Top 5 TD Ameritrade competitors

• Fractional share trading
• No-fee automated investing
• Crypto trading

Like other discount brokers, SoFi lets you trade stocks and ETFs commission-free, and there are no account minimums to get started. SoFi also offers an automated investing account, or robo-advisor, with no annual management fee and just a $1 minimum investment. As we mentioned earlier, investors who stick with TD Ameritrade through the integration will need to pay $5,000 to use Charles Schwab's robo-advisory service.
While SoFi falls short when it comes to investment options compared to TD Ameritrade — SoFi doesn't offer options trading, futures, forex or mutual funds — it does offer exposure to cryptocurrency, something TD does not. SoFi investors can buy and sell Bitcoin, Ethereum and over 20 other coins with just $10.

• Commission-free stocks, ETFs, options and crypto
• User-friendly interface
• Fractional-share trading

While commission-free trading is commonplace, there's a reason investors have stuck around with Robinhood: it's easy. Instant deposits give investors immediate cash to invest and fractional shares let investors buy stocks and crypto with as little as $1. To compare, an impressive 22.8 million people used Robinhood as of spring 2022, compared to TD Ameritrade's 11 million.
Those looking for margin investing, more in-depth research and Level II market data can subscribe to Robinhood Gold for $5 per month. But active traders won't find the most sophisticated research tools, like advanced stock screeners and charting. And investors won't have access to securities like mutual funds, forex and precious metals.

• Fractional share trading
• Robust research tools
• No minimum and expense-ratio-free index funds

While TD Ameritrade offers numerous low-cost funds, Fidelity Investments takes it a step further by offering several no expense ratio and no minimum mutual index funds. Fidelity also offers fractional share trading — something TD Ameritrade customers won't get until their account moves to Charles Schwab. However, like TD Ameritrade, Fidelity doesn't offer direct access to cryptocurrency.
Fidelity clients can invest on their own or open an account with Fidelity Go, the firm's robo-advisor. TD Ameritrade clients will have access to Schwab's robo-advisor after the merger, but it requires a $5,000 minimum deposit. Fidelity Go lets you get started with $10, and the management fee is waived for accounts holding less than $10,000.
Those used to TD Ameritrade's excellent research capabilities should be pleased with Fidelity's library of research tools, including stock screeners with more than 140 criteria and access to more than a dozen third-party research providers, including Recognia, Refinitiv and McLean Capital Management.

• Advanced traders
• Investors who want access to global markets
• Investors who want access to a wide variety of securities

IB offers a variety of advanced research tools and investment options, making it a solid choice for advanced traders and investors looking to expand their portfolios. You can also place more than 100 different order types and access complex trading algorithms.
CSFB Crossfinder+, for example, identifies liquidity among independent and broker-owned dark pools while offering continuous crossing capabilities. According to its website, CrossFinder+ will spread your order over multiple destinations and fill at the midpoint or better.
IB should give the experienced, active investor much to tinker with, which should feel familiar to TD Ameritrade customers or customers coming from other advanced trading platforms. But depending on your skill level, some features may be overwhelming. IB's fee structure for its Pro level can also be complex. Beginners may be interested in the broker's IB Lite platform, which offers commission-free trading on US-listed stocks and ETFs.

• Its large selection of quality ETFs and mutual funds
• Its long-term investment options
• Its low-fee index funds

As a leader in low-cost investing, Vanguard is an ideal choice for the buy-and-hold investor. But active traders can also benefit from commission-free stock trading.
Those saving for retirement will find a selection of more than 160 no-transaction-fee mutual funds from Vanguard and other companies and thousands of commission-free ETFs. The most passive investors can use Vanguard's digital advisor when their account reaches $3,000. Long-term investors with an eligible 401(k) retirement account can enroll with as little as $5. Vanguard charges 0.20% in advisory fees for its robo-advisory services.
But active investors may want more out of Vanguard, which lacks the research tools offered by TD Ameritrade and other competitors.