TD Ameritrade

What is TD Ameritrade?

TD Ameritrade is a premier online brokerage firm that has been serving investors since 1975, making it one of the oldest and most established names in online trading. Originally founded as First Omaha Securities, the company evolved through numerous acquisitions and mergers to become TD Ameritrade in 2006. The platform gained legendary status in the trading community for its powerful thinkorswim trading platform and comprehensive educational resources.

In 2020, Charles Schwab completed its acquisition of TD Ameritrade for approximately $26 billion, creating one of the largest brokerage firms in the world. While the companies are integrating, TD Ameritrade’s platforms and services continue to operate, with thinkorswim remaining a flagship offering. The combined entity serves over 30 million client accounts with trillions of dollars in assets.

TD Ameritrade distinguishes itself through its industry-leading trading platforms, particularly thinkorswim, which is widely regarded as the most powerful retail trading platform available. The platform offers comprehensive services including stock, options, futures, forex, and ETF trading, along with extensive research, education, and retirement planning tools suitable for investors at every level.

Key Features

• thinkorswim Platform: Industry-leading trading platform with professional-grade charting, analysis tools, and customizable workspaces for serious traders.
• Commission-Free Trading: Trade stocks, ETFs, and options with zero base commissions on online equity trades.
• Options Trading Excellence: Advanced options trading capabilities with multi-leg strategies, probability analysis, and options education.
• Futures & Forex: Trade futures contracts and foreign currencies with competitive pricing and dedicated platforms.
• Paper Trading: Practice trading with virtual money using paperMoney feature in thinkorswim to test strategies risk-free.
• Education Network: Comprehensive learning resources including courses, webcasts, videos, and in-person events for all skill levels.
• Research & Analysis: Access to premium research from multiple providers including Morningstar, CFRA, and in-house analysts.
• 24/7 Trading: Extended hours trading available for select securities outside normal market hours.
• Retirement Planning: Full range of retirement accounts with planning tools, rollover services, and professional guidance options.
• Mobile Trading: Powerful mobile apps including thinkorswim mobile with full platform capabilities on smartphones and tablets.

Latest Updates

TD Ameritrade continues to enhance its offerings while integrating with Charles Schwab to provide enhanced services.

• Schwab Integration Progress: Continued integration with Charles Schwab bringing enhanced research, banking services, and combined resources.
• thinkorswim Enhancements: Ongoing improvements to the flagship platform including better charting tools, faster execution, and new analysis features.
• Enhanced Mobile Apps: Updated mobile applications with improved performance, additional features, and streamlined user experience.
• Expanded Education: New educational content including courses on options, futures, and advanced trading strategies.
• Improved Research Tools: Enhanced screeners, watchlist features, and real-time data capabilities across platforms.
• Social Trading Features: Added social sentiment indicators and community features for collaborative trading insights.
• Cryptocurrency Access: Expanded cryptocurrency-related investment options including crypto-focused ETFs and trusts.
• API Improvements: Enhanced API access for developers and algorithmic traders to build custom trading solutions.

System Requirements

thinkorswim Desktop

• Operating System: Windows 10/11 or macOS 10.13+
• Processor: Intel Core i5 or equivalent (i7 recommended)
• RAM: 8 GB minimum (16 GB recommended for active trading)
• Storage: 2 GB available space
• Display: 1920 x 1080 resolution minimum (multiple monitors supported)
• Internet: High-speed broadband connection
• Java: Java Runtime Environment included

Web Browser

• Google Chrome (latest version, recommended)
• Mozilla Firefox (latest version)
• Safari 12 or later
• Microsoft Edge (Chromium-based)
• JavaScript and cookies enabled

iOS

• Operating System: iOS 14.0 or later
• Compatible with iPhone and iPad
• Storage: 300 MB available space
• Touch ID/Face ID supported

Android

• Operating System: Android 8.0 or later
• Storage: 250 MB available space
• RAM: 3 GB minimum recommended
• Fingerprint authentication supported

How to Install TD Ameritrade

thinkorswim Desktop Installation

1. Visit tdameritrade.com and log in to your account
2. Navigate to “Trading & Tools” then “thinkorswim”
3. Download the installer for Windows or macOS
4. Run the installer and follow setup prompts
5. Launch thinkorswim and log in with TD Ameritrade credentials
6. Complete initial setup and workspace configuration
7. Customize charts, watchlists, and trading preferences

Web Platform Access

1. Navigate to tdameritrade.com
2. Click “Open New Account” to register or “Log In” if existing
3. Complete account application with personal information
4. Verify identity with required documentation
5. Fund account via bank transfer, wire, or check
6. Access trading platform through “Trade” menu
7. Configure preferences and begin trading

iOS Installation

1. Open App Store on your iPhone or iPad
2. Search for “thinkorswim” or “TD Ameritrade Mobile”
3. Tap “Get” to download preferred app
4. Open app and log in with credentials
5. Enable biometric authentication
6. Configure alerts and notifications
7. Set up watchlists and trading preferences

