TD Ameritrade

time icon 6 min read update icon Sept. 20, 2019
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TD Ameritrade is a brokerage firm that provides online electronic trading. Services include common stocks, preferred stocks, exchange-traded funds, financial securities, mutual funds, future contracts, options, margin lending, cash management, and fixed income investments. 

TD Ameritrade is based in Omaha, Nebraska. The company has been offering a variety of financial services for 40 years. The company pioneered many things in the industry, such as touch-tone trading, online options order entry, electronic trade confirmations via email, first trade execution guarantee of 10 seconds, paperless accounts, and online trading. Today, the company serves seven million self-directed traders and investors. Its platforms offer research, trade stocks, forex, mutual funds, bonds, futures, ETFs and fixed-income securities. 

Even after retirement, investing in the future is advisable. The typical person retires at 65. Over the last 20 years, lifespans have been increasing dramatically. It is not uncommon for someone to live well into their 90s, or even to make it to the century mark. This means that the average person will require a retirement savings fund that will last them for 30 plus years. Investing wisely can be the key to increasing retirement funds. TD Ameritrade lets a senior take control of their financial future.

Grandfolk Scoring
Robo-advisor 10/10
Cost 7/10
Ease 10/10
Cancellation 9/10
Customer service 10/10
Initial deposit requirement 10/10
Securities traded 9/10
Regulatory memberships 10/10
Financial strength 10/10
Is a robo-advisor service available?
Is a deposit required?
$6.95 per stock trade
Is the service easy to use?
Yes; only one sign in is required for access
Can I cancel the service?
Yes, a $75 out-transfer fee
Customer service
How do I reach customer service?
Online chat, phone, messaging, text or email 24/7, plus local branches
Initial deposit requirement
How much must I invest?
Securities traded
What trading options are available?
Equities, ETFs, Fixed Income, Forex, Futures, Mutual Funds, Options, Foreign Stocks (through U.S.-based market makers)
Regulatory memberships
Does the company belong to FINRA and SIPC?
Financial strength
Is the company financially strong?
Yes; client assets top $773.8 billion
Age Score:
50-64 Years
65-74 Years
75-84 Years

The cost of living continues to rise at a rapid rate with each passing year. Many seniors may not foresee exactly the amount of funds they will require to remain solvent into their nineties. Investing after retirement is an ideal way to make sure that your savings account continues to grow. TD Ameritrade is a great way for a senior to grow their money. 

Many seniors are not prepared for the experience of online trading, but with TD Ameritrade’s superb customer service, they can quickly learn the ins and outs of the service. The customer support team can help you quickly grasp the easy platforms of TD Ameritrade’s site and rapidly learn to trade in the modern internet era.

Health Score:
Great Health
Good Health
Fair Health
Poor Health

With each passing year, a senior typically faces mounting healthcare costs. A trip to the emergency room often costs thousands of dollars. Preparing for such unforeseen medical expenses with sound investments provides a senior with the peace of mind of knowing that they have the liquid funds available to pay for their healthcare expenses. 

During a senior’s golden years, the future remains uncertain, but declining health is a reality for many. Poor health leads to expensive medical bills, so establishing a prospering savings program can help out greatly.


  • All platforms are synced: desktop, mobile, website and web-based
  • Investment guidance with robo-advisors 
  • Hundreds of commission-free products
  • 24/7 customer support available by phone,  messaging, text, email and in-person at 100+ branches available throughout the U.S. 
  • The online research is extensive


  • Above average commissions, with the standard trade being $9.99 
  • Expensive broker-assisted trades that typically cost $44.99 
  • ETF short-term trades must be held for 30 days or a $19.99 short-term trading fee will be levied
  • Security is not up to par compared to other sites. The site does not feature two-factor authentication or any other modern security features that can be found with other similar companies

Bottom Line:

TD Ameritrade has been around for forty years. It has been one of the biggest innovators in the industry. The company offers 24/7 customer support, ample research, real-time, site-wide streaming quotes, and very advanced trade platforms. Seniors can expect to pay about $6.95 per trade, with options costing $6.95, plus $0.75 per contract. 

Seniors can trade and invest however they want with TD Ameritrade. Explore equities, options, mutual funds, forex trading bonds and CDs to create a diverse portfolio. TD Ameritrade’s website offers a wide array of educational resources, which include videos to help seniors make smart investing decisions. Independent third parties such as Morningstar, CFRA, and TheStreet provide valuable resources. There are also streaming news and quotes available.

Frequently Asked Questions:

How do I pay for my policy? 

TD Ameritrade does not require a minimum deposit. In order to gain access to margins or margin trading, you will be required to place a minimum of $2,000 into an account. 

Can I change my plan?

TD Ameritrade offers many financial options that can be changed. You can contact customer service via online chat, phone, or email 24/7 to discuss and make changes.

Can I cancel my plan?

Yes, and there are no cancellation fees 

More Information:

Note: TD Ameritrade is a stable company. It does have above average margin rates, above average commissions and expensive broker-assisted trades. 


Each year, TD Ameritrade continues to grow. The company has6.9 million funded customer accounts. Its client assets top $773.8 billion. TD Ameritrade averages 462,918 client transactions every day. Throughout the US, the company has over 100 branches where clients can receive personalized assistance. 

Package Details: Seniors will pay $6.95 per trade, with options costing $6.95 plus $0.75 per contract. 

Individual Plans:  Individuals can open individual accounts

Family Plans: Group accounts can be opened with a spouse, child or other relative. 

TD Ameritrade App: TD Ameritrade offers a mobile app that allows users to trade on-the-go. The app can also be optimized for an Apple Watch or tablet. 

Discounts: TD Ameritrade is always offering discounts for new customers to encourage them to try its services. 

Add-On Services: All services are available to account holders. 

Additional Company Details: 

At TD Ameritrade, seniors can use the online brokerage firm’s trading platforms to research and trade stocks. They will also have complete access to bonds, forex, ETFs, futures, options, mutual funds and other fixed-income securities

Payment Policies: Transactions can be made online, via the mobile app or over the phone with electronic funds transfers.

Cancellation:  No cancellation fee. 

Warranty: TD Ameritrade offers no warranty. The company is not responsible for any losses.

Accreditation: TD Ameritrade is not an accredited member of the Better Business Bureau (BBB). 


In 1975, Joe Ricketts and three partners offered discounted brokerage commissions to investors. By 1983, Ameritrade Clearing, Inc. was formed for broker-dealers and investment advisors. In 1988, the company became the first to offer trades via an automated phone system. As the decade passed, Ameritrade joined the internet movement and by 1998, the company was offering trades via a mobile device. 

In 2004, the company focused on its website and went on to launch its investment advisor website online. In another decade, it unveiled its web streaming platform for its clients. Today, the company continues to grow by leaps and bounds to serve the needs of its many clients. 


TD Ameritrade
200 South 108th Avenue
Omaha, Nebraska 68154
Tel: (800) 669-3900

Kimberly Sharpe - Senior Advisor

Kimberly is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.