Best TD Ameritrade alternatives in 2021 • Benzinga
One of the most popular online brokerage firms, TD Ameritrade offers an extensive library of investment options.
You can take advantage of free stock research, data, analysis, and advice on how to build a profitable portfolio. Combine these benefits with commission-free trading and it’s easy to see how TD Ameritrade meets people at all levels of experience.
Yet what is good for others may not be good for you. It’s best to research competing brokerage firms before deciding where to put your hard-earned money.
Best TD Ameritrade Alternatives
TD Ameritrade is a solid choice if you just want to start your investing journey.
However, as you grow older you will find that you prefer some attributes over others. For some, convenience may be supreme. For others, access to alternative investment vehicles may be the most important attribute. Thanks to innovations in the investment space, you now have more options than ever before.
If you want a brokerage that speaks specifically to you, take a look at our list of the best alternatives.
- Over 39,000 funds worldwide
- 35,000+ free funds
- More than 380 fund families
- No childcare costs
- Agnostic fund
- Free Mutual Fund Inventory Finder
Best for mutual funds: interactive brokers
IBKR has one of the largest mutual fund markets, with funds from Allianz, American Funds, BlackRock, Fidelity, Franklin Templeton, Invesco, MFS, PIMCO and many more. In addition, the Marketplace is neutral – there is no conflict of interest as we do not offer exclusive funds.
You can use their mutual fund inventory finder to identify funds by country of residence, commission charged, fund type, or fund family.
Want the IBKR Advantage? Here’s what you can expect:
- Over 40,000 funds available to residents worldwide
- Over 7,700 funds with no transaction fees
- Other funds available at low commissions and no custody fees
- IBKR is neutral – no own funds
- Free mutual fund finder to help you find the right funds
Best for Engagement: Robinhood
After the initial wave of the pandemic, Robinhood saw an increase in user volume as workers switched to remote work. Many people who have not considered investing have started to dive.
Robinhood’s most identifiable attribute is its commitment. Equipped with a “gamified” interface, Robinhood uses visual and aural touches with every transaction and offers a major contrast to the often rigid nature of traditional brokerage houses.
Best for scalability: Moomoo
While the rise of trading apps is an encouraging development as it connects a new generation of investors to the markets, there are many examples that only provide a basic foundation. As you move forward on your investing journey, you will need to access powerful tools while retaining the convenience of trading apps and will be able to examine Moomoo’s scalability.
Intuitive application, Moomoo is aimed at beginner investors. However, it does offer advanced features like real-time market offers and free trades. The platform also provides detailed technical charts so that you can better craft your next trade.
Intermediary traders and investors
Ideal for cryptocurrencies: Webull
Online and mobile brokerage, Webull’s interface automatically appeals to Generation Z, investors who have grown up in the digital age and have no memory of the analogue age. Webull offers a no-cost platform that doesn’t require a minimum balance but doesn’t skimp on useful tools.
Webull’s biggest asset: cryptocurrencies. The so-called blockchain market fits into the “anywhere, anytime” mentality of young investors and Webull responds to a critical and relevant need.
Ideal for professionals: TradeStation
While investing activity has received a massive surge of engagement due to the pandemic, the majority of these newcomers will not turn to day trading for a career. For the intrepid few who dare to make this transition, TradeStation offers the perfect platform.
Providing access to the most advanced trading tools and in-depth, insightful research, TradeStation has decades of experience helping professional traders through the peaks and valleys of the investment markets. TradeStation offers wholesale pricing for high volume trading which is a huge plus if you are trading for a living.
What is TD Ameritrade?
TD Ameritrade is a full-service brokerage firm that provides access to an impressive array of investments: stocks, bonds, mutual funds, exchange-traded funds (ETFs), options, futures, forex, foreign ADRs and initial public offerings for savings (IPO) for eligible account holders.
Although competition in the brokerage industry is intense, TD Ameritrade has always stood out for its suitability for both new and advanced investors. His personalized education suits your investing style and goals, and you get the information you need to stay on track.
Why TD Ameritrade may not be right for you
While TD Ameritrade has a wide appeal, it may not meet your specific needs. While TD Ameritrade has an incredible list of investment picks, it doesn’t include everything. For example, although the company gives you access to cryptocurrency futures, it does not allow you to invest in the digital tokens themselves.
Of course, this could be a downside if you are a young investor who prefers next generation asset classes. You may not find much use for the teaching materials on offer or you may find it too stuffy. TD Ameritrade alternatives can offer much more satisfaction.
Consider TD Ameritrade Alternatives
There is no doubt that TD Ameritrade is the gold standard when it comes to accessing a wide range of investment opportunities. In addition, this brokerage is a suitable choice whether you are an advanced day trader or are just starting your journey in the capital markets.
However, investing is not a one-size-fits-all business. You may prefer a platform that caters to convenience and intuitiveness because trading is not your top priority. Or maybe you are considering a career as a regular on Wall Street. In either of these cases, TD Ameritrade may not have exactly what you want.
Make sure you understand what you are trying to accomplish. From there, review the pros and cons of each brokerage and find the one that best suits your goals and strategies.
0 Commissions and no minimum deposit. Everyone has smart tools to invest smart. Webull supports full extended trading hours, which includes full pre-trade (4:00 am – 9:30 am ET) and after hours (4:00 pm – 8:00 pm ET) sessions. Webull Financial LLC is registered and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). He is also a member of the SIPC, which protects (up to $ 500,000, which includes a limit of $ 250,000 for cash) against the loss of cash and securities held by a client of a brokerage firm. member of the SIPC in financial difficulty.