To date, TD Ameritrade has an extensive, impressive, positive history within the financial services industry with a multitude of features to fit just about any investor. So let's begin by going over everything they have to offer, then in the next section we'll talk about a few of the areas where we feel they could use a little improvement. Benefits include:

Trading Platforms

TD Ameritrade also offers a multitude of powerful trading platforms and tools, such as:

Web Platform - this feature suits investors at any level and provides third-party research and planning tools, educational resources and you can also track social sentiment and volume with social signals that pull insights from Twitter. You will enjoy social signals, alerts, stocks overview, screeners, SnapTicket, calendars, watch lists and their GainsKeeper calculator.
Trade Architect - this feature is an intuitive trading platform that offers live streaming news video from CNBC, generates ideas and identifies trends with stock and options screeners, as well as independent research. You can also manage trades from customizable, interactive charges that have a variety of technical studies. You will enjoy access to all their trading platform features, as well as access to Level II quotes, streaming news, and access to trading specialists.
thinkorswim - this feature is a professional-level trading platform for serious traders who want an elite level of tools to use for analysis and testing strategies, idea generation with market scans and the ability to monitor their potential risk/reward. It also has on-boarding tools such as thinkManual and Swim Lessons to help you get started quickly and easily. You will enjoy a full charting package, live streaming media, free education and support, futures, calendar spreads, complex options trades, Forex global currency map, consistent and frequent innovations, trade and market scans and a stock hacker.
Mobile Trading - TD Ameritrade is the leader in mobile trading and has powerful mobile offerings for investors and traders who want their choice of optimized mobile apps, such as iPad, iPhone, and Android for any mobile device and now includes the Apple Watch as well. You also have the ability to manage your investments and seize opportunities. Other popular features include idea generation, alerts, account monitoring, watch lists, events and a live market news option.

Investment Products

Additionally, TD Ameritrade offers a wide variety of investment products including Amerivest portfolios, annuities, bonds and fixed income, cash management, ETFs, Forex, futures, IPOs, mutual funds, options, and stocks. And their pricing is as follows: stocks $9.99 with broker assisted fees at $44.99 and interactive voice response (IVR) phone system fees at $34.99, ETFs with no commissions, internet at $9.99 and broker assisted fees at $44.99 and IVR at $34.99, options at $9.99 + 75¢ fee per contract, options exercises and assignments at $19.99 with broker assisted fees at $44.99 + 75¢ fee per contract and IVR at $34.99 + 75¢ fee per contract.

Support Options

TD Ameritrade has some fantastic support options, which include 24-7 phone and email support, live chat, fax, mail and more than 100 local branches nationwide. That means no matter when you need them, they are there to help 24-7. And that's important, especially when you're talking about your money.

Impressive History

TD Ameritrade has a very impressive timeline, which includes: 1988 - they were the first to offer automated trades via touch-tone phones,1995 - they acquired K. Aufhauser & Co,1997- they went public listing under the symbol, AMTD, 1998 - they launched their first national advertising campaign boasting a flat-rate commission offering of $8.00 per trade,1999 - they were the first to offer trading via mobile devices, 2001- they acquired National Discount Brokers Corporation, 2002 - they merged with Datek Online Holdings making them the largest brokerage firm in average trades per day, 2004 - they launched Amerivest, the first of its kind online investment advisor and QuoteScope as well, 2006 - they acquired TD Waterhouse USA from TD Bank Financial Group and became TD Ameritrade, 2009 - they acquired thinkorswim Group Inc. and announced the 20-year, $20 million naming rights agreement for Omaha's new baseball stadium to be named TD Ameritrade Park Omaha, 2010 - they brought complex options, futures and foreign exchange trading to their clients, 2011 - they unveiled Trade Architect and signed on as official sponsors of the United States Olympic Committee and in 2012 the U.S. Olympic Team and this has since been renewed through 2016 and includes the U.S. Olympic and Paralympic Teams, 2013 to present - they continue to grow and expand in leaps and bounds.

