TD Ameritrade Health Savings Account Review
TD Ameritrade is the leading online brokerage company and consistently wins top awards and honors each year. It offers investors a simple, efficient, and cost effective
way to invest money from their health savings accounts. The company provides four ways to place trades: website, telephone, mobile devices, and broker.
Setting up a new health savings account online with TD Ameritrade is straightforward and simple. You start by clicking on
their promotion offer: $0 commissions + transfer fee reimbursement.
Then you fill out TD Ameritrade
application forms. Customer support is easy to contact and a U.S. based customer service representative can help walk
clients through the process.
TD Ameritrade HSA Commission and Transaction Fees
Stocks and ETFs
Internet orders - $0
Interactive Voice Response (IVR) phone system orders $14.99
Broker-assisted orders $24.99
Options $0.65 fee per contract (Option exercises and assignments will incur a $0 commission).
Mutual Funds
No load - $49.99
Load – No Fee
NTF – No Fee
Fixed Income
All buy orders for bonds are subject to a five-bond ($5,000 par value) minimum.
Treasuries at Auction $25 Flat Fee
Online CD buy orders are subject to a two-CD ($2,000 par value) minimum.
TD Ameritrade HSA Fee Schedule
Deposit: $25
Non-mandatory and tender offers: $30
Mandatory: $20
Withdrawal from tender offer: $10
Duplicate Statements and Confirmations:
$5 per copy (no charge for electronic documents)
Research Fee:
$60 per hour
Alternative investments include limited partnerships, private placements, restricted securities, and other assets not traded on a national market
Per-Transaction Fee: $100
Custody Holding Fee - $250 per year per asset
TD Ameritrade Mobile App
TD Ameritrade features one of the best mobile apps in the brokerage services industry. Clients can trade stocks, transfer money, and deposit checks all with the click of a button. The mobile apps are optimized for iPhone, iPad, and Android Devices. TD Ameritrade consistently updates apps to prevent bugs and improve performance.
Simple sign in:
Detailed stock quotes:
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TD Ameritrade HSA Website
The TD Ameritrade website is easy to use and features a variety of tools to help both the beginning investor and advanced trader.
Advanced security measures prevent fraud:
Profile configurations make it easy to configure the website to personal preferences and settings:
Detailed stock analysis comes with easy to read charts, news, and earnings information.
TD Ameritrade also offers free research and rankings from Wall Street’s biggest banking and investment companies.
Clients can get a quick overview of their health savings account stock and mutual fund positions as a percentage of account balance:
TD Ameritrade HSA Pros and Cons
Pros
- Simple sign-in
- Easy to navigate
- Straightforward stock trading
- In-depth research available on stocks and mutual funds
- Extremely secure site
- Customizable
- Easy to transfer money between different accounts
Cons
- Can be overwhelming for inexperienced investors
- Gain and loss tracking hard to implement
Alternative
Anyone who wants a $0 cost, easy to use HSA should check out
Lively.
Company's HSAs are free for individuals and families, so you never have to worry about
hidden costs. Lively health savings accounts are FDIC-insured and use bank-grade security.
Open Lively Account
TD Ameritrade Health Savings Account Compared to Other Brokerages
TD Ameritrade is one of the biggest online brokerages in the business. Because of their sheer size, TD Ameritrade is able to invest heavily in mobile trading apps that are not only easy to use but also extremely responsive and intuitive. Clients might find themselves using the mobile app more than the desktop site.
TD Ameritrade HSA Customer Service
The customer service hotline is run out of a U.S. based call center. Customer service reps are not only helpful but also have a deep understanding of the stock market and can explain things in detail over the phone. Cheaper and smaller brokerages do not have the same service
TD Ameritrade HSA Tax Help
Unlike other cut-rate brokerages, TD Ameritrade makes filing taxes a breeze. Their platform connects well with popular tax filing services like Turbo Tax.
TD Ameritrade HSA Research
TD Ameritrade puts several research tools on its platform that smaller and cheaper brokerages would most likely charge a premium for.
Investment Options
Many health savings accounts limit clients’ options to just a few mutual funds and money market funds to invest in. With a health savings account with TD Ameritrade, clients can invest in any type of equity, mutual fund, bond or even buy options.
Brick and Mortar Stores
TD Ameritrade also has over 450 brick and mortar offices located across the U.S., something a lot of the cheaper and smaller
brokerages do not offer. Clients who visit one of these locations will receive a free investment consultation with an
experienced representative that will review their financial goals.
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