Undoubtedly, nowadays, a lot of us have wondered what it takes to start trading online. Usually, it requires a starting fee and a lot of complicated guides and tutorials that can create more confusion than clarity. What is more, some of them might come with pretty impressive commissions.
In the next lines, we will introduce you to a trading app that has no trading fee, and that will not make you go through complicated tutorials, it is beginner-friendly and does not take any commissions on stock, option trades, and ETFs.
TD Ameritrade received a top rating for its numerous great features, such as platforms and tools, education, and customer service. Basically, it’s an app that is more than perfect for new traders but also for experienced ones. If you wish to become a trader or if you wish to become an even smarter trader than you already are, this might be the app for you.
TD Ameritrade Features
You can begin trading right away as a beginner or even as an already experienced investor. They have different types of accounts you can create so you can choose the one that is best suited for you. They give full access to their platforms and tools right away. This makes TD Ameritrade a competitor that is tough to beat by all other trading apps.
The app comes with a lot of valuable information that will teach you how to adapt to the market as it fluctuates every day. A very interesting quote that quickly catches your attention can be found on their site, and it says: “When the market strikes, learn how to strike back”.
You can actually learn how to strike back with the education that they offer, so this is an excellent feature for trading beginners. Some of the most important ones include investing courses, access to high-quality, extensive research, and much more.
The app also comes with a virtual trading simulator, and this is not a feature that you can easily see on other platforms. The paperMoney simulator can be run on desktop and comes with $100,000 practice funds for you to start trading. It offers a 60-day free trial, so you can practice before investing actual hard-earned cash.
Their platform is linked to a lot of other amazing features meant to guide your experience as much as possible. You can get insights and the latest news from Yahoo! Finance right in their app, and you can customize the tab in order for it to serve your needs.
Pricing
This is a free trading app. There’s no required purchase for you to install the app and start trading. There is no account minimum, it comes with free extensive research. But the broker-assisted trades are quite costly, compared to the competition. You can also receive up to $600 cash credit if your deposit qualifies.
The trading commission is only $6.95. But you can also find a wide range of free online stock, options trades, and ETFs. However, in tandem with other brokers, TD Ameritrade still charges a $0.65 fee per contract for option trades. With more than 11,000 mutual funds that come with an expense ratio of 0.5% or less, TD Ameritrade is recommended for beginner fund investors.
Availability
The app is available for desktop and mobile, so you can search for TD Ameritrade in your iOS app store or Play Store. The mobile version comes with Level II quotes, which are not available on the platform for desktop. The mobile app is regarded as more of a companion of the web version. So make sure you check them both for full functionality.
How To Get The App
Getting this app is just as easy as any other app that you wish to obtain, simply go into your App Store. Alternatively, you can click here and choose the version you need.
Summary
If you wish to start trading, TD Ameritrade is the right choice. It is a rare broker app that comes with lots of features ideal for both beginners and more experienced traders. Its main highlight is that it comes with $0 commission on stock, option trades, and ETFs. You benefit from education and investment courses and a wide range of tools to help you starting trading right away.