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Review of TD Ameritrade Futures Broker 2020 – Discover everything you need to know, start trading today

TD Ameritrade is a very well-established online trading brokerage with more than 40 years of experience in the financial trading industry as they were founded in 1975. The brokerage now serves more than 11 million clients and handles over $1 trillion in assets and facilitates more than 500,000 trades a day. Therefore, TD Ameritrade is a highly reliable and very reputable futures trading brokerage. TD Ameritrade is based out of Omaha, Nebraska and has 360 physical locations scattered across the States.

Highlights
  • Licensed and regulated by the Financial Industry Regulatory Authority (FINRA)
  • Zero minimum deposit, open a trading account with as little amount as you like.
  • Extensive array of tradeable assets across the global financial markets.
  • Excellent customer care and support as well as research and educational resources.
2.
of 7 Futures Broker
TD Ameritrade
TD Ameritrade experiences
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Risk warning: Capital can be lost. Terms and conditions apply.
Headquarters and regulation

Nebraska, USA (SIPC)

National fees

$2,25 per contract

International order fees

$2,25 per contract

Custody fee

$0

Services & additional benefits

ETFs
Futures

Mobile Trading & Apps

Demo account

Yes, unlimited

Premiums

Yes

Minimum deposit

$ 0

Services & additional benefits

Live
Hotline
E-mail

1. Trading Offer

1) Futures Broker Trading Offer: #1 For Long Term Investing

TD Ameritrade offers their clients an extensive array of tradeable assets across numerous global financial markets including Stocks, Options, ETFs, Mutual Funds, Futures, Forex, Managed Portfolios, Bonds and CDs, and Annuities. TD Ameritrade Futures trading is restricted to traders from countries other than the United States due to the regulatory jurisdictions of other nations.

Yes
Shares
Tradable
Yes
Futures
Tradable
No
Certificates
Tradable
Yes
ETF
Tradable

TD Ameritrade offers their traders favourable trading conditions as well as competitive spreads and commissions. Traders benefit from a flat rate commission of just $6.95 on all equity and options trades, can trade futures for just $2.25 per contract, and have access to over 300 commission free ETFs as well as $6.95 commission ETFs.

TD Ameritrade does an excellent job at accommodating traders of all types and experience levels as well as to help them achieve their individual goals. No matter what your goals or strategy is, TD Ameritrade has an online brokerage account for you. Traders can choose from a Standard, Retirement, Education, Specialty, Managed Portfolio, or Margin Trading account.

Trader Rating
5/5
TD Ameritradereview_summary_group_1_image
  • Traders can choose from a wide selection of trading accounts that suit their needs.
  • TD Ameritrade features an extensive list of tradeable assets across the global markets.
  • Traders benefit from favourable trading conditions as well as competitive commissions and fees.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
2. Costs

2) Futures Trading Cost: No Hidden Fees

During our review of TD Ameritrade, we discovered that the fees and commissions imposed on traders can sometimes be higher than much of the competition. However, this is only the case for tradeable assets other than TD Ameritrade futures trading. When trading futures at TD Ameritrade, the pricing is fair and transparent with no hidden fees. For instance, traders can trade over 60 futures products for only $2.25 fee per contract plus an exchange and regulatory fee. Generally, the exchange and regulatory fee is very low, averaging at $0.01 per contract.

3
National
Trading venues
0
International
Trading venues

Therefore, the cost of trading futures at TD Ameritrade is really quite low. However, traders are subject to paying additional fees that are not associated with trading futures. For instance, withdrawing funds from your brokerage account via Bank Wire Transfer comes with a fee of $25. Another fee a trader may incur is a monthly subscription fee of $110 for monthly updates of ICE Futures US. As well, traders can subscribe to premium news publications costing anywhere from $10 – $20 per month. However, keep in mind that all of the subscription fees mentioned here are optional for traders.

Trader Rating
5/5
TD Ameritradereview_summary_group_2_image
  • Low futures contract fee of just $2.25 per contract.
  • Very transparent fee structure with no hidden fees.
  • Paid monthly subscriptions of market data and news is available for TD Ameritrade futures traders.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
3. Account

3) Accounts: An Account for Every Trader

Whatever your goals or trading strategy may be, TD Ameritrade has a trading account to suit your needs so that you can pursue your financial goals and become a successful trader or investor. See below, the different account types available at TD Ameritrade.

Standard

Standard trading accounts offer traders choice and flexibility. Traders have 6 different standard accounts to choose from being; Individual, Joint Tenants with Rights of Survivorship (JTWROS), Tenants in Common, Community Property, Tenants by the Entireties, and Guardianship or Conservatorship.

Retirement

Retirement accounts have numerous tax benefits and other features. The available retirement accounts include; Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Solo 401k, SIMPLE IRA, and Pension or Profit Plan.

Education

Traders can plan for a better future with 4 different types of education accounts.

Specialty

Specialty accounts offer traders a wide variety of features to help them succeed and make planning for the future easy.

Managed Portfolio

These types of accounts save you time and allow you to stay invested for the long-term with professionally managed portfolios.

