TD Ameritrade USA Review & Rating 2021
Is TD Ameritrade Scam Or Legit?
TD Ameritrade is a giant in the online broker world. With a wide range of trading products, high-functioning trading platforms, and research and education tools second to none, TD Ameritrade USA excels in all departments. Although the fundamental company has been around since the mid-70s, it was only in 2006 that the company rebranded as TD Ameritrade. Over the years, with great guidance and tactical decision-making, this broker has gone from strength to strength. Today, they have over 12 million trader accounts with an estimated value of over $1.2 trillion.
Our TD Ameritrade review will take you through the ins-and-outs of the operations as it is known today. You’ll be provided with all the necessary insight you’ll need to make an informed decision on whether TD Ameritrade USA is the correct broker for you. In this TD Ameritrade USA review, you’ll be able to read up on which account types are available to you, accepted payment methods, regulatory and security oversight, with special mention to any existing offers. We’ll also provide an analysis of the various trading products offered by TD Ameritrade. Read on to find out more about this fantastic online broker!
TD Ameritrade Pro and Con
- Dynamic, highly-functioning trading platforms
- Exceptionally low trading fees, including free stock and ETF trading
- Progressive and insightful educational services for beginners
- Top-notch customer service department, well-versed in all trading needs
- Only possible to trade in US markets
Due to the ever-expanding number of businesses that are digitizing their operations and moving online, you’ll find a similar increase in the number of offers you’re confronted with. Each business is competing for a finite number of customers, and one way to attract new customers is by offering a generous sign-up deal.
TD Ameritrade might have a lot of clients, but this doesn’t mean they aren’t interested in attracting new ones. Our TD Ameritrade review has noted that, at the time of writing, they’re offering a new customer deal. The offer is valid until the end of 2020 (31 December) and comes in the form of a cash reward for signing up and depositing funds. Sign-up offers might seem appealing at first but are only really applicable to clients who deposit large amounts.
You’ll be eligible for up to $2,500 in cash if you deposit funds once you’ve created a valid account. The minimum amount you can deposit is $250,000 in order to receive $350 in cash. Deposit $500,000 and you’ll receive $750. A deposit of $1,000,000 will net you a cash reward of $1,500 while funding your account with $2,000,000 will see you receiving $2,500 in cash.
The next part of our TD Ameritrade USA review looks at the general usability of the website. The broker has gone for a standard template which is aesthetically pleasing. Different shades of green complement the actual text and you’ll find it easy to navigate. On the homepage, you’ll find a search bar function. This allows users to easily find what they’re looking for and makes for intuitive navigation. Landing pages are quick to load and full of in-depth information.
If you’re looking to log in to your account, you can do so by inputting your details on the homepage. There are spaces for your username and password and you won’t have to visit multiple pages to access your account.
Below the search and login functions, you’ll find the main pages titled next to one another. Tools & Platforms, Investment Products, Guidance, Retirement, Education, and Research are all clearly displayed and is only one click away. For general information, you can simply scroll down on the homepage and you’ll find complimentary images and call to action buttons. All in all, our first impression of the broker’s website was more than satisfactory. Our TD Ameritrade review USA is eager to continue on our analysis – read on to find out about the available TD Ameritrade open account options.
TD Ameritrade has launched a range of different accounts which suits various types of traders. From a standard account, to specialty account, and much in-between, you shouldn’t have too much trouble finding the right one for you. Below, we’ll outline the most popular TD Ameritrade open account options:
There are 7 different types of standard accounts available to you. You can choose from an individual account, tailored for one owner with no minimum funding required. The next is a joint account – choose between a Rights of Survivorship and Tenants in Common account. The former joint account allows for undivided interest in the entire property of the account. The latter allows for specified percentage ownership bestowed upon each member. Community Property and Tenants by the Entireties are accounts for married couples. Please make sure you reside in a state that allows this type of account. For minors, one can make use of the Guardianship account for individuals. For more information on the individual account offers, visit the official website.
There are 7 different retirement accounts on offer by TD Ameritrade. Each provides the member/s with added flexibility and are tailored to specific income brackets and all have certain tax benefits. The various TD Ameritrade open account options for retirement plans include Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Solo 401k (small businesses), Simple IRA, and a Pension Plan account.
These retirement accounts have been devised to provide individuals, employees, and small businesses with a safety net and are exclusive in their scope and internal benefits. Although our TD Ameritrade review has given reference to the different account types, you can find more information pertaining to each on the TD Ameritrade website.
