TD Ameritrade Review 2017
Have you ever heard of TD Ameritrade?
Are you curious for more details about the services and tools that TD Ameritrade is offering?
Do you want to know what it all costs?
In this case, you are right here as I collected the most important basic information for you to give you a short overview that may help you to decide if you want to have a closer look at TD Ameritrade yourself.
First of all, TD Ameritrade presents itself with two facts that I see in a very positive light.
By now, TD Ameritrade is in the business for more than 40 years.
This has to mean something for sure as they wouldn't exist anymore if they are not doing some things right.
And they may look back at many years of experience to go on improving their service based on this.
The second statement I liked was TD Ameritrade's promise to be absolutely focused on every client and his individual needs.
They seem to understand that everybody has different goals and the company wants to help every user to reach these goals and to save time for all that really matters in life.
Yes, I know, this may be the wrong sentence in a review about a platform for traders who probably see the financial side of life as the center of everything.
But I decided to mention this here as I have never read any statement like this on any similar platform ever before and I feel that this sounds really engaging.
Of course this doesn't mean that TD Ameritrade would be less professional than the competitors in the market.
They offer a wide range of products, like e.g. options, equities, bonds and CDs, forex trading, mutual funds, non-proprietary and even more.
And they add personal guidance, highly advanced trading tools and retirement resources – everything built around every individual trader and with a personal one-to-one-support.
By understanding that trust is all that really matters, TD Ameritrade wants to serve you with the perfect guidance, knowledge and skills for well-informed and more successful trade ideas.
So, do they really mean what they say and could they really be your perfect guide for day trading?
Please, continue reading the TD Ameritrade Review as, in the following, I will tell you more details.
What do you have to know about TD Ameritrade and how does the platform look like?
My very first impression of every trading platform belongs to the most important points on my list when I start with a new review.
I use to see these websites with the eyes of a beginner and I have to tell you that in the case of TD Ameritrade I was positively surprised.
Yes, also this platform looks fancy and trendy, but it is not too stuffed, it is well organized and it doesn't repeat the same all over again.
I felt amazingly comfortable when I searched for the basic information I needed for this review and it wasn't hard at all to find everything.
So, I am truly impressed by the navigation on this platform and I guess, you will feel the same about it.
Maybe the perfectly organized platform has something to do with the long experience that TD Ameritrade gained during many years.
Since they started in 1975 when the founder, Joe Ricketts, opened the doors in Omaha, they are determined to putting their clients first and they want to help them to take control of their financial life to reach their goals with confidence.
When you read the history of TD Ameritrade, you will see that they belong to the pioneers that started with offering discounted commissions and that were part of the first companies that introduced their users to leveraging technology to make investing faster, easier and more efficient.
In 1995, TD Ameritrade acquired K. Aufhauser & Co. that executed the very first online trade since 1994. TD Ameritrade stays being focused on the mission to make online trading for self-directed investors more comfortable and more profitable.
Some of the examples for TD Ameritrade being the first in the business are the introduction of online options order entries, electronic trade confirmations by e-mail and extended trading hours.
While looking back at all these years, they promise that they didn't forget their mid-western roots that ground them and that they still feel connected with the same values as in the very beginning.
Right now TD Ameritrade provides about seven million clients with investing and trading services and these clients place an average of about 450,000 trades per day.
But these impressing numbers don't mean that TD Ameritrade would ever have started to act impersonally.
In the next part of this review we will go deeper into details to see if all this really leads to advantages for you.
TD Ameritrade – Products, costs and tools
It is always telling something about a company when you see the slogans it uses to advertise with.
TD Ameritrade uses the statement that if knowledge would be power, they would help their users to become superheroes.
But what does this mean and how do they want to reach this?
First of all, they are focused on offering their clients the best possible education as they believe that knowledge is the most powerful tool of all.
They want you to be able to make the best informed decisions and they even want you to have some fun while you are improving your skills.
That's why they let you decide what you want to learn and which kind of training you prefer.
You may choose between an entire learning curriculum and various separated courses and videos and between basic knowledge and advanced strategy planning.
On the platform you will find an Education Center.
For example, this contains video playlists being organized by the topics, an event calendar for webinars and workshops and offers for personal coaching.
And the very best: You can access and check this out even before you may decide to sign in.
Have a try with this to see if it is true that you will learn more in new, exciting ways and that you will enjoy your studies, e.g. in the “Newbie” - section or in the “Founder's Club”.
In the end of every challenge you will receive recommendations how to move on for further progress.
Now you may think: Fine, but what about the tools and the details regarding the service.
So, let's go on.
TD Ameritrade provides active traders and long-term investors with web, downloadable and mobile platforms that enable them to research stocks, to execute orders and to manage their portfolio with the help of real-time quotes, live-streaming CNBC and experts' advice.
Independent third parties are involved in the constantly undated research, like e.g. Morningstar®, CFRA (formerly S&P Capital IQ) and TheStreet.
To give you the best possible opportunities to follow your preferred strategy, TD Ameritrade offers you the choice between several different types of accounts for you can find the one that meets your personal needs:
Standard Accounts for a flexible access to user friendly investment products, intuitive trading platforms and an objective research. This type of account may be used as an individual or as a joint account and it may be upgraded for futures, options and forex trading.
