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TD Ameritrade

TD Ameritrade
Overall Satisfaction Rating 3.84/5
  • 5 stars
    108
  • 4 stars
    130
  • 3 stars
    67
  • 2 stars
    15
  • 1 stars
    38
Based on 358 ratings submitted in the last year

This company is not yet authorized. See reviews below to learn more or submit your own review.

TD Ameritrade is an online broker of investment trading. It supports a variety of investment products, including stocks, ETFs, options, mutual funds, annuities and cryptocurrency trading. It provides free educational materials, proprietary tools and software, portfolio management and customer service to support investors. Some trades require no commission, and the company is transparent about other fees.

BOTTOM LINE

TD Ameritrade is an online platform for many types of investment products. It offers educational resources and free trading platforms to account holders. It also provides managed-portfolio services.

PROS
  • No commission on certain trades
  • Educational resources
  • Professional trading software
  • Transparent fees
CONS
  • $0 commission only for U.S. trades
  • Crowded website

Top TD Ameritrade Reviews We Found

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Rated with 5 stars
Verified Reviewer

TD Ameritrade has made my investing go smoothly... When I first opened my account I was very new to investing but with their mobile app and online tools together with live support I actually feel like a pro and I have seen my investments go up 100%... 100 stars if I could.

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Rated with 5 stars
Verified Reviewer

For online trading accounts TD Ameritrade surpasses Robin Hood and Wee bull in spades. It is the only brokerage account that you can actually speak to somebody in person right away. You cannot contact anybody by phone with the other two and that is huge for beginners.

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    What is TD Ameritrade?

    TD Ameritrade is an online broker of investing and trading services. It offers online tools and web and mobile platforms for users to trade easily, test investment strategies and perform analyses. Its investment products include:

    • Stocks
    • ETFs
    • Mutual funds
    • Options
    • Futures
    • Forex
    • Cryptocurrency trading
    • Bonds
    • Annuities
    • IPOs

    The company also provides cash solutions and managed portfolios. Its online stock, ETF and options trades result in $0 commissions. Trades of other investment products and all broker-assisted trades require fees, however.

    In addition to trading, TD Ameritrade also provides educational materials and guidance on its website to help you get your investments in order and reach your goals.

    How does TD Ameritrade work?

    With TD Ameritrade, users must open up an account before buying and trading. The company’s account options include:

    • Standard Accounts for most individual and joint accounts
    • Retirement Accounts including Traditional IRAs, Roth IRAs and Rollover IRAs
    • Education Accounts for education costs
    • Specialty Accounts including trusts, pension plans and others
    • Managed Portfolios in which a TD Ameritrade professional manages your portfolio for you
    • Margin Trading for investment borrowing

    After opening your account, manage it with TD Ameritrade’s platforms and apps, including:

    • Web platforms: These have all the tools to research, plan and stay up to date on market trends.
    • thinkorswim Desktop software: Offers high-powered tools that enable analysis, strategy testing and risk/reward monitoring.
    • thinkorswim Web app: Offers the same options as the desktop software but designed for the internet.
    • Mobile trading: Lets you manage your trading from multiple devices. This platform even has an option for staying on top of your trades via an Apple Watch.

    Through these platforms, you can research stocks, place trades and manage your portfolio.

    TD Ameritrade fees

    TD Ameritrade’s fees depend on the investment product and the level of service you require, but all online trades of U.S. exchange-listed stocks, ETFs and mutual funds require $0 commission. Fees for other investment products and services range from $0 to $49.99.

    Before buying and trading with TD Ameritrade, review all commissions, brokerage fees and margin and interest rates. The company has transparent and up-to-date fees on its website.

    TD Ameritrade FAQ

    Is TD Ameritrade good for beginning investors?
    Yes, TD Ameritrade has resources for beginning investors and platforms that guide you through the trading process.
    Can you use TD Ameritrade for mobile trading?
    Yes, TD Ameritrade has a platform that is specifically for mobile trading.
    Does TD Ameritrade have an app?
    Yes, TD Ameritrade has an app that allows you to manage your accounts on the go.
    Does TD Ameritrade offer mock trading?
    Yes, TD Ameritrade offers a virtual stock market simulator called paperMoney.

    Is TD Ameritrade safe?

    Yes. TD Ameritrade is a trusted company with a long-standing name in investment buying and trading, and it’s stayed up to date with its technology and online resources. It offers a diverse array of investment products, account types and trading tools. Plus, TD Ameritrade offers some trading with $0 commission and is transparent about all other fees.

    TD Ameritrade Reviews

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    How do I know I can trust these reviews about TD Ameritrade?
    How do I know I can trust these reviews about TD Ameritrade?
    • 3,053,342 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: April 10, 2021

    I am new to trading and moved over from just saving in Acorns and a savings account to investing in safer stocks in the Dow Jones. I am taking a class about covered calls and volatility trading but am super new to the whole idea. I love that I can get on the phone and chat through any question big or small and the TD team will always spend time explaining things and even make suggestions and teach me new methods of trading.

    I’ve never had a customer service experience quite like this, where I genuinely feel like the person on the end is there to not just problem solve with me, but go above and beyond and just chat. It feels like real support. Instead of answering my question and saying “is there anything else I can help you with” they answer and then having heard what I said make really smart follow up recommendations for things I can learn on the TD education videos, or literally to talk me through how I could optimize my trade next time with actual examples in my portfolio.

