TD Ameritrade Review - Could This Be The Perfect Online Broker?
We wish to start this TD Ameritrade review by emphasizing the fact that the company is one
of the leading online discount brokerage services in the United States. Its main service, which includes trades and investments in common and
preferred stocks, are mainly targeted for self-directed investors. Still, sophisticated traders and investors can also avail of services like
cash management, margin lending and exchange traded funds.
In this review, we shall concentrate on trading in the stock market mainly because it is probably the most popular. We also like it that the
company has several updates to its services including voice response trading, the Market Motion Detector and the QuoteScope. And since the
company provides for extended trading hours, you can make money at almost any time of the day through its trading platforms.
If this TD Ameritrade review was based on the user-friendliness of its online site, then the company is
already one of the leaders in our group. The site strikes just the right balance between providing for the necessary amount of information and
excellent layout. In short, this is as user-friendly as you can get with an online brokerage site.
Opening an account is easy, simple and fast as well with an average time of 15 minutes per online application. But if you want to enroll in
the program the old-fashioned way, you can mail in your application. Once you have been informed that your account opening was successful
completed, you can immediately start on your wealth-building activities through stock trading at TD Ameritrade. Such easy opening of account is
yet another reason for this favorable TD Ameritrade review.
Once you are trading, you will find many of TradeKing's features truly helpful. For one thing, you have the benefit of the Balances &
Positions feature that will keep track of your gains, losses and net worth while also allowing for easy tracking of your existing funds. For
another thing, you can execute trades on automatic mode with the Trade Trigger tool. Just set your advanced market conditions and the tool will
make the trade for you.
Another tool that we love about TD Ameritrade is GainsKeeper, which many
accountants are in familiar terms with. Basically, it allows for automatic accounting of your gains and losses with the numerous changes that can
with stocks like splits and mergers.
There is, however, a downside to this otherwise good TD Ameritrade review -
the company's relatively high fees. To summarize these fees:
• Internet trades and online trades are at $9.99 per trade
• Telephone voice response trades are charged $34.99 each
• Broker-assisted trades sets the fund back by $44.99 each
To balance out these high service fees, TD Ameritrade offers special incentives to their clients although it must be emphasized that
these incentives are only for the limited few. Take for example the 30-day free trade available to clients who open a $2,000 account or the $100
cash for a $25,000 account.
In conclusion, the 4 stars out of 5 stars in this TD Ameritrade review given to the company is well-deserved. From opening an
account to dealing with their customer service representatives, TD Ameritrade is one of the best in the industry. Our only gripe is the high
service fees but if you can make money, then our complaint is already covered.