thumb_down

The Bad

Investigations
Online navigation
Client support

TD Ameritrade has approximately 5,800 full-time associates and 100+ branches in 34 states. Over the last five fiscal years, they have: gathered over $219 billion in net new client assets, had double-digit net new client asset growth, received multiple credit rating upgrades - moving from non-investment grade to single-A, increased their quarterly dividend by 20% in 2012, 50% in 2013, 33% in 2014 and 25% in 2015 and they have used $1.0 billion to buy back 56 million shares of their common stock. That being said, there are drawbacks prospective clients should be aware of:

Investigations

The State of Texas Securities Board launched an investigation relating to wire transfers being made from customers' accounts on the Institutional Platform; however, it was stated that TD Ameritrade failed to send the relevant customer notifications of the said wire transfers. This conduct was entered into due to the manual process TD Ameritrade was using at the time and resulted in them violating a Texas State Securities Board rule requiring securities dealers to maintain and enforce procedures that were designed to achieve compliance with the securities laws.

Online Navigation

The TD Ameritrade's website is great. It's easy to use, has plenty of extremely helpful information, and everything you need to know seemed to be covered. However, the one thing we found that we didn't like about their website was the fact that the main navigation bar doesn't show you what's on each page as you hover over any given menu tab. That means you have to actually click on the tab to see what's on a page. And that's extremely inconvenient for customers who don't want to waste time clicking around a website just to find the information they need.

Client Support

For being such a big, long-standing company, you would think they should have impeccable customer service. And although they have plenty of contact methods, their customer service, at least for now, is a bit poor. Many customers complain and lament that their employees are overbearing when it comes to their advice on making certain investment or trading decisions and this type of extreme pressure keeps customers from contacting customer service for assistance. This could ultimately cause those same customers to seek other trading options as no one likes to be pressured when they need trustworthy, honest, compassionate help the most.

Broker Fees

TD Ameritrade's stock commissions and broker assisted trade fees are much higher than their competitors; however, you do receive access to their premium research, data, analysis and multi-platform trading features for free. Therefore, depending on how often you use those features, TD Ameritrade may or may not be worth the extra costs.

gavel

The Bottom Line

TD Ameritrade isn't the best in the industry in any one particular function or another; however they are a solid company who understands what their customers need to succeed. Additionally, they know how to work with veteran traders and novices alike, while offering a multitude of tools for every type of investing need. TD Ameritrade appears to be a solid, reputable financial services company with a positive long-standing reputation in the industry. And although their trading commissions and broker assisted trade fees are much higher than the industry standard, so are their exceptional services, which pretty much makes it a trade-off. Therefore, we have no problem giving TD Ameritrade a good recommendation for beginning to advanced traders alike. However, just as with anything else, we urge you to perform your own due diligence, before deciding whether or not they are the right financial services company for you.

Was this content helpful?

thumb_up Yes thumb_down No

border_color Write a Review

User Reviews

Star Rating

4.3

star star star star star_half

32 Reviews

Review Breakdown

5 grade

53%

4 grade

38%

3 grade

2 grade

1 grade

Sentiment Criteria

Value

star star star star star_half

Quality

star star star star star_border

Service

star star star star star_half

Trustworthiness

star star star star star_border

cancel

star star star star star

Eddie Rios Ogden, UT

TD Ameritrade is probably the best site I have ever used for online trading. It boasts tons of educational tools and helps you understands the markets and trading concepts. It is a full services organization that offers every type of trade allowed. They focus on guidance and financial strategies that work. The portal makes trading easy and safe. Most importantly the transactions are timely and secure. Grade A+ to TD Ameritrade.

6 years ago

star star star star star

Robyn Brady Kent, OH

My husband I just started some day trading with the help of our 20 year old son. He recommended TD because the app pretty easy to navigate compared to the others. We haven't had any issues and have enjoyed learning about the stock market through their very interesting and informative app.

