TD Ameritrade Account Opening | How to Open TD Ameritrade Account

Pros

Cons

  • Fast
  • Fully digital
  • Many account types
  • Mutual funds profiles

Limited account trading options for clients outside the US.

Introduction

TD Ameritrade is one of the oldest online brokers in the US since 1975 with a long tracking record of +45 years and over 175 branches nationwide. It’s considered one of the safest brokers as it’s regulated by top-tier regulators like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Countries Available

TD Ameritrade is available in a lot of countries, except, but not limited to Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

Account Types

TD Ameritrade does provide a plenty of account types with different features and capabilities.

  • Standard Accounts

These are the most common account types between clients that have flexibility and access to comprehensive investment products, objective research, and have the following account options

(Individuals, Joint Tenants, Tenants in common, community property, Tenants by the Entireties, and Guardianship)

  • Retirement Accounts

These types of accounts were designed to help you reach your retirement goals faster and meet your income and lifestyle needs. There are a number of types in this category which are

(Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Solo 401k, Simple IRA, and Profit Plan)

  • Education Accounts

This category has a number of account types that help you save for education, at any level, choose from various state-qualified 529 Plans, tax-free Coverdell, or UGMA/UTMA accounts.

It has a number of types like:

(529 Plans, Coverdell Education Savings Account, and UGMA/ UTMA)

  • Speciality Accounts

Specialty accounts make planning for the future easy. The following account types are available in this category:

(Trust, Partnership, Limited Partnership, Investment Club, Limited Liability, Sole Proprietorship, Corporate, Non-incorporated, and Small Business Plans)

  • Managed Portfolios

You can save your time and effort by subscribing to one of the managed portfolios plans that helps you trade with the minimum effort. This category includes the following types:

(Selective and Personalized)

 

  • Margin Trading

These types of accounts allow you to borrow money from TD Ameritrade and potentially increase your securities buying power by as much as 50%.

TD Ameritrade also provides a demo account with 0 fees if you want to experience the trading platform with no risk.

Notes:

  • In addition to the previous types, there’s mutual funds profiles that follow islamic rules for those who live in amuslim country.
  • TD Ameritrade also provides a demo account with 0 fees if you want to experience the trading platform with no risk.
  • There’s an option to join the TD Ameritrade affiliate partner program if you want as well.

Min Deposit

The min deposit for the TD Ameritrade account is $0.

How to Open Account

The process of opening an account is pretty simple. We will guide you through little steps to register and start using TD Ameritrade.

You can open an TD Ameritrade account in minutes through these steps:

  1. Choose the account type you want to open.
  2. Add your personal information, SSN, residency, and employment status.
  3. Review your submitted information.
  4. Check the terms and conditions section and accept them.
  5. Confirm your application.

Notes:

  • Due also to the requirements of the regulatory bodies that supervise <<brokerName>>, it is necessary that in order to operate with your account you send them a proof that proves your identity and another proof that proves your current address :
  • Identity document : You must send a copy of your ID, your passport or driving license . It has to be an official document that clearly shows your identity and that it is valid (the document you send cannot be expired). You can scan any of these documents and send it in PDF, JPG, GIF, or take a photo with your mobile if it is more comfortable for you. In any case, the image must have good quality and be completely readable, otherwise it may give you problems to verify it.
  • Proof of address : This is to send a document that shows your current address . You will have to send a recent utility bill (not exceeding 3 months) for electricity, water, gas, landline or Internet (many brokers do not accept, for example, mobile phone bills). You can scan and send it in PDF, JPG, GIF, or take a photo with your mobile. Like the previous document, all the data must be legible and have sufficient quality.

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 to 3 days to verify your TD Ameritrade account.
  1. Is my TD Ameritrade account protected?
  • Yes, If you lose cash or securities from your account due to unauthorized activity, TD Ameritrade will reimburse you for the cash or shares of securities you lost.
  1. Can I open more than one trading account?
  • Yes, you can, but some account types may be restricted from linking between devices.
  1. Does TD Ameritrade allow bot trading?
  • Yes, TD Ameritrade does provide an Autotrade option which is a service that automatically enters trade recommendations you receive from TradeWise and other third-party newsletter providers into your TD Ameritrade account.
  1. Does TD Ameritrade give a bonus?
  • Yes, TD Ameritrade does give a bonus up to $2,500 if you meet the following conditions:
  1. You make a deposit of $250,000 or higher.
  2. The deposit should be made within 60 calendar days from account opening.
  3. Before June 30, 2021.
  4. Can I trade margin or option?
  • Yes. As you’re completing the Account Application, simply complete the margin and/or options section.
  1. Does TD Ameritrade allow scalping?
  • Yes, TD Ameritrade offers scalpers three trading platforms: web browser, thinkorswim, and mobile.
  1. Is my money safe at TD Ameritrade?
  • Yes, because of the following reasons:
  1. The cash in your account can be held in a TD Ameritrade FDIC Insured Deposit Account (IDA).
  2. Balances in an IDA are held at one or more banks (“Program Banks”), where they are insured by the FDIC against bank failure for up to $250,000 per depositor, per bank.
  3. Two of the Program Banks are TD Bank, N.A. and TD Bank USA, N.A., both are affiliates of TD Ameritrade. Each bank will have separate FDIC coverage of up to $250,000 per depositor for up to $500,000 total per IDA depositor.
  4. Does TD Ameritrade have an islamic account option?
  • Unfortunately, TD Ameritrade does not provide such an option on its platforms.
  1. Can I login to the same account through different devices?
  • Yes, TD Ameritrade allows login to the same account from different devices.
  1. Does TD Ameritrade accept payments from third parties?
  • No, as all deposits into your trading account must come from a bank account in your name.


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