TD Ameritrade charges nearly the highest margin rates of the online brokers we surveyed. Select competitors, like E*TRADE, may have shorter holding periods that appeal to certain types of investors. Just remember that like some of its competitors, TD Ameritrade charges a $49.99 fee if you sell most no-fee, no-load funds within six months of purchase. This selection of funds compares favorably with competing online brokers.
TD Ameritrade offers 13,000 mutual funds, including nearly 4,000 no-load, no-transaction-fee funds. Broker-assisted trades: $25 fee per transaction.Futures and futures options: $2.25 per trade.The commissions and fees the brokerage does charge are at rates broadly comparable to other services. TD Ameritrade charges zero trading commissions for online purchases of stocks and exchange-traded funds ( ETFs)-just like the rest of its major competitors. Users who are looking for a margin account may be better served by a brokerage with lower rates. Cryptocurrency assets are almost entirely absent from the platform, with the exception of Bitcoin futures.įinally, TD Ameritrade’s margin rates are among the highest charged by any brokerage evaluated in our survey.
TD Ameritrade’s few drawbacks include the lack of fractional share investing, which could leave newer investors at a disadvantage (Charles Schwab’s stock slices will likely be available within a year or so). For now, these two online brokerage platforms remain separate, although the companies plan to complete the integration of their services by 2023. Here’s one minor caveat that potential customers should keep in mind: TD Ameritrade was acquired by Charles Schwab Corp in 2020. Its extensive educational resources earned it first place in Forbes Advisor’s best day trading platforms listing. TD Ameritrade provides comprehensive learning resources, including classes in technical analysis, income investing, options, trading strategies, investment basics and more. Well-designed screeners help users narrow down the vast universes of funds, stocks and bonds to find the assets they need. It features access to trading specialists and superb customer service to help answer any questions you might have quickly and accurately. It offers customization, charting and analytical tools that are readily available on both mobile and desktop.
The thinkorswim trading platform is hard to beat. TD Ameritrade is well suited to the needs of both novice and experienced investors, especially those who are looking for a full-featured online broker that offers great educational resources.
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