5 years ago

star star star star star_border

Cam Hall Palmyra, VA

I've used TDAmeritrade as my secondary account for trading (with Fidelity being my primary) for around 2 years, and I've appreciated its simplicity and straight forwardness. I've used Acorns and Robinhood, and think both of those options are very focused on a cool, stylish interface and obfuscating some of the details in favor of being fun and easy. I've also used options like ETrade and ComputerShare which feel far more clinical and complex, and can be intimidating for solo investors. I think TDA is a perfect middle ground where it's not super "pretty" or complex, but it absolutely does a great job for my secondary investment tool.

4 years ago Edited January 3, 2022

star star star_border star_border star_border

Pat Clements Redwood City, CA

I have had an account with TD Ameritrade for a number of years now and have been generally satisfied. Recently, however, it came to my attention that they decided to cancel my debit card and check-writing privileges. I found out when I went to purchase something with my debit card and it was declined. I looked at my account and sure enough, buried in my January 2022 "Secure Messages" (which I check maybe once every 2-3 months) was an email telling me TDA was cancelling these privileges without any explanation as to why. Needless to say, I called and spoke with an agent. The explanation the agent gave me was because of a reported fraud issue that occurred in 2017 (5 years ago!!!). I wil note that this issue was satisfactorily resolved at that time by virtue of me changing my login ID and PW. But, because TDA/Schwab reviewed the account 5 years later and saw this, they decided to cancel the aforementioned privileges without any kind of advance warning and only sent me an email letting me know. So, in a nutshell, > A fraud issue arose in 2017 > I did the right thing by changing my login and PW in 2017 > 5 years later (post the Schwab merger, I will add), somebody, unilaterally, decided there was still some kind of risk by letting me still have checking and debit card privileges. I am currently in the process of attempting to re-sign up for these services...but needless to say, this whole thing makes no sense and has made me question if I want to stay with TDA/Schwab or move everything to different brokerage account I have.

4 years ago

star star star star star_border

Paula Shearer Omaha, NE

TD Ameritrade has made online trading very easy. They have good educational tools as well. Their customer service is good, for the most part, although they do seem to gear toward younger computer users. It may be harder for older people may need to call in a couple of times.

5 years ago

star star star star star

TTeep Smithfield, UT

I moved to TDAmeritrade from etrade for one reason. They make it very easy to create conditional sell orders. Of course I like the no commission trades. And their ThinkorSwim platform is a great tool for learning how to trade.

5 years ago

star star star star star

AF ,

I'm definitely a novice when it comes to financing, but the TD Ameritrade website has some great information for beginners like me! Their website has some interesting and informative pages to help you understand more about their products/services. I like that.

6 years ago

star star_border star_border star_border star_border

David Port Saint Lucie, FL

You CAN NOT believe any statement made by a TD Ameritrade agent. If you lose money based on their statements, they will disavow and deny their statements. If they cannot deny their statements which caused your financial loss, the TD Ameritrade Regulatory Compliance Analyst will allege every minute detail to deflect liability from his employer, and that you signed contracts stating that your account is self-directed and nondiscretionary, and that you are ultimately responsible for your losses, even when the advice or information they gave you was totally incorrect or omitted important facts that they should have told you. If you are a victim of fraud, negligence, omission of vital facts, or violation of State or Federal securities laws, a complaint letter to TD Ameritrade will elicit a response in about 6 weeks, wherein the Regulatory Compliance Specialist will detail all of his broker's excuses and why you are so incredibly inept and incompetent to have lost most or all of your money. TD Ameritrade will never admit any wrongdoing and does not care if you and your family live or die, financially or otherwise, when your losses are based on their negligence, malfeasance and violation of securities laws

10 years ago

star star star star star_border

Simone Harris Tallahassee, FL

The educational aspect included in this companies website is very helpful and a good idea to spread financial literacy. However, the layout of the site is very crowded and not beginner-friendly. If one has the time to learn how to maneuver the website, I would say it's a worthwhile product.

5 years ago

star star star star star

Eban Beltran Arlington, TX

We used TD Ameritrade for an investment student club that had a $3M portfolio. It had all the features we wanted and expected at a low cost. Very easy to use and I heard good things about their customer service.