Margin Trading

Margin Trading accounts present are designed to take trading to the next level by increasing your securities buying power by up to 50% by borrowing money from TD Ameritrade.

Trader Rating
5/5
TD Ameritradereview_summary_group_3_image
  • Traders have an extensive array of account types to choose from.
  • Many of the trading accounts available have no initial deposit requirement.
  • An account for every type and experience level of trader.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
4. Platform

4) Trading Platform: The Most Advanced Futures Trading Platform

Our review of TD Ameritrade trading platform is for the highly sophisticated thinkorswim trading platform. This advanced trading platform is an elite level platform for futures traders and is used for the trading of futures, equities, options, ETFs and forex. The thinkorswim platform features a new economic data tool that taps into over 400,000 economic data points so that traders can find key economic indicators fast and chart better. As well, traders have access to over 400 technical studies ranging from support and resistance to candlestick and profile. Adding these to the charts along with 20 drawing and analysis tools makes thinkorswim’s charting package unparalleled to others.

IOS
Android

Apart from the advanced charting capabilities, traders can set rules to automatically trigger orders to mitigate risk and optimize profits. As well, traders can create custom alerts with a powerful array of parameters so that you never miss a trading opportunity. The platform also features a social trading aspect with chat rooms and a gauge for social sentiment based off of social media and other traders. Furthermore, the thinkorswim platform syncs between all of your devices so you can trade from anywhere in the world and while on the go.

Trader Rating
5/5
TD Ameritradereview_summary_group_4_image
  • Highly advanced trading platform with sophisticated charting capabilities and economic data analysis.
  • Compatible across all devices with live sync capability.
  • Access to over 400,000 economic data points, 400+ technical indicators and 20 drawing and analysis tools.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
5. Usability

5) Usability of the Website: Intuitively and Beautifully Designed

During our TD Ameritrade brokerage review, we extensively analysed the brokers website and can say with certainty that it is very well designed. The website incorporates only one colour into their design, green. The rest of the website has a white background and black text making it very easy on the eyes. The website is not cluttered but very well organized, making it extremely easy to navigate and find what you are looking for. The website utilizes two main header menus at the top of the page as well as a search bar for quick searches.

The website goes into great detail about all of their offered investment products, trading accounts, trading conditions, fees and commissions, trading platforms and more. In fact, many aspects of the brokerage have their own page dedicated to explaining everything that goes with it. Also, the TD Ameritrade website features an extensive list of links at the bottom of the website for easy navigation.

Trader Rating
5/5
TD Ameritradereview_summary_group_5_image
  • Beautifully designed and very easy to use and understand.
  • Well organized with detailed information about everything the broker has to offer.
  • Available for viewing in 4 different languages and contains legal and business information.
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Risk warning: Capital can be lost. Terms and conditions apply.
6. Support

6) Customer Support: 360+ Branches Nation Wide

Is TD Ameritrade good with their level of customer care and support? No, TD Ameritrade is phenomenal. Not only can customers reach out to support representatives 24 hours a day, 7 days a week through email, telephone, live chat, fax, and mail, they can visit any one of 360+ physical branch locations across the nation. TD Ameritrade support representatives are always quick to respond and very friendly and informative with the information they provide. With multiple support methods available, customers are never left hanging and can reach support instantly or at least receive detailed responses within 24 hours.

E-Mail
Telephone
Live-Chat
On the spot

In addition to contacting support representatives, customers can often help themselves by browsing TD Ameritrade’s extensive FAQ page or various pages on the website in general. Also, customers can also get schedule free consultations with a financial advisor so that they can better decide which investment services offered by TD Ameritrade are best for them. All in all, TD Ameritrade’s level of customer support is of excellent quality.

Trader Rating
5/5
TD Ameritradereview_summary_group_6_image
  • Contacts support representatives via email, telephone, live chat, fax, mail, or in person at one of their 360+ physical branches.
  • Friendly and professional support with professional financial advisors available.
  • Support is available 24/7.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
7. Payment

7) Methods of Payment: A Payment Method for You

Traders have a variety of methods to deposit and withdrawal funds to and from their TD Ameritrade brokerage account. The same methods used to deposit funds can be used to withdraw them and all methods are free of charge on TD Ameritrade’s end. See below, an overview of the available payment methods.

Electronic Bank Deposit (ACH)

ACH payments are generally completed within 30 mins – 3 business days and the transfer limits are $50 – $250,000 per day. ACH payments are the most popular payment method used and can be done easily online.

Bank Wire Transfer

Wire transfers are generally completed within 1 business day and have no transfer limits. Traders can contact their bank to facilitate a bank transfer.

Check

Payments by check are completed within 1 – 3 business days and have no transfer limits. Traders can deposit checks into their trading account by using their phone to take a picture of the check. Check deposits via mobile have a $10,000 limit.

  • banktransfer

Overall, the variety of payment methods at TD Ameritrade is quite limited in comparison with other futures brokers. To see what payment methods are commonly supported among other best futures brokers, check out our futures brokers comparison page.

