TD Ameritrade fees explained - Brokerchooser

TD Ameritrade vs Interactive Broker

Hi guys I just recently started investing and have been using IB for awhile now. However, I am currently finding the monthly 10USD to be a bit of a roadblock. I have read multiple comparison for the different brokers for Singapore and still have a couple of questions.
Can anyone enlighten me what the process of account funding is like for TDA? Do we transfer SGD into the account and then convert to USD and be subjected to foreign exchange fee? What is the forex spread like? Do we have the option of transferring USD directly? In the case that we have to withdraw our money, do we reverse the process by converting back to SGD?
For those that are currently with TD Ameritrade already, what do you like about the broker in general? Should I shift from IB to TDA?
Thank you!
EDIT: Sorry I think I wasn’t very clear previously. I have been using IB for a while now so I understand all the processes for IB. What I am curious about is the process for TDA if anyone can enlighten me thank you!
submitted by marcusokh to singaporefi [link] [comments]

Low/Zero commission online broker comparison

I was trying to find the lowest cost brokers that aren’t just mobile apps that offer passive investments in the assets I’m looking for on top of the usual equity and bonds I already have.
I’m hoping this will help people in my situation. I looked for a comparison website and found: https://brokerchooser.com/ which helped but I still had to dig around to get the direct comparison I needed all in one easily visible table.
What are your thoughts and experiences on the below brokers like customer service etc with these platforms?
Trading212 looks to be the cheapest and best all round but I’ve read bad experiences.
To diversify my portfolio I’m looking at:
  1. Renewables funds,
  2. Commodities,
  3. Individual shares and Crypto (a very small gamble 1% of total)
  4. Property dev/REITs,
  5. Venture capital,
  6. Higher risk corporate Bonds,
1 - 4 Can be invested in via ETF’s offered by most of the online brokers below.
4 - 5 Can be invested in using the other platforms below: Crowdcube, Seedrs, Syndicate room, Crowdproperty.
1 and 6 I think need higher cost traditional brokers like HL/Black rock etc but I’m not sure.
Here’s my comparison:
Free trades per month Products Fees (deposit etc) FCA Regulated? Bank transfer or debit card?
Trading 212 Unlimited Stocks ETF/ETCs Forex Crypto ISA Free ISA, no trade fees, CFD account has charges inc: 0.5% currency conversion charge, no forex fees Yes Debit card: Yes - Bank transfer: Yes
TD Ameritrade Unlimited $0 for US stock $6.95 for non-US Cannot find on FCA register Cannot find on FCA register
eToro Unlimited Stocks ETF/ETCs Forex Crypto Commodities via CFD’s No ISA - $5 withdrawal fee - Deposit and withdrawal fee of 0.5% - exchange fee (50 pips) 0.5cent/$1 e.g $7.5 on $500 - If no activity for 12 months charged $10 per month - 0.75% fee to buy bitcoin Yes Debit card: Yes - Bank transfer: No
Freetrade Unlimited Mobile app only Stocks ETFs ISA ISA £3/month 0.90% forex fee Yes Debit card: No - Bank transfer: Yes
Revolut 3 Mobile app only Stocks Crypto Commodities No ISA Complex fee structure Yes Debit card: Yes - Bank transfer: Yes
Degiro Unlimited Stocks ETF Funds Bonds Options Futures Crypto No ISA High fees (complex structure) Yes Debit card: No - Bank transfer: Yes
Other investment platforms:

Investment type Fees (deposit etc) FCA Regulated? Pre-emption rights?
Crowd cube Venture capital 1.5% Yes No
Syndicate Room Venture capital High fees 2% set up fee 1.5% – 2.3% annual 20% performance fee Life-time management fees of between 12.5% and 24.3% Yes Yes
Seedrs Venture capital 7.5% of any profit Plus variable sale fees Yes Yes
Crowd property Property 0% fees however returns capped at 8%. Yes N/A

Have you used any of these before or do you have alternatives?

submitted by Final_Cause to UKPersonalFinance [link] [comments]

eToro vs Other Brokers

I've been doing some research on brokers for trading US stocks, and eToro seems like a great option - no commissions, standard forex conversion fees for cashing in, $5 fee for withdrawals.
However I noticed that more people in this sub recommend TD Ameritrade and IBKR who charge higher overall fees.
Is eToro not as good as how it is advertised (i.e., hidden fees)? Or are other brokers just more superior?
submitted by M0ney_M0ney to phinvest [link] [comments]

