TD Ameritrade Review

Best Traditional IRA Broker in 2014

Best traditional IRA brokerage firm in 2014. Top online broker for IRA: traditional retirement account fees, beginner support, trading tools, costs.

Best Traditional IRA Broker Pricing

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.

Investments 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
FeesTD Ameritrade fees

TD Ameritrade Traditional IRA Pros

  • 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

TD Ameritrade Traditional IRA Cons

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

Best Traditional IRA Brokerage Summary

TD Ameritrade is one of the best-known and largest online stock brokers in the country, and it has been in business for over 35 years. In 2013 Barron’s magazine rated TD Ameritrade #1 for Beginner Investors, and gave it top score in Best for Options Traders, Best for In-Person Visit and Best for Long-Term Investing categories. The same year Kiplinger's Personal Finance magazine ranked it #1 for an IRA account. SmartMoney magazine gave the company a 5-star rating (the highest available) for Banking Services, Trading Tools and Research.

We believe that TD Ameritrade is the best broker for Traditional retirement account since it does not have IRA setup fee, annual IRA fee, account inactivity or maintenance charges. The firm also does not charge additional commission on large orders, penny stocks and extended hours trading.

One of the great new tools that comes with any account at TD Ameritrade is access to the thinkorswim platform. The thinkorswim platform is a desktop application that you need to download from the TD Ameritrade website. To be eligible you only need to be a client of TD Ameritrade. Within the thinkorswim platform you can trade almost every type of investment that you can think of: stocks, options, FOREX and futures. In addition, it offers fantastic technical analysis tools for chart readers, which is critical for those of us that are traders. There’s also mobile app support for when you’re on the go. The charting and trading screens are very customizable to your preferences. You can move windows around, change colors and add or subtract hundreds of preset technical studies, including some that you can only find in thinkorswim, like "market forecast", "trade the market" and others. You also get drawing tools to draw your own support and resistance lines on the charts.

We strongly recommend TD Ameritrade for Traditional IRA account. Investors can open Traditional IRA cash account online with no money down in about 10-15 minutes and give it a try. (Read full Ameritrade review).

TD Ameritrade Promotion Offer:

Trade free for 60 days + get up to $600.

This article was updated on 1/31/2014.

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