TD AmeriTrade Review

TD AmeriTrade is the king of analytics in the world of digital trading. It comes vetted with more than 20 years of experience and offers many standalone features for both new and advanced traders. The platform is universally synced with powerful apps for trading on the go. Many modern technical indicators are available on TD AmeriTrade along with a plethora of learning programs and predication models.

The brand also gives plenty of profit-making opportunities to its users in terms of low margin-lending, multi-legged options trading, commission-free ETFs, cash-management services, and Managed Portfolios on a variety of different asset-classes. We cover this brand in detail after a first hand experience of trading in the TD AmeriTrade platform.

TD Ameritrade: Safety and Security

TD AmeriTrade is owned and operated by TD Ameritrade Holding Corporation, which is a listed company on the NASDAQ stock exchange with the symbol AMTD. It is headquartered in Omaha, Nebraska. The company has gained the trust and reputation of the market since its formal launch in 1983. It is one of the most transparent online brokers with a massive presence in the US money market.

The company is a member of the Financial Industry Regulation Authority and Securities Investor Protection Corporation. It strictly adheres to all regulatory and auditory compliances. Its brand’s trust is backed by a strong Security Policy. The Privacy Policy is transparent but the company does share your personal information with its marketing channels and affiliate partners. Notably, TD AmeriTrade has an Asset Protection Guarantee that promises reimbursement of securities in case of fraud.

Learning with TD AmeriTrade

TD AmeriTrade has a robust catalogue of educational content for every kind of trader. There is a comprehensive curriculum on technical and fundamental analysis that is supported by more than 200 video sessions and personalized interactions with Investment Specialists. Regular webcasts and seminars are also organised for the traders.

The content is available on the ThinkorSwim platform and also on the mobile app of TD AmeriTrade. Moreover, TD AmeriTrade provides third party investment research for free from Analytics Morningstar, CFRA (formerly S&P Capital IQ), TheStreet and Marketedge®.

Pricing on TD AmeriTrade

TD AmeriTrade offers a fixed pricing on per online equity trade. There are no annual account maintenance fees so you only pay when you trade. Trading on equity attracts a flat commission while options trading is priced on lot size.

