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TD Ameritrade

By on November 6, 2012
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TD Ameritrade Logo

 

TD Ameritrade is an American online brokerage firm based out of Omaha, Nebraska. Currently its client base is as large as 7.2 million Americans and many more internationally. It has rapidly grown since 1983 to become one of the largest online brokerages in the world.

In this TD Ameritrade review, I’ll cover what TD Ameritrade has to offer, who they’re right for, and give you guys some links to the latest TD Ameritrade promotions. If you’ve used TD Ameritrade before, please add your own rating and review below.


TD Ameritrade – The Basics:

Investments: They offer investments in stocks, options, bonds, mutual funds, ETF’s, CD’s, UIT’s, futures and forex.
Commissions: All stocks and ETF’s are charged a flat rate of $9.99 regardless of the order size or time of order. Broker assisted trading in stocks and ETF’s costs $49.99. Options cost $9.99 in addition to $0.75 per contract. Mutual funds with no load cost $49.99. Treasuries are sold at a flat rate of $25. Bonds and CD’s are sold on the basis of net yield. Futures cost $3.50 per transaction.
Investor Education: TD Ameritrade has also invested significantly in developing educational and research resources. The program includes live webcasts and webinars, archived webinars, tutorials, articles, workshops and specialized course. You will also find an extensive online trader community to learn from at TD Ameritrade.
Mobile apps: Great apps for iPhone, iPad, Windows, Blackberry and Android users. They also have a mobile website.

 

The Ameritrade platform is very advanced, customizable and is very user friendly. They are known to provide solid customer service and have been rated by Barron’s as being among the best providers of in person service through their numerous local branch offices (customer service officials can also be reached 24/7 via phone, email and live chat).

No initial deposition is required to open up a cash account with TD Ameritrade, although a deposit of $2000 is required for margin accounts. Find out how you can trade FREE for 60 days + get up to 600 when you open an account today.


Pros & Cons Of TD Ameritrade:

Pros Cons
  • No additional charge for afterhours trading, large orders or penny stocks.
  • Large organization with many local offices.
  • No account inactivity or account maintenance fees.
  • Large range of credible 3rd party research.
  • Active online trader community.
  • Facility for virtual trading using paperMoney.
  • Acquired the thinkorswim platform recently.
  • High commission rates for stocks and ETF’s.
  • High commission rates for mutual funds.
  • Website becomes slow when traffic is high.
  • Margin rates are high.
  • Limited banking services.

How Others Rated TD Ameritrade In 2012:

Barron’s: 4/5 stars

          Highest rated category: Research Amenities

          Lowest rated category: Costs

Smart Money: 3rd Overall

          Highest rated category: Tie between Banking Services, Trading Tools and Research

          Lowest rated category: Commissions and Fees


Word On The Street Is…

TD Ameritrade is easily one of the best options for novice traders because of its extensive education programs, personalized customer service and active trader communities. According to Barron’s, TD Ameritrade also has the most efficient research amenities in the industry. It is also a great place for experienced traders with its advanced trading platforms.

Overall takeaway: Solid all around brokerage, although pricing is on the high side.


TD Ameritrade Offer Code:

Hit the link below to claim the latest TD Ameritrade offer. Click below to claim promotion code Trade free for 60 days and get up to $600

Where To Open A TD Ameritrade Account:

Open A Personal/Joint/Custodial/Business Account With TD Ameritrade: Apply Here

Open An IRA Account With TD Ameritrade: Apply Here

Open A Forex Trading Account With TD Ameritrade: Apply Here


P.S. Don’t forget, if you’ve used TD Ameritrade before, please help us by adding your rating and review below!

References:

  1. http://online.barrons.com/article/SB50001424052748704759704577267660673833538.html#articleTabs_article%3D0
  2. http://online.wsj.com/media/smbrokersurvey0612.gif
  3. http://en.wikipedia.org/wiki/TD_Ameritrade

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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