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TD Ameritrade Review USA 2021

Welcome to our TD Ameritrade Review USA here at TradersBest.com!

Here, we’re keen to help you find out how this trusted American veteran brokerage has grown to become the most consistent all-round online trading platform for both complete beginners and experienced high volume traders.

On top of that, there’s the multi-award-winning customer service, $0 commission fees and an A-Grade mobile trading platform to help enhance an already excellent all-round trading experience.

Pros & Cons of TD Ameritrade
  • Quality platform with a strong reputation
  • Zero commission rates
  • Low trading fees
  • Mobile trading available
  • Excellent research data and tools
  • Limited payment options
Company
CompanyTD Ameritrade, Inc.
Headquarter200 South 108th Avenue Omaha ,NE 68154 ,United States.
Year of Founding2006
CEOSteve Boyle
Web Sitewww.tdameritrade.com
Available LanguagesEnglish
Customer SupportLive Chat, Email Support
Email[email protected]
Phone+800-454-9272
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Verified by-
Payment Methods
Credit Card
Bank Transfer
Show More

TD Ameritrade Review of the Site: Security, Usability, Look & Feel

The TD Ameritrade site has a smooth and light design with splashes of green on a white background, which perfectly marries the sophistication of classic trading sites with the modern-edge that newer crypto brokers provide. If you’re interested in seeing another site that does this well, then have a look at our TradeStation Review later on.

80/100
Rating
TD Ameritrade Highlights
  • Excellent crypto research tools
  • Low trading fees and commission rates
  • Mobile trading app available

The site is user-friendly overall and new traders should find the basic relatively intuitive. However, once you get a little deeper, novices may find things a little complicated. This is often a small issue faced by veteran trading companies moving online – they’re often catered to the more old-school office traders. TD Ameritrade is improving by the day here though. In terms of performance, the site and trading platform run quickly, free of bugs or lagging – which is pretty impressive given that it deals with some serious volume on a daily basis.

How to use TD Ameritrade: A Step by Step Guide

Note For Beginners:

Td Ameritrade offers you the chance to test drive the thinkorswim trading platform and to practice trading actual futures without having to risk your real money. You can do this before registering your actual TD Ameritrade account by signing up for paperMoney. Once you’re comfortable, follow the steps below.

Open 

Like with any trading platform, your first step towards trading with TD Ameritrade is to sign up and create your account. You can do this quickly and easily via the online form. Not including the approval and verification process below, it’s done in minutes.

Approval

You’ll then need to apply for approval in order to be able to start trading with real money. To do this, log into your account and click Client Services then My Profile. Once inside, find the Elections & Routing drop-down menu, look for Futures then click Enable. Once that’s all done, you should be approved to trade within 2-3 Business days.

Download 

While waiting to be approved, you can use the time to download the thinkorswim trading platform to your desktop and mobile devices. Additionally, you can also take the time to study futures, and other trading options and familiarize yourself with the trading platform.

Trade

Once that’s all done you’re ready to start trading by clicking on the “Buy/Sell” button and going from there. The process is easy and self-explanatory from there on in. If you have any problems, the customer service team is excellent and happy to help.

Company
CompanyTD Ameritrade, Inc.
Headquarter200 South 108th Avenue Omaha ,NE 68154 ,United States.
Year of Founding2006
CEOSteve Boyle
Web Sitewww.tdameritrade.com
Available LanguagesEnglish
Customer SupportLive Chat, Email Support
Email[email protected]
Phone+800-454-9272
Licence
FINRA - U.S. Financial Industry Regulatory Authority
Verified by
Payment Methods
Credit Card
Bank Transfer
Show More

TD Ameritrade Funding Account - Payment Methods

There are five ways in which you can fund your TD Ameritrade account – electronic bank deposits, wire transfer, Check, transferring to your account from another firm and via physical stock certificates. Electronic bank deposit is by far and away the quickest and overall efficient deposit method available with TD Ameritrade. Transactions are usually completed within 5 minutes with deposit limits between $50 and $25,000 and the process can be done entirely online. If you’re a high volume trader, then wire transfer or check is your best bet as there are no deposit limits in place.

Credit Card
Bank Transfer

You can avoid paying the $75 transfer fee, as partial transfers are free to complete, making this your best avenue if you want to withdraw 100% funds without paying any fees or commission. However, this will take time, as partial brokerage account transfers can take between three and four weeks from the date the online form is completed.

TD Ameritrade Customer Service

If the old school nature of some of TD Ameritrade’s operations sets them back a little bit in some aspects, it definitely helps them excel when it comes to customer service. While some of these modern brokerages try to pawn you off on a live chatbot, TD Ameritrade has a strong and attentive attitude towards customer care, delivering a world-class level of client service, the likes of which America has been built upon. You can contact the team 24/7 via live chat, email and telephone – and when they say 24/7, they actually mean it as well.

We mentioned they are old school in some ways, but this shouldn’t undersell the fact that the live chat is excellent, with polite and helpful customer service agents at the other end who are – wait for it – actual human beings and not bots! Barring any major events in the financial world, you should be able to reach a phone rep within minutes and emails are generally answered within a day, though some enquiries may be quicker.

Is TD Ameritrade Safe? - Licenses and Security

If you’ve come here asking questions about TD Ameritrade being legit and secure, then we’re here to tell you that you really should be in no doubt. TD Ameritrade started life as Ameritrade in Omaha Nebraska back in 1971. Now headquartered in Texas, the original Omaha HQ is still there and TD Ameritrade still holds true to the trustworthy middle American values upon which it was built.

