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How much to fund TD Ameritrade account to avoid it being closed?
"Our records show you opened a TD Ameritrade account a while ago but still haven't funded it. If you don't fund your new account soon, it will be closed."
Does anyone know how much I need to put in to avoid the getting the account closed?
As I already have a IBKR account, I doubt I will use TD much but I do not want to go through the hassle of opening a TD account again the next time.
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Tan Choong Hwee
17 Feb 2022
Investor/Trader at Home
Check their FAQ:
https://www.tdameritrade.com.sg/faqs.html
They recommend USD3500 in general, at least USD500 to receive live real time data, and various other numbers for different trading needs.
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I have trading account with both TDA and IBKR LLC. I mostly traded via TDA as it is usually cheaper.
For US stocks, TDA don't charge any commission whereas IBKR charges at least 35cents.
For US options, TDA charges 65 cents per contract whereas IBKR charges more than a dollar per contract.
For OTC stocks, IBKR LLC tend to be cheaper in commission.
Also it is better to spread your investments among brokers rather than put all your eggs into one basket as the stocks you bought will be under nominee accounts.