TD Ameritrade

800-454-9272
200 S 108th Ave. Omaha, NE 68154-2631 United States

TD Ameritrade has a long history in the brokerage industry. You have probably heard of TD Ameritrade due to its famous television commercials. Actor Sam Waterston or Assistant District Attorney Jack McCoy from the Law & Order franchise is the company spokesman. They are not only accessible online, but you can visit one of the over 100 TD Ameritrade locations.

Founded in 1975, TD Ameritrade was originally named First Omaha Securities. With currently over 6 million customers in the United States, it is one of the largest online brokers.

TD Ameritrade has a number of great investment options, straightforward pricing, and solid investing tools, which makes them a good broker for all of the services provided. The no account minimum is a big selling point since so many brokers try to nickel and dime you with fees.

Opening a new account is pretty easy and doesn’t take a lot of time. You can fund it electronically and start buying and selling stocks the same day.

The customer service is top rate, and its good to know that you can always drop by a branch office if you have a question. If you are looking for the lowest cost brokerage house in the industry then look elsewhere. However, if you are looking for a broker that offers a good value for all of the investment tools that you need then TD Ameritrade may be right for you.

Founded in: 1971
Licensed: NFA ID: 0382533, FINRA, SIPC
Platforms: Web Platform, Trade Architect, thinkorswim, TD Ameritrade Mobile Trader App
Capital:
Fees:
Broker: 9.99
Exchange:
Withdrawal:
Minimum Deposit: 0

User Reviews

david_bernick

TD Ameritrade has THE most comprehensive and sophisticated plateform of all (Thinkorswim), which is simply a marvel of technology. From allowing you to backtest trades and strategies to beta weighing or even presenting a clear depiction of your probabilities on any given trades or on your total positions, the software is by far the most advanced in the industry. Paradoxically, TD Ameritrade is slowly becoming in my opinion one of the worst brokers out there. Let me explain through 3 points which I have empirically observed:
1/ Their customer service is getting worse and worse over time. If you want to reach them over the phone, the waiting time on average is between 15-20 mins. When you get someone on the line, it’s like they don’t even listen and are limit rude. It’s like they are conditioned to treat the clients a certain way. When you try to contact them for whatever matter via email, the waiting time before you get a reply (if you ever get one) is around 2 working days. And the replies are meager at best. For the commissions you pay, you would expect a better handle of customer relationship but it is far from being the case.
2/ They won’t have your back, quite the contrary they will charge you for bits and grits for whatever reason they deem necessary.
3/ Their fees aren’t competitive at all regardless of what they claim. Actually they’re one of the most expensive brokers out there. While I understand that building good technology costs money, I also think that customer relationships are equally important. Building good technology shouldn’t be put before good customer relationships because it’s with the customer that they ultimately do business with. What I’m saying is that they should balance things. But the way it’s happening right now is that even some deep discount brokers out there offer better customer support than TD Ameritrade and while they might not be able to fully invest in technology yet, they are slow gaining market shares because ultimately what people want is clarity and transparency in everything, especially when it comes to money.

mark

TD Ameritrade looks like one of the best discount brokers at the moment. The biggest advantage of TD Ameritrade is that they offer commission free ETFs for over 100 funds, and most of them are low cost being through iShares and Vanguard. This lets you build a great, diversified, low-cost portfolio without ever paying any commissions.

http://www.tdameritrade.com/trade/etflist.html

Jack

At first glance Ameritrade/TOS appears to be a robust trading and analytics platform that’s included with having an account at Ameritrade.

But let me cut right to the chase and say that if you’re an experienced trader who relies on filters and such tools to suss out potential trading opportunities then Ameritrade is absolutely not the platform to use.

Even worse, although they offer a relatively robust menu of such tools, what you eventually find out after dedicating countless hours to learning their archaic programming language is that it doesn’t even matter because they don’t have the bandwidth to provide real time updates on the most basic of indicators..like Average Volume and whatnot.

So, net net, you’ll have a really impressive looking setup but when the bell opens in the AM you’ll see glaring red codes like NAN(Not Available Now) and the ever present “loading”..which won’t resolve until at least 2 hours into the trading day

Can I accurately relay how frustrating this is?