Investment Products at TD Ameritrade

  • Stocks: TD AmeriTrade gives you access to all the tickers on the US stock market. Scan through the market with state-of-the-art analytics on ThinkorSwim platform or the classic web version. You can customize your charts, browse through third-party research, and also test your strategies with dummy trades on paperMoney®.
  • Options: A wide market is available for traders with a variety of different value-added products like the Sizzle Indicator, Options Probabilities, and Analyze Tabs. The brand also provides a free 30-minutes consultation service to its users to fine-tune your charts according to your trading style. You can opt in to TradeWise and AutoTrade, which are two powerful tools to automate your trades according to pre-set strategies.
  • ETFs: ETFs are a major product of TD AmeriTrade. Users can access a range of investments tools like Market Centre, Market Edge (ETF Analytics and Charting), Social Signals, Screeners, CD Centre, Bond Wizard, and Market Java (daily monitoring tool with lots of available customizations).
  • Mutual Funds: There are more than 13000 Mutual Funds to choose from and TD AmeriTrade gives you the right tools to get you the most meaningful fund. Mutual Funds are equipped with a holistic MF Toolbox that includes Parameter-based Mutual Fund Screeners, Compare Funds, Focus List, Funds Family, Category Listing, Morningstar Instant X-RaySM, and Fund Profiles.
  • Futures: The futures market of TD AmeriTrade allows 70 different futures products that can be trader 24 hours a day, 6 days a week. These include Interest Rates, Metals, Currency, Agriculture Products, Stock Index, Energy, Softs, Forest, and Live Stock. There is a ton of information, both educational and real time market news that can help trader gain an edge. Future Trading in TD AmeriTrade can be done through the ThinkorSwim platform, Mobile Trading App, and the classic desktop version. The Micro E-mini Index Futures is an innovative platform for beginner traders and features low margins, attractive cost of entries, diversified risks, and greater flexibility in terms of exit conditions. A new bitcoin-futures trading is also available after a recent update.
  • Forex: TD Ameritrade has an in-depth coverage of the currency market that incorporates all major fiat currencies of the world. The currency list includes Australian Dollar, Canadian Dollar, Swiss Franc, Czech Koruna, Danish Krone, Euro, Pound Sterling, Hong Kong Dollar, Hungarian Forint, New Israeli Shekel, Japanese Yen, Mexican New Peso, Norwegian Kroner, New Zealand Dollar, Polish Zloty, Romanian Lei, Saudi Arabian Riyal, Swedish Krona, Singapore Dollar, Thai Baht, Turkish Lira, U.S. Dollar, and South African Rand. Users can access all technology products like ThinkorSwim, Paper Trade, and other Scanner tools apart from the classic charts and indicators.
  • Managed Portfolios: TD Ameritrade allows great flexibility when it comes to choosing the right portfolio. You can choose from goal-oriented portfolios, and even make strategic shifts without paying extra. A range of rebalancing options make the Managed Portfolio System of TD Ameritrade a middle ground between direct investment and mutual funds investments. Your personalised portfolio is just a phone call away as TD Ameritrade promises to assists its users in choosing individualized investments.
  • Cash Management: TD AmeriTrade offers cash management services through which you can deposit your cash in Insured Deposit Account (IDA) of partnered banks. You can use your floating cash to pay bills. TD AmeriTrade also pays interest on the floating cash of its users’ accounts. You can save on your daily ATM withdrawal charges through the TD AmeriTrade debit card that is powered by VISA. Users can also earn points and redeem them for flexible reward choices that include cashbacks, merchandise, and gift cards.
  • Bonds and CDs: TD AmeriTrade has a wealth of fixed-income plans that are best suited for post-retirement investments. The Bond Wizard will help your scan through 40,000 bond-based investment offerings from over 100 operators, 3,000+ bond mutual funds, and over 400 bond ETFs. You can also invest in FDIC-insured CDs through TD AmeriTrade.
  • Annuities: The most secure investment plans of TD AmeriTrade are its fixed income annuities. It guarantees you an income for life, tax benefits, and flexible exit conditions. Four different annuity plans are available; Single Premium Immediate Annuity, Deferred Income Annuity, Fixed Deferred Annuity, and Variable Annuity with Optional GLWB (Guaranteed Lifetime Withdrawal Benefit) Benefit.
  • Dividend Reinvestment: A value added product that is designed for long-term investors who invest in low-risk, blue-chip, companies. Over 5000 different stocks and mutual funds are available for this program. No extra commission is charged for this plan.

Data Providers of TD AmeriTrade include:

  1. 10PercentPerMonth
  2. Big Trends
  3. MT Options
  4. OptionRun
  5. 5PercentPerWeek
  6. CycleSpreads
  7. MonsterTrades.com
  8. OptionsAlarm
  9. Investors Observer
  10. MonthlyCashThruOptions
  11. Option Principal
  12. Terrys Tips***
  13. MTGlobal Trader

Banking in TD AmeriTrade

Banking is very straightforward in TD AmeriTrade. The brand is very professional when it comes to banking. Users can deposit/withdraw funds through Electronic Bank Deposit (ACH) ($50 – $250,000), Wire Transfer (No Limits), Check (No Limits), and Mobile-based electronic transfers (Deposits up to $10,000, No Withdrawal).

You can also transfer your securities from other exchanges through External Securities Transfer or covert your Physical Stock Certificates to online with a TD AmeriTrade account.

TD AmeriTrade Review: Final Thoughts

ApprovedTD AmeriTrade is at the top of its trade. It is very close to the investment utopia for the technologically-savvy investor/trader. The brand has completed a wide range of investment products with the recent inclusion of cryptocurrency trading and is at par with most reputed online brokers like E*Trade, Fidelity, and Schwab. In some select parameters, TD AmeriTrade outruns its competitors by a wide margin.

However, the platform is pretty closed in terms of social trading and forum-based communications between its users. It’s a sad loss for the community that comprises of 11 million global users. We recommend TD AmeriTrade for the new-age investors and traders for its advanced inhouse charting technology and innovative tools like Social Sentiment, Event Alerts, Options Stastistics, ThinkorSwim, PaperTrade, Scanners, 25/5 Trading, Risk-Reward Predictions, and more.

Is this your final decision?

We suggest you visit one of the popular trading platforms instead!

 

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General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Pros

  • No Social Aspect
  • Banking is a Bit Limited

Cons

  • Some clients have complained of poor customer support over email.
  • Trading fee is on the high side, especially when you don’t trade frequently
  • There are no customisation options available at this time.

7 Binary Options review: TD AmeriTrade: 4 stars

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