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TD Ameritrade customer reviews: complaints, feedback from clients, pros and cons. Is the broker good?


TD Ameritrade Review

TD Ameritrade Review »

TD Ameritrade Account

  • Stocks & ETFs: $6.95
  • Options: $6.95 + $0.75 per contract
  • Mutual Funds: $49.99

Minimum to open: $0 for a cash account, $2,000 for an IRA.

A $2,000 deposit is required to be considered for margin and options privileges, regardless of any promotional offer.

In 2017, TD Ameritrade received 5 stars out of five in the annual Barron's Best Online Brokers Survey. TD Ameritrade was top online broker for long-term investors and for novices. The company is the only broker that receives the highest 5.0 score for research amenities among all firms participated in the ranking last year.

 

Current TD Ameritrade Promotion

Trade free for 60 days + get up to $600.

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TD Ameritrade Customer Reviews

by Arthur, 11/18/2017

Pros: Trading tools, website design, choice of investments

Cons: Commissions could be lower

Been with them since 2002. Great all around broker. Yeah, commissions are not cheap but they offer plenty of commission free products.

by M Stary, 11/13/2017

Pros:

Cons: Waiting for someone to answer the phone at TD is like standing in the checkout line at Wal-Mart.

My normal wait time for a CS rep to pick up the phone is about 8 minutes! Often times it's been over 10 minutes and sometime 12 minutes! Reps always give the same answer: "We're hiring more people and it take them time to get their licenses." This has been going on for about a year now. I have been a customer for over 10 years. It's unconscionable for someone who brags so much about their CS to truly have this kind of service.
I asked for a Manager to call me both with a rep and in an e-mail. Here's the response I got on 11.10.17: Hi Matt,

I see a notation from the last time your call went through to an associate. He noted that you wanted him to note that you had to wait more than 12 minutes for your call to be answered on a Sunday. Staffing is lighter on weekends than during the work week, for obvious reasons.

I have a simple solution. Almost any service need can be handled via e-mail. If you have some specific service needs, please let me know what they are. If I am unable to answer your questions, I will route your message to a department that can.
Thank you,
Mike Anderson
Client Services, TD Ameritrade
TD Ameritrade, Inc.

So, Mike says if you don't want to wait for 5 plus minutes for someone to answer the phone, that you should really use e-mail.
Really, that's their solution.
My assumption then is, is that Mike loves e-mail and hates talking to real people; and that waiting 12 minutes for someone to pick up is just fine for a billion dollar multi-national company.

by MH, 11/8/2017

Pros: site is okay - pricing okay

Cons: very bad customer response

very disappointed with their customer response - had someone being available for me by e-mail - he was moved to another post - no information received - to get someone new is a headache

by John, 4/4/2016

Pros: Online

Cons: Not responsive

I have asked TD Ameritrade to correct my 1099-B on multiple occasions. Hovever, not only have they not done so, they have not given me the courtesy of responding to my request.

by John H, 4/4/2016

Pros: Convenient, great tools in Think or Swim

Cons: Lousy default pricing of options both in the account balances and the order entry forms.

"Think or Swim" was, without a doubt, the premier options and stock trading platform, UNTIL PURCHASED by TD Ameritrade. Once they purchased ToS, they started changing it on a daily basis and these changes did/are not improving the product. I moved one of my accounts to TD Ameritrade because the other broker was not properly pricing options and NOW TD Ameritrade is doing the exact same thing. BUMMER! What are they thinking. For example they have priced options below the intrinsic value. Crazy!

I left TD Ameritrade about 15 years ago; maybe it is time for history to repeat itself.

by Andrew, 11/17/2015

Pros:

Cons:

I recently switched from E-Trade to TDAmeritrade for ThinkOrSwim and zero-commission Vanguard ETFs, but it was extremely disappointing to see that it does not use extended validation SSL certs... (E-Trade does) I am pretty sure they can afford it. Funnily Scottrade does have it.

by piptek, 11/14/2015

Pros:

Cons:

TD-ameritrade charge avg $4.50 RT on futures. The platform(TOS) has lot of features for options analysis , stocks, futures and forex. However After a opening 4 ActiveTrader(Chart windows) the platform starts crawling. The future feed is ok, slower compared to TTNET, CQG or Rhithmic. The best part is you don't pay any exchange(CME) fees monthly which is avg $15-20 in other brokerage firms. The exchange fee is waved in TD however they make up in the commissions. Good platform for analysis but definitely not for scalping. If you are a scalper look for Sierra, ninjatrader . TD doesn't offer price ladder or good volume analysis.

by Joe S, 7/30/2015

Pros: Good trading tools

Cons: Unreasonable delays, rules and fees regarding withdrawals

TD Ameritrade froze my funds on an incoming ACH cash transfer from my credit union to TD Ameritrade for 3 business days. It does NOT take 3 business days for an automated ACH transfer to "clear". In fact, other ACH transfers involving other institutions have always cleared THE SAME DAY.