Retirement Accounts to reach your retirement goals with the help of Traditional IRA, Rollover IRA or Roth IRA.
Here you will also be informed about all available kinds of tax advantages.
Education Accounts to plan your future and to invest in it. Here you have the choice between various state-qualified 529 plans, UGMA/UTMA accounts and tax-free Coverdell to be flexible when you save for education.
Specialty Accounts for individual trusts, business partnerships, pension plans and sole proprietorships.
These will make your planning for the future easy and successful.
Managed Portfolios being offered by TD TD Ameritrade Investment Management, LLC., to help you to save time with long-term investments. This will be adjusted to your personal financial needs and there will always be options for changes and for growth.
Margin Trading to take your personal trading to a higher level.
This account gives you the opportunity to borrow money from TD TD Ameritrade to increase your securities buying power by about 50 %.
I guess, now you may like a little more information about the tools that TD Ameritrade is offering for investors of all levels. There are several options you can choose:
The Web Platform
- with access to independent third-party research, planning tools and education
- with the latest financial news that you may customize according to your preferences
- with updated social signals to share insights from Twitter
The Trade Architect for active traders
- with live-streaming news from CNBC
- with stock and option screeners and independent research to identify trends and to generate ideas
- with interactive charts with various technical studies to manage your trades after customizing
thinkorswim for serious, professional traders
- with elite level tools for strategies and analysis
- with market scans and the opportunity to monitor the potential of risks and profits
- with special tools, like e.g. Swim Lessons and thinkManual for a quick start
Did all this make you even more curious? Do you want to know what it costs?
At this point I can add some more great news.
With TD Ameritrade you have the chance to trade commission-free for 60 days to get up to $ 600.
The exact amount depends on your deposit. So, you better have a look at the details on the platform.
But the 60 commission-free days are available for everybody.
Afterwards, you will trade with TD Ameritrade's $ 6.95 flat-rate commission per online trade being valid for all equity trades.
This will be what you will pay and it doesn't matter how often you trade or how your account balance looks like.
You will find all remaining details on the platform.
These will show you that TD Ameritrade keeps the pricing simple.
There are no share limits, no hidden fees, no opening deposit minimums and no trade requirements to gain access to the advanced features.
In all this, TD Ameritrade promises you that there will be no bad surprises at all and that the fees will not eat up your profits.
So, I suggest, you better challenge them to get the proof.
Fine, and what about mobile trading?
You see, by now I am able to guess what you may ask next.
TD Ameritrade belongs to the leaders in mobile trading. It offers:
- a big choice of device-optimized mobile apps, including Apple Watch
- the ability to manage your investments, to seize opportunities and more by using your mobile devices
- access to TD Ameritrade's #1 trading app in the App Store
Well, and what about the customer service?
On the phone, by e-mail and per fax you can reach TD Ameritrade's personalized customer service on seven days a week all through the 24 hours of the day.
And the customer service includes a special number to get help from the New Client consultant.
In addition, you may find answers to many of your possible questions in the detailed FAQ section.
To get a proof for the quality of the service, TD Ameritrade invites you to check its background on FINRA's Broker Check.
And it informs you about some awards that TD Ameritrade received so far, like e.g. the #1 for Long-Term Investing – Award by Barron's in 2017.
TD Ameritrade – My personal summary
Usually, when I start writing this I have to be careful for I won't criticize too much, but here I have to admit that TD Ameritrade has truly impressed me and that I see a real difference when I compare it with many of the platforms that I checked out before.
I guess, one of the reasons for this is the long experience in the business since 1975, but I liked it exactly the same that the client comes first for TD Ameritrade.
The highly advanced tools, the different types of accounts and the choices you can make according to your personal preferences are showing this clearly.
All this gave me the feeling that TD Ameritrade knows what is important, what to do and how to reach this.
In my personal opinion, the commission-free trading for 60 days, the flat-rate commission, the transparent prices without any hidden fees and the excellent opportunities for education for traders of all levels belong to the biggest advantages that I found on this platform.
But the great opportunities for mobile trading and the easy navigation on the user-friendly platform that leads you to everything you are searching for may be just as important.
Beside this, the customer service being available whenever you may need help and the awards speaking for themselves.
So, at this point I just recommend you to have a look at the platform, to get your own impression and to find out if TD Ameritrade may be exactly what you are searching for.
The advantages I see:
- commission-free trading for 60 days
- the flat-rate commission and transparent prices without any hidden fees
- the many opportunities in the Education Center
- TD Ameritrade being in the business since 1975, the many years of experience and the company's philosophy that the client comes first
- the user-friendly platform
- the excellent opportunities for mobile trading
- the 24/7-customer service
- the awards confirming the service
The disadvantages I see:
- the many choices you can make that are actually an advantage, but that may make things difficult for beginners
- no more detailed introduction of the people behind TD Ameritrade
- no free virtual trading account to practice without any risk
As we all use to see things in a different light and as we all have our personal needs and preferences, maybe you will be less impressed by TD Ameritrade than I am.
But anyway, I really think, only by checking this out yourself, you will know for sure if TD Ameritrade will make a difference for you: https://www.tdameritrade.com/home.page