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TD Ameritrade
TD Ameritrade is a US-based brokerage that offers a reputable online trading platform, thinkorswim, which allows individual or professional traders and investors to trade financial products such as stocks, ETFs, mutual funds, options, futures, cryptocurrencies, and treasuries.
What is TD Ameritrade
TD Ameritrade is a broker founded in 1971 in Nebraska, US – then known as Ameritrade. Over a series of mergers and acquisitions, an acquisition by TD Waterhouse in 2006 gave TD Ameritrade its name. Most recently in October 2020, TD Ameritrade was acquired in a US$22 billion deal by the California-based Charles Schwab Corporation.
TD Ameritrade Singapore
The United States aside, TD Ameritrade also operates in China, Hong Kong, Malaysia, Singapore etc. In Singapore, TD Ameritrade’s office is located at 1 Temasek Avenue, Millenia Tower, open from 9 am to 5pm, Mondays through Fridays. Due to COVID-19, the office is not accepting walk-ins. You can instead reach TD Ameritrade’s customer service hotline at 6823 2250.
TD Ameritrade Account
If you are looking to open your first TD Ameritrade account, TD Ameritrade does not have tiered account types and does not require any minimum deposits for you to qualify for a TD Ameritrade account. The account opening process is quite straightforward – you can simply scroll up and apply for an account on this page.
TD Ameritrade Fees and Charges
Commission Fees
TD Ameritrade charges $0 no commission fee if you’re trading online stock, ETFs, and options in US markets. If you are trading options, TDAmeritrade charges US$0.70 per contract with no ticket charges, exercise, or assignment fees. Otherwise, TDAmeritrade charges US$2.41 per contract for futures and futures options, and US$7.44 for online trades of OTC (over the counter) stocks.
Account Transfer Fee
If you are transferring your account to TD Ameritrade via ACAT (automated customer account transfer), you will not be charged a fee unless you hold non-standard assets.
Update: TD Ameritrade is no longer servicing retail clients as of 27 Oct 2023.
TD Ameritrade Fees and Charges: A Summary
| TD Ameritrade | Fees | |
|---|---|---|
| Options | US$0 commission fee, US$0.70 per contract fee | |
| Stocks | US$0 commission fee, US$7.44 for online OTC stocks | |
| ETFs | US$0 commission fee | |
| Futures/ Futures Options | US$2.41 per contract | |
| "Section 31" Fee | US$0.0000221 per US$1.00 of transaction proceeds | |
| Trading Activity Fee | US$0.000119 (per share), US$0.002 (per options), US$0.00075 (per bond) | |
| Full ACAT Transfer out | US$75 | |
| Outgoing Wire Transfers | US$25 | |
| Stock Certificate Deposit | US$0 | |
| Stock Certificate Withdrawal | US$500 |
thinkorswim desktop vs web vs mobile
TD Ameritrade’s flagship trading platform, thinkorswim, comes in desktop, web, and mobile versions and is popular amongst both beginner and professional traders and investors worldwide. While the thinkorswim platform comes with no platform fees and is free for all to access, trades are subjected to commission fees.
thinkorswim Desktop
TD Ameritrade’s thinkorswim desktop trading platform gains you access to 24/5 trading with exchanges worldwide, and trading products and instruments such as equities, options, futures, ETFs (Exchange Traded Funds), and FX (Forex). Features include technical analysis tools such as monkey bars, renko charts, advanced analysis customisation coding tool, thinkScript, and scanning tool, Stock Hacker.
thinkorswim Web
If you have an existing trading relationship with TD Ameritrade, the web thinkorswim trading platform allows you to access your watchlists, positions, and transactions wherever you go - so long you have internet access. If you are new to TD Ameritrade’s thinkorswim platform, you can set up a demo paperMoney account with US$100,000 virtual money to try out the trading platforms available before you commit.
thinkorswim Mobile
If you are trading on the go, the thinkorswim iOS or Android mobile app allows you access to your positions, account history, charts, price alerts, watch lists, news, reports, and order entries on your phones, tablets, and even your Apple Watch.
How to Open a TD Ameritrade Account in Singapore
To open a TD Ameritrade account in Singapore, you can simply scroll up and click on the TD Ameritrade bubble to view more details and apply. Otherwise, you can visit the TD Ameritrade website to initiate your application.
Step 1
Apply for CDP
If you are interested to start trading or investing in shares in Singapore, you should have your CDP (Central Depository) account with SGX (Singapore Exchange Limited) ready. Your CDP account holds the shares you own and is supervised by the MAS (Monetary Authority of Singapore). To set up either an individual or joint account, first visit the SGX website, click on “Securities”, “Retail Investor”, and followed by “Apply for CDP Securities Account”. You will then see “Online Application”.
Step 2
CDP or Custodian
TD Ameritrade Singapore offers custodian accounts with no custody fees. When you trade with a custodian account, the shares you buy will not be legally yours nor in your personal CDP account, but will be held by TD Ameritrade. In the event that you wish to transfer your shares to your personal CDP account, you will be able to initiate a withdrawal or outgoing transfer subject to exit fees of US$75 (full ACAT transfer out).
Step 3
Apply Online
To open a TD Ameritrade trading or investing account, scroll up to apply for an account easily online. Otherwise, visit the TD Ameritrade Singapore website, and select “Open new account”. You will be guided through an online registration form where you will be able to choose the type of account – individual or joint account – you would like to open and fill in the necessary details.
Step 4
Fund
Once your application has been approved, visit your account on the TD Ameritrade Singapore website. Click on “Deposit” and you will be able to fund your account via DBS/ POSB electronic transfer, cheque, TT or telegraphic transfer, or via an account transfer from another broker. There is no minimum deposit amount to open a TD Ameritrade account, although the recommended minimum funding is S$3,500.
