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TD Ameritrade review 2023

Leverage TD Ameritrade's free premium research and analysis tools and its popular Thinkorswim trading platform to trade stocks, bonds, options and more.

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By

Matt Miczulski

&

Shannon Terrell

Updated

Fact checked

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Our verdict

Consider TD Ameritrade if you want a comprehensive investing platform where stock trades are free, educational resources are ample and a powerful, professional-grade trading platform awaits. Look elsewhere if you're looking for the ability to trade fractional shares or cryptocurrency.

Best for: Beginner to advanced traders and investors.

Pros
  • Vast selection of tradable assets
  • Top-tier research tools and educational resources
  • Multiple high-quality trading platforms
Cons
  • No cryptocurrency trading
  • No fractional shares
4.4

★★★★★

Finder rating

Learn more

Stock trade fee

$0

Minimum deposit

$0

How we rated TD Ameritrade’s features

Fees

★★★★

No commissions on stocks and fees are fair for other securities.
Available securities

★★★★★

Most securities, except cryptocurrency.
Customer support

★★★★★

Five ways to contact customer support.
Mobile app

★★★★★

The app gets high marks in the Apple App Store but Google users report app freezes.
Research and tools

★★★★★

A comprehensive suite of research, educational and analytics tools are available.
Reliability

★★★★★

One major outage has been reported.
Bonus star

★★★★★

We awarded a bonus star for access to paper trading.

To learn how our star ratings are calculated, read our methodology at the bottom of the page.

TD Ameritrade is best for intermediate to advanced traders and investors

But beginners shouldn’t shy away. With its commission-free stock trades, extensive collection of tradable assets and educational resources and its professional-grade trading platform, TD Ameritrade is both accessible and dynamic. Beginners will find plenty of room and support to learn and grow, while experienced traders and investors can flourish with TD Ameritrade‘s suite of elite tools.

What you can trade on TD Ameritrade

  • Stock
  • Bonds
  • Options
  • Mutual funds
  • ETFs
  • CDs
  • Futures
  • Forex

Account types available with TD Ameritrade

  • Brokerage
  • Retirement
  • Education
  • Custodial
  • Specialty

Where TD Ameritrade shines

As one of the biggest brokers in the US, TD Ameritrade is rich with features and capabilities. Its free research selection is one of the best on the market, driven by its TipRanks integration and extensive third-party research from highly reputable sources. Its web and mobile platform is clean and intuitive with tools and resources suitable for any type of investor, while its Thinkorswim trading platform offers elite level tools for serious traders. You’ll find most securities are available for trading, including nonlisted OTC Bulletin Board and Pink Sheet stocks, and account types include everything from individual brokerage accounts to retirement accounts to custodial accounts.

Where TD Ameritrade falls short

Unlike many other brokers, TD Ameritrade doesn’t offer fractional share trading or direct access to crytpo. Some miscellaneous fees, like its $38 mandatory reorganization fee, which applies if a stock you own goes through a reverse stock split, are also slightly higher than the competition.

TD Ameritrade accounts to move to Charles Schwab in 2023

Following its 2019 acquisition, TD Ameritrade accounts will begin to move to Charles Schwab in 2023. According to TD Ameritrade, accounts will move automatically. Thinkorswim will also move to Charles Schwab at some point in 2023.

TD Ameritrade’s fees

Minimum deposit to open$0
Annual fee$0
Stock trading fee$0
Options trading fee$0.65 per contract
Futures trading fee$2.25 per contract
No-load mutual fund trading fee$49.95
Mandatory reorganization fee$38
Account transfer fee$75

Is TD Ameritrade legit?

Yes, TD Ameritrade is a legitimate broker. The company was founded in 1975 and was acquired by Charles Schwab in 2019.

TD Ameritrade is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which protects securities for customers up to $500,000 or $250,000 for claims for cash. The company also provides every customer with $149.5 million protection for securities and $2 million protection for cash through supplemental coverage in the event of insolvency.

TD Ameritrade’s platform offers extensive trading and analysis tools

TD Ameritrade offers two trading platforms: its classic TD Ameritrade platform and Thinkorswim, each with its own web and mobile versions.

Classic TD Ameritrade

The classic TD Ameritrade web and mobile platforms feature a clean design and straightforward navigation, allowing you to view your portfolio, research investments and make investments with ease. While it prioritizes usability, these platforms are packed with more than enough features to satisfy average investors. You’ll find:

  • Screeners
  • Watchlists
  • Price alerts
  • Market news and real-time data
  • Third-party research
  • Basic charts
  • A comprehensive education center

TD Ameritrade app introduction

Thinkorswim

Thinkorswim is TD Ameritrade’s professional-grade trading platform, and it’s designed for advanced equity, options, ETFs, futures and forex traders.

Traders will find powerful research and analytical tools, and can:

  • Trade stocks, futures, forex and multi-leg options
  • Practice trading using virtual money via a paper trading component
  • Create multitouch charts with hundreds of indicators
  • Build order execution and testing algorithms
  • Get a beta-weighted analysis of theoretical moves based on underlying stocks, indices or futures
  • Access TD Ameritrade Network’s market insights
  • Monitor positions and how they trend over time
  • Access stock screeners and other tools

More streamlined versions of Thinkorswim are available on the web and via mobile app, which prioritize the most critical trading tools but still offer power unlike most other platforms on the market.

TD Ameritrade’s app store reviews

Google Play app reviews3.7/5 stars based on over 14,150 reviews
Apple App Store app reviews4.5/5 stars based on over 119,700 reviews

TD Ameritrade’s customer support

Connect with TD Ameritrade customer support in five ways:

  • Live chat
  • Phone
  • Secure message
  • In person
  • Social media

    How to open an account with TD Ameritrade

    1. Click the “Sign up now” button below and select Open new account.
    2. Select an account type.
    3. Complete the application by entering your personal and financial information.
    4. Review your information, and agree to the terms and conditions.
    5. Configure your user ID and password to make an account.

    Eligibility and required information

    • At least 18 years old
    • Valid Social Security number
    • Valid residential address
    • Valid government-issued ID
    • While there’s no minimum to open an account, a $2,000 deposit is needed to be considered for margin and options privileges.

    How safe is TD Ameritrade?

    TD Ameritrade‘s platform is considered safe and secure. Its website uses 128-bit encryption with advanced firewalls and employs anomaly detection and intrusion detection technology to monitor account activity.

    Compare TD Ameritrade to other platforms

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    Stock trade fee

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    Minimum deposit

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    Minimum deposit

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    Frequently asked questions about TD Ameritrade

    How we rate trading platforms

    ★★★★★ 5/5 — Excellent

    ★★★★★ 4/5 — Good

    ★★★★★ 3/5 — Average

    ★★★★★ 2/5 — Subpar

    ★★★★★ 1/5 — Poor

    We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

    For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.

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