TD Ameritrade Review
⚠️ Now Charles Schwab
thinkorswim Platform
$0 Stock Commissions
US Stocks & Options Focus
📊 TD Ameritrade at a Glance — Profile & Stats
🏢 Who Was TD Ameritrade?
A major US brokerage founded in 1975, famous for the powerful thinkorswim platform and strong stock/options trading.
⚠️ Now Part of Charles Schwab
TD Ameritrade was acquired by Charles Schwab; all accounts migrated and the TD Ameritrade platform shut down in May 2024.
ℹ️ Update: You can no longer open a TD Ameritrade account — new clients open a Schwab account and still get thinkorswim.
🖥️ thinkorswim Lives On
thinkorswim continues as a Schwab product, actively maintained — advanced charting, analytics and paper trading across desktop, web and mobile.
💲 Fees
$0 stock/ETF commissions, options at $0.65/contract, no platform or US-market data fees, and no account minimum.
🌐 Markets
Primarily US stocks, ETFs, options and futures. Forex was always limited and rated only “average,” with relatively high spreads.
Why it matters: If forex is your main market, this is not the right broker — it shines for US stocks/options.
🛡️ Regulation & Reviews
US-regulated (SEC/FINRA) with SIPC protection. thinkorswim is widely acclaimed for its tools, though Trustpilot scores are low (mostly support complaints).
⚡ thinkorswim Platform & Tools
📊 Advanced Charting & Analysis
thinkorswim offers institutional-grade charting, studies, scanners and options analytics — a favourite of active US traders.
Why it matters: Its depth of tools is the main reason traders chose TD Ameritrade over cheaper apps.
🧪 paperMoney
A full paper-trading simulator lets you practise strategies risk-free with virtual funds.
📱 Desktop · Web · Mobile
Available as downloadable desktop software, a web app and full-featured mobile apps.
🎓 Education
The thinkorswim Learning Center and extensive tutorials make the powerful platform easier to learn.
🔄 TD Ameritrade Alternatives
Charles Schwab
The direct successor — opening an account here gives you thinkorswim plus Schwab’s services.
Interactive Brokers
Pro-grade global broker with low costs and genuine forex access — strong for active and international traders.
tastytrade
Options-focused broker from the thinkorswim founders, with low options fees.
E*TRADE
Well-rounded US broker (Morgan Stanley) with solid platforms and $0 stock commissions.
🧩 Pricing & Account
Stocks & ETFs
$0 commission on online US stock and ETF trades.
Options
$0.65 per contract, with no base ticket charge — competitive for options traders.
Futures & Forex
Futures available via thinkorswim; forex is limited with higher spreads than dedicated FX brokers.
No Minimum
No account minimum and no platform/data fees — you only pay the per-trade costs above.
Why it matters: Zero minimums make it easy to start, but US-market focus limits non-US/forex traders.
🔄 The Charles Schwab Transition
📅 Timeline
Schwab announced the TD Ameritrade acquisition in 2020, completed integration through 2023, and retired the TD Ameritrade platform in May 2024.
✅ What Stayed
The thinkorswim platform, $0 stock commissions and $0.65 options pricing carried over to Schwab largely unchanged.
ℹ️ Note: Existing TD Ameritrade clients were moved to Schwab automatically.
🆕 What to Do Now
To use thinkorswim today, open a Charles Schwab account — there is no longer a standalone TD Ameritrade signup.
🌍 Who It’s For & Availability
Access & Audience
TD Ameritrade / thinkorswim is built for US-based stock, options and futures traders who want a powerful desktop platform. It is not aimed at forex or non-US clients — dedicated FX brokers offer far better currency conditions. New accounts are opened through Charles Schwab.
🎥 Video Guides & Reviews
Watch: thinkorswim in Action
