We were in the mood to invest, so we thought it’d be a great idea to explore some online stock trading services. Okay, so maybe it was our next review category, but hey, maybe we’ll make a dollar or two in the process!
On a more serious note, in today's money market, finding the right company to trade with can often mean the difference between a profitable investment or a huge loss. Star Reviews had to look at TD Ameritrade Online Stock Trading, as they are a well-known name in the finance world. We were fond of how resourceful and intuitive their website interface was, catching our eye with its vibrant black and green layout. Continue on for what we thought of the site.
What's New with TD Ameritrade Online Stock Trading?
- Voice response phone trading system
- Market Motion Detector - stay on top of market trends
- QuoteScope - Liquidity changes for each participant and price-so you can find and act on potential opportunities quickly.
Star Reviews Favorite TD Ameritrade Feature:
TD Ameritrade offers extended hours stock trading, which is very attractive for those who want to stay on top of the market at various hours of the day. For many of us who work throughout the day, this is an added bonus.
About TD Ameritrade Online Trading:
TD Ameritrade has been providing brokerage services since 1975 and they were one of the first companies to offer online stock trading on the Web. Back in 1994, when other brokerage firms were still trading stocks the old-fashioned way, TD Ameritrade was launching WealthWEB, the first Internet trading site. Today, TD Ameritrade offers its customers over 100 branches in their network nationwide.
Navigating the TD Ameritrade website:
We really appreciated how professional and clean their user interface was. Although the website consists of numerous sections and offers many services, navigating the site doesn't make you feel like you are wading through overwhelming amounts of information. Everything flows well and the interface is very user-friendly. Some of their stock trading competition could take a lesson from the Ameritrade layout. We especially liked the useful tabs like ‘Portfolio & Accounts’ and ‘Trading Tools.’ In each of these categories, we found everything we needed pretty effortlessly, as they were arranged in neat columns with just-the-right size text.
Getting Started with TD Ameritrade:
Opening your stock-trading account is very simple. Each page of the application is dedicated to one question, with helpful hints and guidelines to explain phrases like ‘Margin & Option trading’ in case you’re a novice stock trader. The entire application took us about 15 minutes to finish, which was pretty quick in our books. If you’re wary of Internet dealings, you have the option to fill out a hard copy application and mail it in. We applaud TD Ameritrade Online Trading for recognizing its customers’ diverse needs. Once your account goes through, you will be able to transfer funds electronically and begin trading! It’s that simple.
The TD Ameritrade Online Trading Process:
We loved the numerous availabilities that TD Ameritrade offers its traders. You can monitor your Balances & Positions to keep track of your net worth, all while tracking your funds in an easy-to-view combined account feature. When depositing or withdrawing funds, simply click in the designated circles reminiscent of what you see in online banking to complete your transaction.
We really admire their partnership with GainsKeeper,® which acts as a trading capital gains and losses tool accountants are familiar with. Your portfolio securities will automatically be adjusted for stock splits, mergers, etc. so there is no need to worry. If you’re the type of stock trader who likes to keep up to date at all times of the day, the Trade Triggers tool will allow you to pre-program trades after defining advanced market conditions. We truly appreciated all of TD Ameritrade’s functional features.
TD Ameritrade Features:
- Real-time trades.
- Five-second trade time guarantee on qualifying S&P 100 Internet equity trades.
- At-a-glance market information.
TD Ameritrade Stock Trading Fees:
- Internet trades: $9.99 each.
- Telephone voice response trades: $34.99 each.
- Broker-assisted trades: $44.99 each.
Special Incentives:
- 30 days of free trades when you fund a new account with $2,000--plus get $100 cash if you fund your new account with $25,000.
- Roll over your old 401(k) into a TD AMERITRADE retirement solution and get up to $500.
Customer Support:
We thought that TD Ameritrade’s customer support was stellar. They offer support via telephone, FAQs, and online email support. This information was readily available, all listed under ‘Contact Us’ on the main site page. When we contacted TD Ameritrade via telephone, we spoke with a knowledgeable representative who was very detailed when explaining the services and requirements for opening an account.
Email support was also impressive, responding to us within one business day offering a helpful and informative response to our inquiry. We appreciated how there were several email links, such as ‘Deposit Status’ and ‘General New Accounts Questions.’ The FAQs database was fairly comprehensive, with basic questions and answers. There is also a fax and postal address available if you need it.
Upside:
Good customer service, extended-hours stock trading, 5-second guarantee.
Downside:
Fees are higher than some of the other online stock trading services.