Trader Rating
5/5
TD Ameritradereview_summary_group_7_image
  • Bank Wire deposits and withdrawals.
  • Check deposits and withdrawals.
  • Electronic Funds Transfer (ACH) deposits and withdrawals.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
8. Offers

8) Additional Offers: Comprehensive Educational Resources

During our review of TD Ameritrade, we discovered that they provide traders with an extensive education centre that’s complete with a wide array of comprehensive educational resources and content. For instance, TD Ameritrade offers traders an immersive curriculum with numerous intuitive and easy to follow courses that were designed by industry professionals. These courses come complete with quizzes and final exams to test what the trader has learned, and traders can take them in any which order they please and at any time.

Demo Account
Premiums / Promotions
Training

In addition to the educational courses, TD Ameritrade offers a wide array of articles and videos, webcasts, in-person events to attend, resources for planning for retirement or college, and more. Also, traders have access to a wide array of information regarding taxes and different account types and investment products. Therefore, traders can become an expert at TD Ameritrade futures trading with all of the free educational resources provided to them.

TD Ameritrade might just be the best futures broker available in regard to the extent of educational material available to traders. You can compare TD Ameritrade’s educational material with other brokers at our comprehensive futures broker comparison page.

Trader Rating
3/5
TD Ameritradereview_summary_group_8_image
  • Comprehensive educational courses available, complete with quizzes and tests.
  • Traders have access to training videos, articles, webcasts, in-person events, and more.
  • Educational content is designed by industry professionals.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
9. Regulation

9) Regulation & Deposit Protection: Highly Regulated

TD Ameritrade is licensed and regulated in the United States by the Financial Industry Regulatory Authority (FINRA). This regulatory agency is highly reputable and imposes very strict rules and guidelines for TD Ameritrade to follow. FINRA regulation is not easy to acquire and only the best and most reliable trading brokers become regulated by them. The FINRA regulation requires brokers regulated by them to employ the latest and greatest security measures and technology. For instance, TD Ameritrade implements bank grade security measures to protect client funds during the deposit and withdrawal process. As well, the trading platform is highly secure and implements advanced SSL (secure socket layer) encryption technology on all transmitted data to protect sensitive information and client funds.

SIPC
Regulatory Authority
$500,000
Dep. Protection

Furthermore, in addition to the FINRA regulation, TD Ameritrade is a member of the Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC). These memberships ensure the protection of client funds in the event of broker insolvency or loss of funds due to fraudulent practices.

Trader Rating
5/5
TD Ameritradereview_summary_group_9_image
  • Licenced and regulated by the Financial Industry Regulatory Authority (FINRA).
  • Member of the Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC).
  • Highly regulated broker that employs the best security measures and latest security technology.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
10. Awards

10) Awards: Awarded Best Broker Year After Year

While conducting our review of TD Ameritrade, it quickly became evident that the broker was highly respected in the online trading industry as the TD Ameritrade has over 40 years of experience and has won numerous awards. The brokerage has won awards for all areas of their investment services throughout the years by multiple publications.

The most recent and notable awards include the “#1 Overall Broker” award by Kiplinger in 2018. This award took everything the broker has to offer into consideration, rating almost all aspects at 5 stars. Another notable award is by Barron’s, who for 6 years in a row awarded TD Ameritrade the “#1 For Long-Term Investing” award. Other awards Barron’s presented to TD Ameritrade include; “#1 For Novices” that’s been awarded 7 years in a row and “#1 For Usability” which was awarded to them 3 years in a row.

More recent awards come from StockBrokers.com who awarded TD Ameritrade with the “5 Stars Overall” award which takes all aspects of the broker into account. Another award is from Investor’s Business Daily, who named TD Ameritrade a “Top Online Broker” based off of customer experience scores.

Trader Rating
5/5
TD Ameritradereview_summary_group_10_image
  • Highly reputable and recognized online trading broker with over 40 years of experience.
  • Multiple awards for all aspects of their services.
  • Awarded multiple “#1 Broker” awards year after year by notable publications.
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

Conclusion: A Reliable Futures Trading Brokerage

Our TD Ameritrade brokerage review has proven that this broker is highly reputable and can be trusted to provide fair, secure, and reliable online trading services. Traders have access to a wide array of tradeable products and the most sophisticated trading tools and features. The advanced thinkorswim trading platform is perfect for futures trading and is highly awarded across numerous publications. As well, not only does TD Ameritrade provide traders with a sophisticated trading platform and array of tradeable products, they offer exceptional trading conditions too. Traders benefit from competitive commissions and fees and a wide array of account types to suite their trading needs.

Also, traders can benefit from TD Ameritrade’s comprehensive education centre and phenomenal customer support to help them select the right trading plan for them. All in all, TD Ameritrade is an exceptional online trading brokerage that accommodates the needs of all types and experience levels of traders.

Strengths

  • Multiple great platforms
  • Great educational tools
  • Top customer service
  • Five deposit options

Weaknesses

  • Short-term trading fees for commission-free ETFs
  • Higher commissions
Test result
Total
96%
Ratings
36
Broker
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
TD Ameritrade
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

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