The best alternatives to TD Ameritrade are
- Interactive Brokers - US discount broker
- Charles Schwab - US discount broker
- Tradestation - US stockbroker
Let's see in a bit more detail how the TD Ameritrade alternatives compare to TD Ameritrade and each other:
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Overall score | 4.5 | 4.8 | 4.6 | 4.4 |
| Fees score | ||||
| Account opening score | ||||
| Deposit and withdrawal score | ||||
| Web platform score | ||||
| Markets and products score | ||||
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to TD Ameritrade? There are many areas based on which TD Ameritrade can be compared with others. When we say a given online broker is a good alternative to TD Ameritrade we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
TD Ameritrade alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- TD Ameritrade is recommended for investors and traders looking for solid research and well-equipped desktop trading platform
- Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
- Charles Schwab is recommended for investors and traders looking for solid research, low fees, and great customer service
- Tradestation is recommended for traders wanting great research tools and preferring the us markets
Important factors of finding TD Ameritrade alternatives
So far Brokerchooser has reviewed 51 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether TD Ameritrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts TD Ameritrade charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than TD Ameritrade.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at TD Ameritrade, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given TD Ameritrade alternative is a must.
Now let's dive into the details of how TD Ameritrade and its alternatives perform in the most important areas!
TD Ameritrade alternatives
TD Ameritrade
4.5
5 stars
TD Ameritrade was founded in 1971 and it is one of the big US discount brokers. It is regulated by top tier regulators, like US SEC.
TD Ameritrade is considered safe because it has a long track record, is listed on stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research and well-equipped desktop trading platform
- Solid research and education
- Superb desktop trading platform
- Great customer support
- High trading fees
- No credit/debit cards and electronic wallets for money transfer
- Only US markets covered
Fees 3 stars
TD Ameritrade has high trading and low non-trading fees. It charges no commission for some ETFs, bonds, and mutual funds.
- No withdrawal fee
- No inactivity fee
- High trading fees
- High financing rate
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Apple benchmark fee | $14.1 | $2.2 | $10.1 | $2.2 |
| Vodafone benchmark fee | - | $17.9 | - | - |
| EURUSD benchmark fee | $44.3 | $23.0 | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 3 stars
Opening an account is easy, but not fully digital. For US-clients there is no minimum deposit.
- User-friendly
- Many account types
- No minimum account balance for US clients
- Not fully digital
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $500 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days |
Learn more about TD Ameritrade minimum deposit here.
Deposit and withdrawal 2 stars
TD Ameritrade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
- Free withdrawal
- No deposit fee
- User-friendly
- Credit/Debit card deposit and withdrawal not available
- Only one account base currency
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No |
| Electronic wallets | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $35 |
Web trading platform 4 stars
TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.
- User-friendly
- Clear fee report
- Good search function
- No two-step (safe) login
- Limited customizability (for workspace)
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Web platform score | ||||
| Mobile platform score | ||||
| Desktop platform score |
Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.
Markets and products 3 stars
At TD Ameritrade, you can trade with a lot of asset classes, from stocks to futures and forex. However, the offered products cover only the US market.
| TD Ameritrade | Interactive Brokers | Charles Schwab | Tradestation | |
|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | No | No |
| Fund | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes |
| Futures | Yes | Yes | Yes | Yes |
| CFD | No | Yes | No | No |
| Crypto | No | Yes | No | No |
Verdict
TD Ameritrade is one of the biggest discount US brokers regulated by top-tier regulators.
Research and education are outstanding and covers a lot of tools. The thinkorswim desktop trading platform is one of the best on the market. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It charges high fees. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets.
As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NASDAQ and has banking background (TD Group). |
| Fees score | |
| Recommended for | Investors and traders looking for solid research and well-equipped desktop trading platform |
TD Ameritrade alternatives
Interactive Brokers
4.8
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for traders who prefer low fees and a professional trading environment
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
Fees 4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | TD Ameritrade | |
|---|---|---|
| Apple benchmark fee | $2.2 | $14.1 |
| Vodafone benchmark fee | $17.9 | - |
| EURUSD benchmark fee | $23.0 | $44.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 3 stars
The account opening process is fully digital, but slow and complicated.
- Fully digital account opening
- No minimum deposit for most accounts
- Slow account opening
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | TD Ameritrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal each month
- Credit/Debit card deposit and withdrawal not available
- Slow funding and withdrawal - over 3 days
| Interactive Brokers | TD Ameritrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
- User-friendly
- Clear fee report
- Two-step (safe) login
- Limited customizability (for charts, workspace)
| Interactive Brokers | TD Ameritrade | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products 5 stars
Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
| Interactive Brokers | TD Ameritrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | Yes |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFD | Yes | No |
| Crypto | Yes | No |
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC. |
| Fees score | |
| Recommended for | Traders who prefer low fees and a professional trading environment |
TD Ameritrade alternatives
Charles Schwab
4.6
5 stars
Best research
Charles Schwab was founded in 1971 and it is one of the biggest US-based discount brokers. It is regulated by top-tier regulators, like the US SEC or the UK FCA.
