organized. You can sort content by topic, media type, level and progress to choose material based on your interests and current knowledge.
The Education Center's landing page features new content at the top of the page, such as "Why Corporate Earnings Matter to You" and "Tax-Efficient Investing." Scroll down to filter content by topic (bonds, ETFs, mutual funds, forex, futures, options, personal finance, portfolio management, stocks, strategies, technical analysis), media type (course, video, playlist), level (Rookie, Scholar, Guru) and progress (not started, in progress, completed). You can also find a list of online events: Click on any title to view a description, date/time, presenter information and a registration link.
With TD Ameritrade's Online Cash Services, you can access, spend and manage your money with a debit card and free ATM withdrawals, free check writing and free online bill pay. There are no monthly maintenance fees, and you'll get reimbursed for any ATM charges nationwide. Other banking services are available through TD Bank, though the companies are completely separate (so there are no benefits or discounts/specials with TD Bank).
TD Ameritrade offers a limited range of banking options; however, its affiliate--TD Bank--offers a full range of banking services, including checking, savings and money market accounts, credit cards, home mortgage loans, home equity loans and lines of credit, personal loans and lines of credit and prepaid cards. It's possible to link your TD Ameritrade and TD Bank accounts so you can transfer funds between accounts, but you can also do that with another bank you use instead.
TD Ameritrade announced in October of 2016 they would buy
Scottrade for $2.7 billion. One year later the acquisition was complete. TD is
famed for its trading platforms and high tech approach to trading, while
Scotttrade was well known for their personal approach. In the merger, the
two firms believed customers would get the best of both worlds.
As of January 24, 2017, TD Ameritrade's stock
was trading at $55.80, up from $46.82 a year before, with a market cap of
TD Ameritrade plans to rebrand more than 250 Scottrade physical locations. The company is touting access to their "award-winning trading platforms and mobile trading apps" and investing education services as reasons for Scottrade customers to stick around.
With TD Ameritrade there is no minimum to open an account, but there is a $2,000 required deposit to be allowed to trade with margins and get options privileges.
TD Ameritrade offers extended hours of overnight trading to their customers. You can select securities when it best suits you which mean you can trade 24 hours a day five days a week except for market holidays.
TD Ameritrade is a broker that can appeal to most investor types. It has the tools that an advanced and experienced trader would appreciate while also having the educational materials to get the beginner on the road to understanding the investment world.
Penny stocks are available for trade with TD's platform though anyone who wishes to trade penny stocks should consider the high level of risk that goes along with it.
Trading on margin is available with TD Ameritrade. To be able to trade on margin you need to apply for that account type.