TDAmeritrade Reviews

TDAmeritrade Reviews

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Overall Rating4.

TDAmeritrade is one of the largest online brokerages in the U.S. The company allows their customers to trade Stocks, Options, Bonds, ETFs, Futures, Forex and more. The company was founded back in 1971 and has been in the financial services business for over 35 years. TDAmeritrade offers a powerful back-end trading platform as well as a professionally developed downloadable trading platform. The brokerage appeals to both novice investors and professional traders alike.

TDAmeritrade Commissions

  • Stocks / ETFs: $9.99 (Broker-assisted trades $44.99)
  • Mutual Funds: $49.99. Some mutual funds have $0.00 commission
  • Options: $9.99 + $0.75 per contract (Broker-assisted trades at $49.99 + $0.75 per contract)
  • Bonds: based on net yield basis. $25 flat fee for treasuries at auction
  • Futures: $3.50 per contract
  • Forex: No commission on currency pairs that trade in 10,000 Units. Other currency pairs have a minimum $1 commission but can go higher.

TDAmeritrade Features

  • Fast trade execution
  • Tons of free educational material
  • Top notch customer service with 24/7 phone support
  • Very Powerful professional level free trading tools
  • Forex trading with access to over 100 different currency pairs with 50:1 margin
  • Mobile trading support on smart phones
  • Over 100 local branches

TDAmeritrade Promotions:

  • Trade commission-Free for 30 days + Get up to $500 when opening a new non-IRA account.

TDAmeritrade Minimum Deposit to open an account: $2,500


User Reviews

  • Omer says:

    I’ve used quite a few online brokers over the years and even though TDAmeritrade doesn’t have the “BEST” rates, I still use them for my IRA. Why? Because they’ve been around for over 30 years and have over 6 million clients. They’re one of the most trusted online brokers out there. I don’t trade optiosn with them because their fees are a lot higher than OptionsHouse and TradeMonster, but they have reasonable rates on everything else. They recently added Forex and Futures to their offerings, which is nice. Being able to trade everything from one account is ideal.

    I took off 2 points for commissions & fees because their rates aren’t the best. $9.99 for each internet trade used to be really good, but nowadays you can get a better rate from almost any other broker. I took off a point for “features” because even though they offer options trading and some of the more advanced investment products, they have strict approval guidelines. They won’t approve customers to trade options unless they have YEARS of experience and can prove their income. I don’t know why they make their customers jump through these hoops just to be able to trade options, when other brokers don’t. I had one terrible experience with them where they refused to approve my new account for options trading (I made a new account when I moved to a different state). They wanted me to fax them proof of my income even though my last account with them was approved for options trading. I didn’t have a fax machine so i didn’t bother to argue with them. I wasn’t going to trade options actively anyway.

    Overall 4 stars is fair. TDAmeritrade has been around for a long time and I still trust them with my retirement account. They have an easy to use website and offer tons of resources to new investors. Their bonds / CDs / fixed income section is superb too.

  • John says:

    I’ve been with Ameritrade since before added the ‘TD’ and have always been satisfied with the service. They were one of the cheapest discount brokers back then, but many newer brokers have started undercutting them.

    The commission fees are now in the high end of the spectrum, but TD Ameritrade has continuously been adding new features. For example, its now possible to trade commodity futures & forex with them. The website is easy to navigate, and there are a lot of trading tools available.

    The downloadable ‘thinkorswim’ trading platform is meant for the advanced trader. There are a lot of charts and graphs for technical traders to play with, but I stick with the simple browser based trading system. TD Ameritrade also handles retirement accounts, college savings accounts, bonds, CDs, and other fixed income assets. As one of the largest online brokers, TD Ameritrade has broad appeal and is a long, proven history.

  • Tachyon says:

    I’m not a professional trader by any stretch, but I do like to day trade during the summer months when I’m off from school. I started using TDAmeritrade back when they were just Ameritrade (before they bought TDWaterhouse) and I have to say that the company is moving in the right direction. The new ThinkorSwim trading platform is extremely powerful. I’ve always wanted to try my hand at Futures trading, and now that Ameritrade offers it, I can do it all from one account.

    Just one warning for those interested in options / futures / forex trading. Their compliance department is a bit of a hassle to deal with. They won’t approve your account to trade on margin or with options unless you can prove your income. Why on earth do they care about my income? I have no idea. My only complaint with Ameritrade is their high fees. $9.99 a trade adds up when you’re trading several times a day.

  • BondBULL says:

    Customer Service – 24/7 phone support hard to beat.

    Comissions & Fees – I haven’t used any other broker except ameritrade, but based on some of the ads i’ve seen, the fees on Ameritrade are pretty high. $10 per internet trade isn’t bad (especially since you get a months worth of free trades when signing up) but other companies have better rates

    Features – How many other brokers let you trade stocks, options, bonds, futures and forex all on one account? I just wish they also supported commodities trading.

    Trade execution – no complaint here. My orders get filled in a timely fashion. Plus Ameritrade makes sure my limit orders go through at the best possible price.

    Website / Platform – they have a ton of trading tools and educational stuffs. They don’t give everyone free Level 2 quotes though which is a bit bleh.

    Overall – I haven’t used any other brokers but Ameritrade, but so far I’m still pretty happy with them.

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