TD Ameritrade
If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.
Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.
Pros
- Wide range of educational content available in many different formats
- Expansive trading tools and resources for all types of investors
- Well-designed mobile app and website
- Excellent client support
Cons
- Fractional shares are not offered
- No direct crypto trading
- No automatic enrollment for the cash sweep program
TD Ameritrade
TD Ameritrade is one of the most well-known brokers in the country, attracting a wide range of investors thanks to a far-reaching offering that enables all users to pursue their preferred investment strategy, regardless of experience level. Beginner investors will find it easy to get started with no balance minimums and straightforward pricing. Educational content is also outstanding for the breadth and scope of material covered. Advanced traders can leverage TD Ameritrade’s renowned thinkorswim platform, which offers a powerful combination of top-tier research tools, screening functions, and financial calculators. While some features aren’t available, such as fractional shares, it’s no accident that TD Ameritrade won four of our “best broker” categories as the platform resonates with a wide spectrum of users. Bear in mind that, even though Charles Schwab has acquired TD Ameritrade, the broker still operates as a separate entity. 1 Next, we’ll explore TD Ameritrade in detail so you can see all that they offer. TD Ameritrade was established in 1975 as a full-service broker in a discount package and has built a brand as a leader in trading innovation, client experience, and education over the years. In 2020, Charles Schwab announced it had acquired TD Ameritrade for $26 billion, a merger that’s expected to be complete in 2023. 2 TD Ameritrade’s platform appeals to all kinds of traders. New investors have access to a wide range of educational tools, which are available in a variety of formats and cover a broad assortment of topics. Customer service is easily accessible through several different channels, providing new investors with needed support and peace of mind. No balance requirements and relatively low, transparent pricing also lets beginners feel comfortable getting into the market. Another standout area for TD Ameritrade is their dynamic, intuitive portfolio tools. All types of users, regardless of experience level or investing preference, can leverage a comprehensive range of trading features and analysis tools that are customizable to their personal strategies. A well-implemented design makes it easy to find what you’re looking for and execute your desired investment strategy effectively. Desktop, web, and mobile experiences are all easy to navigate, with full feature parity across each version. TD Ameritrade may be best known for their flagship trading platform, thinkorswim. This powerful offering combines sophisticated research tools, screening features, and financial calculators with backtesting capabilities, letting investors experiment with their investment approach based on historical data before entering the market. New product enhancements continue to roll out, such as updated charting functionality and a portfolio digest feature announced in July, 2022. 3 Users report that TD Ameritrade's overall intuitive design, extent of trading tools, and consistent innovation are some of the top things to like about the platform. Some notable pieces are missing from their lineup, however, such as fractional share trading and direct crypto exposure. On the whole, however, TD Ameritrade’s robust investment options paired with mostly low fees, outstanding client support, and a deep educational catalog, resonates with investors of all backgrounds.
TD Ameritrade not working!
This is the second time in a week that I am not allowed to log into my account. Phone wait time is 1 hr and 30 mins before someone can help you. If you trade this will make you lose a lot of money. This is not acceptable for a company like this. Hire someone to answer the phone! Make sure your clients can log into their accounts this is pretty basic stuff in a high tech world. UPDATE: looks like this has been resolved.
TD Ameritrade is promoted across the internet, including its own website, as a company that serves international investors. So I opened an account with them while a US tax payer. However, when I told them I was becoming a UK tax payer, they said I could no longer trade with them, and would need to close my accounts. This included my US IRA (pension) account. They also said that their restricted country list isn’t even available publicly. Unbelievable.
I use TD Ameritrade for lower cost stocks. I haven’t had any problems depositing funds through bank transfers or mobile check deposits. I’ve had no problems buying or selling stocks. To be fair to the other reviewers here, I haven’t attempted any withdrawls or had a need to contact constomer service but so far I’m happy with the site and will continue to use it.
I’ve never used to have any problems with TD customer services until recently. I’ve always gave them a 5 stars rating. Now they are the WORSE customer services. You can never get a hold of them or they would have you hold for at lease 50 minutes. I can’t even place my sell order it got rejected many times. I’m going to switch my account over to a different brokerage next week. This is HORRIBLE!
