|Stocks and ETFs|| $6.95|
|Stocks and ETFs broker assisted|| $44.99|
|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 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.|
TD Ameritrade Traditional IRA Account Fees
- IRA setup fee: $0
- Annual IRA fee: $0
- IRA termination fee: $0
- Outbound full account transfer: $75
- Outbound partial account transfer: $0
TD Ameritrade Traditional IRA Review
TD Ameritrade (TDA), one of the most recognizable names in the financial sector, has been an award winning online brokerage for the past 5 years.
In an increasingly competitive space, TDA continues to lead the industry through its acquisition strategies and a commitment to innovative product
delivery and customer service. The flagship platform offered by TDA, Thinkorswim, has consistently won top honors against other platforms year-over-year
since 2011. The company’s broad range
of products and education services along with its top tier customer service make TDA an excellent choice for investors and traders looking for a low cost,
high quality Traditional IRA account.
Growing into a Global Leader in Online Brokerages
TD Ameritrade went public in 1997. The initial public offering (IPO) was for $15 per share. Since going public, TDA has instituted an aggressive
growth-by-acquisition strategy. Perhaps one of the most well known acquisitions in the brokerage industry occurred in 2006 when Ameritrade Holding
Corporation (TDA’s parent company) acquired TD Waterhouse USA. Last year it bought another brokerage giant -
Scottrade. Since the deal, TDA has become one of the largest online brokerages with over 10 million
customer accounts holding assets totaling close to $1 trillion.
Another notable acquisition occurred in a cash and stock deal between TDA and Thinkorswim Group Inc. in 2009. The deal was for $606 million and made
TDA the dominant competitor for retail customer accounts. Thinkorswim was unique for its appeal to retail and self-directed options traders. Although
the acquisition met with criticism for Thinkorswim’s focus on options traders, the maneuver also opened up an entirely new market to online
brokerages — retail options traders.
Diverse Asset Classes for an Evolving Market
TD Ameritrade offers an impressively assorted set of asset classes to its customers. These include: equities, options, futures, Forex, treasuries and ETFs. TDA makes it comparatively easy for customers to open accounts with permission to execute trades in all of these asset classes. The requirements are varied, but are easily met for interested investors.
There is no minimum balance to open an individual trading account. However, electronic funding requires a $50 minimum.
For margin (required for futures and Forex trading) or option privileges, the account requires a minimum of $2,000. However, selling naked options and
higher risk strategies requires a higher level of permission obtained through a long application process—the requirements for approval are not disclosed to
customers. An individual account holder may open a number of accounts based on their personal profile. Cash, Cash Margin, Cash and Option, Cash, and Margin
and Option are all available to TDA customers.
TD Ameritrade: A Leader in Online Trading Technology
TDA boasts an industry-leading array of trading platforms providing customers access to their accounts from anywhere (literally) and also makes trading from mobile devices, desktop platforms and the TDA website simpler than ever before.
To begin with, TDA’s web platform has an easy-to-understand interface where traders and investors can access stocks and options, and a variety of third-party research. Users can even use scanning tools to look for investment ideas. The web platform also displays account balances and daily profit and loss. The platform is ideal for mid-term to long-term traders. However, TDA also offers platforms for active traders. All platforms are free with a TDA account.
The Trade Architect platform makes complex options strategies easier. For investors and traders using these strategies, Trade Architect is an excellent way to research trades right from a browser. Trade Architect will organize options strategies into categories to make decision making simpler. The platform also offers streaming news and the ability to trade directly from charts—an increasingly common feature in trading platforms.
The “next level” platform in TDA’s pool is Thinkorswim (TOS). Thinkorswim—a year-over-year winner of “Best Trading Platform” is a robust tool specifically designed for professional options traders; but the platform does offer futures, Forex and stock trading capabilities. TOS gives traders and investors access to detailed option chain data, real time quotes, Level II, Depth-of-Market blotters, Time and Sales and a complex Analyze Tab that calculates probability in-the-money and out-of the money at expiration. The Analyze Tab’s risk graph makes trading a visual experience displaying break evens and max profit and loss. Criticism toward TOS centers, ironically, around that very same complexity. For customers looking to “keep it simple,” TDA’s web-based platforms may be a better option.
TD Ameritrade is also advancing in the mobile trading arena. The TDA app and TOS are both available on iPad, iPhone and Android devices.
The apps give customers access to their accounts and trade execution. The TOS app even offers complex options strategies and alerts. All in all, the
varied platform offerings are the second best quality of TDA - next to their customer service.
Best in Class for Customer Service
TD Ameritrade’s stand-out feature is, in fact, its customer service. The company provides customers with live chat support from both its website and Thinkorswim. The response time is counted in minutes and the customer experience is clearly a priority. Customers can speak with employees regarding technology, accounts and commissions in a direct and effective way at any time.
The email support system is equally as powerful, although response times can average 12 hours. The responses are always thorough and practical.
It’s common, as well, that customer support will go above and beyond to satisfy customers regardless of their account size. Essentially, all TDA
customers are given the same level of care.
Best No Fee Traditional IRA
TD Ameritrade's Traditional IRA doesn't have account setup, annual, maintenance, or inactivity fees. The firm is one of the best brokerages for a
Traditional retirement account in 2017: you'll never be
charged fees on your account unless you decide to move it to a different company (almost all brokers charge for this).
Trade free for 60 days + Get up to $600.
Article was updated on 1/23/2017.