Is TD Ameritrade brokerage and IRA (ROTH, Traditional) account free of charge to open and use? Is stock trading on Thinkorswim free to all customers?


Is TD Ameritrade Free To Use?

The answer to the question "Is TD Ameritrade Account Free?" is Yes and No. "Yes" - it costs nothing to open and have an account at TD Ameritrade - there are no annual account fees as well as no setup, maintenance or inactivity charges. And "No" - if you wish to buy or sell a stock, ETF, or mutual fund there are usually broker commissions to pay (with some exceptions mentioned below).

To open a non-retirement or retirement account at TD Ameritrade there is no initial deposit requirement. You can do it with $0.

TD Ameritrade charges flat-rate $6.95 per trade commission for stocks and ETFs, for unlimited shares and without any volume requirements. The firm has no IRA fees, aside from outgoing account transfer charges. There are no account inactivity and maintenance fees.

TD Ameritrade offers 300 commission free ETF's as well as about 3,000 commission free mutual funds. Their promotional offer allows trading for free for 60 days - definitely take advantage of it.


Promotion


Open TD Ameritrade Account


Is TD Ameritrade Thinkorswim Free?

Thinkorswim is the flagship desktop trading platform at TD Ameritrade which is considered the best in the industry. It's a software for active traders, day-traders and professional investors. Amazingly, Thinkorswim is available to all TD Ameritrade clients free of charge. Most other brokers either charge fees, have strict access requirements or don't offer advanced trading platform.


All TD Ameritrade Commissions

ProductPrice
Stocks and ETFs $6.95
Stocks and ETFs broker assisted $49.99
Options $6.95 + $0.75 per contract
No-load mutual funds $49.99
Treasuries at auction $25
All other bonds and CMOs, CDs on a net yield basis
Futures$2.25 fee per contract (plus exchange & regulatory fees)
Forex Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.
PromotionTrade free for 60 days + get up to $600.



TD Ameritrade Review and Rating

4.5-star brokerage firm rating



Establishing an IRA at TD Ameritrade

While some retirement savers prefer the safety and consistency of FDIC-insured bank products, others will want higher returns. Bank's 1.00% yield is consistent and protected, but it is not nearly as high as what a brokerage account could possibly do. However, a securities account isn't protected by the FDIC. Instead, brokerage houses can join the SIPC, which provides insurance up to $500,000, including $250,000 for cash balances. The SIPC is Congressionally-mandated but funded by its member brokerage firms.

TD Ameritrade participates in the SIPC program. In addition to providing twice the amount of insurance that FDIC can offer, TD Ameritrade also has a wide range of securities that can be traded inside an IRA. The broker has stocks, bonds, ETF's, and mutual funds. These assets are more volatile than bank products, but offer higher return potential than at banks.

TD Ameritrade customers can select from a variety of IRA's. The broker has Traditional, Roth, SIMPLE, SEP, Rollover, Minor Traditional, and Minor Roth accounts. There are no fees for any of them. Other brokerage houses, by comparison, do charge IRA fees. Fidelity customers, for example, must pay $50 to close an IRA; while Ally Invest charges $50 for an IRA below $2,500 that hasn't placed any trades in the preceding 12 months.

The commission schedule at TD Ameritrade applies to both retirement and non-retirement accounts. ETF and stock trades are $6.95 per side. The broker offers live representatives to help clients place a trade. Using this service costs $44.99. Paper statements are free for accounts with balances above $10,000.

What really attracts retirement savers to TD Ameritrade is its large selection of funds. There are over 100 ETF's that can be traded without paying any commissions. There are also over 2,000 mutual funds that carry no load and no transaction fee. In total, the firm's customers have access to more than 11,000 mutual funds. There are also target-date funds available at TD Ameritrade. These are mutual funds that become less risky as retirement approaches.


Safest IRA Account


Another feature of TD Ameritrade that attracts many investors is its great customer service. The company has more than 100 brick-and-mortar locations that provide extra in-person service, which may be of value to investors trying to plan for retirement.


Retirement Education

TD Ameritrade, by contrast, has more retirement resources on its website. For example, there are IRA calculators that can be helpful in retirement planning. One tool determines when a user can begin making withdrawals from an IRA penalty-free. Another takes users step-by-step in choosing a Traditional or Roth account. The broker also has videos and articles on a range of retirement topics, such as 401(k) rollovers.


Is Thinkorswim Free Summary

TD Ameritrade's method of investing is more complex than at a bank, but offers higher return potential. The company is a safe bet.


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