TD Ameritrade Review

Company Overview

TD Ameritrade is an online brokerage firm in the United States that offers a number of different services including ETFs, stocks, futures, mutual funds, options and retirement services. In the Stockbrokers.com Annual Broker Review, TD Ameritrade was ranked number one in Overall Performance and received 4.5 stars for its trading platform. In 2012 and 2011, the TD Ameritrade trading platform received a 5 star rating and was voted as the top trading platform as well. Overall, TD Ameritrade finished in second place and first place overall for 2011 and 2012 respectively.

Visit TD Ameritrade

Account Options

 Minimum ContributionMaximum Contribution

Roth IRA

No Minimum

$5,500/year

Traditional IRA

No Minimum

$5,500/year

SEP IRA

No Minimum

25% of compensation
(up to $52,000)

SIMPLE IRA

No Minimum

$12,000 (if under age of 50) or
$14,500 (if older than 50)

Self-Directed IRA

--

--

Rollover IRA

No Minimum

No Limit

Inherited IRA

--

--

 

The IRA account types that are available at TD Ameritrade are similar to what can be found at other online brokerage firms. The ‘catch-up’ contribution at TD Ameritrade has a maximum limit of $2,500 per year.

Investment Options

Associated IRA Investment Fees

Stocks

$9.99

Mutual Funds

None

Options

$9.99

Exchange-Traded Funds

$9.99

Annuities

Not Available

 

TD Ameritrade has a wide range of investment options available. The variety at TD Ameritrade is greater than what is available at most other online investment firms. In addition to stocks, options, ETFs, annuities and mutual funds, clients can invest in bonds and CDs. There are also forex and futures options available at TD Ameritrade. For further information regarding investment fees, contact a TD Ameritrade Financial Advisor.

Fees and Commissions

Account Related Fees for Roth IRA

Minimum Account Balance Required

None

Account Maintenance Fee

None

Termination Fee

None

Transfer Fee

$75.00

 

At TD Ameritrade, investors do not have to pay a maintenance fee to maintain their IRA account. The inexpensive services allow investors in nearly any type of financial situation to open an IRA and to start saving for their retirement.

Retirement Planning

TD Ameritrade offers several retirement planning tools including an IRA selection wizard. This wizard will ask investors a few simple questions and then use those questions to determine which IRA is best based on their situation. This online broker also offers an investment guidance service known as Amerivest Portfolio. This service recommends a wide range of investment options based on the investor’s goals. The WealthRuler is another powerful retirement planning tool available at TD Ameritrade. This tool provides a retirement timeline based on asset values and expenses that occur throughout retirement.

Account Features

Investors of any age can open a Roth IRA as long as they have generated taxable income within the last year. When opening a Roth IRA, a single individual cannot exceed an income limit of $114,000 and for joint filers the limit is $181,000. In addition, clients will be required to provide their social security number, financial statements and other personal information to open an IRA at TD Ameritrade.

Accessibility

Multi-Device Functionality
Mobile Sitecheck
iOS Accessiblecheck
Android Accessiblecheck

 

The mobile apps at TD Ameritrade are available for a number of different devices including Android, iPad, iPhone, Blackberry and iPod Touch. These apps offer a fully functional trading platform and account management system.

Safety and Security

TD Ameritrade is a member of SIPC which insures securities that are in client accounts up to a maximum of $500,000. This broker is also a member of the NFA and FINRA to provide clients with the safest investing environment. Advanced security protocols are used to protect client accounts against online fraud.

Customer Support

Customer support at TD Ameritrade is available 24 hours a day, 7 days a week. Investors have access to a professional, courteous and knowledgeable support team that is responsive and happy to answer any questions. There are several methods for contacting customer support including telephone and email. Alternatively, investors can visit a branch during normal business hours.

Bottom Line

The commissions at TD Ameritrade may be higher than at some other brokers but they offer a full range of IRA account types and investment options. In addition, there are no costs to maintain an IRA account and the customer service is excellent.

Visit TD Ameritrade

 

Advertising Disclosure

This site is a free online resource that strives to offer helpful content and comparison features to its visitors. Please be advised that the operator of this site accepts advertising compensation from companies that appear on the site, and such compensation impacts the location and order in which the companies (and/or their products) are presented, and in some cases may also impact the rating that is assigned to them. To the extent that ratings appear on this site, such rating is determined by our subjective opinion and based on a methodology that aggregates our analysis of brand market share and reputation, each brand's conversion rates, compensation paid to us and general consumer interest. Company listings on this page DO NOT imply endorsement. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

Top 5 IRA Providers