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| Feature | TD Ameritrade |
| Minimum deposit: | $0 USD |
| Withdrawal fee amount: | |
| Inactivity fee charged (Y/N): | N |
| Max leverage: | |
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| Number of instruments: | |
| Year founded: | |
| Time to open account: | |
| Demo account provided (Y/N): | Y |
| Countries of regulation: | |
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TD Ameritrade is a well-known name, and its branches can be found in towns and cities across the US – lending it a legitimacy that is not necessarily an option with other brokers. TD Ameritrade is a company which has a long history, and it dates back to 1975. It has made history on several occasions: in 1988, for example, it became the first firm to provide automatic trading services over touch-tone telephones.
TD Ameritrade charges several fees for its products and services which its traders should always be aware of. One of it’s main asset classes offered is options, and it will cost $6.95 plus another $0.75 per contract – which is a relatively high price. It also costs $75 US dollars to take all of your cash out of your account, so liquidating it could be an expensive business. However, it’s worth noting that there is a basic level of funds which needs to be kept in your account at all times – so you can dip in and out of your TD Ameritrade trading career as you please. There’s also no fee for inactivity, which marks out this broker again compared to others.
TD Ameritrade offers a wide variety of tools to its customers, and you’re likely to always be able to find one that will work for you. It provides, for example, a web platform which is handy if you’re planning to trade sat at your computer each time. You can also choose to use the thinkorswim platform, which offers excellent analytics services – although this will require installation. In terms of mobile apps, meanwhile, you will be able to make the most of the TDA Mobile app. Although this is only available on Apple’s operating system, there is also the TDA Mobile Trader companion to the thinkorswim platform.
Customers of TD Ameritrade have access to a whole host of top-end customer service options, so you will never have to worry about whether you can get in touch with them. It’s possible to access support over the phone 24 hours a day and seven days per week, although if your query is about something specifically technical, then you will need to ensure that you place the call between 7am and 6pm Eastern time. Text chat is also possible with this broker, and you can access that via Facebook Messenger and through the iPhone messaging service. If you’re in the US, there are almost 400 in-person branches to choose from. There does not appear to be a direct email address however, so Facebook is a necessity if you wish to email.
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