A $2,000 deposit is required to be considered for margin and options privileges, regardless of any promotional offer.
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,
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.
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.
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,
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.
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.,
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.
Pros: Best Charting
They have the best charting and option tools, but pricing is not the best.
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.
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.
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!