A $0 minimum investment requirement and several unique features such as portfolio building guidance and free research, these are some of the reasons that make TD Ameritrade a top choice for beginner, advanced and fund investors. Are you interested in investing in TD Ameritrade? Here is a review of TD Ameritrade as a financial service.
Why You Should Consider TD Ameritrade?
When we review financial services, we must weigh the pros and cons. Over the years that it has been in operation, TD Ameritrade has been on the limelight for all the best reasons. For instance, in 2019, this broker dropped its trading commission from $6.95 to $0. This boosted their rankings amongst the top brokers.
Another area where TD Ameritrade has surpassed the expectations of investors is by offering a wide range of investments such as Bitcoin, forex and futures. The company also goes to the extra length of offering educational support to its users. The investor educational material is available in various formats including quizzes, articles, and slideshows.
TD Ameritrade also offers virtual trading simulators and the service can be accessed via its mobile app. This gives traders the flexibility of trading on the go. Investing your finances on TD Ameritrade gives you a lot of flexibility and you can trade on stocks, CDs and bonds.
Members of TD Ameritrade can utilize the portfolio planner tool to track capital gains and losses. This tool is equally helpful for investors saving on retirement. The platform also allows you to customize any of the available models. The company’s desktop platform is equally responsive.
In instances where you can’t get to your laptop in time or don’t have the broker’s app installed on your phone. Ameritrade allows you to place code red emergency trades via third-party platforms such as Facebook Messenger, Twitter Direct Messages and even Apple Business Chat. This brings about a whole new level of convenience to investors.
Although both web-based and mobile platforms have similar trading functionalities. The latter offers more features such as Level II quotes which aren’t available on the web platform. The TD Ameritrade mobile trader entails chat support, complex option ordering capabilities and forex trading.
Any Downsides of Using TD Ameritrade?
The only area where this broker falls short is the high broker-assisted fees. TD Ameritrade charges $44.99 whereas other brokers charge from $20-$30 for the same service.
We can conclude that Ameritrade is one of the best brokers out there. TD Ameritrade provides excellent services and unique features such as no commission on stock, a variety of trading tools, and portfolio guidance amongst others. There is no doubt that their integration with Charles Swab will greatly improve the financial service delivery of Ameritrade.