Stake vs Hatch Fees Explained

--UPDATE--
In light of Christine from Hatch's announcement of a reduction to a flat $3 broker fee, I've updated in a new comment here.
Treat the direct comparison of $ below as incorrect (once Hatch update their pricing).
--Old Text--
I decided to undertake a fees comparison of the two platforms as Stake is launching on Tuesday.
Comparing Hatch and Stake, the long and short of it is:
Most people will do the latter and be DCA in to a lot of smaller companies so Stake will end up being a lot cheaper on the buy-in.
https://imgur.com/a/wkuiIl1
Comparing to US based companies, assuming you use Transferwise to deposit into a US bank account and there is no fee to transfer from the US account to their service, Transferwise appear to get a 0.6% better FOREX rate than Hatch did when I just checked - Transferwise was $0.6067 vs Hatch $0.6029 (I'm assuming the Hatch FOREX rate will be similar to Stake, can't check atm as I don't have a Stake account until Tuesday). So the break-even point for using Transferwise at current FOREX rates is about $250 (below Stake is better, above Transferwise is better), excluding IBKTD Ameritrade fees (TDA have no broker fees currently). Hatch will allow USD transfer but only if you email them so I don't think you can use this as your regular deposit strategy.
One thing to consider with IBKTD Amertrade is they are US companies who are not at all interested in your NZ tax requirements so will not help you at all in the process. Customer support will be harder to get, and using Transferwise is not a trivial process especially if you are doing very regular deposits it can become a PITA for a relatively tiny difference in fees (eg if you deposit $500/fortnight the difference in FX fees is about $3 per transaction, so just don't buy that bag of chips and save yourself the hassle of using Transferwise + foreign based company IMO - and this is coming from someone who even changes power and ISP companies every year chasing better deals!).
Once you want to withdraw money, Hatch is obviously cheaper at 0.5% (edit: despite the $8 withdrawal fee) compared to 1% with Stake (and they have a $2 withdrawl fee that will be pretty negligible if you have a lot of money invested). Hatch will do an off-market transfer of US shares so best strategy might be using Stake for deposits and Hatch for withdrawals.
Another benefit to Hatch is that they are Kiwi owned so I think more likely to be accessible in terms of Tax and customer support than an Aussie based company (Stake). Lastly with Hatch, if a company is less than $400/share then you should buy a series of Fractional share bids unless you are buying more than 2.66 share units, above that the $8 broker fee is better.
Edit: I had a user complaining about the withdrawal fee of $8 through Hatch. This is true if you are regularly buying and selling shares. Typical advice given here is directed to buy and hold strategies (so you only get stung once for a withdrawal after X number of years), if you want day trading advice there are other subs for that. See my comment here.
submitted by kinnadian to PersonalFinanceNZ [link] [comments]

US Traders- Anyone tried Thinkorswim by TD Ameritrade?

I'm currently using OandA for my demo account, didn't like Forex.com much at all, and just had the thought of checking out Thinkorswim by TD Ameritrade.

I couldn't find much info on their website about forex, so I called and asked them questions. Here's what I found out:
I forgot to ask about minimum lot size, but I can call back and get that info.

Has anyone traded forex with them? How'd it go?

submitted by rm-rf_iniquity to Forex [link] [comments]

REST vs FIX api?

Are there any retail brokers out there that provide a FIX API, specifically for Forex trading? TD Ameritrade looks like it only offers a REST API. I know LMAX does, but their capital requirements and fees may be a bit too high for me. Does anyone know if there is a huge difference between them if I am just starting out (I know this is probably strategy dependent)? Is it worth it to try and use FIX or should I just start out with IB/TD?
(I also understand that a good amount of crypto exchanges offer a FIX API, but I am specifically asking for Forex trading)
submitted by grinningarmadillo to algotrading [link] [comments]

Why I moved on from Robinhood to a proper broker (and am not looking back)

Hello fellow autists. It has now been around two weeks where I've moved on from Robinhood and am now using a proper broker (TD Ameritrade, using their "Think or Swim" mobile app / desktop app). I had been using Robinhood for about 1.5 years, but didn't realize the vast amounts of benefits you get at a proper broker (described below). I wish someone had told me about all this when I first started trading, so now I'm passing on this knowledge to youuuuuu. Perhaps other brokers have most if not all of these benefits, but I don't got experience with them.
Combine having “unlimited” day trades with seeing proper indicators on a chart . . . and you can do my new day trading strategy of buying a few options when you see a setup occur (such as a stock going below the low of the day, or buying after it breaks the 200d ma). Then when the price hits a resistance point (such as the pre market highs), you can sell 50-75% of the contracts and lock in profits. Then you can add to your positions on pullbacks or just let the rest ride.
You can also link all of your accounts... And then trade with them all at once. So in a few clicks I can take a single trade that gets executed on my day trading account, my Roth IRA, and my traditional IRA
Just download “Think or swim” and try out the “paper trading” at least, it's all free. You can also open a regular account and just do all of your chart viewing and option browsing, then go into RH if you want to buy in there. PM me if you have any questions :D
submitted by Vehn2 to wallstreetbets [link] [comments]

Best API for placing trades at a relatively high frequency?

