TD Ameritrade, formerly Ameritrade, is a discount broker ranked among the top 20 by several assessments including JD Power and Associates, Barron's and Consumer Reports magazine among others. The company provides brokerage and banking services that suit self-guided investing and financial planning. For examples, individuals seeking to invest personal assets in corporate stocks can do so by stock trading through a TD Ameritrade brokerage account.
During the recession of 2008-2009, TD Ameritrade remained profitable despite massive declines in stock market share values. TD Ameritrade seems to be in the business for the long term after having acquired a subsidiary of Toronto Dominion Bank in and the acquisition of 'Thinkorswim' brokerage firm in 2009.(3) TD Ameritrade is a publicly owned company with the ticker symbol (AMTD).
• Brokerage rankings
TD Ameritrade is considered one of the better discount brokers ranking top 10 and even top 5 in several reviews. Brokerage rankings themselves are ranked by another organization called consumersearch.com,(4) which considered the brokerage firm reviews of Smartmoney.com, Barron's, ConsumerReports.org to be among the best. Having said that, TD Amritrade was ranked 5 of 16 by SmartMoney.com's 2009 rankings, and top 3 in the 2010 rankings for the same.(4) TD Ameritrade received an 11 of 25 by Barron's/WSJ, both owned by Dow Jones Corporation, 7 of 17 by Consumer Reports Magazine, and 4 of 14 by a 2009 JD Power and Associates classification.
• Advantages of TD Ameritrade
Among the advantages of TD Ameritrade are it's a fairly secure, stable and functional brokerage firm that supports individual asset management. It has multiple trading abilities such as stock options and bond trading, in addition to analytical tools that enable investors and traders to evaluate investment or trading decisions. Moreover, TD Ameritrade provides most of the services one would expect from a discount broker. Several account options are available through TD Ameritrade including IRA, Joint ownership, individual, education savings and business accounts.
• Disadvantages of TD Ameritrade
Despite high rankings and several advantages TD Ameritrade does have its shortcomings. For traders or investors without a strong financial profile, margin accounts and options trading may be limited. The customer service is courteous and helpful in so far as a discount broker can be, but for those seeking advice or who don't wish to execute their own trades, fees can go up. According toptenreviews.com, TD Ameritrade does not have a trading simulator, nor does it allow trading of International stocks.(2)
• Services and website
The services and website platform offered by TD Ameritrade is for the most part functional and effective. The investing tools, educational content, and customer service are well integrated allowing linked accounts, telephone and internet access for a more optimum account management. Additionally, TD Ameritrade offers effective Automated Clearing House (ACH) transfers at no cost, and offers several free analysis tools in addition to settings such as limit orders, trade triggers, and expedited trading.
The minimum balance for opening a TD Ameritrade account is generally between $1000-$2000 depending on the account according to TD Ameritrade, and account holders may write checks against an account and have the option of holding funds in an FDIC insured money market account as well as having investments protected by the Securities Investor Protection Corporation. (1)
During the recession of 2008-2009, TD Ameritrade remained profitable despite massive declines in stock market share values. TD Ameritrade seems to be in the business for the long term after having acquired a subsidiary of Toronto Dominion Bank in and the acquisition of 'Thinkorswim' brokerage firm in 2009.(3) TD Ameritrade is a publicly owned company with the ticker symbol (AMTD).
• Brokerage rankings
TD Ameritrade is considered one of the better discount brokers ranking top 10 and even top 5 in several reviews. Brokerage rankings themselves are ranked by another organization called consumersearch.com,(4) which considered the brokerage firm reviews of Smartmoney.com, Barron's, ConsumerReports.org to be among the best. Having said that, TD Amritrade was ranked 5 of 16 by SmartMoney.com's 2009 rankings, and top 3 in the 2010 rankings for the same.(4) TD Ameritrade received an 11 of 25 by Barron's/WSJ, both owned by Dow Jones Corporation, 7 of 17 by Consumer Reports Magazine, and 4 of 14 by a 2009 JD Power and Associates classification.
• Advantages of TD Ameritrade
Among the advantages of TD Ameritrade are it's a fairly secure, stable and functional brokerage firm that supports individual asset management. It has multiple trading abilities such as stock options and bond trading, in addition to analytical tools that enable investors and traders to evaluate investment or trading decisions. Moreover, TD Ameritrade provides most of the services one would expect from a discount broker. Several account options are available through TD Ameritrade including IRA, Joint ownership, individual, education savings and business accounts.
• Disadvantages of TD Ameritrade
Despite high rankings and several advantages TD Ameritrade does have its shortcomings. For traders or investors without a strong financial profile, margin accounts and options trading may be limited. The customer service is courteous and helpful in so far as a discount broker can be, but for those seeking advice or who don't wish to execute their own trades, fees can go up. According toptenreviews.com, TD Ameritrade does not have a trading simulator, nor does it allow trading of International stocks.(2)
• Services and website
The services and website platform offered by TD Ameritrade is for the most part functional and effective. The investing tools, educational content, and customer service are well integrated allowing linked accounts, telephone and internet access for a more optimum account management. Additionally, TD Ameritrade offers effective Automated Clearing House (ACH) transfers at no cost, and offers several free analysis tools in addition to settings such as limit orders, trade triggers, and expedited trading.
The minimum balance for opening a TD Ameritrade account is generally between $1000-$2000 depending on the account according to TD Ameritrade, and account holders may write checks against an account and have the option of holding funds in an FDIC insured money market account as well as having investments protected by the Securities Investor Protection Corporation. (1)
Sources:
1. http://bit.ly/10CKxk (TD Ameritrade)
2. http://bit.ly/5lZD7(Top Ten reviews)
3. http://bit.ly/9qIFMw (TD Ameritrade Facts)
4. http://bit.ly/a58HjY (Consumersearch.com)
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