Charles Schwab is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research, low fees, and great customer service
- Outstanding research
- Low fees
- Great customer service
- No credit/debit cards and electronic wallets for money transfer
- Only US markets covered
- Not well-structured education
Fees 4 stars
Charles Schwab has low trading and non-trading fees. It even charges no commission for some ETFs, bonds, and mutual funds. On the negative side, the fees for mutual funds and the financing rates are high.
- Low trading fees
- No inactivity fee
- Some ETFs, bonds, and mutual funds are free
- High financing rate
- High fees for mutual funds
| Charles Schwab | TD Ameritrade | |
|---|---|---|
| Apple benchmark fee | $10.1 | $14.1 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | $44.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 5 stars
Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. However, if you open an account outside the US, there is a $25,000 minimum.
- Fast account opening
- Fully digital account opening
- No minimum account balance
- For non-US clients $25,000 minimum
| Charles Schwab | TD Ameritrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Charles Schwab minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
Charles Schwab deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
- No deposit fee
- User-friendly
- Credit/Debit card deposit and withdrawal not available
- Only one account base currency
- High fee for wire withdrawals
| Charles Schwab | TD Ameritrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform 4 stars
Charles Schab's web platform is simple and easy to use. Even beginners can easily navigate it. On the negative side, it lacks two-step login and customizability.
- User-friendly
- Clear fee report
- Price alerts
- No two-step (safe) login
- Limited customizability (for charts, workspace)
| Charles Schwab | TD Ameritrade | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Charles Schwab's web trading platform in the detailed Charles Schwab review.
Markets and products 3 stars
At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. However, the offered products cover only the US market.
| Charles Schwab | TD Ameritrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | Yes |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFD | No | No |
| Crypto | No | No |
Verdict
Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.
Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. It charges low trading and non-trading fees. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. Lastly, the educational tools are not well-structured.
As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.
| Charles Schwab | |
|---|---|
| Summary | Charles Schwab is a US discount broker, regulated by top-tier regulators, the SEC and FINRA. The company is listed on NYSE and holds a banking license. |
| Fees score | |
| Recommended for | Investors and traders looking for solid research, low fees, and great customer service |
TD Ameritrade alternatives
Tradestation
4.4
4 stars
TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.
TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for traders wanting great research tools and preferring the us markets
- Great mobile trading platform
- Wide range of reserach tools
- High-quality educational tools
- Not user-friendly deposit and withdrawal
- No forex
- Bad customer service
Fees 4 stars
TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
- Low trading fees
- More fee structures you can choose from
- High non-trading fees
| Tradestation | TD Ameritrade | |
|---|---|---|
| Apple benchmark fee | $2.2 | $14.1 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | $44.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening 4 stars
TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
- Fully digital account opening
- User-friendly
- Slow account opening
| Tradestation | TD Ameritrade | |
|---|---|---|
| Minimum deposit | $500 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Tradestation minimum deposit, this overview will help you.
Deposit and withdrawal 2 stars
TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
- No deposit fee
- Credit/Debit card deposit and withdrawal not available
- Not user-friendly
- High withdrawal fee (for non-US clients $35 /tansaction)
| Tradestation | TD Ameritrade | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $35 | $0 |
Web trading platform 4 stars
TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
- User-friendly
- Good customizability (for charts, workspace)
- Good variety of order types
- No clear fee report available
- No price alerts
| Tradestation | TD Ameritrade | |
|---|---|---|
| Web platform score | ||
| Mobile platform score | ||
| Desktop platform score |
Learn more about Tradestation's web trading platform in the detailed Tradestation review.
Markets and products 2 stars
TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
| Tradestation | TD Ameritrade | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | Yes |
| Fund | Yes | Yes |
| Bond | No | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| CFD | No | No |
| Crypto | No | No |
Verdict
TradeStation is a great US broker.
The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality.
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.
Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.
| Tradestation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Traders wanting great research tools and preferring the US markets |
TD Ameritrade alternatives
Bottom line
Based on our analysis, there are several good alternatives to TD Ameritrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| TD Ameritrade | US-based stockbroker | Investors and traders looking for solid research and well-equipped desktop trading platform |
| Interactive Brokers | US discount broker | Traders who prefer low fees and a professional trading environment |
| Charles Schwab | US discount broker | Investors and traders looking for solid research, low fees, and great customer service |
| Tradestation | US stockbroker | Traders wanting great research tools and preferring the US markets |
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