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TD Ameritrade Minimum Account Requirements
If you are looking for a good, low-cost brokerage, TD Ameritrade might meet your expectations quite well. You’ll like the broker’s approach to account, deposit, and trade minimums. The minimum age to have an account and low system requirements are also attractive.
Let’s take a look at TD Ameritrade’s minimum requirements for account management and trading software.
TD Ameritrade Minimum Deposits
To open an account at TD Ameritrade, you do not need to worry about how much you have to deposit. The broker doesn’t require any specific amount for a first deposit.
Of course, you will want to fund your new brokerage account, but the amount you decide to use is entirely up to you.
When choosing how much to deposit, remember that margin can only be used in accounts with a minimum of $2000.
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TD Ameritrade Margin Account Minimums
You can open many different types of accounts at TD Ameritrade, including custodial accounts, retirements accounts, cash accounts, and margin accounts.
For an account with margin capabilities (i.e., short selling and amplifying buying power with borrowed funds), you need to maintain a minimum account balance to use those services.
The account minimum is to use margin. If your account balance falls below the $2000 threshold, you will need to bring your balance back up to continue using those services.
However, it is good to note that your margin account is still open and active if your balance falls below the required level for margin services. You can still trade but will not be able to use margin.
It’s also helpful to know that the $2000 account minimum comprises all assets in an account. Add up the value of your securities and cash balance to keep track of this requirement.
TD Ameritrade Minimum Balance Requirements
There are no minimum balance requirements at TD Ameritrade besides the ones for margin use. If you want to remove your securities or start a brokerage account with no deposit, it is possible at TD Ameritrade.
Because there are no minimums for deposits or account balances, TD Ameritrade has become one of the most popular brokers for investors looking for professional tools without financial commitment.
Considering that investment accounts, paper trading accounts, advanced charting solutions, and multi-device access are available at no cost, it is easy to see why the broker is as popular as it is.
TD Ameritrade Trading Activity Minimums
Keeping in line with its zero-minimum approach, TD Ameritrade also allows traders to be inactive for extended periods. There are no weekly, monthly, quarterly, or annual trade activity requirements to be concerned with.
TD Ameritrade Minimum Age Requirements
To open an investment account with TD Ameritrade, you have to be at least 18 years old. That age requirement is not specific to TD Ameritrade, though. Every broker in the U.S. has the same minimum age requirement.
That said, minors can open brokerage accounts through someone else. Anyone over 18 can open a custodial account in a minor’s name. While the child can’t withdraw funds until the age of 18, the account and all the assets within it belong to them.
TD Ameritrade Minimum Balance Requirement for Day Trading
Another minimum to note at TD Ameritrade is the minimum balance requirement for active traders. This requirement is not specific to TD Ameritrade, but it is something that you should know if you plan to trade actively.
Every trading account must maintain a minimum balance of $25000 if the investor wants to make more than three round-trip trades weekly. This is known as the PDT (pattern day trader) rule.
There are a few ways to get around the PDT rule, but generally, the $25000 minimum is a requirement for day/active traders.
TD Ameritrade Minimum System Requirements
Another minimum requirement relates to the system you use to connect to the broker. Fortunately, there are no extreme requirements, but it is best to use a newer OS with enough power and RAM to handle the charting software and data feeds. The minimum requirements are closely tied to how you will use the software.
If you plan to use the professional trading platform (thinkorswim/TOS) and want to utilize several charts and tools simultaneously, increasing your PC specs will help you do that much easier.
TD Ameritrade Minimum Requirements
Processing Power -> Intel i3
RAM -> 4GB
Display -> 1280x768
Graphics -> integrated
Recommended System Capabilities
OS -> i7
RAM -> 16/32 GB
Display -> 4K
Graphics -> multi-thread dedicated card
TD Ameritrade Minimum Deposit Amounts
| TD Ameritrade minimum to open a cash account | $0 |
| TD Ameritrade minimum to open a margin account | $2,000 in cash and/or securities |
| TD Ameritrade minimum initial deposit to open a ROTH IRA, Traditional IRA, Simple IRA, or SEP IRA | $0 |
| TD Ameritrade minimum balance requirement for a taxable account or an IRA | none |
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TD Ameritrade Account Minimums Summary
As you can see, TD Ameritrade has no restrictive account minimums. If you want to open an account with the broker but do not want to worry about how many trades you are making or the amount of capital you have in your account, TD Ameritrade is an excellent option.
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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.
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