Account hacked – seriously flawed security practices
Somebody hacked into my TD Ameritrade account with very limited knowledge about me. They did this by phoning into the call center and then changing my username and password.
The security protocols they have in place is deeply flawed and in my opinion they shouldn’t be allowed to operate given the lack of controls and the ease with which my account was hacked.
If you don’t want to put your money at risk, I strongly suggest you look for another broker
I’m trying to DRS (direct register my…
I’m trying to DRS (direct register my shares) in my name, not tda’s name. I’ve been told 7-10 days. Then 1-3 days. Now it’s two weeks later and I’m being told 2-4 weeks.
Every complaint I make give back some boilerplate email that is meant to kick the can down the road a bit longer.
I don’t like the lack of info and the lies.
I doubt they actually own my shares.
I will transfer everything to Fidelity and then get my shares to computershare from there. I want my shares in my name.
Great customer service!
I’ve been an active client of TD Ameritrade (formerly Ameritrade) for over 25 years. I am experienced with many other institutions and trading platforms. They have the best customer service and I would recommend them to everyone.
I wish they were also IRA custodians for non-traditional investments such as crowd funding or real estate investments, but they’re not. Altoira is currently my custodian for that, and the customer service is extremely poor.
Don’t trust TDA with your money
I tried to Rollover my 401K to a different company. The receiving company rejected the check, and sent it back to TD Ameritrade. It had my name and SSN on it, but not my TDA account number. TDA deposited it into another account holder’s account (she had the same name, but obviously not the same SSN). My advice: Don’t trust TD Ameritrade (or Charles Swaab, now that they have taken it over) with your money.
excessive fees
platform is fine, easy to use but one aspect of TD Ameritrade makes it a Bad Bad choice for small investors. Fee structures. Reorganization fees of $38.00 for many may be fine however for a stock total valued of pennies or a couple dollars they charge excessive fees not based on value of stock just one time $38.00 hit. Nakd good example R/S 1-15 total value $5.86 for 1 stock owned screwed with $38.00 fee that is excessive and don’t care about customers so TD Ameritrade now has a -negative rating with me
WARNING!!
WARNING!!! to buy or sell a trade. I was lied to twice which caused losses both times. I lost over around$3000, They sold out my action without receive my approbal – I had actions with large company and good representation on the market and they took decision to sold my action without approbal.. And TD Ameritrade’s trade resolution desk is there to attempt to cover up theirfaults not to truthfully watch out for your interests too.. THUS, I will be getting back my money from TD Ameritrade. NEVER!!! Trust a TD Ameritrade broker. Listen to what they say, record it like I did and do your own due diligence. TD Ameritrade brokers are liars.
I tried changing from Margin to Cash…
I tried changing from Margin to Cash account 1.5 weeks ago and they still haven’t changed it. I’ve had to talk to 5 people and no success. I even complained on Twitter. I sent them 5 emails and talked to 2 customer representatives on Thinkorswim. I’ve been with them 10 years, I’m very unhappy with TD Amreitrade. F-
I only gave them one star because this…
I only gave them one star because this is the lowest you can give them. Think of the worst used car lot you have been on and this is these guys. I was in my car and tried to make a trade. The TDAmeritrade app would not load on my phone. I deleted it several times, reloaded tried again, same result. Unfortunately I was not trying to make a trade where I was going to make money, I was losing $ and trying to get out. Customer service was no help saying they cannot do anything. No other problem with other apps on phone. When I got home I could login on my computer. So the mobile app just looks good on the phone page. Just don’t try and use it to trade. As I came on I noticed some of the other reviews. Wow how many one star reviews can u get? Sooner or later u r gonna lose money with them and there is NO RECOURSE. $$$ GONE
TD Ameritrade – dishonest broker
I use TD Ameritrade as my forex broker. Today they closed me out of a trade at a loss and claimed that the bid price dropped 25 pips lower than other brokers and charts are showing. If they hadn’t improperly closed the trade, I’d have made a profit. I called them and they said basically they have a right to set their own forex prices regardless of what other brokers do. All brokers vary by a couple of pips — BUT NOT 25!!! I’m filing a complaint with the CFTC and the NFA and switching brokers immediately. Don’t trust TD Ameritrade. They are a dishonest broker.
