TD Ameritrade

Name: TD Ameritrade
Brand: TD Ameritrade
Rating: 3.8 (26 reviews)

3.8

26 reviews

Unclaimed

This product has not been claimed by the company yet.

TD Ameritrade

3.8

26 reviews

Unclaimed

This product has not been claimed by the company yet.

TD Ameritrade

MINIMUM FEE

TRADING FEES

Custodian

STOCK HOLDING TYPE

TD Ameritrade

MINIMUM FEE

TRADING FEES

Custodian

STOCK HOLDING TYPE

Reviews (26)

3.8

26 Reviews

Service Rating

Customer Support

3.6

User Experience

4.1

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Joshua
Posted 17 May 2022
Purchased
TD Ameritrade
- I am a buy and hold, long term retail investor - Viewing my holdings in a single location is important to me. However Standard Chartered does not offer options - I have read through some of the previous reviews consolidated and added some of my own experiences to it. - I have been a customer of TDA since 2021. Commission Rates - Cheapest in the online brokerage market—> Recommended for everyone who's looking to trade stocks and options on the US market. - USD 0 for US stocks, USD 0.70 for US options. - NO real-time market data fees (I am looking at you IBKR!)- I used them to watch the market before making a purchase on SC, because SC does not offer real time data neither does my portfolio tracker - NO Custodian fees (I am looking at you SAXO!)- I did look at Saxo as they have an extensive market coverage. But as a buy and hold, long term retail investor custody fees are a menace to my portfolio. - NO dividend handling fees (I am looking at you FSMOne/iFAST!) - I mean there is already a 30% withholding tax for dividends from US stocks - terrible for dividend investors. - TDA does impose a USD 25 for withdrawal. User Interface & Features - Best in class UI/UX, very easy to navigate their Thinkorswim platform - Best thing about the platform is the ability to analyse the options risk profile or profit/loss at different stock prices and different days to expiry. Able to customise charts and different option strategies for complex users. Tip: Their mobile app works wonders! Set your alerts and it makes it much easier to track price changes. - You will need to install a TD Authenticator app, DON’ T ever delete the app, because you might have difficulty logging into TD like i did especially if you have connected the platform to the app before, Market Access - It has only US markets - Which is sufficient for me as I am just looking to sell options on this platform (which I think is sufficient for most people buying US stocks and ETFs). Account Opening - Lengthy account opening process (around 1 month). - Does not utilise MyInfo, and it still requires customers to submit hard copies of documents with wet ink signatures. (TDA gives me OptionsXpress vibes, they way they did things - I had my SC broker while waiting for TDA to be opened. Customer support - Just note that you have to pay for overseas mobile charges as their call centres might not be located in Singapore. - Long waiting time for someone to pick-up your phone call during trading hours but usually can be resolved fairly quickly after that. - No live chat support. You can see the rest of the other people review of their customer service. Day Trading - To get started, your trading account needs to have USD 25,000 deposited into it - That rules out trading on TDA for a large amount for a number of Singaporeans - Apparently, you can't run more than a couple of trades before going into forceful lockdown. - These rules are certainly not friendly for most traders, unlike with most other brokers where you get to decide when and how to trade your funds. - I can’t say much about this as I am not a day trader. Options trade - Offer basic non options strategy for new customer. - But I personally got TDA so that I could trade options. - The first time I applied the account that got approved was the normal one and there after I had to reapply again before I was given approval to trade options. Trading platform - One of the most comprehensive, professional looking and user friendly trading platform - The more you use it the better you get, more comfortable reduces the risk of a error trade. Deposits and withdrawals - Are reasonably fast. - If wiring in USD, funds can reach my account by the same night if wired in the afternoon. - I have never tried this before - If depositing SGD via DBS FAST transfer, it can take a few days but the FX conversion is close to spot- this I have done
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Daniel
Posted 20 Mar 2022
Purchased
TD Ameritrade
[Commission Rates] Cheapest in the online brokerage market. USD 0 for US stocks, USD 0.70 for US options. NO need to pay obscene real-time market data fees (I am looking at you IBKR!) NO Custodian fees (I am looking at you SAXO!) NO dividend handling fees (I am looking at you FSMOne/iFAST!) But it does impose a USD 25 for withdrawal. [User Interface] Best in class UI/UX, very easy to navigate their Thinkorswim platform as compared to Moomoo, Tiger, and IBKR. [Market Access] Unfortunately, it has only US markets (which I think is sufficient for most people buying US stocks and ETFs). [Features] Probably the best thing about the platform is the ability to analyze the options risk profile or profit/loss at different stock prices and different days to expiry. Able to customize charts and different option strategies for complex users. [Others] The only downside is the looooooooong account opening process (around 1 month), probably beat the entire online brokerage market by a huge margin. It does not utilize MyInfo, and it still requires customers to submit hard copies of documents with wet ink signatures. But do not let this to deter you from opening an account, you can use other brokers first while waiting for this account to be approved.
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Tiff
Posted 19 Mar 2022
Purchased
TD Ameritrade
Best trading platform ever!!!! Highly recommend, i've been using for a long period, you will need to install a TD Authenticator app, and just FYI don't ever delete the app, because you might have difficulty logging into TD like i did especially if you have connected the platform to the app before, but no worries, support is great also (just note that you have to pay for overseas mobile charges like i did)
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Jamie N.
Posted 08 Jan 2022
Purchased
TD Ameritrade
