TD Ameritrade Review – Forbes Advisor
From basic accounts to specialty accounts, TD Ameritrade clients will find everything they need, including:
Web platform and mobile application
TD Ameritrade offers a simple web-based trading interface with a corresponding mobile app as well as the highly regarded thinkorswim trading platform, available in iterations of desktop, web and mobile apps.
The web-based platform allows users to trade stocks, bonds, ETFs, mutual funds, and options. It is very intuitive and easy to use, with additional features such as streaming news, third-party research, and trading watchlists.
Thinkorswim trading platform and mobile application
The thinkorswim trading platform was designed for investment professionals, and it shows. This is where TD Ameritrade clients have access to more advanced asset classes, such as futures, currency options and futures, in addition to all of the asset classes available on the web platform. Customizable features include:
- Alerts and Watchlists
- Portfolio builder
- Commercial review
- Thermal mapping
- AI assistant
- Paper trade
- Level II quotes
- Extended trading hours
- Advanced tools for dynamic analyzes and customizable technical indicators
- Complex option controls with continuous sweeps
The platform offers thinkScript, a simple programming language that allows users to create their own analysis tools tailored to their specifications. This simple scripting language allows you to take market data and create studies, special watchlists and charts, as well as share them with other users.
The only real downside we might find with thinkorswim is the lack of a short locator. This could be a problem for investors looking for short stocks.
We rank TD Ameritrade thinkorswim charting capabilities based on top online brokers. thinkorswim is a favorite among technical analysts. Graphics tools include:
- 400 technical studies
- 20 drawing tools
- Integrated trading from the chart
- Drawing tools
- Save chart settings as a template
- Historical trades
TD Ameritrade provides any type of order that an investor might need. In addition to basic orders, advanced traders will appreciate conditional and duration orders. Types of orders include:
- Market, limit, day
- Leak stop
- Good until canceled (GTC)
- One cancels the other (OTO)
- Open / close limit
- Open / close market
- Short sale
Thanks to advanced order routing technology, most orders in the market are fulfilled at a better price than the current quotation. As noted above, TD Ameritrade receives payment for the order flow – direct trade routing is not available.
TD Ameritrade Managed Portfolios
Investors looking for managed accounts have a number of options to choose from. The former TD Ameritrade robot advisor, Essential Portfolios, has been replaced by Schwab Intelligent Portfolios. This diversified, no-fee robo-advisor requires a minimum balance of $ 5,000 and holds a portion of clients’ assets in cash. Schwab Intelligent Portfolios Premium provides access to financial advisors, but charges a one-time fee of $ 300 and a monthly fee of $ 30. Larger balances benefit from more sophisticated features and higher fees thanks to selective wallets and personalized wallets.