Stock Broker Reviews

TD Ameritrade versus Bank of America Online Investing comparison



TD Ameritrade review 2010 Bank of America brokerage review


Ameritrade vs Bank of America Trading Fees and Investments Offered




Ameritrade


Bank of America

  • Stocks and ETFs: $9.99
  • Options: $9.99 plus $0.75 per contract
  • No-load mutual funds: $49.99
  • Investment products: stocks, bonds, mutual funds, options, ETFs
  • Minimum to open account: $1,000 equity is required to open an IRA, and $2,000 to open any non-IRA account
  • All TD Ameritrade fees and margin rates

  • Stocks and ETFs: $14 per trade ($10 for checking account customers)
  • Telephone Orders: $32.50. Broker Assisted Trades: $42.50
  • Options: $19.95 + $1.50 per contract
  • Mutual Funds: 1,900 no transaction fee mutual funds, except when mutual fund shares held for 90 days or less are exchanged or redeemed; $45 minimum per transaction for non-NTF funds
  • Bonds: call 1.800.926.1111 to get pricing
  • Investment products: stocks, treasury bills, notes & bonds, govt. agencies, municipal notes & bonds, corporate bonds, mutual funds, ETFs
  • Minimum to open account: $0
  • All Bank of America Brokerage fees and margin rates




Compare Ameritrade and Bank of America Pros



Ameritrade


Bank of America

  • No surcharges for penny stocks, large orders and after-hours trading
  • Large and well known company with many branches
  • No maintenance and inactivity fees
  • Large selection of third-party research

  • Full service brokerage available for wealthy investors
  • Free dividend reinvestment
  • Minimum to open: $0




Compare Ameritrade and Bank of America Cons



Ameritrade


Bank of America

  • $9.99 commission for stocks/ETFs is high, $49 commission for mutual funds is extremely high
  • Poor order execution
  • The website is sometimes very slow or even down on the most crucial days

  • Very high commissions on all investments
  • Poor customer service
  • Semiannual maintenance fee: $50 (waived with personal checking account relationship)
  • Messy account opening process




Ameritrade vs Bank of America: Comparison Summary



Bank of America (BOA) and TD Ameritrade are some of the largest investment firms in the nation. Both companies have high commissions though: $9.99 per stock and ETF trade (need checking account at BOA to get this rate). Bank of America also charges $50 semiannual maintenance fee.

BOA brokerage offers its customers good banking services and free dividend reinvestment. The firm does not suffer from website slowness and order execution problems that happen at TD Ameritrade on high-volume days. Bank of America, however, needs improvement at account opening, trading tools and customer service.

Both firms do not have surcharges on penny stocks, large orders or extended hours trading orders. They also don't charge IRA setup and annual IRA fees, though they did not made it into our Best Brokerages for an IRA Account list.

There are better brokerage companies for beginner investors that offer vibrant online communities where members could ask questions, learn from more experienced traders and interact with each other. Check out our Best for Beginner Investor Brokers recommendations.

Commissions at both TD Ameritrade and Bank of America are just too steep. There are five Top Rated Brokerage Firms with much lower trading costs and excellent customer services.


TD Ameritrade Website

TD Ameritrade review 2010

Bank of America Website

Bank of America brokerage review

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