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TD Ameritrade Review

About Ameritrade:       

Set up in 1975. First Omaha Securities, Inc. opens as a discount brokerage firm (later named First National Brokerage Services, Inc. and then Accutrade, Inc. Currently, Accutrade is a division of TD Ameritrade, Inc.).

Brokerage Ratings:

  • Overall: Exceptional
  • Commissions & Fees: Below Average
  • Customer Service: Exceptional
  • Tools & Research: Exceptional
  • Ease of Use: Exceptional
  • Investment Offering: Exceptional
  • Education and Research: Above Average
  • Mobile Trading: Exceptional

Trade Commissions:

  • Equity Trades $9.99
  • Options Fee $9.99
  • Options Contract $0.75
  • Mutual Fund $49.99
  • Broker Assisted $44.99
  • Minimum Deposit $2,500.00

Highlights on Ameritrade

  • Trade free for 30 days and receive up to $500 cash with any new account.
  • Gain access to over 100 commission free ETFs.
  • Investment research from S&P, Morningstar Associates, and Minyanville.
  • TD AMERITRADE’s online tools can help you evaluate mutual funds, Exchange Traded Funds (ETFs) and many other kinds of investment possibilities.
  • TD AMERITRADE clients can find Standard & Poor’s screens
    • Best 10
    • Power- Picks and
    • three-, four- and five-star ratings to narrow the field of covered-call  possibilities.

Account Features

  • Virtual Trading
  • No Maintenance Fees
  • No-Fee IRAs
  • Online Trader Community
  • Investment Education

Mobile Trading

  • iPhone App
  • iPad App
  • BlackBerry App
  • Android App
  • Mobile Site

Customer Service

  • Phone Support
  • Email Support
  • Live Chat Support
  • Retail Locations
  • 24/7 Customer Support

Trade Options available

  • Stock Trading
  • Options Trading
  • Mutual Funds
  • FOREX Trading
  • Futures Trading

Specially recommended for investors:

  • Long Term Trading
  • Options Trading
  • Active Trading
  • International Trading

Online Account Application

All that you need for setting up an account:

  • About 12-15 minutes to complete the application
  • Social Security Number or Individual Taxpayer Identification Number
  • Employer’s name and address
  • Banking information (electronic funding)
  • Beneficiary Social Security Number (for IRAs only)
  • Beneficiary address (for IRAs only)

Accounts offered at Ameritrade

  • Individual & Joint Accounts
    • Trade stocks, options and 100+ commission-free ETFs
    • Get access to more than 13,000 mutual funds from leading fund families
    • Trade futures and forex on the thinkorswim from TD Ameritrade platform
    • Access a broad range of fixed-income investments including bonds & CDs
  • Retirement Accounts
    • Find the Traditional IRA, Roth IRA, or Rollover IRA that will help you pursue your goals.
    • Get free help from a TD Ameritrade Chartered Retirement Planning CounselorSM.
    • Explore the Retirement Center for investment strategies you can use at every stage of life.

Education & Specialty Accounts

  • Make an informed decision about 529 College Savings Plans, Coverdell Education Savings Accounts and custodial accounts.
  • Access investment accounts for business Partnerships, Limited Partnerships, LLCs and Corporations.
  • Transfer assets to one or more recipients through TD Ameritrade’s legally established taxable living, revocable, irrevocable and testamentary trusts.

Investment Products offered

Stock Trading

  • Invest on any stock at the comfort of your home.
  • Experience the speed and exceptional performance of the trading platform

Options Trading

  • Pursue your options trading strategies with low commissions and contract fees, fast order entry, even on multilegged orders, and a variety of ways to track your holdings.

Futures Trading

  • Access investments including
    • Oil and energy,
    • Gold and
    • Other metals,
    • Interest rates,
    • Indexes,
    • Grains,
    • Livestock,
    • Currencies, and more.
  • Be aware to market conditions and economic events nearly 24 hours a day, 6 days a week with live quotes

Forex Trading

  • Learn how to add currency trading to your investment strategy.
  • Trade more than 100 currency pairs on the thinkorswim platform or your mobile device.

Mutual Fund Trading

  • Access to more than 13,000 mutual funds from leading fund families

ETF Trading

  • Diversify your portfolio with 100+ commission-free ETFs selected by Morningstar Associates and offered by TD Ameritrade, as well as valuable resources to help you find ETFs that align with your investment strategy.

Fixed-Income Investments Including Bonds & CDs

  • Reduce risk in your investment plan with a broad range of fixed-income vehicles designed to provide steady income over time.
  • You’ll also have access to an investment professional who can help you find a fixed-income solution tailored to your goals.

Amazing Tools with Ameritrade

SnapTicket

  • Save time and place orders more conveniently with this detachable order-entry tool. You can more easily seize market opportunities by being able to place orders anywhere on the Web.
  • Buy stock online quickly, as well as options and ETFs, and get real-time streaming stock quotes using SnapTicket
  • Trade with flexibility
  • Trade quickly
    Access key information (stock quote and last price, plus the micro chart)
  • Best of all – SnapTicket is free

Order Types

You can choose from a multitude of order types that can help you automate your entry and exit strategies

Help protect gains while limiting losses and respond quickly to changing market conditions.

  • Automate orders
  • Automatically enter orders for you, in your account, based on market conditions you specify.
  • Choose from stop markets, stop limits, trailing stops and conditional orders.
  • Help protect gains while limiting losses
  • Automate your entry and exit strategies
  • Use market conditions to your advantage

Trade Triggers

  • Set trade alerts and orders with Trade Triggers
  • Automated trading and alerts
  • Maximum flexibility
  • Trade Triggers is freeTrade. You can trade even when you’re away from your computer with prep-rogrammed trades. Just define a market condition in advance, and when that condition happens, your trade is automatically entered into your account.

Order Execution

Your orders are routed through proprietary routing technology which dynamically sends orders to different market centers that seek to fill your order quickly and at the best available price.

  • Working to get you the quoted price or better
  • Taking action for you
  • Routing your orders aggressively

Research and Ideas Tools available for all:

  • Markets
  • Stocks
  • Options
  • Mutual Funds
  • ETFs
  • Bonds & CDs
  • IPOs
  • Alerts
  • Charts
  • Screeners -
    • Stock Screener
    • Options Screener
    • Mutual Fund Screener
    • ETF
    • Also get access to Pre-Defined Screens
  • Ideas – Get access to third party ideas on investing

A plethora of Online Trading Tools

  • Alerts
  • Analytical Option Chains
  • Customizable charts
  • Conditional Orders
  • Fundamentals – Balance sheets, income statements and cash flow information
  • Market Edge – Weekly web cast to give you market insights
  • Market Motion Detector
  • Mobile Trading
  • Options Exposure
  • QuoteScope – Get real-time liquidity information
  • S&P Reports
  • Screeners
  • SnapTicket
  • thinkorswim platform – Free professional-level trading tools
  • Trade Architect – Customize your screen with real-time quotes, heat map,
  • Live-streaming CNBC, etc
  • Trade Triggers
  • Trailing Stops

Bottomline

TD Ameritrade is more expensive than its other discount brokers but provides with a exceptional overall platform offering, excellent and knowledgeble customer service, and as you would have notices is an industry leader in product innovation.

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