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You may remember TD Ameritrade in the news in 2020 when Charles Schwab took over the powerful brokerage platform. While we don’t know exactly what it will look like when the two companies officially unite in 2023, TD Ameritrade has distinguished its clients for a few reasons.
Today, TD Ameritrade offers something for almost every trader. Those who are looking to be more Laissez-faire can invest in mutual funds, while more active traders may opt for day trading and buying options and/or futures.
TD Ameritrade is the number one choice of many investors due to the broker’s high quality research, trading tools and expert advice when it comes to building a diversified portfolio.
Below, select TD Ameritrade’s current offering reviews to provide you with details on investment options, features and fees so you can decide if it’s a good fit for your needs.
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TD Ameritrade Review
Information about TD Ameritrade was collected independently by Select and has not been reviewed or provided by TD Ameritrade prior to publication.
Minimum deposit and balance
The minimum deposit and balance requirements may vary depending on the investment vehicle chosen. There is no minimum to open a TD Ameritrade brokerage account; A minimum investment of $25,000 for selective managed portfolios and a minimum investment of $250,000 for personal managed portfolios
Fees may vary depending on the investment vehicle chosen. There is no commission for trading stocks, ETFs and options; There are no transaction fees for hundreds of mutual funds; Managed portfolios charge an annual advisory fee: 0.75% to 0.90% for the first $100,000 for selective portfolios and 0.60% to 0.90% for personal portfolios (each, fees vary by portfolio and investment amount)
Trade stocks, bonds, mutual funds, ETFs, options, IPOs, futures, forex, margin and cryptocurrencies
Interactive courses and webcasts
There is no automated advisor service per se that is currently offered to new clients, but TD Ameritrade does offer target oriented portfolios, or so called “managed portfolios” (which used to be called “TD Ameritrade Essential Portfolios”). TD Ameritrade will recommend a managed portfolio based on your goals, risk tolerance and time horizon. The broker will then monitor, allocate and rebalance your portfolio on your behalf. However, the minimum investment and advisory fees are high, which we cover below in the Fees section.
TD Ameritrade’s diverse portfolio includes traditional retirement accounts, Roth, Rollover and SEP accounts for individuals. For small businesses, TD Ameritrade Solo 401(k)s, SIMPLE IRAs, and a pension or profit plan. Learn more about these accounts on the company’s website.
TD Ameritrade is competitive with other big brokers when it comes to low trading costs and investment options.
The medium has distinguished itself over the years, however, particularly in Thinkorswim®, a suite of professional-grade trading platforms for serious traders. The fully customizable software allows you to execute complex trades and gives access to premium trading tools. It is very important to clients that TD Ameritrade has publicly promised on its website that it will remain available once the company unites with Charles Schwab.
Both the TD Ameritrade website and the mobile app provide the ability to execute trades, access educational tools and receive a managed portfolio recommendation. Customers can access our 24/7 customer service hotline, text and direct messages online or in person at more than 175 branches.
The TD Ameritrade app is available for free download on both the App Store (for iOS), where it has 4.5/5 stars, and on Google Play (for Android), where it has 3.4/5 stars at the time this article appeared. It was written. Thinkorswim Stock Trading App The free one, which we recommend for seasoned traders, has 4.7/5 stars on the App Store (with over 250,000 reviews) and 3.8/5 stars on Google Play.
The minimum deposit and balance requirements vary depending on the TD Ameritrade account you select. Although there is no minimum to open a TD Ameritrade brokerage account, there is a high minimum investment required through managed portfolios: a minimum investment of $25,000 for selective managed portfolios and a minimum investment of $250,000 for custom managed portfolios. Managed portfolios also charge an annual advisory fee: 0.75% to 0.90% for the first $100,000 for selective portfolios and 0.60% to 0.90% for personal portfolios (for both, fees vary by portfolio and investment amount).
TD Ameritrade has long been a favorite with many traders, especially for the highly regarded trading platform TD Ameritrade. With this broker, you have many low cost investment options to choose from.
While the managed portfolios that they offer are an effective way to invest while being hands-off, you must have a large amount of money to take advantage of them. Those who are more interested in an automated investment solution like this one should check out the bot advisor alternatives. SoFi Invest®, for example, does not charge any account management fees and there are no minimum requirements. It offers a wide range of low cost ETFs and will automatically rebalance your portfolio on a quarterly basis. Read the full SoFi Invest review.
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Editorial note: The opinions, analyses, reviews or recommendations in this article are those of the editorial board alone, and have not been reviewed, approved or otherwise endorsed by any third party.