In-Depth Analysis

TD Ameritrade Review 2024

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Written By
I. Mitic
August 14, 2023
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With abundant investment options like stocks, ETFs, mutual funds, forex trading, and more, TD Ameritrade is rightly thought of as one of the best online investment brokers.

We’re not talking about a simple platform you visit to buy stocks online. All kinds of accounts are available here, accommodating your specific financial goals. With TD Ameritrade (AMTD), you’ll get your hands on various investment options alongside an excellent ROI ratio.

Expert advice and educational resources are all available as well, helping you reach these goals. Online TD Ameritrade reviews confirm the company’s competence in the field and keep the broker’s ratings consistently high.

Deposit Minimum:

Broker-assisted trades: $25.00

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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Account Minimum:
Deposit Minimum:
Broker-assisted trades:
Withdrawal times:
Up to 4 business days
24/7 Phone
Account Management Fee:
Options fees:
$2.25 per contract
Withdrawal Fee:
BBB Rating:
pros thumb up Strengths
  • A range of investment products and accounts
  • Zero-commission policy
  • Top-rated digital tools
  • Knowledgeable support
  • Beginner-friendly investment systems
pros thumb up Weaknesses
  • Digital tools may be confusing for some beginners

TD Ameritrade Overview

As one of the most well-known stock brokers online, TD Ameritrade offers a range of products and the thinkorswim platform, which is widely praised by users across TD Ameritrade reviews.

Formerly known as Ameritrade, the company has been around since 1971. In 2006, it acquired a rival company, TD Waterhouse, owned by the Toronto-Dominion Bank. In 2019, the Charles Schwab Corporation bought the company, while the bank retained 13% of ownership rights in the combined firm.

The merger is expected to close between April and September 2023. Until then, Charles Schwab and TD Ameritrade will operate separately, but the new owner has made it clear it will keep thinkorswim, the most feature-packed of all TD Ameritrade platforms.

The platform combines different types of investments with an easy-to-use electronic system and gives account holders of all levels modern trading options. The expertise is backed up by years of experience and extends to the education and support teams.

Recent customer reviews have been all over the place, but some users say that if you want to avoid slow response times, you should contact support after hours.

Top Features of TD Ameritrade

The company’s main strengths go head-to-head with those of other industry leaders:

  • Investment products – The most popular and profitable investment choices are offered by TD Ameritrade: stocks, options, ETFs, futures, and different cash solutions.
  • TD Ameritrade web platforms and apps – TD Ameritrade brokerage tools and platforms such as the thinkorswim desktop trading platform, the thinkorswim web platform, the thinkorswim mobile app, and TD Ameritrade Mobile App let you keep an eye on your investments and market trends wherever you are.
  • Zero commission fees – No TD Ameritrade commission fees apply for the online stock, options, and ETF trades, regardless of the recurrence or your account balance.
  • TD Ameritrade Network - The broadcast channel provides financial news, analyses, and actionable insights to investors, helping them keep abreast of market trends.
  • Investor education – Designed by a team of experts, additional educational tools are intended for both experienced traders and those new to the game.

Features for Improved Trading Performance

The online broker delivers features that give its traders an extra edge. Its 24/5 trading system enables extended schedules: 24 hours a day, five days a week, from Sunday at 8 p.m. ET to Friday at 8 p.m. ET. The overnight trading option means unlocking more international markets and opportunities.

TD Ameritrade’s order execution technology also uses advanced routing, which is important for securing the best prices. Executed market orders receive 98% better prices than the National Best Bid and Offer (NBBO), with net improvement per order currently at $1.32 per 100 shares.

TD Ameritrade Investment Products

TD Ameritrade’s trading choices deserve a special mention, so let’s take a closer look at the main products and some of their most useful attributes:

  • Stocks – TD Ameritrade stock order is routed through a dedicated system to receive the best price and timing.
  • Options – Comprehensive thinkorswim cross-device platforms help strategize your options trading. You can also follow live broadcasts or the latest stock market analysis.
  • ETFs – These securities come from TD Ameritrade’s top providers and are curated by Morningstar, a billion-dollar financial services company, and a leader in investment management and research.
  • Mutual funds – NTF mutual funds are added to the bunch, ensuring that your trading costs remain low.
  • Futures – Hundreds of charts give you insight into futures market trends and price changes.
  • Forex – TD Ameritrade forex reviews recommend the company’s thinkorswim platform as one of the top forex trading options on the market.
  • Managed portfolios – TD Ameritrade’s team will help you choose the right portfolio, whether it be low-cost automated or fully tailored to your specific needs.
  • Cash solutions – The cash management service include:

☑ A single account for all activities

☑ No monthly maintenance or ATM fees

☑ Interest-earning balance

☑ Unlimited check writing

☑ Online bill payments

☑ FDIC-protected IDAs

  • Bonds and Fixed Income – The Bond Wizard tool helps find fixed-income investments like bonds or CDs.
  • Annuities – High-ranking insurance carriers provide both fixed and variable annuities.

