TD Ameritrade Broker Review
TD Ameritrade is a leading American online brokerage firm based in Omaha, Nebraska. Although the company became a publicly held organization in 1997, it had been in existence since 1983. TD Ameritrade started as an investment banking firm and a clearing broker before transitioning to an online investment system in 1995.
Trading Tools And Platforms At TD Ameritrade
TD Ameritrade boasts some of the most sought after online trading features that range from web, trade architect, ThinkorSwim and mobile trading. The platform you choose is very important as it helps you become a more confident investor.
Web Platform: The web platform can be described as the most convenient for serious investors. Accessible features on the web platform range from alerts, screeners to an easy to customize workspace.
Trade Architect: For investors who would rather monitor every aspect and market change around the globe, the trade architect has been revered as ideal. The platform keeps you updated by providing live news streams from the corners of the world. Trade architect can be a personal choice for active investors and traders.
ThinkOrSwim: This is a dedicated platform as described by TD Ameritrade official site. ThinkOrSwim stands out as the most advanced and intuitive of all the platforms. It is designated for elite users due to its high-end tools and features.
Mobile Trader: TD Ameritrade has ensured that all clients are well connected and informed while on the go through the company’s mobile trader platform. Users are linked to streaming markets; they can also receive alerts on market changes as well as do research.
The educational resources at TD Ameritrade can provide more information on suitable platforms that both experts and novices can comfortably choose.
All platforms provide access to various tools such as products access, standard features, advanced features, idea generation and system compatibility.
New users can familiarize with the platforms by trading at commission free for 60 days. The support team can be reached any time of the day, every day for assistance by calling 800-454-9272, through email or by visiting any of the 100 plus branches all over the US.
TD Ameritrade Account Types
There are four types of accounts that one can open TD Ameritrade and start investing with the company. Either of the accounts is recommended based on the investor’s initial plan and attainable objective.
Standard Account: A standard account allows investors to access various tools and features ranging from objective research tools, products and easy to use platforms. A standard account can be opened as an individual or joint account with an option to upgrade in the future. Some of the features missing from the standard account include trading options, trading futures, and trading forex.
Retirement Account: This type of account is recommended to individuals who wish to pursue a retirement objective. Features such as IRA, Roth IRA or Rollover IRA are all available in the retirement account. Users are educated on how to calculate their taxes and the benefits associated with the same.
Education Account: This is an account suitable for users who wish to save enough money to put themselves through school, or save enough money to take their children or next of kin to school. The account is flexible in that it doesn’t require an expert to open and run. There are about 529 plans accessible from all states that support education accounts.
Specialty Account: The specialty account is a type of account for joint ventures such as business partnerships and proprietorships. The account can also be used by individual trusts and persons with interests of entering into pension plans.
According to TD Ameritrade, anyone with difficulties into deciding the most convenient account to open can contact them anytime for assistance. The support team is available on call 24/7 and emails are responded to immediately.
TD Ameritrade Payments And Withdrawals
Once you have established your account at TD Ameritrade, the next step is to fund it before you start trading. There are several ways in which accounts can be funded and withdrawals executed.
Electronic Systems: The minimum deposit to your online account is $50 while the maximum amount is $150,000. Depending on the type of account, however, the minimum and maximum figures may change.
Wire Transfer: A wire transfer at TD Ameritrade does not incur any cost when opening an account. In addition, wire transfers are processed almost immediately.
Cheque Payments: The official TD Ameritrade site states that cheque payments should be carried out carefully since there are chances of rejection.
Asset Transfers: When everything is in the clear, it’s easy to transfer assets from one individual to another. The benefits of using TD Ameritrade on this for account holders is that there is no minimum deposit or transfer fee required.
Stock Certificates: When you open an account with TD Ameritrade, you gain access to endless storage. Stocks are kept safe in your account at no charge thus offering you peace of mind.
TD Ameritrade is an American online financial trading company located in Omaha, Nebraska. The organization supports a list of accounts, payment types and features. The company’s Think-or-Swim platform is unique from other competing organization’s platforms in the world.