No, I can’t!

And when I spent my valuable time chasing down the person in charge of such functionality he basically told me that “We’re aware of this issue but unfortunately our bandwidth is prioritized toward our algo, black-box and flash trading clients”

And there you have it..

Pass!!

JimPlace

Since the last time I looked the Market Motion Detector was nowhere to be found. Too bad, because the tool appeared effective to me. TDAM decided to replace it with other things that I don’t believe are nearly as useful.

FrankV

Guys, BEWARE OF TDAMERITRADE’s 0% INTERNATIONAL fee advertisement. Their debit card DOES NOT work in many countries, at ALL.

I am in Mexico, I recently opened an account with TD Ameritrade in anticipation of working in Mexico. I spent weeks trying to take out money at ATM’s here , in a huge city, not a small town, but kept getting weird errors like Funds not available or can’t communicate with bank. I spoke to 3 different service reps and wasted probably 15 hours of my time.

I finally spoke to Amanda Row , head of banking service. She told me that TD Ameritrade DOES NOT ALLOW ATM transactions in Mexico. I was convinced that this made no sense because the city I am in has 10 million people, that’s bigger than all but about 3 cities in the U.S. And this is a nice city, Maseratis and Mercedes cars, it’s not the middle of Mexico.

So this is weird, I CAN use the card to buy items via “credit” in stores and buy items “online” here but I cannot do ATM transactions transactions but then work for Online and In-person Non-verified Credit card purchases.
And why does no one know about this? Seems like completely False advertising, something that could probably be investigated by the Department of Justice. I have debit cards with Etrade, Bank of America, and Wells Fargo, all have worked fine in Mexico, no problems at all. Even smaller banks.

I wonder in what other countries the TD Ameritrade debit card doesn’t work?
Maybe in Russia and Eastern Europe?

They said Mexico is high on their “fraud model” but that makes no sense, are they just blocking huge countries so they can lower their chargeback rates while advertising that they provide 0% transaction fees? If you have 0 fraud and 0 service in other countries, Sure, charge 0%, the transactions never work, so no need to charge anything.

And honestly, the first few calls to them , the representative was completely unhelpful and had no idea of this rule. When I did finally speak to Amanda Rowe, she said yes, if I wanted to close my account that would be fine, really no attempt to empathize. I was surprised and very disappointed. I was going to move several hundred thousand dollars over to that TD Ameritrade account but now I’m probably going to close the account. I’m just surprised because Etrade goes out of their way to help you with these types of things, as do most of the online brokers and banks.

MichaelCleary

I am a long time ETrade account holder, but occasionally I “audition” other institutions because I think ETrade’s fees are high. At TDAmeritrade, Think or Swim is by far the best data provider. It is on par with what is used by institutional professionals (I have been one for over 20 years). HOWEVER, while Think or Swim is first class, in my experience, nothing else at TD Ameritrade is. Recently, EVERY time that I have called with a question, the rep “offers an alternative” rather than directly answering the question asked. This wastes my time. They also have their own unique way of doing things, compared to their competitors, like taking 6 days to clear a deposited cashier’s check (which is as good as cash), or taking 24 hours to post an inwire transfer (should be instantaneous and is at EVERY other financial institution that I have ever dealt with). When I asked for an explanation, I was told “we are a conservative bank”. Since when is “conservative” synonymous with incompetent? Unfortunately Think or Swim can not make up for the lack of knowledge of phone reps or their funds clearance policy. Please note that I am referring to the amount of time that it takes them to post DEPOSITS.

Marc

what is the minimum mutual fund investment amount? Fidelity is 2500 which is why I am thinking of leaving them

LarryLudwig
$0 min deposit.
Magellan

I sent en-mail to TD Ameritrade to find out why they don't open accounts for Russian citizens. They answered that it is a business decision and would have no further comments. What does it means "no further comments"? The answer is insulting.

nk1
Try IB. They work with Russians.
Trade4pleasure
It is politics.
Tom

The broker is very good. I liked the tool called Portfolio Planner very much. Besides, you can buy more than 100 ETFs without comission. It is great!