Android Installation

1. Open Google Play Store
2. Search for “thinkorswim” or “TD Ameritrade Mobile”
3. Tap “Install” to download
4. Open app and sign in
5. Enable fingerprint login
6. Configure push notifications
7. Customize mobile workspace

Pros and Cons

Pros

• thinkorswim Platform: Arguably the most powerful retail trading platform available with professional-grade tools and customization.
• Outstanding Education: Industry-leading educational resources including courses, webcasts, and in-person events for all levels.
• Paper Trading: Risk-free practice environment lets traders test strategies with virtual money before risking real capital.
• Options Trading: Exceptional options trading tools, education, and strategy capabilities for derivatives traders.
• 24/7 Support: Round-the-clock customer support via phone provides assistance whenever markets are moving.
• Research Depth: Access to comprehensive research from multiple respected third-party providers.
• No Minimum Balance: Open accounts with no minimum deposit requirement for basic brokerage accounts.

Cons

• Platform Complexity: thinkorswim can be overwhelming for beginners with its extensive features and steep learning curve.
• Integration Uncertainty: Ongoing Schwab integration creates some uncertainty about future platform and feature changes.
• No Fractional Shares: Cannot purchase fractional shares of stocks through TD Ameritrade platforms.
• Higher Options Fees: Options contract fee of $0.65 is standard but higher than some zero-commission competitors.
• Limited Banking: Banking services are less integrated compared to some full-service competitors.

TD Ameritrade vs Alternatives

Who Should Use TD Ameritrade?

TD Ameritrade is ideal for:

• Active Traders: Serious traders who demand professional-grade tools, real-time data, and powerful charting capabilities.
• Options Enthusiasts: Investors focused on options strategies who need advanced analysis tools and comprehensive education.
• Futures/Forex Traders: Those trading futures contracts or foreign currencies who need dedicated platforms and competitive pricing.
• Learning Investors: New traders who want extensive educational resources and paper trading to develop skills risk-free.
• Technical Analysts: Traders who rely on technical analysis and need advanced charting with hundreds of indicators and drawing tools.
• Strategy Testers: Investors who want to backtest trading strategies and simulate performance before risking real money.

TD Ameritrade may not be ideal for:

• Casual Investors: Those looking for simple investing may find thinkorswim overwhelming and prefer simpler platforms.
• Fractional Share Investors: Investors wanting to purchase partial shares of expensive stocks need alternative platforms.
• Integration Seekers: Users wanting fully integrated banking and investing may prefer platforms with stronger banking features.
• International Investors: Non-US residents may have limited access to TD Ameritrade services and account types.

Frequently Asked Questions

What is happening with TD Ameritrade and Charles Schwab?

Charles Schwab completed its acquisition of TD Ameritrade in 2020. The companies are integrating operations, with TD Ameritrade accounts eventually transitioning to Schwab. However, the thinkorswim platform will continue as it’s highly valued by active traders. The integration process is gradual, and TD Ameritrade clients will be notified well in advance of any account transitions.

Is thinkorswim free to use?

Yes, thinkorswim is completely free to download and use for TD Ameritrade account holders. There are no platform fees or subscription costs for the desktop, web, or mobile versions. You can even use the paperMoney feature to practice trading with virtual money without funding an account, making it perfect for learning.

What is the minimum to open a TD Ameritrade account?

There is no minimum deposit required to open a standard TD Ameritrade brokerage account. You can open an account with $0 and fund it later. However, certain features like margin trading require minimum equity balances, and some trading strategies may have minimum requirements based on regulatory requirements.

Can I trade cryptocurrency on TD Ameritrade?

TD Ameritrade doesn’t offer direct cryptocurrency trading, but you can gain exposure to crypto through Bitcoin futures on thinkorswim (requires futures approval and minimum account balance) and cryptocurrency-related ETFs and stocks. For direct crypto trading, you would need to use a separate cryptocurrency exchange.

How good is TD Ameritrade’s customer service?

TD Ameritrade consistently ranks among the best for customer service in the brokerage industry. They offer 24/7 phone support, live chat, email, and an extensive online help center. The company also provides in-person support at branch locations and specialized support teams for complex trading questions, options strategies, and technical platform assistance.

Final Verdict

TD Ameritrade remains one of the most powerful and comprehensive brokerage platforms available, particularly for active traders and those serious about options, futures, or forex trading. The thinkorswim platform is genuinely world-class, offering capabilities that rival professional institutional trading systems while remaining accessible to retail investors at no additional cost.

The platform’s educational resources are unmatched in the industry, making TD Ameritrade an excellent choice for investors at any stage of their journey. The combination of professional tools and comprehensive learning content means you can grow into the platform’s advanced features as your trading sophistication develops.

While the ongoing Schwab integration creates some uncertainty, the commitment to maintaining thinkorswim is reassuring for existing users. For traders who demand the best tools, deepest research, and most sophisticated analysis capabilities, TD Ameritrade delivers exceptional value. It earns a strong recommendation particularly for active traders, options enthusiasts, and anyone serious about developing their trading skills.