To get started, you need to load up your trading account with 25 grand. That automatically keeps out a chunk of SG's population. Next up, you can't run more than a couple of trades before going into forceful lockdown. These rules are certainly not friendly for most traders, unlike with most other brokers where you get to decide when and how to trade your funds.
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Wilson Cheng
Posted 01 Jan 2022
Purchased
TD Ameritrade
I can't give 5 star because... [Day Trade] require US$25k deposit into TD account in order to allow to do day trading ! I just realized it after opened account and traded in/out for 5 times and got blocked to trade for 5 consecutive days. What a big disappointment! Thought $0 commission trade can help day trade to growth small capital! [Options trade] offer basic non options strategy for new customer. In order to trade Options strategy like spread, you need to apply for tier II or III account. It is subject to approval from TD, require to fill in approval form and submission via email to TD Singapore. I applied for Tier II and Tier III in order to trade options spread, get rejected totally disappointed and only allow to reapply after 90 days! I wonder what are TD thinking and why they care? Don't understand what are they looking for? Asking Customer to look elsewhere to do options strategy trade? [Trading platform] One of the most solid, professional look and user friendly trading platform ever ! Unlike IBKR trading platform it is technically hard to navigate and hard to understand their platform. This lead to slow trade and error trade causing risk of loss in trade! [ Customer Service] Slow and mostly no one pick-up your phone call! No live chat support. You can see the rest of the other people review of their customer service. Overall, I love using TD trading platform but don't like their house rules: 1. Initial Capital require $25k to start day trade else just max 3 trades a week then get blocked! 2. Options trade strategy not automatically allow and even applied get rejected Don't understand what are they looking for? Ask Customer to look elsewhere to do options strategy trade? If 1 and 2 removed this will be perfect for everything!
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Lam Pin Toh
Posted 04 Dec 2021
Purchased
TD Ameritrade
Once you get thru the delayed account opening, tda has been great for me. TOS is very user friendly and comprehensive. Good features for stock and options trading.
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DHRUPAD THACKER
04 Jan 2021
Any referral code for applying with them, please?
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Jonathan Chia Guangrong
Posted 22 Oct 2021
Purchased
TD Ameritrade
Been using TD on and off since 2013 as part of a trading community where we got discounted comm rates. And with the revamped comm structure last year, it's cheaper than ever. Plus no hidden fees to boot. Really great interface, straightforward to use. Powerful when you need it to be with areas to customise your own scripts or import scripts from others to create custom charts and scan lists. Deposits and withdrawals are reasonably fast. If wiring in USD, funds can reach my account by the same night if wired in the afternoon. If depositing sgd via dbs FAST transfer, it can take a few days but the fx conversion is close to spot. Only thing bugging me is the potentially long waiting time to reach someone during trading hours but usually can be resolved fairly quickly after that. I'd recommend this for everyone who's looking to trade stocks and options on the US market.
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Sharon
Posted 12 Oct 2021
Purchased
TD Ameritrade
I'm a user of both TD Ameritrade "TDA" and Interactive Brokers ("IB"). Some considerations for you if you're deciding between them. One bug bear is TDA account opening takes a long time (about 1.5 months). So far, my experience on email responses have been pleasant and they're prompt. Like recently, I wrote in to them about the delayed data and few days later, I saw that they've activated realtime data for me. I like the Thinkorswim interface, which is so much easier to use and cleaner-look than IB's Trader Workstation. Honestly, their strength is for options trading. Also when you fund the account, they convert SGD>USD automatically. It's not something I fret about, but I prefer to convert the currency myself which IB allows you to do that. In addition, if you want to do custom statements (e.g. generate a report on your options trading for each month, which I do), I don't think TDA has this function. Meanwhile, you can do that in IB portal (which is buggy - every time the timer hits 12 midnight, they will tell me to activate Realtime Communication, like whatever that means...bruh. In the end, I'd just go to Trader Workstation to put in my order 🙄). As for fees, TDA wins hands down for most parts. - $0 commissions on stock, ETF and option trades - USD 0.70 per option contract. If you trade OTC stocks (which I have in IB), there's a USD 7.44 commission vs IB USD 1 commission. Both have their merits and shortcomings. Personally, I use IB more, as I have AU & OTC stocks. Meanwhile, I use options in both IB (using options to reduce cost of current investments) and TDA (options trading). If I've missed anything out, please feel free to check.
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Nicholas Ee
Posted 09 Oct 2021
Purchased
TD Ameritrade
It was the worst experience I've ever had with support. It took them hours to reply a live chat. They were unable to answer my questions. Very unhelpful. The account was set up and funded. It prompted illegal-1-share when I was about to sell a Put Option. The funds available to purchase the shares to which I will to be assigned are adequate. Therefore, I contacted support and the representative said you needed to apply for Option trading. In response to a request for more details, he/she refused to provide any more information and said that if I wanted, I could resubmit another application. I spent hours online but didn't find much information regarding my case in Singapore. I would advise you to stay away from such a brokerage company if you are contemplating it.
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Gabriel Lim
Posted 02 Sep 2021
Purchased
TD Ameritrade
[Features] Takes a while to onboard, but definitely worth it! Thinkorswim platform is feature-filled and I have been using it to buy stocks and trade options for the past 2 years. Tip: Their mobile app works wonders! Set your alerts and it makes it much easier to track price changes.
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