I'm finishing up testing on a ANN conglomerate of other indicators, and the only thing left is to actually make the trades. I make a trade about every 5 minutes. I was going to use TD Ameritrade's API, because I use their symbol data, but they're goring me to death on the trade fees ($7 a trade!). What do you guys use for placing trades? To be clear I'm only placing orders on stocks in the S&P 500, so I don't need stuff like crypto or forex.
submitted by Falcondance to algotrading [link] [comments]

What's the best way to invest small amounts of cash?

I've been using TD Ameritrade to buy stocks, but the trade fees make it impossible to buy and sell small amounts. I'm looking to spend maybe $100-$200 per month. I know there are other ways like forex, bonds, etc, but I know nothing about them. I would like something like stocks that I can buy and sell throughout the day. I had a bad experience with crypto, so I'd like to stay away from that. Binary options seem like a huge scam. Do you guys have any recommendations ?
submitted by Mighty_Mac to CasualConversation [link] [comments]

Trading platforms

Hi all. Kind of new to forex and was wondering which platforms are best for trading forex? I have seen people mention TradingView, but can I trade forex on TD ameritrade? Or Schwab? Or E-Trade? Are any platforms more tailored towards forex? How about fees for trading or other restrictions?
I currently have accounts all over the place (fidelity, td, Schwab) so I am just curious if I should continue with those or use a different platform.
I am located in the US and looking to start with maybe $100 or so.
Pros and Cons of your favorite ones would be very helpful, please, and thank you.
submitted by smokey132 to Forex [link] [comments]

Some perspective on trading software glitches/failures.

NYSEFailure AlgorithmFailure BloombergFailure DeutschebankFailure TDAmeritradeFailure ETradeFailure
Unfortunately, it happens. I have executed thousands of free trades with Robinhood (iOS and Android) over the past 8 months, and have had zero problems until the last couple weeks. I have been day-trading leveraged ETF's on RH Instant for the past month and I did get stuck in a trade with the first glitch about ten days ago. The amount of money I lost before I could close my position was about what it would cost me to make a dozen trades on another brokerage platform. I'm not here to blindly defend RH and I fully expect them to get their act together to protect their customers. For right now, why would I switch to a pay-per-trade brokerage when the possibility for downtime and software failures is also a historical possibility?
The amount I've saved in brokerage and trade fees is enormous by comparison, but I'm hoping that stability and web/desktop trading will help establish RH as a long-term solution for day-trading. Maybe even linking with eSignal? That would be nice.
TLDR; Expensive trading platforms fail/glitch too. Big time.
submitted by slvrsrfrm to RobinHood [link] [comments]

Daytrading as US Citizen living abroad?

Hi, I'm a US Citizen living in Germany permanently since I'm 4 years old. I developed an interest for trading in the financial markets since I was 16. My problem back then was no money and the age. I successfully traded with demo accounts and developed my own strategy mainly in Forex.
Now I'm 19 and have a job beside studying.
I thought I might invest my money instead of buying a car which I don't necessarily need because of good public transportation here. My problem is that NO German banks or brokers allow me to trade because I'm a US citizen. Even Brokers sitting in foreign countries want me to sign and assure that I'm not a US citizen. I figured this is because of the IRS (evil FACTA).
Now I can't find any decent broker to trade with. I thought about using American brokers like TD Ameritrade where I wouldn't find any conflicts with my situation.
Do I have to file to the IRS if I make little gains? I'm talking about a very insignificant amount of money since I want to start small first. Maybe $1000 gains in a year with my first real account. If everything works out great I plan on investing my savings and maybe someday make a living or at least let the money working while I'm employed in a decent job.
I also figured that short-term capital gains tax would apply for this kind of gains which would be 10% for me. Would the foreign earned income exclusion also apply for me like it applies for my side job? In germany capital gains tax are 25% after a 801€ "free" gain. Can I just open a US bank account and trading account and let the money sit in the states to only pay the lower rate? Or is the FACTA agreement working in both ways?
The American rate is lower for me now because I have low income. But the German tax is much easier to do and less intimidating. I fear that I get a letter with some ridiculous fee from the IRS if I start filing.
I don't know what to do since my options are limited here as a US Citizen. I also don't want to renounce my citizenship.
Another option is to use my mothers identity who is only a German citizen to open a German account for trading. That way I can do easy taxes with flat 25% on all capital gains. I fully trust my mother we have a good relationship so trust wouldn't be an issue.
I appreciate any kind of advice..
submitted by SeloPeylo to personalfinance [link] [comments]