The company also makes room for IPOs, dividend reinvestment, margin trading, and a collateral lending program.

TD Ameritrade Account Types

In addition to numerous investment choices, TD Ameritrade’s users can cherry-pick from its diverse selection of account types:


This flexible basic account incorporates the following categories:

  • Individual
  • Joint Tenants with Rights of Survivorship (JTWROS)
  • Tenants in Common
  • Tenants by the Entireties
  • Community Property
  • Guardianship or Conservatorship


Businesses, employees, and other interested parties can find the right pension plan here, such as:

  • Roth IRA
  • Rollover IRA
  • Solo 401k

These accounts are popular, and TD Ameritrade Roth IRA reviews typically commend the no-fuss setup process.


While these accounts include options for minors, they are primarily aimed at students and are used for college savings and educational expenses. The available accounts are:

  • 529 Plans
  • Coverdell Education Savings Accounts
  • UGMA/UTMA Custodial Accounts


From traditional trusts to specific small-business plans, the following accounts are well suited for your personal and professional needs:

  • Trust
  • Limited Partnership
  • Partnership
  • Limited Liability
  • Investment Club
  • Sole Proprietorship
  • Corporate (profit or non-profit)
  • Non-Incorporated
  • Small Business Plans
  • Charitable

Managed Portfolios

The following goal-oriented accounts are accompanied by continuous monitoring and investment guidance:

  • Essential Portfolios
  • Selective Portfolios
  • Personalized Portfolios

TD Ameritrade Fees and Prices

Reviews of the TD Ameritrade brokerage system praise the platform’s zero-commission policy for online trading. Do note that this applies only to US exchange-listed stocks, ETFs, and options trades. For over-the-counter (OTC) online stock trades, you’ll incur a $6.95 fee.

TD Ameritrade doesn’t charge an inactivity fee, and no matter what kind of account you have, the company won’t charge you for account maintenance. Furthermore, no trade minimums, platform, or data fees apply, and TD Ameritrade checking reviews mention that online reorders of 100 checks are free of charge as well.

Naturally, there are still some services you’ll need to pay for, especially if you have additional requests. TD Ameritrade fees for options, for example, are $0.65 per contract, but you’ll need to throw in an extra $25 if you opt for broker-assisted trades. 

In addition to regulatory and exchange fees, futures trading costs $2.25 per contract. When it comes to bonds or CDs, the amount charged will be based on the net yield.

TD Ameritrade Mobile Platforms and Features

Our TD Ameritrade app review revealed stellar service. The featured tools are all designed and backed by experts in the field to maintain high industry standards.

The thinkorswim mobile, desktop, and web platforms encompass a full-featured dashboard for your charting, data, and up-to-date news, with no thinkorswim fees to worry about. You can engage in overnight stock trading, monitor options statistics, or further your investment skills by consulting the company’s educational resources.

In addition to the thinkorswim cross-device trading platforms, the TD Ameritrade Mobile App is there to help you track your investment activities, manage price alerts and charts, and keep you updated on the latest analyst reports.

Customers’ TD Ameritrade platform reviews confirm the apps’ good streaming and research capabilities, although some users have trouble locating tools, as well as switching between the systems to access the entire selection.

Education, Support, and Practice Tools

If you are unsure how or where to invest your funds, you can always lean on TD Ameritrade’s dedicated support and development sectors. With advisors, interactive educational courses, articles, and videos made for various levels of expertise, you won’t need to look further than the TD Ameritrade website for financial tips and tricks.

Speaking of different trading proficiency levels, many TD Ameritrade reviews, ratings, and online recommendations applaud the platform’s adaptability to investors with little or no trading experience. If you are thinking about entering the trading world, this would be the place to start.

PaperMoney®, the company’s trading simulator, is another useful tool for beginners. Once you open a TD Ameritrade account, you’ll automatically be registered for the paper trading practice account and can start learning the ropes without risking any real funds.

The account’s virtual money balance is $100,000, which you can access through the thinkorswim platform.

Finally, TD Ameritrade’s trade desk and its specialized support team of seasoned floor traders provide invaluable help and advice on almost all aspects of the industry. The consultants are on hand around the clock to back you up and answer your queries.

