TD Ameritrade is a full service brokerage, offering online services for most types of investors.
Its a smart pick if youre looking for a wide variety of securities and account types.
What Is TD Ameritrade and How Does It Work?
Their online platform is user-friendly for both beginner and experienced traders.
The brokerage offers both self-directed and managed portfolio options the minimum investment for each will vary.
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Although Charles Schwab acquired TD Ameritrade in October 2020, the platforms are still operating separately.
Account Minimum
There is no minimum account requirement to open an account with TD Ameritrade.
Same goes for TD Ameritrades managed portfolios.
Its simple if youre looking to trade on-off orders and even on the go.
you’re able to use those for free via TD Ameritrades trading platforms and their mobile app.
If youre not an existing customer, you could sign up for a free 60-day trial.
Providers include Argus, CFRA, FRED, Reuters, Vickers, and Morningstar.
Both apps have many of the same features as the web-based platforms.
you’re free to look at the funds based on different characteristics.
However, there are over 13,000 mutual funds to choose from.
Managed Portfolios
Unfortunately, there is no robo-advisor option through TD Ameritrade.
Is TD Ameritrade Right for You?
Theres not much we dont like about this brokerage.
TD Ameritrade has tools and investment options suited for beginner investors.
Investors can access their robust educational platform and easy to use desktop and mobile apps.
However, if youre a total beginner, the tools may feel too advanced for you.
TD Ameritrade customers wont be charged commission to trade ETFs, stocks, or options.
You also wont be charged fees for certain mutual fund transactions or making partial withdrawals from your account.
There may also be expense ratios for different investments, though TD Ameritrade itself doesnt charge them.
She is the host of the Buzzsprout and Beyond the Dollar podcasts.
Contributor Veronica Matthews contributed to this report.
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