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- 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 plus $0.75 per contract
- No-load mutual funds: $49.99
- Treasuries at auction: $25 flat fee
- All other bonds and CMOs, CDs: on a net yield basis
- Futures: $3.50 per contract (inclusive of exchange fees)
- Investment products: stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
- Minimum to open TD Ameritrade account: $0 for cash account, $2,000 for margin account
- All TD Ameritrade fees
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- Stocks and ETFs: $8.95
- Stocks and ETFs broker assisted: $33.95
- Stocks and ETFs phone trades: $13.95
- Options: $8.95 plus $0.75 per contract
- Mutual funds: $49.95. Mutual Fund OneSource® Funds - free
- CDs, Corporate Bonds, Municipal Bonds, Government Agencies, Zero-Coupon Treasuries, including STRIPS and Mortgage-Backed Securities: $1 per bond, $10 minimum, $250 maximum
- Preferred Stocks and REITs: $8.95
- Commercial Paper and Foreign Bonds, Unit Investment Trusts: call for pricing
- Investment products: stocks, bonds, mutual funds, futures, treasury issues, options, CDs, insurance, ETFs,
annuities, non-U.S. securities and ADRs, WEBs and Canadian foreign orders
- Minimum to open Charles Schwab account: $1,000
- All Charles Schwab fees
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- No surcharges on penny stocks, large orders and after-hours trading
- Large and well known company with many local branches
- Very good trading platform
- Free IRA accounts
- No maintenance and inactivity fees
- Free streaming quotes
- Large selection of independent, third-party research (S&P, Morningstar Associates, and ResearchTeamTM)
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- Traditional banking features: credit cards and checking accounts
- Around 300 offices for personal visits, deposits and 24/7 support
- Great, varied research
- Rich selection of investment products
- Low minimum balance requirement: $1,000
- Excellent customer service
- Free dividend reinvestment
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- $9.99 commission for stocks/ETFs and $49 commission for mutual funds are high
- Occasional poor order execution
- The website is sometimes very slow or even down on the high volume days
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- High commissions on stocks, options, mutual funds and ETFs
- Average trading tools
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Ameritrade vs Charles Schwab: Comparison Summary
Charles Schwab (Charles Schwab Review) and
TD Ameritrade (TD Ameritrade Review)
are some of the most recognized, largest
online brokerage houses in the country.
They have very similar trading commissions and fees, and target the same category of customers - buy-and-hold and retirement
account investors.
Charles Schwab provides somewhat better than the competitor customer service. It also does not have order execution and website
performance problems that happen to TD Ameritrade occasionally on high volume days.
TD Ameritrade and Charles Schwab don't have account inactivity and maintenance fees, as well as surcharges on large orders,
penny stocks and after-hours trading. There are also no IRA setup and annual fees, and we recommend TD Ameritrade for a fee-free
IRA account.
TD Ameritrade bought one of the best online brokers - ThinkorSwim and it benefits a lot from this acquisition. The firm
provides rich selection of third-party research, free streaming quotes and very good trading tools. Out of these
two online brokers, it would be our recommendation to all investors.
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