TD Ameritrade offers its client a fully functional web-based trading platform. However, it does not use a secure two-step login, and it is not customizable.
|TD Ameritrade platforms to choose from|
|Web||4 / 5 stars||Yes|
|Mobile||4 / 5 stars||Yes|
|Desktop||5 / 5 stars||Yes|
TD Ameritrade’s web-based trading platform is sufficient for trading and research on investment products like stocks and ETFs. However, if you desire a more sophisticated experience, TD Ameritrade’s desktop trading platform (ex Thinkorswim) will let you access technical research and trade with complex products.
The table below analyzes the main features and scope of the web trading platform and the Thinkorswim desktop platform.
|TD Ameritrade – web and desktop platform compare and contrast|
|Web trading platform||Thinkorswim|
|Stocks, ETFs, options||Yes||Yes|
|Mutual funds||Yes||Quotes only|
|Futures, options on futures, forex||No||Yes|
|Charting||Yes||Yes, more advanced|
|Research & third-party analysis||Yes||Yes, but limited|
The web-based trading platform is also available in the Chinese language in addition to its default English.
Look and Feel
TD Ameritrade’s web-based platform is straightforward and user-friendly. However, it is not customizable for the workspace.
Login and Security
TD Ameritrade lacks secure two-step login verification and authentication. It uses a less secure one-step login authentication. Logging in on a new device requires that you supply the answer to your security question. After successfully logging in the first time, subsequent logins on that same device can be done with the regular ID and password combo.
TD Ameritrade’s search functions are adequately efficient. You can do searches with the company’s name or the asset’s ticker. Search results are reasonably relevant to the typed in search terms.
TD Ameritrade offers the following order types:
- Trailing stop %
- Trailing stop $
If you need more information about the different order types, read this short review.
There are also a few options of order time limits you can use:
- Good ’til canceled (GTC)
- Good ’til canceled extended hours
- Day + extended hours
- Immediate or Cancel (IOC)
- Fill or Kill (FOK)
- All or Nothing (AON)
Alerts and Notifications
You can set your desired alerts and notifications by using the MarketWatch function on the Thinkorswim desktop trading platform. You can quickly get news alerts, pricing alerts, and other notifications directly on your mobile, as text, or as mail messages.
Portfolio and Fee Reports
TD Ameritrade has transparent fees and portfolio reports, and they can be found under the ‘Account information’ tab. The reports tab can be customized to accommodate commission reports, margin levels, profit/loss balance, and much more.
TD Ameritrade’s desktop platform, Thinkorswim, supports social trading. You can set up a public profile that lets you follow other traders and also share your trading results. This is an opportunity for season traders looking for new ideas, and for newbies looking for reliable advice to follow. With just a few clicks, you can complete a trade from the copied information.
TD Ameritrade Managed Portfolios.
TD Ameritrade offers three types of managed portfolio services for clients that prefer such. Those needing help with managing their investments can take advantage of any of the managed portfolio options available. They are:
1. Essential Portfolios
This is a Robo-advisory service. The Robo-advisor collects information about your investment goal, risk tolerance, and time. You can choose freely from the five ETF portfolios available, and the Robo-advisor will help to rebalance the portfolio when needed.
The minimum amount required to have a TD Ameritrade Essential Portfolio is $5,000.
2. Selective Portfolios
A TD Ameritrade Selective Portfolio gets you a more personalized experience with an expert. You need a minimum of $25,000 –to start a premium selective portfolio with TD Ameritrade.
3. Personalized Portfolios
TD Ameritrade offers its clients a professionally managed portfolio with all the bells and whistles attached. For just $250,000, you can get a personalized portfolio that allows you to relax while an expert handles your trades.