TD Ameritrade Research Partners

The third-party research partners of TD Ameritrade give you high-quality data, reports, and analysis of the market, which helps you make the right decision at the right time. Among the industry leaders at your disposal, names such as Morningstar and Thomson Reuters pop out.

The varied investment research tools include:

  • Market Edge
  • ETF Market Center
  • Stocks Overview
  • Stocks Charts
  • Screeners
  • Premier List
  • CD Center
  • Bond Wizard
  • Market Java

How Does TD Ameritrade Compare to Other Leading Online Brokers?

TD Ameritrade Logo
TD Ameritrade
Account Minimum:


Broker-Assisted trades Fee:


Interactive Brokers Logo
Interactive Brokers
Account Minimum:


Broker-Assisted Trades Fee:

$0.01 per share (minimum order 10,000 shares)

E*Trade Logo
Account Minimum:


Broker-Assisted Fee:


TD Ameritrade Customer Reviews

Most of the good things that TD Ameritrade customers say about the company are about how flexible the platforms and tools are. TD Ameritrade’s ratings range from 1.13 out of 5 on the Better Business Bureau to 3.8 out of 5 on ConsumerAffairs.

Of course, you’ll run into TD Ameritrade reviews and complaints that adversely affect the overall ratings. Most of the posted complaints seem to be about customer support’s delayed responsiveness. 

In short, these ratings vary greatly depending on the source. For example, different TD Ameritrade mutual funds reviews praise its extensive array of transaction-free mutual funds, while reviews on Trustpilot are overwhelmingly negative.

In the sea of all kinds of online sources, we have seen various pros and cons of TD Ameritrade highlighted by users. Nonetheless, we’ve concluded that the platform’s extensive consulting sector is one of the things that seem to keep users coming back.

Overall Impressions

While getting acquainted with all the different features can initially seem a bit confusing, we’ve found that even users with no previous trading experience get around the platform well. Apart from more than enough tools, you’ll be greeted with zero-commission fees and countless investment opportunities.

With the completion of the merger with Charles Schwab fast approaching, we’ll soon see which other TD Ameritrade platforms will be kept in addition to the thinkorswim. 

There’s some good news for those looking to make small investments and wondering if TD Ameritrade will soon have fractional shares. The online broker doesn’t currently offer fractional shares, but Charles Schwab does, and the combined company is expected to have this investment option in its range.

The platform’s broad spectrum of digital tools and services complement the range of advanced trading options. On top of that, no hidden fees will lurk around every corner, waiting to drain your account.

You can follow up on your investments from virtually anywhere. For on-the-go trading or market monitoring, just download the TD Ameritrade or thinkorswim from your phone’s app store, and you’re ready to go.


Is TD Ameritrade good for beginners?


TD Ameritrade is a good place to start your trading journey. Every step of the way, you’ll have different sources to assist you in navigating through your investment decisions, as well as professional guidance, should you need it. This includes not only traditional customer support services but a dedicated team of experienced floor traders as well. 

The site’s resource library is always available, offering free content for all levels of trading experience. Another major plus that many TD Ameritrade reviews put a spotlight on is the broker’s paperMoney simulator, which gives you risk-free virtual money to test your trading skills.

Can you make money with TD Ameritrade?


You can profit from your trading activities with Ameritrade. Various factors need to be considered in the process, though. The good thing about this company is that TD Ameritrade’s rates and fees remain competitive, helping you maximize your investments. The platform also gives investors of all levels access to a wide range of free tools that can help them. 

With that in mind, it’s safe to say you stand to benefit from this online broker’s services. TD Ameritrade reviews remain favorable as well.

How much money do you need to open a TD Ameritrade account?


Although there are no official minimums for opening an account at TD Ameritrade, the first deposit must be at least $2,000.

Is TD Ameritrade safe?


As a subsidiary of The Charles Schwab Corporation, TD Ameritrade is regulated by the US Securities and Exchange Commission and the Financial Industry Regulatory Authority. TD Ameritrade is also a member of the Securities Investor Protection Corporation, which protects its members’ securities customers up to $500,000. 

Does TD Ameritrade have fractional shares?


TD Ameritrade has no fractional shares on offer. Still, the investment option is expected to be available once the merger with Charles Schwab is complete, which is expected to happen in the first half of 2023.

Is there a monthly fee for TD Ameritrade’s services?


TD Ameritrade reviews show there are no fees, monthly or otherwise, for account maintenance or inactivity. Several other services are also free of charge, such as ATM withdrawals. Feel free to check the dedicated section of our review for more information on the company’s pricing.