TD Ameritrade holds a banking license, is listed on the New York Stock Exchange and is regulated by FINRA among other top tier regulatory bodies. In addition, TD Ameritrade also publishes regular financial updates. When it comes to the question of security, TD Ameritrade has multiple products, services and tools to help protect both your funds and your data and your assets are protected in case of unauthorized activity in your account. If you have any issues, their award-winning customer service team have procedures which are at the cutting edge of the trading sector.

FINRA - U.S. Financial Industry Regulatory Authority
SIPC - Securities Investor Protection Corporation (USA - not governmental)
CFTC - Commodity Futures Trading Commission

TD Ameritrade Ratings – Customers Feedback

TD Ameritrade rates consistently higher for customer satisfaction in a sector where customers who have had bad experiences with heavy losses tend to be the most vocal. The fact that their customer service has been named as the #1 broker for customer service for the last four years in a row by StockBrokers.com comes as absolutely no surprise.  In addition, they have also been given the top rating for tools & platforms for the last 9 years and in 2019 & 2020 it was voted best overall broker.

TD Ameritrade Crypto

TD Ameritrade Crypto Trading - Cryptocurrencies

TD Ameritrade recently invested in Eris X, a company that offers crypto trading via spot and futures contracts on a single exchange. This means that TD Ameritrade cryptocurrency trading is on its way, but has not yet arrived in the fully functional form it is expected to in the very near future. Not to worry though, as with TD Ameritrade, bitcoin futures can be traded in the here and now. The website has us and their current active clients poised for information on when holding spot cryptocurrencies will be available via Eris X, so we have every faith that you’ll be able to trade crypto on TD Ameritrade very soon.

80/100
Rating
TD Ameritrade Highlights
  • Excellent crypto research tools
  • Low trading fees and commission rates
  • Mobile trading app available

For updates on exactly when TD Ameritrade crypto will be available you can check their website or contact them via email for detailed information and timelines. Alternatively, you can check back to the TD Ameritrade crypto review right here at TradersBest.com, as we’ll let you know as soon as we do. In the meantime though, you can check out our reviews of some other brokers with cryptocurrency, including our eToro Review and our Robinhood Review. For a crypto trading platform that offers a range of other financial services, take a look at our SoFi Review.

TD Ameritrade Fees

To start things off with the golden headline here, there are absolutely no commission fees with TD Ameritrade. We have the ever-expanding and increasingly competitive market for that. After going toe-to-toe in a price war with their main competitors, TD Ameritrade wound up abolishing commission fees altogether back in October 2019 – and it doesn’t look like they’re coming back. The exception is for OTC penny stocks, which incur a commission fee of $6.95. Stocks, EFTs and options can all be traded completely free of commission fees, however, there is an options contract fee of $0.65 per contract.

TD Ameritrade charges a flat rate fee of $25 for broker-assisted trades, which is both reasonable and competitive for the service you get. Elsewhere, there technically isn’t a withdrawal fee, however, there is a $75 transfer out fee. You can avoid this by making partial transfers, which are completely free of charge.

TD Ameritrade Countries - Jurisdiction and Limits

As the very name suggests, TD Ameritrade is an American owned and operated online trading platform. Therefore clients in locations across the United States and its overseas territories can use all of the available trading services and access all markets and assets. As well as their online platform, TD Ameritrade has 100 retail branches throughout the country.

80/100
Rating
TD Ameritrade Highlights
  • Excellent crypto research tools
  • Low trading fees and commission rates
  • Mobile trading app available

Although TD Ameritrade accounts are almost exclusively targeted at customers residing inside the United States, some of the services are available in a handful of other countries, including Malaysia, China and Hong Kong. However, the only way to access 100% of the TD Ameritrade platform is to so from the US as a full certified citizen. If you’re reading this as a neighbor from the north, we regret to inform you that TD Ameritrade isn’t available in Canada or most European countries for that matter.

TD Ameritrade Investment Products

Despite cryptocurrencies not yet being a a fully fledged part of the trading assets available with TD Ameritrade, clients can still trade in a broad range of other, more traditional assets. Included in these tradable assets are stocks, options, ETFs, mutual funds, futures and forex currencies. More than 300 EFTs are offered commission-free as well as an extremely impressive selection of mutual funds.

Clients can also enjoy $0 commission on U.S exchange-listed stocks, with major markets including the NASDAQ and the New York Stock Exchange. As well as equities and IPOs, international stocks trading is also available on both the TD Ameritrade web platform and the more powerful thinkorswim trader.

In terms of forex currencies, TD Ameritrade offers over 70 pairs, surpassing most competitors and coming close to forex specialists. For those who are interested in low priced trades, you can trade in OTC penny stocks with TD Ameritrade. Overall, the lack of TD Ameritrade crypto trading is more than made up for with the rest of their trading options.

80/100
Rating
TD Ameritrade Highlights
  • Excellent crypto research tools
  • Low trading fees and commission rates
  • Mobile trading app available

Do We Recommend TD Ameritrade?

Overall, it’s easy to see why TD Ameritrade was named the best overall broker in 2020, as they’re still at the top of their game in 2021. This true American brokerage has risen from humble beginnings in the heart of Nebraska to become one of the slickest and most trusted online trading platforms in the USA today. Add to that $0 commission fees, excellent customer service and multi award-winning educational tools, and we think you truly have a winning recipe.

There are naturally some drawbacks, with the lengthy withdrawal times and the lack of proper cryptocurrency trading. However, that looks to be on the very near horizon and the TD Ameritrade customer service team are keeping us constantly up to date with the changes. Would we recommend TD Ameritrade in the here and now? 100% yes!

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