18+, new traders only, terms and conditions apply
TD Ameritrade is one of the most well-established online brokerage firms in the United States, offering a comprehensive suite of trading tools, educational resources, and investment products. Founded in 1975, the platform has built a strong reputation for its advanced technology, user-friendly interface, and extensive research capabilities.
One of the key strengths of TD Ameritrade is its flagship trading platform, Thinkorswim, which provides professional-grade charting, technical indicators, and a range of advanced order types. Additionally, the platform supports commission-free trading on stocks and ETFs, making it an attractive choice for both beginners and experienced traders.
This review will provide an in-depth analysis of TD Ameritrade’s features, fees, available assets, and trading tools, helping investors determine whether this platform aligns with their financial goals.
TD Ameritrade has a long history in the financial industry, dating back to its founding in 1975 as First Omaha Securities. Over the decades, the company has evolved into one of the largest and most trusted online brokerage firms in the United States, serving millions of clients with a diverse range of investment products.
Acquisition by Charles Schwab
In 2020, TD Ameritrade was acquired by Charles Schwab in a landmark $26 billion deal. This merger significantly expanded Schwab’s market presence and led to the gradual integration of TD Ameritrade’s services into Schwab’s ecosystem. Despite the acquisition, TD Ameritrade’s Thinkorswim platform remains operational and continues to be one of the most advanced trading platforms available.
Regulation & Security
TD Ameritrade is regulated by major U.S. financial authorities, ensuring strong investor protection:
- Securities and Exchange Commission (SEC) – Ensures compliance with financial regulations
- Financial Industry Regulatory Authority (FINRA) – Regulates brokerage operations
- Commodity Futures Trading Commission (CFTC) – Oversees futures trading activities
- Securities Investor Protection Corporation (SIPC) – Protects customer accounts up to $500,000 in case of brokerage failure
The platform also employs industry-standard security measures, including two-factor authentication (2FA), encryption protocols, and continuous monitoring to safeguard client assets and personal data.
Trading Platforms
TD Ameritrade offers a robust selection of trading platforms designed to meet the needs of various types of investors, from beginners to advanced traders. The broker provides access to Thinkorswim, its most powerful and feature-rich platform, as well as a web-based platform and a mobile app for convenient trading on the go.
Thinkorswim – Advanced Trading Platform
Thinkorswim is TD Ameritrade’s flagship platform, widely regarded as one of the most advanced trading tools available today. It caters to experienced traders who require in-depth market analysis, customization, and powerful execution capabilities.
✅ Key Features of Thinkorswim:
- Advanced Charting – Includes over 400 technical indicators, customizable chart types, and multi-timeframe analysis.
- Paper Trading – Allows users to practice strategies with virtual funds before committing real capital.
- Custom Scripts & Automation – Traders can use ThinkScript to create custom indicators and automated trading strategies.
- Real-time Market Data – Access to streaming quotes, Level II data, and news feeds for informed decision-making.
- Multiple Asset Classes – Supports stocks, ETFs, options, futures, and forex trading.
Thinkorswim is available in three versions:
| Version | Features | Best for |
|---|---|---|
| Desktop | Full range of tools, best performance | Active traders, advanced analysis |
| Web | No installation required, simplified interface | Everyday traders, quick access |
| Mobile | Charting, trading, alerts on the go | Mobile-focused investors |
TD Ameritrade Web & Mobile Platforms
For traders who prefer a simpler interface, TD Ameritrade provides a web-based trading platform and a mobile app, both of which offer a more streamlined experience compared to Thinkorswim.
✅ Features of TD Ameritrade Web & Mobile App:
- User-friendly interface – Ideal for beginners and casual investors.
- Commission-free trading – Supports stocks, ETFs, and options trading with $0 commissions.
- Basic charting and research tools – Includes market news, fundamental data, and watchlists.
- Mobile alerts & notifications – Real-time updates on portfolio changes and market movements.
While the web and mobile platforms are more accessible, they lack the advanced customization and analytical tools available in Thinkorswim, making them better suited for passive investors and long-term traders.
Account Types
TD Ameritrade offers a variety of account types to cater to different investment goals, whether you are a long-term investor, an active trader, or saving for retirement. Below is an overview of the main account options available.
Standard Brokerage Account
A flexible, all-purpose investment account that allows users to trade stocks, ETFs, options, mutual funds, and more.
✅ Key Features:
- No minimum deposit requirement
- Commission-free trading on stocks and ETFs
- Margin trading available (subject to approval)
Retirement Accounts (IRAs)
TD Ameritrade provides several tax-advantaged Individual Retirement Accounts (IRAs), which are ideal for long-term retirement savings.
| IRA Type | Tax Benefits | Best For |
|---|---|---|
| Traditional IRA | Tax-deductible contributions; pay taxes on withdrawals | Investors expecting lower taxes in retirement |
| Roth IRA | Contributions made with after-tax income; tax-free withdrawals | Those who want tax-free income in retirement |
| Rollover IRA | Transfers funds from an old 401(k) to avoid taxes | Individuals switching jobs or retiring |
Margin Accounts
For traders looking to leverage their capital, TD Ameritrade offers margin accounts, allowing users to borrow money to trade.