Using World's Most Powerful Bitcoin Wallet To Buy Stock of Ebola Drugmaker

I recieved this in my inbox yesterday... "Would it be cynical of me to secure some stock in this company if it's available? From a disaster capitalist perspective, it would make sense.... http://www.usatoday.com/story/money/business/2014/08/08/tekmira-fda-drug-approval/13779095/ Ebola drugmaker's stock soars www.usatoday.com
I went ahead and used the Ultracoin wallet [this is a bitcoin wallet that allows you to trade exposure of nearly any public security] to go long on Tekmira Pharmaceuticals' stock
Were I to do this trade with Sharebuilder or TD Ameritrade, I'd have to formally open an account, submit documentation, and pay a much greater fee per trade..."
 I replied, "Cool. I will announce the position, keeping you anonymous of course" 
"Sure...
I'm really appreciating the fact that as I get email economic newsletters, or ad snail mail regarding different stocks, I can immediately use Ultracoin to go long or short after doing a little bit of research first..."
The wallet can trade exposure to Bitcoin, Ripple, Litecoin, Dogecoin, ALL major forex pairs, many lesser fiat currencies, all listed stocks on nearly all major global exchanges, commodities, bonds, futures, options, precious metals, indices, real estate, etc.
As I said, the world's most POWERFUL bitcoin wallet.
Download the wallet, along with tutorials, trade samples and research here - http://ultra-coin.com/index.php/download-now
submitted by Reggie-Middleton to Bitcoin [link] [comments]

The PROBLEMS with TD Ameritrade's FOREX - YouTube TDAmeritrade Introduces $0 Commission Fees TD Ameritrade Review  Is It Worth The Price? - YouTube TD Ameritrade - YouTube WHAT You NEED to KNOW About TD Ameritrade's $0 Commission ...

Moreover, there aren't any platform or subscription fees to trade forex. TD Ameritrade Forex Margin/Leverage One more reason we like TD Ameritrade is because their leverage requirements are lower than other popular FOREX platforms. They use a 50:1 and 20:1 leverage model depending on whether the pair you’re trading is a major pair or an ... Forex fees. TD Ameritrade's forex fees are low. Its main rivals Charles Schwab and E-Trade don't offer forex trading, so we looked at Interactive Brokers to compare forex trading fees. To have a clear picture on forex fees we calculated a forex benchmark fee for major currency pairs. As of April 5 th, 2020, TD Ameritrade Futures & Forex LLC offers forex trading from 6:00 p.m. – 5:00 p.m. ET daily, Sunday through Friday. Open new account Trade forex at TD Ameritrade and get access to world-class technology, innovative tools, and knowledgeable service - all from a financially secure company. Forex fees. TD Ameritrade's forex fees are low. Forex fees of a $20,000 30:1 position open, 1-week-hold, and close; TD Ameritrade Charles Schwab E*TRADE EURUSD benchmark fee $13.4 - - EURGBP benchmark fee $10.6 ... TD Ameritrade offers about 2,300 ETFs and these along with Equities are available on the broker’s Web platform or ThinkOrSwim desktop platform with no subscription or platform fees. Active traders will find TD Ameritrade’s ThinkOrSwim platform offers more advanced trading tools, comprehensive charting, market screeners and more valuable ...

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The PROBLEMS with TD Ameritrade's FOREX - YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Subscribe: http://bit.ly/SubscribeTDAmeritrade Every day, trillions of dollars are traded on the forex market, which influences other asset classes. To get a... TD Ameritrade Holding Corp. (NASDAQ:AMTD) announced Tuesday evening the brokerage firm will eliminate commissions for its online exchange-listed stock, ETF a... TDAmeritrade Introduces $0 Commission Fees Simpler Trader. ... WHAT You NEED to KNOW About TD Ameritrade's $0 Commission Trading! ... Why TD Ameritrade is Better For Trading Forex Meta Trader ... Welcome to TD Ameritrade's YouTube channel, the place to find videos that demonstrate our online trading platforms and technology as well as explain our inve...

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