    Best experience I’ve ever had with any company. I still don’t really understand how they can do this in a day and age where companies seem like they’re trying to enhance speed and reduce call times. It’s like I have a whole squad of people there to help me and I never wait on hold for longer than 2 minutes. Literally incredible. My husband switched from Robinhood because they really offer no help or support and recently with GameStop showed us that they don’t really care about their customers. TD Ameritrade for the win!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Dec. 1, 2020

    TD Ameritrade has made my investing go smooth and very easy to understand. When I first opened my account I was very new to investing but with their mobile app and online tools together with live support I actually feel like a pro and I have seen my investments go up 100% thanks to counseling and advice on which ones I should make at the right times!! 100 stars if I could.

    9 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 30, 2020

      TD Ameritrade is the second app I tried for investing. The first one arbitrarily deducted money from my account. But with TD Ameritrade, things are easy to use, no hidden fees, it feels sophisticated and I don't feel taken advantage of. I went with TD Ameritrade because I have a TD bank account which made me trust the app even more.

      6 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 26, 2020

      I had investments being held in many different financial firms which was very difficult to manage. TD Ameritrade helped me receive a tremendous amount of assistance in gathering all the various investments. This was not an easy task as each brokerage had so many different requirements. It took almost a year to gather them all to consolidate.

      3 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: Nov. 25, 2020

      Picking an online broker all depends on your focus, investing or trading, as well as access to technical indicators and 'probability' numbers. For options as well as stocks, Thinkorswim, part of TD Ameritrade, has by far the best platform. They also provide written confirmations and live people to talk to, something other firms exclude. However, if you have a 'portfolio margin account', this firm will treat you very badly, as they will indiscriminately liquidate positions without your knowledge or approval, prior to realizing they were wrong.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 24, 2021

      I have been trading on the TD Ameritrade platform for years trusting that their stock quotes were truly real time and accurate market prices. However, I recently started using a secondary trading platform just to try it out and realized that the stock prices reported by TD Ameritrade were a cent or two off the real market price. For instance, if I'm a selling a stock for $2.45 they won't execute my order until it is actually $2.46 on the competitive platform. Hence, TDA makes $0.01 off of every stock share I sell. After informing them about this discrepancy between the stock quotes on their platform and the actual market's stock prices, they claimed that they would report this problem to their "software vendor"! Software vendor? Really?? The only explanation for this is one of two things: (1) cheating or (2) faulty trading platform. Either way, this is a huge problem considering that TDA is one of the major trading platforms in the USA!

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 15, 2021

      I tried to purchase a small amount of one hundred into some shares. The deposit took a week to finalize... Lag-athon... Then I tried to purchase and only half of my orders were filled. With only 47$ of my money used. I tried to use the rest and invest again on what I did as it was on a lock... Lo and behold... Their awkward commentary kept me from bidding on shares that blew up and this company kept me from my hard earned cash to be invested. So, now I'm stuck on stupid waiting an hour and a half, probably due to every client is fed up and over his ancient archival relic of an investor... Get to par with the times or drop out of the race guys... and hurry up and refund my cash...

      13 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 11, 2021

      I liked TD Ameritrade until they doubled my trade. I bought 2000 shares of a security, sold it a few minutes later after reaping profits (and the price had just started dropping), and a minute later (unbeknownst to me) they submitted a duplicate buy order. I noticed that my day gain, which WAS green, was rapidly becoming very red. I quickly looked at my open positions and realized that I somehow had 2000 shares remaining. "WTF?! I only bought 2000, which I just sold!" To stop the hemorrhage, I hastily sold these remaining shares, at a $2500 loss, and looked at my transaction history. I then discovered what happened. I called them and, after 90 minutes on hold, I spent another hour trying to get them to fix THEIR screwup, but they refused to admit fault. When I politely told the supervisor that this was unacceptable and that I will find a different broker, he hung up on me.

      20 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 10, 2021

      Investors beware. TD Ameritrade sold my stock without my knowledge. I was sound asleep on the coach and woke up to find my stock had been sold. I called TD Ameritrade and waited over an hour for customer service to answer the phone, I explained what happened and they said I made the trade on Think or Swim. I told them I was sleeping and never used Think or Swim to buy or sell stock not ever. They told me they couldn't help me. What a bunch of crooks.

      16 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Feb. 10, 2021

      I invested 300K, every penny I had with TD Ameritrade to day trade, as soon as I did this they offered me an extra $300K to trade with making it 600K...they proceeded in manipulating every trade I made, whether a buy or sell. They would never trade at the market price and sometimes not close to the market price by the time they made the trade...they knew It was my first time day trading and they coaxed me into trading more by giving me $300K extra, knowing that would only speed up the time in which I would lose my money....they are predators...just looking to empty one client's account to another to go on to the next poor investor to take advantage of....they should be ashamed of themselves as they have destroyed a man's life by never giving him a fair chance to make a living.

      13 people found this review helpful
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      TD Ameritrade Company Information

      Company Name:
      TD Ameritrade
      Website:
      www.tdameritrade.com