Ameritrade
Introduction
Licensing & Regulation
Mobile Trading
Brand & Functionality
Registration Process
Depositing Process
Product Offering
Trade Execution
Banking
Customer Support
Trading Tools
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Broker Information

User Rating
Ameritrade
5 (100%) 1 vote[s]
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Instruments
Platforms
Account Types
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Commissions
Founded
Customer Support
Min Funding

    Introduction

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    Ameritrade is as committed today as it was over 40 years ago to provide excellent services, including insightful analysis, trading tools that are innovative and straightforward pricing. Launched in 1975 the company’s main goal is to empower individuals by assisting them to take full control over their finances, while additional educational services were added to offer all the needed information to investors to ensure everyone gets to reach their financial goals.

    In 1975 when the Security and Exchange Commission eliminated fixed brokerage commission, First Omaha Securities Inc became TD Ameritrade and remained at the forefront of the trading industry for more than 40 years. Based in Omaha, Nebraska the TD part of the Ameritrade logo originates from Toronto-Dominion Bank, which is also the biggest shareholder. Ameritrade had by September 2018, 11,514,000 client accounts and $1,297 trillion in client assets, while in the year 2018, the company reported that it executed an average number of client transaction of 811,110 per day. 36.1% of the company’s revenues last year derived from fees and commission, revenue from interest contributed 23.3%, Investment of idle cash balances revenues from Toronto-Dominion Bank contributed 28.3%, investment product fees added 10.2% and revenues from interest 23.3%.

    Ameritrade Clearing Inc established in 1983 as a central counterparty clearing broker and introduced the first order and quoted system via touch-tone in 1988. In 1995 Ameritrade bought the first company to provide online security trading named K Aufhauser& Company and in 1996 Accutrade for Windows was launched by Trans Terra, the same company that merged with Ameritrade eight month later. Via an initial public offering, the company became a public company in 1997 and in 2001 purchased TradeCast for $67.3 million, which employed around 60 dealers/brokers.

    National Discount Brokers were acquired by Ameritrade in mid-2001 for $154 million adding client assets to the value of $6.3 billion. Datek Online Holding Corporation was acquired in 2002 and Mydiscountbroker.com in 2003, while Ameritrade also acquired Bidwell and Company, JB Oxford and Company and BrokerageAmerica in 2004. Over the period 2006 to 2009 the company purchased Fiserv, and then Thinkorswim in for $606 million. The new headquarter opened in Omaha at a cost of $250 million in 2013 and Scottrade was acquired in 2017.

    Licensing & Regulation

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    TD Ameritrade Inc is a member of SIPC and FINRA and fully licensed with the Monetary Authority of Singapore. The logo TD Ameritrade is jointly owned by The Toronto-Dominion Bank and TD Ameritrade IP Company Inc. TD Ameritrade Singapore website receives users consent to use and collect private information by opening an account or using the website. The privacy statement also includes that all personal information is collected according to safeguard assets, in order to comply with the law and to improve the services offered by TD Ameritrade Singapore.

    Mobile Trading

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    The Thinkorswim mobile app is one of the worlds most powerful apps and rated as the number one mobile trading app. The in-app support offered by TD Ameritrade via the Thinkorswim app is an industry first. Mobile traders have access instantly when they need it most via live text linking them directly to a trading specialist that can instantly answer any of their questions. The in-app support also makes screen sharing possible, which is perfect when the user needs assistance with app navigation. Individuals trading via mobile can also benefit via the app supporting Android tablets, iPad, iPhone, Android smartphones and the Apple Watch. The thinkorswim mobile app is available for free download from both the App Store for iOS users and Google Play for Android device users.

    Brand & Functionality

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    TD Ameritrade offers trading and investment services to over 11 million clients totalling more than $41 trillion in custodial services and assets for over 6,000 registered/independent investment advisors. Pricing is made easy with no inactivity fees, custody fees, data fees and low commissions. One of the most important aspects of trading with TD Ameritrade is the outstanding interactive and educational resources. Platform demonstration is available via video, and with virtual trading, it is possible to first experiment with any new trading strategy before placing real money on the idea, paperMoney provides access to USD$100,000 usable on a simulated account.

