Top rated brokerage firm for inherited IRA account in 2019. Best online IRA for beneficiary IRA.


TD Bank Inherited IRA Commissions and Minimum Deposit

ProductPrice
Stocks and ETFs $6.95
Stocks and ETFs broker assisted $49.99
Stocks and ETFs interactive voice response (IVR) telephone system $34.99
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 Bank Brokerage Account Overview

One of the first and arguably most important questions that a potential investor typically asks themselves is: “How do I purchase stock?” A few Google searches later and they quickly learn that stock is purchased primarily on the NYSE or the Nasdaq through the use of a trading platform hosted by a brokerage firm. There are several trading platforms available in the market today and all of these platforms have their own pros and cons depending on the type of trading that will be the focus of an investor’s portfolio. Of the available trading platforms, TD Ameritrade which is owned by TD Bank is one that stands out as the most feature-rich and robust.


Available Securities

TD Ameritrade allows securities trading in just about any way you can imagine: stock trading, trading on margin, options trading, mutual funds, Forex trading, futures trading, ETFs, bonds, CDs, OTC bulletin boards, pink sheets, penny stocks, etc.


TD Bank Trading Platforms

Securities can be traded through TD Bank brokerage’s web-based platform by use of a computer or a tablet and there is a desktop application for computers running the Windows OS. There are mobile applications available for use on Android phones, Windows phones, BlackBerry phones, iPhone, and even the Apple Watch! The mobile applications allow trading after-hours, trading mutual funds, conditional orders, simple options, and complex options. All of these access the standard platform which provide the user with simple charts which show a security’s price action anywhere from over a day to over five years, a watch list, fund transfer options, Ask Ted (a virtual assistant who takes your questions and attempts to provide you with the most accurate response), among other features.


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Advanced Trading Tools

TD Bank brokerage offers powerful tools to take trading to the next level. Two tools in particular, Trade Architect and thinkorswim, are essentially additional platforms where users can access in-depth charts & more comprehensive information than is accessible through the standard platform. Trade Architect’s key features are technical analysis of charts and real-time news research & updates. While thinkorswim offers a library of built-in tutorials to help investors understand more complicated trading strategies and how thinkorswim itself can be used to take advantage of these strategies. These tools can be used in tandem to stay ahead of the curve and invest when the timing is just right.


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Fund Transfers

Wire transfers executed during a bank’s business hours (with ample time for the bank to process the wire) will allow funds to be available for trading within the same business day. ACH transfers are generally available within one business day, but can take up to three according to their guidelines.


Execution Times

When it comes to trading securities, as long as the bid meets the ask, TD Bank broker’s system is highly reliable when it comes to fulfilling an order. The average time it took market orders to be executed is a mere 0.08 seconds! That is incredibly fast.


TD Bank Brokerage Fees

There is $0.00 minimum deposit to open an account with TD Bank brokerage ($2000 minimum to allow trading on margin), so as long as a potential investor has a social security number and a source of funding for the account, they can start trading right away. There are workarounds for persons without a social security number, such as establishing an LLC for an EIN number and using that instead. TD Bank brokerage is currently running an offer - Trade free for 60 days + get up to $600. - cash incentive based on the amount of money that is initially deposited into the account. After the offer expires, the cost per stock trade is a flat $6.95 which is discounted as a commission fee from the existing account balance. There is a $6.95 + 0.75 (per contract) options trading fee. The mutual fund trading fee is $49.99 and a broker assisted trade will cost $44.99. These are not the cheapest rates available, but they are competitive and in line with the industry standard.


Customer Service

The customer service at TD Bank brokerage is first-rate, with over 6,000 full-time employees and 100+ local branches spanning over 33 states. Anyone with questions or issues can either walk in or set an appointment at a local branch. If clients prefer, they can reach out to the customer service line at (800) 669-3900 and after a few short prompts a knowledgeable adviser is on the line to assist. In the event that a client requires an answer to a question regarding a specific trading strategy or issue, TD Bank brokerage has teams of employees in customer service that focus on these areas as well.


Additional Account Features

With a TD Bank brokerage account a client can elect a cash management option (no monthly fee), whereby unlimited checks can be written directly from the funds in the investment account. TD Bank brokerage even offers a VISA card, with Apple Pay built-in. The VISA card is directly linked to the funds as well and allows for bill pay (one-time or recurring) and for ATM withdrawals (any and all ATM fees reimbursed).


Market Research

TD Bank brokerage offers analysts reports from Market Edge, S&P Research, S&P Columns, S&P Capital IQ, Research Team, Jaywalk Consensus, Zacks Investment Research, Dow Jones, Credit Suisse, and so on. Reviewing these reports help traders make informed decisions about what their next strategy should be.


Best Inherited IRA Account Summary

Although TD Bank brokerage may not offer the most competitive rates when compared to other available platforms, the wide range of features / tools and excellent customer service, far outweigh the small amount of money that would be saved by choosing a different broker. As they say, it’s always best to choose the right tool for the job and as it stands TD is the hardware store.


TD Ameritrade Promotion


Open TD Ameritrade Account