TD Ameritrade review (2021) Review

TD Ameritrade is one of the larger online brokers in the U.S. and was established in 1975. It is regulated by the Securities and Exchange Commission (SEC) and others. It offers a demo account and a live account without any deposit. In 2021, TD Ameritrade was Best in Class for its Platform and Tools, Research and Mobile Trading and offers commission-free trading.

main webpage

TD Ameritrade instruments

You can trade many asset classes, like stocks, ETF`s, cryptocurrencies, forex, futures etc. They also have a managed portfolio (or Robo) service and goal-based automatic investment solution portfolios. They offer several accounts from Individual, where you can invest in stocks, bonds, ETFs, and mutual funds, and apply to trade options, futures, and forex, to UTMA/UGMA. This account allows beneficiaries to use the assets as they wish when they reach the designated age. If you`re not sure what to go for, you can fill in a small form and based on your needs they`ll offer the right account for you. I would still prefer to see all accounts laid out in some table or infographic to compare.

many different account to choose from

Regulation

The broker is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), the Hong Kong Securities and Futures Commission, and the Monetary Authority of Singapore (MAS). This information isn`t well shown on their website, but they offer to check the background on FINRA`s BrokerCheck.

TD Ameritrade is doing business for a long time

 

TD Ameritrade demo account

One of the best education tools is a demo account. You can learn new skills, test the platform, find tools and then test your skills without risking. Demo account usually comes with virtual funds and they are free of charge. Looks like TD Ameritrade, don’t offer a demo account on their website. It’s not highlighted, so I spent a lot of time, going through loads of information and clicking through links. I also tried to register for a normal individual account, but no option for me to find a demo. So, I am very disappointed with the fact, I can`t try their platforms, their trading.

Broker fees

TD Ameritrade offers free stock and ETF trading, but forex, bond and options fees are paid but low and it charges high fees for futures. They offer $0 commissions on online stock, ETF, and options trades for all new and existing clients.

 

Unussual 0 deposit

 

Registration process

I was unable to try to register because as a beginner I want to try and learn before I go live.

 

Trading platforms

They offer trading platforms for web, mobile and desktop. The web platform is suitable for trading execution and research on investment products, like stocks and ETFs. If you wish to go for more complex trading, you can try the TD Ameritrade platform Thinkorswim. It offers more products such as forex and futures and has a wide trading tool selection.

TD Ameritrade website

My first impression wasn`t very good. Lots of text, all sorts of sizes and I couldn`t find a lot of information anyway. Information overload, I`d say. In the top pane you can choose from the menu:

  • Why TD Ameritrade
  • Tools and Platforms
  • Investment products
  • Guidance
  • Retirement
  • Education
  • Research

After clicking on an option, other sub-options show on the left side of the page and I find this chaotic. There is no live chat, which would be cool, and to contact them, you need to call. So, customer service is a bit old-school. They offer great educational materials such as webcasts, Market News, articles, events and videos.

Social networks

They have active accounts on Twitter, Facebook and YouTube. Facebook is up to date; they post a couple of times a day. News, analysis and mottos. The same activity is with Twitter and YouTube is full of helpful videos.

 

FB profile is not too active

Advantages and disadvantages of TD Ameritrade

It is one of the biggest US online brokers and it charges no commission on stock and ETFs. Research and education are outstanding, and it’s said, that their Thinkorswim desktop platform is one of the best on the market. Shame I found nothing about a demo account and that their website is full of text. It charges high financing rates, and Robo-advice and managed portfolios are more expensive

 

Cons:

  • Robo-advice and managed portfolios are more expensive
  • Over texted web
  • No demo account
  • Poor contact

 

Pros:

  • Low trading fees
  • No minimum deposit
  • Many account types
  • Free withdrawal

 

Pros / Cons
  • Low trading fees
  • No minimum deposit
  • Many account types
  • Over texted web
  • Robo-advice and managed portfolios are more expensive
  • poor contact

It is one of the biggest US online brokers and it charges no commission on stock and ETFs. Research and education are outstanding.TD Ameritrade is one of the larger online brokers in the U.S. and was established in 1975.