TD Ameritrade Competitors


Who are the biggest TD Ameritrade competitors and alternatives? Companies like TD Ameritrade (similar companies) in 2022.


TD Ameritrade Competitors


If you have a brokerage account at TD Ameritrade or are considering opening one, you likely already know that the broker comes with many bells and whistles. TD Ameritrade is a full-service broker offering numerous services and products that investors can take advantage of.

Although there are undoubtedly many benefits to investing at TD Ameritrade, there are also several reasons to consider the broker’s competition.

Let’s take a look at TD Ameritrade’s top competitors.


Who Are TD Ameritrade’s Main Competitors?


Many top brokers can compete with TD Ameritrade. The one that you choose as your favorite will likely depend on how you use (or would use) TD Ameritrade. Whether you are looking for managed portfolios, Robo-investing, a streamlined mobile experience, loans, banking, or any other popular features available in today’s brokerage space, the ‘right’ alternative to TD Ameritrade should match your personal goals and expectations.

Here are a few of TD Ameritrade’s top competitors.


Ally Invest


Ally Invest is a popular choice for investors looking for services that go beyond the norm.

For trading, the broker offers a healthy range of investment products, self-directed investing, Robo-investing, managed portfolios, an intuitive trading platform, a convenient mobile app, and a no-commission pricing schedule.

In addition to the long list of investment services, Ally Invest also provides opportunities for banking services and loans (including mortgage and auto loans).


TDA Competitor


How is Ally Invest Similar to TD Ameritrade?


There are some similarities between TD Ameritrade and Ally Invest. Both brokers offer forex trading, bonds, mutual funds, and commission-free trading in stocks and ETFs. Both also provide banking services, retirement accounts, and wealth management.


What Does Ally Invest Offer that TD Ameritrade Does Not?


Despite their similarities, Ally Invest and TD Ameritrade have some significant differences.

The first thing that you will notice is that Ally Invest has focused on making investing simple. Managed portfolios and Robo-investing are central to Ally Invest’s approach. The same services can be found at TD Ameritrade, but it takes a bit more time and energy to set them up. Instead of using TD Ameritrade to set up automated portfolios, investors must go to Charles Schwab to get the portfolio management.


TD Ameritrade Competitors


One area Ally Invest shines in is the web-based charting and trading platforms. While it is certainly true that TD Ameritrade offers advanced charting through thinkorswim, the web-based charting at Ameritrade leaves much to be desired. Ally Invest has a streamlined charting experience that is easy to use, looks great, and has many capabilities.


Ally Invest Promotion



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Firstrade


Firstrade is another top competitor to TD Ameritrade. Firstrade is a decades-old broker that has garnered a loyal following over the years.

Best known for its approach to zero-commission trading (including options, OTC securities, and mutual funds), easy access to penny stocks, and cryptocurrency investing, Firstrade is a solid choice for anyone looking for a good broker.


Companies like TD Ameritrade


How is Firstrade Similar to TD Ameritrade?


Both Firstrade and TD Ameritrade offer a long list of investment products and services, use a zero-commission pricing schedule, have multiple accounts available, and provide in-depth investor education.

Some of TD Ameritrade’s features make it the more robust broker in many cases, but that is only true for investors looking for those specific investment products and services. If, for example, you are looking for futures and forex trading, or advanced charting tools, you may be happier at TD Ameritrade.

Firstrade is no slouch, however. You can look forward to many things at Firstrade that TD Ameritrade does not offer.


What Does Firstrade Offer that TD Ameritrade Does Not?


Of the features that help Firstrade stand out, cryptocurrency access and low commissions on OTC market securities are front and center.


TD Ameritrade Main Competitors


At TD Ameritrade, you would need to trade cryptocurrency-related securities if you wanted to take part in the world of digital assets. At Firstrade, you can trade crypto 24/7 with instant settlement. There are nearly 40 digital assets available for trade, and all you need to get started is $1.

Another nice feature is that there are no commissions on OTC Pink Sheets or OTCBB securities (penny stocks). You can trade penny stocks at TD Ameritrade, but you will pay more than $6 per trade for the privilege.


Firstrade Promotion



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Webull


Webull is an excellent alternative to TD Ameritrade if you are looking for a feature-rich, web-based investment experience that can be accessed from any device at any time.

Webull offers the same zero-commission approach to trading as TD Ameritrade, but it provides a few things that TD Ameritrade does not.


Ameritrade rival


Its browser-based trading platform, mobile app, and cryptocurrency access are a few notable reasons investors may choose to do business with Webull.


How is Webull Similar to TD Ameritrade?


For similarities, Webull offers an excellent trading platform suitable for both new and experienced investors. Webull also provides a highly functional mobile app, just as TD Ameritrade does.

A good range of investment vehicles is available at Webull, but there are more at TD Ameritrade. You can trade OTC securities, futures, mutual funds, bonds, and forex at TD Ameritrade, but these are not available at Webull.

TD Ameritrade also offers more investment services than Webull, including more investor education, a more comprehensive range of account types, and portfolio management for larger account holders.


What Does Webull Offer that TD Ameritrade Does Not?


There are many reasons that investors would choose Webull over TD Ameritrade.

Cryptocurrency trading directly in the crypto marketplace is one of those reasons. Thanks to a partnership with Apex Crypto, Webull provides access to more than 40 digital assets. Investors can trade them 24/7, and positions can be opened for as little as $1.


TD Ameritrade alternatives


The entire extended hours session is another standout feature. TD Ameritrade offers trade from 7 am to 8 pm EST, while Webull’s extended hours session runs from 4 am to 8 pm EST.

One more thing that Webull offers that TD Ameritrade does not is a continuous promotional offer of free stocks to new and existing users. Webull’s promotions are some of the most generous in the industry.


Webull Promotion



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Updated on 6/6/2022.


Ben Wright
About the Author
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.