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TD Ameritrade CDs: Cost, Fees, and How To Buy in 2020

TD Ameritrade CDs: how to buy and sell Certificates of Deposit. TD Ameritrade CDs cost and fees. Brokered CD vs bank CD.

CD’s at TD Ameritrade

Did you know that besides stocks and mutual funds, you can buy certificates of deposit at TD Ameritrade? Yep, it’s true. Although the brokerage firm isn’t a bank, it does provide trading in CD’s. Technically, they are brokered CD’s. And we’re going to show you how to trade them.

TD Ameritrade Brokered CD’s v. Bank CD’s

First, it’s important to understand the differences between a bank CD and a brokered CD. As the term implies, brokered CD’s are available through brokerage firms, while bank CD’s are available through banks. The primary advantage of choosing brokered CD’s is that you get $250,000 of protection for each bank name held in your investment account. So if you had four CD’s from four different banks, you would get $1,000,000 of FDIC protection instead of just 25% of that amount. Instead of going to four different banks to buy four separate CD’s, you can buy them all in one brokerage account, which obviously is more convenient.

The second major advantage of a brokered CD is that it can be sold on the secondary market instead of cashing it in prior to maturity and taking a penalty. This does, however, carry risks, such as lack of liquidity or a rise in interest rates.

Ameritrade CDs Investing

Finding CD’s at TD Ameritrade

To locate the CD section on TD Ameritrade’s website, point your cursor to ‘Research & Ideas’ in the top menu and select ‘Bonds & CDs’ from the drop-down selection. The page that appears will give you lots of helpful information about fixed-income investments. Current yields on bonds are displayed, which can be used as benchmarks for evaluating certificates of deposit.

One area you’ll want to visit is the CD Center, which is accessible through the Bonds & CDs page. Here, you’ll be able to scroll through several yields and maturity dates. Each CD has its own row with the available quantity. A ‘Buy Now’ link will generate an order ticket.

Certificates of Deposit can also be found by using the bond wizard, available at Research & Ideas > Bonds & CDs > Bond & CD Wizard.



One example of a CD we found through the CD Center is a Bank of America time deposit yielding 2.55%. On the day of our investigation, there were 5,593 of them.

Clicking on a CD’s title generates a new page of more detailed information, including the CUSIP number. The maturity date of the CD is Jan 16, 2020. Because this is a certificate of deposit and not a bond, the asset is non-callable, and the coupon is paid at maturity. The minimum purchase amount is just one.

Placing a Trade

To submit a buy order for a CD, you can click on the ‘Buy Now’ link mentioned above or you can click on the CD’s name, which will produce the page of details. On this page, there is a calculator in case you want to purchase more than one CD. There is also a buy button when you’re ready to submit your order.

Open TD Ameritrade Account

Open TD Ameritrade Account