TD Ameritrade’s customer service…
TD Ameritrade’s customer service doesn’t care, is incompetent and rude. Seriously, why do these customer service douchebags act like they are the gatekeepers? So stupid. I’m changing brokerage. A bunch of incompetent fools.
TD Ameritrade is absolutely the worst
TD Ameritrade is absolutely the worst! The employees have no knowledge about virtually anything and lied to you, you have to get a supervisor to actually get proper answers! Because I’ve requested supervisors multiple times they discontinued my account! Avoid find another platform they’re a disgrace as a financial institution with little oversight by management.
Be careful with this trading platform
Be careful with this trading platform, they are corrupt and will steal every penny they can from you. They also change the amount of your buying price to a higher number and collect the money for themselves for the lower price. I bought a stock for $1.11 this morning $1000 shares and when I submitted the request they changed the buying price to $1.40. This has happened many times to me and I could never figure out how it happened but luckily this time I checked the activity to see the purchase and there it was .30 higher Tham what I bought it for. They scammed me out of $300 this morning, I will sell off all my trades and move to a more trusted platform. I called them to fix it, they pretty much told me to go to hell. BEWARE OF TD AMERITRADE, THEY ARE A CORRUPT COMPANY
Putting toothpicks in my eyes hurts less
They give you a choice of the TD Ameritrade platform OR the thinkorswim app to trade with… However your account balance and info never matches!! And when you call them, they say “Oh yea, just go off of what the TD Ameritrade app says”. Really??? Then why have ThinkorSwim??? The list goes on, but I’m sick and tired of the whole corrupt wall street gang f=ing the retail investors daily!
NO RESPECT FOR NON PRO TRADERS
TD is very Unempathetic towards non-professional traders. ANY mistakes will be referred to a CIA type unit and you will be sanctioned. TD’s standard seems to be in interest of only attracting a niche demographic. Which by standard becomes discriminatory and disenfranchising. There’s a reason TD has 1 1/2 star review.
Watch out!! They’ll cause you loses and avoid responsibility!!
AVOID investing through TD Ameritrade!!
They made on my account a mistake that cost me a fortune and they avoid any responsibility.
If you will lose your money because of their mistakes(which are sooner or later likely to happen), they’ll tell you to deal with it and you’ll never see that money again. DO NOT TRUST THEM!!!
I’m very disappointed with TD…
I’m very disappointed with TD Ameritrade. I had an account with them 25 years ago, so got an account for my ex with them because I was really happy with them at the time. None of the things I liked about it are left. You have to buy and sell in the dark becasue their charts are terrible, can’t even blow them up enough to look at. I don’t know, finding someone else who will give her some real time information on what she is buying or selling.
Solid, No-Frills Brokerage
I’ve been a loyal client since 1998 when they were just plain Ameritrade. They have been a solid, dependable, no-frills, no-nonsense brokerage with outstanding customer service. The reps are always very helpful and courteous.
Shortly after the acquisition by Schwab I started receiving unsolicited cold calls from their brokers. I made it clear that I’m a buy-and-hold man not interested in churning my account and they have left me alone ever since. I like that they don’t bombard you with sales pitches for this and that.
I’ve found that during market hours, cash balances on the web interface are slow to catch up, but Think or Swim updates immediately.
If you need telephone support you’ll get through much quicker if you call during off hours when the market is closed and the brokers aren’t as busy.
At TD Ameritrade you get free Gainskeeper, a real boon at tax time. I hope Schwab doesn’t take it away.
I understand that eventually we will get Schwab accounts and new account numbers. It remains to be seen if Schwab keeps the many benefits of TD Ameritrade in place or if things will change for the worse. Schwab has already made it clear that Think or Swim is “here to stay”.
