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Risk Warning: Your capital is at risk. Statistically, 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

3.2
/ 5

TD Ameritrade review

Updated on Sep 13, 2024
|
10 mins read

Overview

Introduction TD Ameritrade is a popular online brokerage firm that offers a diverse range of trading products and services, including forex trading. The platform, known as TD Ameritrade...
See full overview for TD Ameritrade
Countries
Minimum deposit
$0
Withdrawal fee
$0
Deposit fee
$0
Max insured
$900,000
Our Verdict
3.2
/ 5
Commissions & Fees
3.9
/ 5
Deposit & Withdrawal
1.8
/ 5
Customer Support
1.8
/ 5
Account Opening
4.2
/ 5
Regulation & Safety
4.5
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Wide Range of Assets: TD Ameritrade offers a wide range of financial products, including stocks, options, mutual funds, ETFs, bonds, futures, and forex, allowing investors to diversify their portfolios.

  • User-Friendly Platforms: TD Ameritrade offers user-friendly platforms, such as thinkorswim and the TD Ameritrade website, which are easy to navigate and provide various tools for investors.

  • Research and Education: TD Ameritrade provides investors with various research and education resources, including webinars, articles, and market analysis tools.

  • Customer Support: TD Ameritrade offers excellent customer support, with phone, email, live chat, and mail options available.

Cons

  • High Fees: TD Ameritrade’s commission rates can be high compared to other online brokers, especially for options trading.

  • Limited Availability: TD Ameritrade is only available in a few countries, which may limit its accessibility for some investors.

  • Inactivity Fees: TD Ameritrade charges inactivity fees if an account has been inactive for a certain period, which can be frustrating for some investors.

  • No Fractional Shares: TD Ameritrade does not offer fractional shares, which may be a disadvantage for investors looking to diversify their portfolio with smaller investments.

General details

Type of accounts
Standard Accounts
Segregated accounts
Unlimited Demo Accounts
Execution Model
DMA
Deposit currency
USD
EUR
CAD
GBP
AUD
SGD
JPY
HKD
Regulatory complience
FINRA
SIPC
CFTC
NFA
OCC
FDIC
NYDFS
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Spanish
Chinese
Vietnamese
Autotrading
Contact details
[email protected] +1800-669-3900

Customer reviews

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Accounts

TD Ameritrade offers a variety of trading accounts, including demo accounts, standard accounts, retirement accounts, margin trading accounts, and education accounts, which are designed to help users learn and practice trading skills:

  • Demo Account: TD Ameritrade offers a practice account that allows traders to test their strategies and get familiar with the trading platform without risking real money. This account has virtual funds, so traders can practice trading in a simulated environment.

  • Standard Account: This is the basic trading account that allows traders to trade a wide range of assets, including stocks, options, ETFs, mutual funds, bonds, and more. To open a standard account, traders need to meet the TD Ameritrade Forex minimum deposit requirement and complete the registration process.

  • Retirement Accounts: TD Ameritrade offers various retirement accounts, including Traditional IRA, Roth IRA, SEP IRA, Simple IRA, and 401(k) rollover. These accounts are designed to help traders save for their retirement and offer tax advantages.

  • Education Accounts: TD Ameritrade offers 529 college savings plans, Coverdell education savings accounts, and custodial accounts for minors. These accounts allow traders to save for their children’s education expenses and offer tax advantages.

  • Specialty Accounts: TD Ameritrade offers specialized accounts for trust and estate planning and small businesses. These accounts are designed to meet these types of clients’ unique needs.

  • Margin Trading: TD Ameritrade allows traders to trade on margin, which means they can borrow funds from the broker to increase their buying power. Margin trading involves higher risks, and traders need to meet certain requirements to be eligible for margin trading.

  • Segregated Accounts: TD Ameritrade offers segregated accounts for traders who want to separate their funds from the broker’s funds. This provides an extra layer of protection in case the broker goes bankrupt. However, segregated accounts may come with additional fees.

Tradable instruments

TD Ameritrade provides a robust selection of assets, including futures and ETFs on a range of commodities, indices, currencies, and cryptocurrency futures.

Commodities
60
Currencies
70
Cryptocurrencies
1
ETF
2.000
Indices
20
Stocks
4.000
Bonds
40.000
Options
40

Frequently asked questions

Find the right answer to your question below:

Can beginners use TD Ameritrade for trading?

Yes, TD Ameritrade offers educational resources and a user-friendly platform that can be helpful for beginners. The platform offers a variety of trading instruments, including forex, and has a demo account option for users to practice trading before committing to real funds.

How can I open a TD Ameritrade Forex trading account?

To open a forex trading account with TD Ameritrade, visit their website and click on the “Open New Account” button. From there, select the account type you want to open, provide personal information, and answer a few questions about your trading experience and financial situation. You will also need to provide identification and fund your account to start trading.

TD Ameritrade compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
TD Ameritrade
  • Variety of Trading Instruments
  • Advanced Trading Tools
  • Retirement Planning
  • Investment Research
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  • FINRA, CFTC, NFA
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OANDA
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  • CFTC, NFA
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  • 4.1
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  • FINRA, ASIC, CYSEC, FCA,
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  • 3.8
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  • 100$
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  • 4.1
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  • N/A
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  • 4
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  • FSP
  • Yes
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