4-star brokerage firm rating

TDAmeritrade review

4-star brokerage firm rating

Etrade Review

TD Ameritrade vs Etrade



TD Ameritrade vs Etrade 2014: Account Pricing, Commissions, Fees



TD Ameritrade


Etrade

  • Stocks and ETFs: $9.99
  • Stocks and ETFs broker assisted: $49.99
  • Stocks and ETFs interactive voice response (IVR) telephone system: $34.99
  • Options: $9.99 + $0.75 per contract
  • No-load mutual funds: $49.99
  • Treasuries at auction: $25
  • All other bonds and CMOs, CDs: on a net yield basis
  • Futures: $2.25 per contract (plus exchange & regulatory fees)
  • Forex: Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.
  • Investment products: stocks, mutual funds, options, ETFs, bonds, CDs, UITs, futures, and forex
  • TD Ameritrade\TDA minimum deposit to open account: $0 for cash account, $2,000 for margin account
  • All TD Ameritrade fees

  • Stocks and ETFs: $9.99 ($7.99 if making 150+ trades per quarter)
  • Stocks and ETFs broker assisted: $34.99
  • Options: $9.99 + $0.75 per contract ($7.99 + $0.75 if making 150+ trades per quarter)
  • Mutual funds: $19.99
  • Futures contracts: $2.99 per contract, per side + fees
  • Forex: markup or markdown will be included in the prices quoted on the E*TRADE FX trading platform
  • Fixed Income: markup or markdown and any transaction fee will be included in the price quoted
  • Bonds: $1 per bond (minimum $10, maximum $250) for online secondary market trades. Includes Agency bonds, Corporate bonds, Municipal bonds, Brokered CDs, Pass-thrus, CMOs, Asset Backed Securities.
  • Investment products: stocks, bonds, mutual funds, forex, fixed income, futures, options, ETFs
  • Etrade minimum deposit to open account: $500 for non-retirement cash account, $0 for retirement cash account, $2,000 for margin account
  • All Etrade fees



TD Ameritrade vs Etrade: Pros



TD Ameritrade


Etrade

  • No surcharges on penny stocks, large orders, or after-hours trading
  • Large and well known company with 126 local branches
  • Two excellent trading platforms: ThinkOrSwim and Trade Architect
  • Practice trading without risking your own money using paperMoney
  • No-fee IRA accounts
  • No account maintenance or inactivity fees
  • Rich selection of independent, third-party research from 12 firms (Standard & Poor's, Morningstar, Jaywalk, TheStreet, etc.)
  • Large number of mutual funds - over 13,000 available; 2,500 NTF (no-transaction fee) funds
  • Free DRIP: dividend reinvestment plan

  • No account maintenance or inactivity fees
  • Large and well established company
  • Powerful trading tools
  • No IRA account fees, and no minimums with electronic statements and confirmations
  • Low minimums to open accounts: $500 for cash account, $0 for retirement cash account, $2,000 for margin account
  • Banking products available: checking, savings, money market accounts, CDs, and credit cards
  • No surcharges on large orders or penny stocks
  • Great research amenities from S&P, MorningStar, Thompson Reuters, Credit Suisse, Smart Consensus
  • Access to trading on 40 foreign exchanges
  • Free streaming quotes
  • Very broad selection of products: 8,000 mutual funds, every ETF sold, over 30,000 bonds, securities from 77 international markets, 1,300 no-load, no-transaction fee mutual funds, 90 commission-free ETFs



TD Ameritrade vs Etrade: Cons



TD Ameritrade


Etrade

  • At $9.99 for stocks and ETFs and $49 for mutual funds, commission rates are very high
  • Extremely high margin rates

  • High commissions on stocks and ETFs
  • High margin rates
  • $0.005 per share surcharge on extended hours trades (ECN fee) and on trades executed through E*TRADE Pro at an ECN during both regular market and extended hours sessions
  • E*TRADE Pro platform is available at no charge only to customers who execute at least 30 stock or options trades during a calendar quarter



Etrade vs TD Ameritrade: Comparison Summary


E*trade (Etrade Review) and TD Ameritrade (TD Ameritrade review) are some of the best known brokerage houses in the nation, and both are also publicly traded companies. Neither is particularly cheap, though: $9.99 per stock and ETF trade. On the bright side, unlike most other brokers Etrade and TD Ameritrade don't levy surcharges on penny stocks or large orders.

Etrade and TD Ameritrade offer their customers a rich selection of banking services - checking, savings, money market accounts, CDs and credit cards. Both online brokerages don't have IRA setup or annual IRA fees, and we recommend Etrade for a fee-free IRA account.

Active traders (those who execute at least 30 stock or options trades during a calendar quarter) get free access to Etrade Pro - the firm's direct-access desktop trading platform that lets users find the top performing sectors, industries, and stocks in just three clicks. Customers can also watch fully integrated live-streaming CNBC right from their desktop. Unlike other professional trading platforms that usually come with steep monthly fees, this one is completely free for customers. The firm provides great selection of third-party research, free streaming quotes, and trading tools that are better than what’s offered by most competitors.

These two brokerage houses are actually very similar. Even their promotional offers are the same. Thanks to much lower mutual funds commissions, we believe that Etrade offers more value to prospective customers than TD Ameritrade.


TD Ameritrade Promotion - 60 days free
trading + up to $600:

TDAmeritrade review


Etrade Promotion - 60 days free
trading + up to $600:

Etrade Review


This article was updated on 2/8/2014.



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