Our TD Ameritrade USA review is extremely impressed with the availability of these TD Ameritrade open account options. Geared toward students who wish to save for college, pay off expenses, or minors who are still too young to legally manage their own portfolio, this is testament to TD Ameritrade’s vision of inclusivity and a shared goal of pursuing the financial independence of the next generation. As mentioned in our USAA investments review, although USAA investment doesn’t necessarily offer educational accounts, their educational services are also inspiring and great for beginners.
There are a range of specialty accounts available to individuals and businesses alike. You’ll certainly find a TD Ameritrade open account option that is the right fit for you. Visit the official website and click on Account Types > Specialty Accounts and choose one that suits your needs. We’re certain you’ll find one within no time.
Two more TD Ameritrade open account options include managed portfolios and a margin trading account.
TD Ameritrade opinions have only good things to say about the powerful and efficient trading platform employed by this broker. You’ll find innovation is at the forefront of these platforms and constant updates provide users with leading tools that are adaptable to all trading products and situations. Take a look at our TradeStation review for another broker pushing the envelope and providing traders with high-end platforms.
The web platform is an online platform available to users with an internet connection. TD Ameritrade USA opinions have rated this company’s research tools and functions as being the best for a number of years and it’s clear to see why. Our TD Ameritrade review is quick to note the interactive and intuitive features that the web platform possesses. A clear-cut design makes for quick reading and tracking products has never been easier.
This desktop trading platform is tailored to professional traders who require elite tools and strategies to trade with. The software is downloadable and can be customized to suit the preferences of the trader in question.
The web platform has been streamlined for traders and does not necessarily have all the features of the desktop platform. Having said this, you’ll have access wherever you find yourself – as long as there’s an internet connection. Preconfigured strategies and all essential tools will be available and ready for use.
This app might seem basic at face value due to the clean design, however, it’s anything but simple. The app allows for trading in stocks, ETFs, and options with streamlined order entry and editing. You’ll have access to charts displaying all relevant indicators, active alerts, real-time quotes. In addition to the mobile app, you’ll be able to use thinkorswim’s mobile app that has access to multi-leg options, forex, stocks, futures. Access is available 24 hours a day, 5 days a week.
Once you’ve chosen a TD Ameritrade open account option, you’ll be eager to fund your account. You’ll have your pick from 5 main funding options.
An electronic bank deposit is the most popular payment method used by clients. Limits are set between $50,000 and $250,000 while the processing time is almost instant.
You can fund your account via wire transfer. One big advantage of this payment method is the fact that there is no deposit limit. You’ll need to wait 1 business day for the transaction to clear. For more information, contact your bank.
Funding your account with a check is also an available option. You can send a check, no limit, via your mobile app or mail. Checks take between 1-3 business days to process.
If you have an existing account with another firm, you can transfer your account. This includes transferring all assets such as stock, ETFs, options, and more. Completion time for account transfers takes up to 1 week. You can do this process online.
Lastly, you can deposit physical stock with physical stock certificates. You’ll have to mail in the certificate and wait 1 business day for the certificate to be processed.
Once again, our TD Ameritrade review USA is astounded with the fantastic ratings in terms of customer service. This broker has made it extremely easy for clients to contact them, via a plethora of different contact services. Visit the Contact US section at the bottom of the official website for a complete list of contact options.
You can call TD Ameritrade for various enquiries on different lines. For new accounts call 800-454-9272. Existing clients can call in on 800-669-3900. There are telephone numbers for Spanish and Mandarin speaking clients, while you’ll find international support, retirement consultants, and services for clients with impaired hearing.
You can text TD Ameritrade USA at TXTTDA (898832) or you can message them on Facebook Messenger or Twitter Direct Message.
If you’d prefer to visit a physical branch, enter your zip code and find out whether there’s a branch nearby. There are 250+ branches nationwide.
You can also make use of self-service options in case you require information immediately or are struggling to get hold of a representative.
This broker is also a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Commission. Both require firms to operate within the strict confines of the law and transparent practices are put forward.
Our TD Ameritrade review USA was unable to find any mention of additional offers, notwithstanding the new customer offer. However, you aren’t required to deposit funds to open an account with TD Ameritrade, and this allows you to explore their platforms and equip yourself with the necessary experience before you start trading.
We’d be remiss not to mention the various accolades attributed to this fine broker in our TD Ameritrade review. They’ve received various awards, including being named the #1 overall broker for consecutive years running. They continue to be named as the leading broker in multiple categories and according to a study by Business Daily, was named one of the top brokers in terms of customer service, options trading platform, and research tools.