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TD Ameritrade Review
TD Ameritrade no longer exists on its own. Charles Schwab bought it in 2020 and shut its platform in May 2024, moving every account to Schwab.
Min Deposit
N/A
Spreads From
Not applicable, TD Ameritrade itself no longer operates
Max Leverage
Set by Schwab margin rules today, not by TD Ameritrade
Platforms
thinkorswim, now under Schwab, Schwab.com
Pros
- Backed by Charles Schwab, a large SEC and FINRA regulated broker dealer
- Thinkorswim, TD Ameritrade's flagship platform, still runs under Schwab
- Client accounts and cash protections carried over through SIPC coverage
- One of the biggest brokers in the US by combined client assets
Cons
- TD Ameritrade itself closed in May 2024 and takes no new clients
- There is no independent TD Ameritrade license or regulator to check today
- Former clients had to learn a new Schwab login and account interface
- Not built for leveraged forex trading, this is a US stock and options broker
TD Ameritrade grew from a 1975 Omaha discount broker into one of the biggest names in US online trading, and it bought the options platform thinkorswim in 2009. Charles Schwab agreed to buy TD Ameritrade in November 2019 in an all stock deal worth about 26 billion dollars, and the purchase closed in October 2020.
The brand did not vanish right away. Client accounts moved to Schwab in stages between 2023 and 2024. The separate TD Ameritrade platform and website closed for good in May 2024, and thinkorswim survived as a Schwab product. If you search for TD Ameritrade today, you are really looking for Charles Schwab and Company.
Charles Schwab and Company is the real operator now. It is a broker dealer registered with the SEC, a member of FINRA under CRD number 5393, and a member of SIPC, which covers client securities up to standard limits. There is no separate TD Ameritrade license left to check, since the firm was folded fully into Schwab.
Max Leverage
Set by Schwab margin rules today, not by TD Ameritrade
Spreads From
Not applicable, TD Ameritrade itself no longer operates
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
