Opening account at TD Ameritrade for foreign residents, E.U. and non-U.S. citizens. Can international investors sign up with TD Ameritrade without SSN?

If you are a foreign investor outside the U.S. who wants to take advantage of TD Ameritrade’s commission-free trading, you are out of luck because the broker is currently only available to those residing in the U.S. There is, however, a broker that offers discounted trading and is open to most foreign investors - ZacksTrade.

ZacksTrade Website

Open ZacksTrade Account

ZacksTrade Overview

ZacksTrade offers investment accounts to residents of most countries. Requirements for opening account outside of the U.S. are fairly close to those in the U.S., and generally documentation for Proof of Address and Proof of Identity is required.

ZacksTrade supports trading in stocks, ETFs, mutual funds, options, and bonds.

Commissions, Fees, and Minimum Deposit

Stock and ETF trades are $0.01 per share ($1 minimum per trade), and for stocks priced below $1 the commission is the greater of $3 or 1% of the trade.

Mutual fund commissions are a flat $27.50. Options trades are $1 for the first contract and $0.75 for each additional contract.

Bond commissions are $3 per bond ($1,000 face value) plus a percentage of the trade which varies based on the size and the type of bond (Municipal, Corporate, or Treasury). The percentage can be as low as 0.005% for trades over $1 million face value or as high as 0.10% for face values under $10,000.

While ZacksTrade doesn’t have any account maintenance fees, they do require a minimum account balance of $2,500. Other fees to be aware of is they will charge you a monthly fee for real-time data unless you trade at least $30 in commission per month. Oddly, ZacksTrade only allows one free withdrawal per month, with all additional ACH withdrawals costing $1. Higher fees apply to withdrawals via check or wire transfer.

Trading Software, Tools and Education

ZacksTrade has a website that is used for managing your account but not for trading, that happens on their web browser, desktop, and mobile platforms. The web browser and desktop platforms offer the standard features you’d expect from all brokers, but charting is superior on the desktop app.

A plus of using ZacksTrade is that your account gets you free access to lots of education and research articles offered through the broker’s various partners, including Zacks Investment Research, Morningstar, and Seeking Alpha. Many of these partners are subscription-only, so free access through your Zacks account is a great deal.


ZacksTrade


Customer Service

ZacksTrade has an online chat feature; however we haven’t always been able to immediately get in touch with someone through this channel. On the bright side, Zacks also has dedicated phone support during business hours from 9am to 6pm EST Monday through Friday.

TD Ameritrade For Foreign Citizens Summary

In conclusion, if you are a non-US investor (and don’t hold a U.S. visa) you cannot currently open an account with TD Ameritrade. ZacksTrade is an excellent U.S. broker with comparable offerings that offers international accounts to citizens of most countries.

ZacksTrade Website

Open ZacksTrade Account




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