Here are a few good reasons to consider opening your IRA with TD Ameritrade.
If you open your TD Ameritrade IRA with at least $3,000 within 60 days, you’ll receive a cash bonus:
Don’t have much to deposit into your IRA? That’s OK: TD Ameritrade requires no minimum initial deposit for any of its IRAs.
Also, you won’t have to worry about high-pressure maintenance fees.
| Traditional IRA | Roth IRA | Rollover IRA | |
|---|---|---|---|
| Minimum initial deposit | None | None | None |
| Maintenance fees | None | None | None |
TD Ameritrade isn’t the cheapest investment platform. Stock trades, for example, cost $0 each. In contrast, platforms like Ally Invest, Charles Schwab and Fidelity charge $4.95 per trade. If you plan to use your IRA to trade regularly, consider a platform with lower fees.
| Stocks and ETFs | Stock options | Futures |
|---|---|---|
| $0 per trade; noncommision ETFs available | $0 + $0.75 per contract | $2.25 per contract |
| No-fee mutual funds | No-load mutual funds | Load mutual funds |
|---|---|---|
| No commission | $49.99 per purchase | No commission |
| Bonds | CDs | UITs |
|---|---|---|
| Treasuries at auction available commission free; net yield for all other bonds | Net yield for new issue and secondary | Net yield for new issue and secondary |
| FX noncommission | FX commision | FX margin |
|---|---|---|
| Cost reflected in wider spreads | $0.10 per 1,000 units ($1 minimum) | 50:1 leverage on major pairs ($200 margin requirement); 20:1 leverage ($500 margin requirement) |
Jennifer Gimbel
Loans Editor
Overall, I’d say I’m happy with my decision. I was able to open an account online and deposit my money in less than 30 minutes. And when I first logged in, their online account platform was intuitive and easy to navigate.
While I didn’t take their financial advice into account when selecting the stocks I wanted to invest in, the process for purchasing them was painless — I simply searched for the stock in its dashboard, selected how many shares I wanted to invest in and the trade was done right then and there. I was charged a small fee to execute these trades, but because I plan to sit on these funds and let them grow, it didn’t really faze me.
According to TD Ameritrade, it takes just 15 minutes to open an IRA. Go to the TD Ameritrade website and click Open new account to begin the application.
After you’ve completed the application, review your details and then agree to TD Ameritrade’s terms to create your login details.
To get started, you’ll need your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).
If you’re not a US citizen or permanent resident, you’ll need your foreign tax ID, visa number or passport.
In all cases, you’ll need your employer’s name and address.
TD Ameritrade isn’t the cheapest brokerage. However, you’ll like that its IRAs require no minimum deposits or maintenance fees.
If you don’t have time for research or you want to build your portfolio on professional advice, invest in TD Ameritrade’s wide selection of mutual funds and ETFs. Or build your own portfolio through the brokerage’s third-party research.
TD Ameritrade IRA
Available asset types
Stocks
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
N/A
Tastytrade
★★★★★
Finder rating 4.4 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get $50-$5,000
Robinhood
★★★★★
Finder rating 4.5 / 5
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Get a free stock
TD Ameritrade IRA is not currently available on Finder
Have you considered Tastytrade?
Competitive, capped options commissions, with a reliable trading platform designed for serious traders.
The best Roth IRA investments may include a mix of index funds, dividend stocks, bond funds and other long-term investments.
Explore the pros and cons of the best SEP IRAs and learn how to open one of these accounts.
Explore the advantages and shortcomings of the best rollover IRAs for beginners, mobile trading, advanced traders and more.
Learn how to retire early with practical steps, age-specific advice and insights for a secure future.
See how Beagle can find all your old 401(k)s, uncover hidden 401(k) costs and roll over your accounts.
What you need to know to start building your retirement nest egg.
Check out our picks of the best Roth IRA accounts for beginners, options traders, hands-off investors and more.
Check out our picks of the best IRA accounts for beginners, options traders, hands-off investors and more.
National databases can help you uncover lost funds, but you’ll want a safe place to store them.
See if Capitalize’s free 401(k) search and rollover service is right for you.