I have been trying to get TDA to wire…
I have been trying to get TDA to wire my funds for more than a week. They accepted the wire instructions last week and then canceled it without notice to me because they would only send a wire back to the bank it came from – nowhere else. Then, I tried to close the account with a wire to the originating bank and that wire was canceled because the agent closed my account before the wire was sent. MORONS – I’ve dealt with 4 agents and all were wrong on every level. Now, they have more than 12K of my cash and have closed my account so I can’t see where it is or have access to online accounts.
These people are unethical, politically driven monsters who will rape you of your money without warning within seconds. They only care about covering their own asses and will lie their heads off after they do so. They don’t have to follow federal or FINRA guidelines and are given carte blanche to destroy people intentionally. Do not, I repeat, do not go to FINRA for anything. Do not go to a FINRA arbitration. The system is 100%, indisputably rigged. FINRA is not there to protect consumers. They are there to protect the brokerages and keep the table tilted. TURN AND RUN FROM TD AMERITRADE AND FINRA IF YOU VALUE YOUR HARD-EARNED MONEY. THESE PEOPLE ARE MONSTERS AND HAVE ZERO CONSCIENCE ABOUT PUTTING PEOPLE THROUGH LIVING HELL.
I am writing as a distressed consumer
I am writing as a distressed consumer, and longtime TD Ameritrade customer, recently re-engaging my TD Ameritrade account # xxxxxx. I am shocked and appalled at this time at the treatment of me as a TD Ameritrade customer, and must request urgent and immediate assistance to ensure this matter’s resolution, after TD Ameritrade arbitrarily placed my account and funds on hold — this, after being guaranteed by Executive Management that this would not occur, on several recorded calls.
As noted in previous emails to TD Ameritrade, this account has long had checking privileges, I wished to utilize this account not only for trading purposes, but as a secondary checking account as well — with full Privileges to transfer into and out of my external bank accounts as needed. My grievance today stems from the confusion stated on a call with TD Banking Care, as I wish to fund my account with a business check ( a small settlement check) of $5,945.45, and wish to ensure that I have prompt access to these funds for both trading purposes and checking account purposes as needed. While I was advised that I would indeed have access to these funds for all purposes (including partial transfers to any of my external bank accounts), I was also told that TD May restrict my ability to do so and reject said transfers — an appallingly confusing statement, with my own money potentially being held and refused to be transferred out of my account upon the check’s clearance. Further be advised that I was promised by several staff members — including Aaron Mitzan, Chase Mizoguchi & Amy — that this exact scenario (the freezing of my funds and any noted issues with Loss Prevention after my check deposit of $5945.45 on 11/4/22) would not occur, only for it to occur exactly as I was guaranteed it would not — this matter has left me in dire straits, and is grossly unacceptable. My funds are now being arbitrarily held for a “Fraud Investigation”, which is grossly unacceptable given the fact that this check has cleared, and I am able to readily prove my identity and that this check indeed is my check — as evidenced by all prior doc
I was advised that my check would clear on November 10, 2022 — by multiple agents including a supervisor named Colton and Several others, and I was then advised that this check would clear this morning (11/10/22) — which it did, followed by the sudden arbitrary holding of my funds by TD Ameritrade. Again, I was promised that this matter would not occur as it has and I am suddenly told that my account is under “Fraud Investigation” — this matter has caused me severe medical distress, and I demand immediate resolution.
Please note, that I am now unable to login to my TD Ameritrade account, and I was advised by Client Advocate Team agents Amy & Aaron Mitzan that this wire would definitively go out today without issue, 11/10/2022 — with a guarantee that “this will go out today” on a phone call today by representative Amy at approximetely 9:37am PST. I am now unable to login to my account or have any access to my funds, and request to urgently speak to senior level management, as I am proceeding with a complaint with not only FINRA, but the Consumer Financial Protection Bureau, Better Business Bureau and local media to ensure that this is immediately released and all of my funds are returned to me immediately.
Please be advised that as a disabled individual, this matter is absolutely unacceptable and continues to cause me profound and severe distress, meriting immediate and urgent resolution — including the full and immediate release of my funds, totaling $6,096.53.