✅ Key Considerations:
- Requires a minimum balance of $2,000
- Interest is charged on borrowed funds
- Increased profit potential but also higher risk
Managed Portfolios
TD Ameritrade provides automated and advisor-managed portfolios for investors who prefer a hands-off approach.
✅ Options Include:
- Essential Portfolios – Low-cost robo-advisory service with automated investing
- Selective Portfolios – Professionally managed portfolios with customized investment strategies
These managed accounts are ideal for investors who want to delegate portfolio management while still benefiting from TD Ameritrade’s expertise.
Available Assets
TD Ameritrade provides access to a broad range of financial instruments, allowing investors to build diversified portfolios. While it supports most traditional asset classes, it does not offer direct cryptocurrency trading.
Asset Classes Offered
The table below summarizes the available asset types on TD Ameritrade:
| Asset Type | Availability | Details |
|---|---|---|
| Stocks | ✅ Yes | Trade U.S. and some international stocks |
| ETFs | ✅ Yes | Commission-free trading on most ETFs |
| Options | ✅ Yes | Advanced strategies supported via Thinkorswim |
| Futures | ✅ Yes | Includes index futures, commodities, and more |
| Forex | ❌ No | Not supported after Charles Schwab acquisition |
| Mutual Funds | ✅ Yes | Over 13,000 funds available |
| Bonds & Fixed Income | ✅ Yes | Corporate, municipal, and government bonds |
| Cryptocurrencies | ❌ No | Indirect exposure via futures and ETFs |
Stocks & ETFs
TD Ameritrade allows commission-free trading on U.S. stocks and ETFs, making it an attractive choice for long-term investors and active traders. The platform provides access to real-time quotes, earnings reports, and market research to support informed decision-making.
Options & Futures Trading
For advanced traders, TD Ameritrade supports options trading with multi-leg strategies, as well as futures trading across various asset classes. Thinkorswim offers sophisticated options analysis tools, including probability analysis and risk visualization.
Mutual Funds & Fixed Income Investments
Investors looking for diversified, professionally managed investments can choose from over 13,000 mutual funds, including no-load, no-transaction-fee (NTF) funds. Additionally, TD Ameritrade provides access to bonds, CDs, and fixed-income products for those seeking lower-risk investment options.
Cryptocurrency Exposure
Although TD Ameritrade does not support direct crypto trading, investors can gain exposure through:
- Bitcoin futures available on Thinkorswim
- Blockchain ETFs that track crypto-related companies
Fees and Commissions
TD Ameritrade is known for its competitive pricing structure, offering commission-free trading on stocks and ETFs while maintaining reasonable fees for other asset classes. Below is a breakdown of the platform’s pricing.
Stock & ETF Trading Fees
✅ $0 commission on online trades for U.S.-listed stocks and ETFs.
✅ No minimum deposit required to open an account.
Options Trading Fees
| Service | Fee |
|---|---|
| Base commission | $0 |
| Per contract fee | $0.65 |
| Exercise/Assignment | $0 |
Thinkorswim users can access advanced options strategies, including spreads, straddles, and iron condors, without additional base commissions.
Futures Trading Fees
| Futures Trading | Fee |
|---|---|
| Per contract, per side | $2.25 |
| Margin requirements | Varies |
| Cryptocurrency futures | Supported |
Futures traders benefit from real-time data, charting tools, and strategy backtesting on Thinkorswim.
Mutual Fund Fees
| Mutual Fund Type | Fee |
|---|---|
| No-transaction-fee (NTF) funds | $0 |
| Load funds | Varies |
| No-load funds | $49.95 per trade |
TD Ameritrade offers over 13,000 mutual funds, including thousands of NTF options for cost-conscious investors.
Margin Trading Costs
TD Ameritrade charges interest on borrowed funds in margin accounts. The rates are tiered based on the borrowed amount:
| Borrowed Amount | Interest Rate |
|---|---|
| Under $10,000 | 14.50% |
| $10,000 – $24,999 | 14.25% |
| $25,000 – $49,999 | 13.75% |
| $50,000 – $99,999 | 13.25% |
| Over $100,000 | 12.75% |
These rates are subject to change based on market conditions and the Federal Reserve rate policy.
Additional Fees
- Wire Transfers: $25 per domestic transfer, $40 for international.
- Broker-Assisted Trades: $25 per trade.
- IRA Closure Fee: $0 (no closing fees).
Overall, TD Ameritrade offers a low-cost trading environment, particularly for stock and ETF investors. However, active options and futures traders should consider contract fees when calculating costs.
1. Does TD Ameritrade charge commissions on stock and ETF trades?
TD Ameritrade offers commission-free trading for U.S.-listed stocks and ETFs. There are no commissions for online trades of stocks and ETFs, making it an affordable choice for traders. However, some mutual funds may have transaction fees, and broker-assisted trades incur a fee.