    Registration Process

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    Registration starts off by choosing the type of account most suited to your requirements. These include a corporate account that requires individuals to first call TD Ameritrade Singapore on the number provided. The other options include a joint tenants account with rights of survivorship, and the third option is an individual account. The individual margin account is registered in your name exclusively to allow trade on indices, US equities, options on equities and ETFs as well as short ETFs and US equities.

    The joints tenants account is registered by two account holders, and each has undivided ownership, should one of the account holders die the account ownership remains that of the survivor. Account holders are allowed by the account to trade equities, options, EFTs and US equities as well as trade shares on margin. It is also advised that individuals deciding to open this account should first consult with a tax professional.

    The best way to find out more about the trading opportunities offered at TD Ameritrade is to first experiment via virtual trading, which requires only a small amount of contract details and selecting an id and password, which offers access to the simulated account whenever you have the time to experiment. The virtual account is also available on iPad, iPhone and Android tablets as well as smartphones available via free download.

    Depositing Process

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    TD Ameritrade funding is possible via cheque, international wire, or account transfers. All deposits need to be in US dollars and the minimum deposit accepted is USD$3,500. Deposits made via cheque requires your 9-digit account number written on the back together with your contact number and name. Funds can be expected to reflect in your trading account in 3 to 5 business days. Depositing via wire transfer also takes around 3 to 5 days, while all details required are displayed on site. ACAT or transfers made from other brokers takes around 7 to 10 banking days.

    Product Offering

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    One thing, traders are assured off is that TD Ameritrade will never charge data or platform fees and low commissions apply, while trading specialists are always ready to assist free of charge. Products offered by Ameritrade include options offering online clients the option to execute the most complex multi-leg option trades via the award-winning thinkorswim platform. It is also possible to trade futures per contract for as low as USD$2.41 plus regulatory and exchange fees. The company charges no extra for futures held overnight.

    Members can also trade ETFs and stocks for a flat rate instead of a percentage of their trade value, the flat rate is USD$10.65 and at the same time be sure that their order routing is focused on finding the best price.

    Future trading includes livestock, forest, softs, energy, grains, and metals with trading hours starting from 5 am up to 4 pm US CT.

    Trade Execution

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    Currently, over 500,000 traded is placed by clients per day. The company has more than 360 branches nationwide and keeps up with the market to ensure clients have access to the most advanced features. Apart from market holidays, at Ameritrade trading takes place 24 hours a day, all five days of the week, which offers clients the chance to trade when their schedule allows it.

    Banking

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    The exchange and security commission has very specific rules when it concerns the time for stock sales to become official, which also has an effect on when the funds will be available. Currently, the rules are three days, and it will take a minimum of 3 days from the time the stock is sold for the funds to become available. For ACH electronic deposits the hold period is 60 days, after three banking days, the deposits may be sent back to the bank used to fund the account.

    Customer Support

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    TD Ameritrade won the Customer Service award two years in a row and continues to offer exceptional assistance via the live chat part of its mobile app, email and telephone. Apart from 24/7 email and telephone support, traders can also visit any one of the 360 branches nationwide. Assistance is also offered via Facebook messenger or iPhone messages.

    Trading Tools

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    With the powerful platforms and tools available at TD Ameritrade, traders can act quickly, efficiently and decisively in one of the fastest-moving markets, the thinkorswim mobile app and desktop platform offers a range of tools to ensure users are in command of their option, futures and stock trading. The platform created for traders who are serious includes professional-level test and analyses strategies as well as the option to monitor potential rewards or risk. The market scans are great to assist in generating ideas, and with paperMoney, it is easy to test the strategies. At the same time, it is easy to get started with the onboard tools that also includes the learning centre.