Step 5
Learn to Trade
Whether you are an amateur or seasoned trader or investor, TD Ameritrade’s website and its trading platforms will have relevant educational materials, guides, and tutorials for you. If you are new to trading and investing, visit the TD Ameritrade Singapore website, find the drop-down menu and click on “Education” followed by “TD Ameritrade Academy” to sign yourself up for a 5-week online course.
Step 6
Your First Trade
Open your TD Ameritrade website or thinkorswim platform and search for the ticker symbol of your stock of choice – for instance, ”KO” for Coca-Cola Co. Click on “Buy” and the trade ticket will appear. Fill in your order details such as buy or sell, quantity, order type, and time, before you click on “Review” and “Place Order”.
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TD Ameritrade Deposit and Withdrawals
What is TD Ameritrade's minimum deposit? Will I also be able to close my TD Ameritrade account easily in the future? These are common questions that we have while considering an online brokerage. Fret not, we have it all covered here.
Minimum Deposit
If you are opening a trading account with TD Ameritrade Singapore, there is no minimum deposit amount you have to fulfil – although the brokerage recommends a minimum funding of S$3,500.
Close TDA Account
Before you close your TD Ameritrade Singapore account, do remember to first close your positions and withdraw your funds. To withdraw your funds, you will have to request for an outgoing wire transfer via your TD Ameritrade “Account Centre” where you will see “Withdrawal” and “Wire Transfers”.
TD Ameritrade Trading Products
| TD Ameritrade Singapore | Trading Products | |
|---|---|---|
| Options | Access to options on US markets | |
| Futures | Access to over 50 futures products, 24/6 | |
| Stocks | Access to over 5,000 listed securities | |
| ETFs | Access to over 5,000 listed securities |
TD Ameritrade News and Research
TD Ameritrade offers market news, research, analysis, journals, reports, and articles across their web, desktop, mobile app, and social media platforms for both beginner and advanced traders and investors alike. If you are new to trading, TD Ameritrade offers a 5-week introductory course for beginners on the TD Ameritrade Singapore website.
TD Ameritrade Help Desk
To contact the TD Ameritrade customer service or help desk, you can call +65 6823 2250, WhatsApp the customer service desk at +1 855 281 8383, or visit the TD Ameritrade website to email the help desk team.
Who is TD Ameritrade Best For
Beginner Traders
TD Ameritrade is good for both beginners and professional investors or traders alike. One, there are no commission fees if you’re trading online stocks, ETFs, and options in US markets. For beginners, TD Ameritrade has a comprehensive online education and learning centre for you to learn the basics of trading. There is also no minimum funding amount required to open individual or joint TD Ameritrade accounts.
Advanced Traders
All users have access to TDAmeritrade’s free trading platform called thinkorswim for charting, screening, and technical analysis – advanced traders will also be able to sign up for advanced news services, data, or quotes for deeper analysis.
TD Ameritrade Summary
TD Ameritrade is good for both beginners and professional investors or traders alike. One, there are no commission fees if you’re trading online stocks, ETFs, and options in US markets. All users also have access to TDAmeritrade’s free trading platform called thinkorswim for charting, screening, and technical analysis – advanced traders will also be able to sign up for advanced news services, data, or quotes for deeper analysis. For beginners, TD Ameritrade has a comprehensive online education and learning centre for you to learn the basics of trading. Finally, there is no minimum funding amount required to open individual or joint TD Ameritrade accounts.
Commonly Asked Questions
How much does it cost to open a TD Ameritrade account?
- There is no minimum funding amount to open a TD Ameritrade account. TD Ameritrade, however, recommends that investors and traders fund their accounts with at least US$3,500.
Is TD Ameritrade good for beginners?
- TD Ameritrade is a good place for beginners to start their investing or trading journey: there are no commission fees if you’re trading online stocks, ETFs, and options in US markets, access to TDAmeritrade’s trading platform called thinkorswim for charting, screening, and technical analysis, a comprehensive online education and learning centre, and no minimum funding amount to open individual or joint TD Ameritrade accounts.
Does Ameritrade charge a monthly fee?
- TD Ameritrade does not charge monthly fees for its individual and joint accounts, nor for access to its thinkorswim trading platform. However, monthly fees may apply if you subscribed to add-on services such as streaming news, data, or quotes.
Is TD Ameritrade free?
- TD Ameritrade does not require you to fork out any minimum funding amount to open an individual or joint account. Its free online trading platform, thinkorswim, allows you to chart, scan, and research data. Finally, TD Ameritrade offers $0 commission fee if you are trading online stocks, ETFs, and options in US markets.
What is TD Ameritrade’s margin interest rate?
- If you are interested in opening a margin account with TD Ameritrade, your account will be charged an interest fee monthly depending on the amount that you borrow. For amounts under US$10,000, the effective margin interest rate will be 9.50%. For amounts between US$10,000 and US$24,999.99, the effective margin interest rate will be 9.25%, and so on.
How to Buy Options on TD Ameritrade
- To buy options on TD Ameritrade, login to your paperMoney account on TDAmeritrade’s thinkorswim trading platform. On the top left hand corner of the screen, you will find the “Trade” tab. You will then need to enter your stock of choice’s symbol, see and choose expiration dates, strike prices, and place the trade before you submit your order. If you’re new to TD Ameritrade options trading, there are step by step tutorials and guides on TDAmeritrade’s TickerTape website. Finally, if you are new to options but interested in learning to trade options – how many shares are there in a standard contract, what is the premium, what is the difference between a call and put option – you can learn more about trading options on the TD Ameritrade Education website.