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E*TRADE vs TD Ameritrade (best trading apps / software)
Compare | Winner | |
Ease of use | ||
Educational Resources | ||
Market Research | ||
Customer Service | ||
Mobile App | ||
Fees | ||
Account Types | ||
Security | ||
Trading Options | ||
Special Features | ||
FREE / PAID | TD Ameritrade primarily earns from services fees and commission on trades 💰. They offer zero commission on online stock, ETF, and option trades. The cost for broker-assisted trades is $25 💼. | E*TRADE monetizes through trade fees 💵. Regular stock and ETF trades are free, while options trades cost $0.65 per contract. Broker-assisted trades cost $25 🏦. |
Conclusion | TD Ameritrade shines 🌟 with its beginner-friendly platform and fantastic educational resources 🎓. No trading fees is a bonus 🎉! | E*TRADE is excellent for experienced traders 🙌, though beginners might find it challenging 🧗♂️. Good for research and data 📊. |
TD Ameritrade Pros & Cons
Easy to use, especially for beginners 👶
Exceptional educational resources 📚
Free trading on most offerings 👛
Excellent mobile app 📱
Wide array of account types 🗂️
E*TRADE Pros & Cons
Strong data and research 📊
Wide range of available account types 📂
High level of security 👮♂️
User-friendly mobile app 📱
Excellent customer service 🙋♂️
Varied trading options 💹
Some special features are lacking 🧩
Not the best for international trading 🌍
Some fees on specialty accounts 💸
Higher margin rates 📈
Limited access to high-yield savings ⏳
Less comprehensive trading options 🔄
More complicated for beginners 😕
Higher than average fees 💸
Lacks certain special features 🧩
Limited international trading 🌐
Website can be difficult to navigate 🏞️
Other best trading apps
Robinhood’s easy-to-use interface✨, and commission-free trades makes it great for beginners🎈, but lacks comprehensive research tools🔍.
Fidelity provides a solid trade execution, valuable research🔎, and an easy-to-navigate site🌐, making it a top choice for all types of traders💼.
Charles Schwab offers an all-round service🔄, great for beginners and pros alike👥. It also has excellent customer service🏅, but its platform could be more intuitive🚀.
FAQ
Which are some of the best trading apps available?
There are several highly recommended trading apps in the market, including E*TRADE, TD Ameritrade, Robinhood, and Fidelity. These apps are widely recognized for their robust features, user-friendly interfaces, and excellent customer service.
What features make E*TRADE stand out among other trading apps?
E*TRADE is acclaimed for its wide range of investment options, advanced trading tools, including charts and risk analyzers. Moreover, its educational resources for beginners make it an excellent choice for new investors.
What services does TD Ameritrade offer?
TD Ameritrade offers diverse trading options including stocks, bonds, ETFs, Forex, and futures. It also provides high-quality research tools, comprehensive investor education and outstanding customer service.
How user-friendly is the E*TRADE mobile app?
The E*TRADE mobile app is generally well-received for its user-friendly interface which allows for seamless navigation. Features like real-time quotes, interactive charts, and instant trade execution make the app easy to use for investors at all experience levels.
Can I trade international stocks with TD Ameritrade?
Yes, TD Ameritrade does offer international stock trading. However, this feature is only available for certain regions and comes with additional fees and requirements.
What types of accounts can I open with E*TRADE?
With E*TRADE, there is a wide range of accounts one can open, including individual and joint brokerage accounts, retirement accounts, custodial accounts, managed portfolios and small business retirement accounts.
Does TD Ameritrade provide educational resources?
Yes, TD Ameritrade provides a wealth of education resources, including articles, videos, webcasts, courses, and quizzes, on a wide range of trading topics. This makes it an excellent choice for beginner investors looking to learn more about the investing world.
What are the fees associated with using E*TRADE?
E*TRADE offers $0 commission trades on U.S. listed stocks, ETFs, and options. However, it does charge $0.65 per contract for options trades, and its broker-assisted trades cost $25.
What platforms does TD Ameritrade offer for trading?
TD Ameritrade offers three platforms for trading: Web Platform for basic everyday investing, Trade Architect for more advanced trading strategies, and Thinkorswim for active traders.
Is E*TRADE suitable for beginners?
Yes, E*TRADE is highly suitable for beginners. Its user-friendly interface and comprehensive educational resources make it easy for novice investors to navigate and learn about trading.
How reliable is TD Ameritrade’S customer service?
TD Ameritrade is recognized for its excellent customer service, offering 24/7 phone support, and live chat services. Their dedicated team of professionals are always ready to offer assistance.
How secure is investing with E*TRADE?
E*TRADE maintains top-notch security measures including encryption and fraud protection to ensure your investments and personal details are secure.
Does TD Ameritrade offer a demo account?
Yes, TD Ameritrade offers a demo account through its paperMoney platform. This is a virtual trading tool that lets beginner investors familiarize themselves with the platform before they start real trading.
How does E*TRADE’S trading platform compare to other traditional brokers?
E*TRADE’s platform excels in terms of user experience compared to other traditional brokers. It offers advanced charting capabilities, customizable workspaces, and an all-in-one trade ticket. Additionally, comprehensive research tools and educational resources further strengthen its stand.
Are there any unique features offered by TD Ameritrade?
One distinctive feature of TD Ameritrade is their Thinkorswim platform, which offers comprehensive investment research tools, educational resources, and advanced trading capabilities. It also lets you test your strategies in a simulated trading environment.
