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TD Ameritrade offers new investors lots of resources to learn from.
TD Ameritrade Main Highlights
| 🚀 Minimum deposit: | 0$ |
| ⚖️ Leverage: | |
| 🛡️ Regulations & Licenses: | SEC, FINRA, CFTC, MAS |
| 💵 Deposits/Withdrawals: | checks, ACH, wire transfers |
| 💻 Trading platform: | TD Ameritrade web and thinkorswim (desktop), Mobile app |
| 🌙 Islamic Account: | No |
| 🔗 Main domain: | tdameritrade.com |
A Look at TD Ameritrade
TD Ameritrade is a US-based stock broker that is regulated by the SEC and FINRA. It offers free stock and ETF trading, as well as low fees for forex, bonds and options.
TD Ameritrade Account Types
TD offers 4 types of accounts:
Standard account
Gain mobility and access to wide-ranging investments, impartial research, and user-friendly trading platforms through an ordinary account. These can be individual or shared accounts and can be upgraded for options, futures, and foreign exchange trading too.
Retirement account
Discover how to plan for retirement with TD Ameritrade. Find out about the tax benefits of Traditional IRA, Roth IRA, and Rollover IRA accounts, and choose the one that fits your retirement goals.
Education account
Whether you’re looking to save for college, high school, or anything else, you have plenty of options. From state-sponsored 529 Plans to tax-free Coverdell accounts, we can help you invest in your future.
Specialty account
From single people to companies, specialty accounts make setting up for the future straightforward.
TD Ameritrade primarily serves customers in the United States but also offers services to people in China, Hong Kong, Malaysia, Singapore, Taiwan, Thailand, Egypt, and Brazil. Canadian customers can use the TD Direct Investing solutions within the TD Group, but not through TD Ameritrade.
TD Ameritrade Deposits & Withdrawals
At TD, the only accepted currency is US dollars. There is no charge to deposit funds. US clients can deposit using checks, ACH or wire transfers, while clients in Hong Kong, Malaysia, Thailand, China, Taiwan and Singapore can use checks or wire transfers. Unfortunately, credit/debit cards and electronic wallets are not accepted.
A bank transfer can take several working days, whereas payment with a credit/debit card is immediate.
TD does not usually require a fee for taking out money. The only instance where a fee may be charged is for bank/wire transfers, which is $25.
An ACH transfer usually happens within a single day, and you need to send a minimum of $50. A wire transfer, however, may take multiple days.
TD Ameritrade Trading Platforms
Web platform
The web platform, with English and Chinese versions, is suitable for trading and researching investments like stocks and ETFs. If you want to trade more complex products, TD Ameritrade’s own desktop platform, thinkorswim, is a great choice. It offers more products such as forex and futures and has a variety of trading tools.
- Well-designed.
- User-friendly.
- Two-step authentication available.
You can use the following order types: Market, Limit, Stop-Market, Stop-limit, Trailing stop percentage, Trailing stop dollar.
Mobile platform
- User-friendly.
- Well-designed.
Two trading applications are available for both Android and iOS users. They are designed for different experience levels and investment goals. Both apps are available in English and are compatible with Apple Watch. Both apps offer a user-friendly interface, a two-step login, an OK search feature, and the ability to set alerts.
Desktop platform (thinkorswim)
- Good design.
- Easy to use.
In addition to the usual choices, there are more advanced order types available, such as trailing stop percentage, stop-market, stop-limit, and limit on close. You can also select from a range of order time limits, including fill or kill and good ‘til canceled extended hours.
And you can set up alerts and notifications on thinkorswim desktop trading platform using MarketWatch. You can receive alerts from prices to the news. Notifications can be sent via email or text message.
Education Offered by TD Ameritrade
Good educational materials offered by TD like articles and webcasts.
You can learn by:
- Articles.
- Tutorial videos.
- Webinars.
- Demo account.
TD Ameritrade Regulations and Licenses
The broker is regulated by:
- The Securities and Exchange Commission (SEC).
- The Financial Industry Regulatory Authority (FINRA).
- The Commodity Futures Trading Commission (CFTC).
- The Hong Kong Securities and Futures Commission.
- The Monetary Authority of Singapore (MAS).
Related article: Interactive Brokers Review 2023: Features & More | Brokers Times
FAQs
Is TD Ameritrade a scam?
No, it is safe amd all customers are protected by the US investor protection plan SIPC. This is because TD Ameritrade Clearing Inc., a US legal entity, provides services to clear and safeguard client assets.
Is TD Ameritrade seurities legit?
Yes, it is regulated by the SEC, FINRA, CFTC, the Hong Kong Securities and Futures Commission and the MAS.
What is the minimum deposit for TD Ameritrade?
0$
Where are the offices of TD Ameritrade located?
Omaha, Nebraska, United States
TD Ameritrade Pros
- Good educational content
- Very good client support
TD Ameritrade Cons
- Trade on US markets only
- Electronic wallets, debit/credit cards unavailable