5 years ago

star star star star star_border

Brandon Farrow Gilbert, AZ

I use TDAmeritrade and ThinkorSwim to day trade stock. I love the ease of the platform and TD has had great customer service. I wish their short list was far longer and they occasionally have lag issues which hinders my trading.

5 years ago

star star_border star_border star_border star_border

Steven Rinehart Salt Lake City, UT

It's hard to describe how dishonest TD Ameritrade is. They frequently put restrictions on your account without warning which prevent you from making trades and from selling just as you are going to trade. You then loose the entire benefit of the trade while you try and work it out with them. I had one trade where they wouldn't place it, then wouldn't cancel it, and it cost me most of my portfolio. TD Ameritrade is dishonest.

6 years ago

star star star star star_border

Steve Colella Coraopolis, PA

I use TD Ameritrade to manage my personal stock investments. The app is fairly easy to use but some items are hard to find if you don’t know where they are located in the app. Trading is simple and straightforward.

4 years ago

star star star star star_border

peter harmatuk Poolesville, MD

Our retirement fund uses TD Ameritrade as its stock trading company. I have only used their on-line tools and have had no issues with them. They are easy to use and intuitive. over 20 years of use with no complaints.

5 years ago

star star star star star_border

Simone Tallahassee, FL

Great analysis of the account activity. Provides educational content on the website too! Interface is a little complicated and requires some research to fully maximize the tool.

5 years ago

star star star star star_border

Aaron Las Vegas, NV

Was much easier to sign up & get verified than WeBull, which gave me extensive issues at the time I made my decision. Has great utility but could stand to be a little more user friendly

5 years ago

star star star star star

Mason Allen Provo, UT

TD Ameritrade makes it easy to trade stocks, mutual funds, etc. There are no trade fees, which is a big plus. Informative research tools are also available for free.

5 years ago

star star star star star

J B Sandy, UT

I've used multiple platforms for online trading, TD stands out with first class service, and low trading fees, even on options.

4 years ago Edited January 21, 2022

star star star star star

Doug Foerch Vernon Hills, IL

I have used them for the past 8 years. They have done a good job with my investments. Their website is easy for understand.

4 years ago Edited January 5, 2022

star star star star star

Tomi Onikeku Tallahassee, FL

I currently have the app and it is easy to navigate. All of the information is in one place and it’s very convenient

4 years ago

star star star star star_border

Bethany Rockville, MD

TD Ameritrade is so easy for a beginner investor like me! It often reaches out to me to introduce their live events and other educational offerings!

5 years ago

star star star star star

Vicki H. Poolesville, MD

I use TD Ameritrade to manage my investments online. I find their site very useful and easy to use.

5 years ago

star star star star star

Steve Knight Salt Lake City, UT

I've had accounts with TD Ameritrade for several years and find them to be great at presenting research and ideas.

5 years ago

star star star star star

Amy N Sandy, UT

TD Ameritrade made it easy to track my investments. The website was easy to navigate.

4 years ago

star star star star star

Devin McClellan Eagle Mountain, UT

I love how easy this website is to use. It is really help me with investment decisions

4 years ago

star star star star star

Glenn Dalton Salt Lake City, UT

Easy to use site. Lots of support and information available to help make informed decisions.

4 years ago

star star star star star_border

Sharon ,

I made good money for a while but things stopped being dependable. Finally sold all my stocks. Not fun any more

5 years ago

star star star star star

Lizzie Billings West Valley City, UT

I love investing my money here and having the ability to be in full control of trading stocks.

5 years ago

star star star star star_border

Tony Riverton, UT

Opened my first stock trade account at TD Ameritrade. Only downside was their earnings info isn't always accurate.

6 years ago

star star star star star

Julia Lian Rockville, MD

it is low fee and easy to trade stocks. good customer service.

5 years ago

star star star star star_border

Simone Tallahassee, FL

Quite a learning curve, but features are very detailed and educational.

5 years ago

star star star star star

Jwat1213 New Market, MD

Easy to use. No charge for selling stock is great

5 years ago