What do I need to open an account with E*TRADE?
To open an account with E*TRADE, you would need your social security number, employer’s address and phone number, and beneficiary’s social security number (if setting up an IRA account). The process is easy and can be completed online.
Does TD Ameritrade offer resources for retirement planning?
Yes, TD Ameritrade provides resources such as articles, blogs, webcasts and tools that are specifically designed to guide you in planning your retirement.
What is the minimum deposit to open an E*TRADE account?
There is no required minimum deposit to open an E*TRADE Basic Brokerage Account. However, certain types of accounts and investments may require a minimum deposit.
Does TD Ameritrade charge commission fees for trades?
In October 2019, TD Ameritrade eliminated its base commission fee for online exchange-listed stock, ETFs, and option trades, making it more cost-friendly for investors.
Is E*TRADE a good option for active traders?
Yes, with robust research tools, advanced trading platform and competitive pricing, E*TRADE presents a compelling option for active traders.
What are some of the most recommended trading apps available today?
Some of the top-rated trading applications include E*TRADE, TD Ameritrade, Robinhood, and Interactive Brokers. These platforms all provide a range of features tailored to suit different types of traders, from beginners to experienced.
Can you explain some key features of the E*TRADE application?
E*TRADE is equipped with powerful tools that aid traders in their investment strategies. These include real-time quotes, advanced charting, risk analysis tools, and extensive research resources. It also offers retirement planning and financial consultation services. More details can be found on their website.
What makes TD Ameritrade a reliable trading app?
TD Ameritrade is known for its comprehensive features including an easy-to-use interface, high-quality research tools, a wide range of investment options, and exceptional customer service. It’s regarded as an excellent choice for both novice and experienced investors and traders. Details are available on their website.
What is the minimum deposit for these trading apps?
The minimum deposit varies by platform. For E*TRADE, the minimum deposit is $500 for brokerage accounts, while there’s no minimum for TD Ameritrade. It is always beneficial to check the specific requirements of each platform before getting started.
Do these apps have physical locations I can visit?
Yes, both E*TRADE and TD Ameritrade have physical branches across the US. You can check the E*TRADE branch locator and the TD Ameritrade branch locator for the exact locations.
What type of accounts can I open with these platforms?
Both E*TRADE and TD Ameritrade offer a variety of account types including standard brokerage accounts, retirement accounts (IRAs), managed portfolios, and small business retirement plans among others.
Are E*TRADE and TD Ameritrade mobile-friendly?
Absolutely, each platform has a mobile app available for download on both iOS and Android devices. The E*TRADE and TD Ameritrade mobile apps offer intuitive user interfaces and a full suite of trading tools.
Do these trading apps require a commission fee for trading?
As of October 2019, both E*TRADE and TD Ameritrade have eliminated commission fees on online exchange-listed stock, ETF, and options trades.
What sort of investor is E*TRADE best suited for?
E*TRADE is a versatile platform that suits a variety of investors including beginners, those seeking retirement planning, day traders who require advanced features, and long-term investors seeking steady growth.
And what kind of trader would benefit most from TD Ameritrade?
TD Ameritrade is optimal for investors of all kinds — from beginners to advanced traders — although it’s particularly advantageous for those needing high-quality research tools and those interested in retirement planning.
How well-rated are E*TRADE and TD Ameritrade apps by users?
Both apps rank highly based on user reviews. The E*TRADE mobile app has a 4.3 rating on the Apple App Store and a 4.2 rating on Google Play Store. Meanwhile, the TD Ameritrade mobile app is rated 4.5 on both platforms.
Can I practice trading for free on these platforms?
Yes, both E*TRADE and TD Ameritrade provide access to a virtual trading simulator that allows you to practice without risking actual money.
How secure are my investments in these apps?
Both E*TRADE and TD Ameritrade use multiple layers of security to protect your information and investments, including advanced encryption technology. Furthermore, they are members of the SIPC, which provides limited coverage in case of bankruptcy.
Can I get research and analysis information on these apps?
Indeed! E*TRADE and TD Ameritrade offer exceptional research tools and resources to help investors take well-informed decisions. This includes market news, data analysis, reports from experts, and interactive charts.
What are the customer service options for these apps?
E*TRADE and TD Ameritrade offer 24/7 customer support via phone, email, and live chat. They also accommodate in-person consultations at their physical branches.
Are there educational resources available on these apps?
Yes, both E*TRADE and TD Ameritrade offer extensive educational resources including articles, video tutorials, webinars, and in-app courses to empower investors with knowledge on various trading aspects.
What kind of trading options are available on these apps?
E*TRADE and TD Ameritrade provide a wide range of trading options including stocks, ETFs, futures, options, mutual funds, bonds, and even forex trading on TD Ameritrade.
Can I trade globally on these platforms?
E*TRADE mainly offers trading in US-based securities, while TD Ameritrade has more extensive global trading options, including non-US stocks, as part of its platform.
Can I manage my account settings and preferences in these apps?
Yes, you can fully manage your account settings and preferences on both the E*TRADE and TD Ameritrade apps. This includes personal details, security settings, communication preferences, and trading settings.
Can I receive notifications or alerts from these apps?
Definitely! E*TRADE and TD Ameritrade offer customized alerts on price movements, account changes, and other critical trading-related information, enabling you to stay updated in real time.