TD Ameritrade, with no minimum investment required to open an account, is one of the most well-known brokerages. It offers a range of investment accounts, including education, retirement, standard investment and specialty portfolios. With over 350 brick-and-mortar branches and a robust online investing platform, TD Ameritrade can bridge the gap between a traditional and online brokerage for investors who may want occasional in-person support. In addition to branches, TD Ameritrade offers a customizable web platform to track performance, mobile trading and thinkorswim, a professional-level trading platform with tools for test strategies and analysis.
TD Ameritrade offers a range of investment products, including stocks, bonds, exchange-traded funds (ETFs),Â individual retirement accounts (IRAs)Â and initial public offerings (IPOs). In addition, TD Ameritrade offers a range of managed portfolio options, including Essential Portfolios, its robo-advisor offering. Unlike investment accounts, these managed portfolios do have account minimums. TD Ameritrade also has third-party analyst resources available online for all clients.
With a robust and extensive range of services and investment products, TD Ameritrade aims to reach investors of all levels. The fact that thereâ€™s no account minimum to open a TD Ameritrade brokerage account is attractive for new investors or investors who wish to open an IRA through TD Ameritrade or use TD Ameritrade to roll over an IRA from a previous employer. Investors who want face-to-face interaction and customer support will appreciate the fact that there are brick-and-mortar branches of TD Ameritrade throughout the country.
In addition, TD Ameritrade has robust resources, including a comprehensive suite of investment research tools. These tools include Social Signals, which pulls Twitter insights on particular investments into one place. And while a beginning investor can easily navigate TD Ameritrade, the ability to set up a free consultation with an independent registered financial advisor through TD Ameritradeâ€™s AdvisorDirect referral program should provide additional peace of mind. Serious traders also will find a suite of products to meet their needs with thinkorswim, which offers 24/5 trading, a paper-trading platform with a virtual margin and IRA account to test strategies, and the ability to perform custom analysis via access to over 400 technical studies.
Deposit $3,000 or more and get 60 days of commission-free online equity, ETF and option trades.
|Stock trading fees||
|Account fees (annual, transfer, inactivity)||
|Commission-free ETFs offered|
|Mutual funds (no transaction fee) offered|
|Offers automated portfolio/robo-advisor|
|Ease of use|
|Mobile app||iOS, Android, Windows phone|
|Customer support||Phone, 24/7 live support, Chat, Email, 364 branch locations|
TD Ameritrade has a history of 40-plus years in investing. The online and mobile platforms have strong security requirements, including two-factor authentication, and shut down account access at the first sign of suspicious activity. TD Ameritrade also offers an asset protection guarantee that promises reimbursement for any securities or cash lost as a result of unauthorized account activity.
TD Ameritrade manages $1.3 trillion in client assets and has over 11 million funded client accounts. TD Ameritrade is a member of the Securities Investor Protection Corporation (SIPC), and securities in your account are protected up to $500,000, including $250,000 in cash. Certificates of deposit (CDs) purchased by TD Ameritrade are issued by banks insured by the Federal Deposit Insurance Corporation (FDIC). Cash in your investment account can be held in an FDIC-insured deposit account, where it is insured by the FDIC up to $250,000 per depositor, per bank.
Investors who have a range of investment needs may find TD Ameritrade to be a good all-in-one option. The robust online tools, accessible customer service and lack of account minimums make TD Ameritrade appealing to investors of all levels, although some may be turned off by the higher-than-average fees. Investors who want to actively manage their accounts but are looking for lower trading fees may want to check out E-Trade, Lightspeed Trading or Ally Invest before signing up.