Profile
TD Ameritrade was a major U.S. online brokerage founded in 1975 and later acquired by Charles Schwab Corporation. As of May 2024, the TD Ameritrade brand and platforms have been fully retired and all client accounts and operations have been transitioned to Charles Schwab & Co. ([turn0search3]:contentReference[oaicite:0]{index=0}).
Regulation and Security
While active, TD Ameritrade operated as a highly regulated U.S. broker, licensed by the SEC, CFTC, and a member of FINRA. Client assets were protected under SIPC insurance up to $500,000, with additional private coverage beyond those limits ([turn0search2]turn0search10).
All regulatory obligations, fund segregation, and investor protections have since been inherited by Charles Schwab, which now handles the former TD Ameritrade client base under its own SEC/CFTC licenses ([turn0search3]turn0search26).
Execution Model
TD Ameritrade provided high-performance retail execution via its proprietary platform thinkorswim, with average execution speeds around 0.04 seconds and price improvement on ~97% of orders prior to migration to Schwab ([turn0news18]turn0search3). Schwab has since integrated thinkorswim, offering sustained performance and building off TD’s best‑execution model ([turn0search24]turn0search26).
Trading Platforms
TD Ameritrade’s flagship platform was thinkorswim—available in desktop, web, and mobile formats—well-regarded for advanced charting, options analytics, and strategy testing ([turn0search24]turn0search6). With the merger now complete, Schwab clients access thinkorswim along with Schwab’s StreetSmart Edge and web interface ([turn0search1]turn0search24).
Supported Markets
Under TD Ameritrade, clients accessed a broad range of instruments including equities, options, futures, forex, mutual funds, ETFs, and educational brokerage services ([turn0search4]turn0search12). These offerings continue under Schwab’s product ecosystem post-integration.
Account Types and Conditions
TD Ameritrade required no account minimum for standard brokerage accounts, with a $2,000 requirement for margin trading per U.S. regulation ([turn0search2]turn0search6). Commissions were eliminated on U.S. equities and ETFs in line with industry trends. Schwab maintains these zero‑commission terms today ([turn0search4]).
Retail and Institutional Features
TD Ameritrade was known for its educational resources, research tools, and service quality. The firm offered advanced trading tools through thinkorswim and strong client support ([turn0search4]turn0search12). Post-merger, Schwab continues to serve both retail and institutional segments with similar capabilities and continued thinkorswim access ([turn0search1]turn0search26).
Client Protection and Transparency
TD Ameritrade’s strong compliance record included SIPC coverage, audited financial disclosures, and SEC/CFTC oversight ([turn0search2]turn0search10). After the merger, Schwab assumes full regulatory responsibility and disclosure obligations for the integrated client base ([turn0search3]turn0search26).
Base Currencies, Order Types, and API Access
TD Ameritrade supported U.S. dollar accounts. Its order types included market, limit, stop, trailing stop, and advanced order combinations. API access and advanced execution tools were offered primarily through thinkorswim and Schwab’s developer platform post-merger ([turn0search24]turn0search6).
Pros and Cons
- Pros:
- Robust regulation by SEC, CFTC, and FINRA
- Client protection via SIPC insurance up to $500,000
- Thinkorswim platform for advanced charting and options analytics
- Zero commissions on U.S. equities and ETFs prior to merger
- Highly rated education and customer support
- Cons:
- No longer operates as an independent entity (shut down May 2024)
- All services now provided under Charles Schwab brand
- Historical small-dollar commission practices led to multi-state settlement in 2025 ([turn0news19])
Frequently Asked Questions
Does TD Ameritrade still operate?
No. TD Ameritrade ceased independent operations in May 2024 after being fully merged into Charles Schwab & Co. All customers now use Schwab’s platforms and services ([turn0search3]turn0search1).
Is my account protected?
Yes. Client assets are now held under Charles Schwab’s regulatory framework with SIPC protection up to $500,000, plus additional private insurance where applicable ([turn0search2]turn0search10).
Can thinkorswim still be used?
Yes. The thinkorswim platform continues to be offered by Schwab to former TD Ameritrade clients, with ongoing feature development including 24/5 trading expansion in 2025 ([turn0search24]turn0search26turn0news21).
Are trading fees still zero for stocks and ETFs?
Yes. Schwab maintains the $0 commission structure for U.S. equities and most ETFs that TD Ameritrade introduced in 2019 ([turn0search4]turn0search26).
Was TD Ameritrade ever fined?
In June 2025, multi-state regulators fined TD Ameritrade (now under Schwab) $9.3 million over excessive commissions charged on small-dollar equity trades between 2018 and 2023. Schwab agreed to restitution and policy changes ([turn0news19]).
