One of the most popular online brokerages, TD Ameritrade offers a wide library of investment options.
You can tap into free stock research, data and analytics and guidance on how to build a profitable portfolio. Combine these benefits with no-commission trading and it’s easy to see how TD Ameritrade meets people at all experience levels.
Still, what’s right for others may not be right for you. It’s best to research competing brokerage firms before deciding where to place your hard-earned money.
Best TD Ameritrade Alternatives
TD Ameritrade is a solid pick if you just want to get the ball rolling on your investment journey.
However, as you grow, you’ll discover that you prefer certain attributes over others. For some, convenience may rank supreme. For others, access to alternative investment vehicles may be the most important attribute. Thanks to innovations in the investing space, you now have more options than ever.
If you want a brokerage that speaks specifically to you, take a look at our list of best alternatives.
Best for Engagement: Robinhood
Following the initial wave of the pandemic, Robinhood enjoyed a surge in user volume as workers transitioned to work remotely. Many people who didn’t consider investing began diving in.
Easily the most identifiable attribute of Robinhood is its engagement. Featuring a “gamified” interface, Robinhood utilizes visual and aural touches with each trade and offers a major contrast to the often stiff nature of traditional brokerages.
Best for Scalability: Moomoo
While the rise of trading apps is an encouraging development as it plugs a new generation of investors into the markets, many examples provide only a basic foundation. As you grow into your investing journey, you’ll want access to powerful tools while maintaining the convenience of trading apps and can look into the scalability of Moomoo.
An intuitive app, Moomoo appeals to beginner investors. However, it offers advanced features such as real-time market bids and trades for free. The platform also provides detailed technical charts so that you can better strategize your next trade.
Best for Cryptocurrencies: Webull
An online and mobile brokerage, Webull’s interface automatically appeals to Generation Z — investors who grew up in the digital age and have no recollection of the analog era. Webull offers a no-fee 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 fills a critical and relevant need.
Best for Professionals: TradeStation
Although the investing business received a massive boost in engagement because of the pandemic, a majority of these newcomers won’t turn to day trading as a career. For the intrepid few that dare to make this transition, TradeStation offers a perfect platform.
Featuring access to the most advanced trading tools and insightfully comprehensive research, TradeStation has a decades-long track record for assisting professional traders through the peaks and valleys of the investment markets. TradeStation features bulk pricing for high-volume trading, a huge benefit if you trade for a living.
Best for Convenience: M1 Finance
Offering a fresh take on the brokerage business, M1 Finance provides a unique service to those who want a hands-free approach to their portfolio development. Utilizing a strategy called “pie investing,” you have the option of selecting from 1 of 80 expert portfolio allocations. While clearly geared for the beginner investor, anybody can benefit from this approach.
While it’s tempting to swing for the fences, the smarter way to build your wealth is through consistent investing in solid businesses and opportunities. Each pie features a mix of carefully vetted stocks and ETFs so you stand a better chance of making money in the long run as opposed to the wild volatility of day trading.
What is TD Ameritrade?
TD Ameritrade is a full-service brokerage firm that opens access for an impressive array of investments: stocks, bonds, mutual funds, exchange-traded funds (ETFs), options, futures, forex, foreign ADRs and initial public offerings (IPOs) for qualifying account holders.
Though competition in the brokerage space is intense, TD Ameritrade has consistently stood out for its relevance for both beginner and advanced investors. Its personalized education suits your investing style and goals and you get the information you need to stay on track.
Why TD Ameritrade Might Not Be Right for You
Although TD Ameritrade has broad appeal, it might not fulfill your specific needs. While TD Ameritrade offers an incredible list of investing selections, it doesn’t include everything. For instance, while the company offers you access to cryptocurrency futures, it doesn’t allow you to invest in the actual digital tokens themselves.
Of course, this could be a disadvantage if you are a younger investor who prefers next-generation asset classes. You may not find much use of the offered educational materials or you may find them too stuffy. TD Ameritrade alternatives may offer much more satisfaction.
Consider TD Ameritrade Alternatives
Undoubtedly, TD Ameritrade is the benchmark for wide-ranging access to investment opportunities. Moreover, this brokerage is an appropriate choice whether you’re an advanced day trader or just starting your journey in the capital markets.
However, the business of investing is not a one-size-fits-all endeavor. You might prefer a platform that caters to convenience and intuitiveness because trading is not your top priority. Or you may be considering a career as a Wall Street regular. In either of these cases, TD Ameritrade may not have exactly what you want.
Make sure you understand what you’re trying to achieve. 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 deposit minimums. Everyone gets smart tools for smart investing. Webull supports full extended hours trading, which includes full pre-market (4:00 AM – 9:30 AM ET) and after hours (4:00 PM – 8:00 PM ET) sessions. Webull Financial LLC is registered with and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is also a member of the SIPC, which protects (up to $500,000, which includes a $250,000 limit for cash) against the loss of cash and securities held by a customer at a financially-troubled SIPC-member brokerage firm.