Later, when my account was finally "unfrozen" by TD Ameritrade, I wanted to transfer some cash from TD Ameritrade back to my credit union. TD Ameritrade deducted the cash from my account (which cash had already met the unreasonable "hold" requirement), but then delayed transfering those funds to my credit union. In other words, TD Ameritrade took the money from my account, but then then held up the outgoing transfer. It's worth repeating: after TD Ameritrade had already deducted the cash funds from my account (over which they had 100% control), they then further delayed transferring it to my credit union. Why do they treat customers this way?

Conclusion: TD Ameritrade applies unreasonably long holding periods and makes it incredibly difficult for customers to withdraw their cash funds from a TD Ameritrade account. You might want to consider doing business with someone else.

by elliots, 7/7/2015

Pros: great chat rooms, educational offerings, charting tools, scanner

Cons: commissions are on high end

This is the place to go learn stuff. It is not the place to get low commissions. But overall I am a satisfied customer who believes that I paid for the education in higher commissions and got my money's worth.

by Shawn S., 4/15/2015

Pros:

Cons:

I've been with TD Ameritrade for a year now and I think they are the best online trader out there. The systems is easy to navigate and use, so is great even for beginners. The customer support know what they are talking about and have helped with a number of questions I've asked! They are one of the more expensive platforms, but it is worth the money.

by Westerntrader, 4/11/2015

Pros: Best Charting

Cons:

They have the best charting and option tools, but pricing is not the best.

by Bgdmanml, 4/8/2015

Pros:

Cons:

Was first introduced to ThinkorSwim through Investools a few years ago. At the time I think ThinkorSwim was a paid service. After a horrible experience with Investools I stepped away from the market and didn't think it was for me. After I found a much better education program I'm back at it and doing well. ThinkorSwim is LOADED with features! Once you get the hang of it you'll love it's ease of navigation and many useful features. Even if using other brokers for cheaper commissions I'd highly recommend ThinkorSwim for charting.

Also, ThinkorSwim is part of TDAmeritrade who has AMAZING customer service!!! I'd rate customer service ten checks if possible. Seriously the best customer service of any company I've ever dealt with, stock market related or not. I actually enjoy phone calls with TDAmeritrade. Whenever I've had an issue they were very prompt at resolving it.

Execution I gave 3 stars because I have had issues with executions but that may be user error. As I open with more brokers the larger I grow my funds I will most likely still use ThinkorSwim for my charting. I see it being hard to beat, especially once you're use to it.

by Phil, 12/8/2014

Pros: Cost

Cons: Change of appearance

Tda is AGA forcing a change of balance page appearance. New page has too much on it and it looks terrible on a large screen but is no usable on a mobile. On this iPad i now quit accessing Tda and will look for new broker who won't continually force changes on me.

by Arthur, 4/5/2014

Pros: Best trading platform, great research, pleasant website

Cons: High commissions

I have been TDA customer since 2000. One of the best companies in the business! Plenty of free services, free streaming level 2 quotes. Thinkorswim trading platform is fantastic!



Leading U.S. Brokerage Review Websites About TD Ameritrade


"...their fees and commissions are more pricy than with many other services. However, this also means they have had time to create solid day trading software with tools and resources to help you build your portfolio... Where this service stands out is the thinkorswim desktop platform for trading stocks, options, ETFs, futures and forex. It is one of the best trading platforms we tested and is customizable."

TopTen Reviews

"Any investor, new or seasoned, will find TD Ameritrade a great fit for their needs. The main gripe with the broker is cost, but what you pay for is what you get, and the quality delivered by TD Ameritrade is, without a doubt, worth the extra few dollars per trade."

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TD Ameritrade reviewed by former and current clients. TD Ameritrade customer reviews: 14. Rating: 4.