TD Ameritrade Reviews?

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stlutz
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TD Ameritrade Reviews?

Post by stlutz » Thu Aug 08, 2013 11:01 pm

I'm considering opening account at TD Ameritrade because of their free ETF program. I've seen a lot of reviews on this forum about Fidelity, Schwab, and of course Vanguard, but not as many for TDA.

I'm not so much interested in the basics (i.e. I assume that if I say "buy 100 shares" it will buy 100 shares; I also trust that their phone support can answer basic questions and be friendly while doing so; I can also look at their website to get a full menu of fees).

Specific questions I have are:
--How good/accurate is their tax reporting and cost-basis recordkeeping?
--If you've actually had a problem with them, how hard was it to get the issue resolved?
--Any little quirks that people should know about (I'm thinking of things like VG Brokerage's long cash hold time or the VG fund side's maximum number of funds you can ever own etc.)

Thanks in advance for any responses!

mrpotatoheadsays
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Re: TD Ameritrade Reviews?

Post by mrpotatoheadsays » Thu Aug 08, 2013 11:50 pm

I fired them several years ago. Their salesmen were calling me at work and leaving messages on my home answering machine pitching their crap and trading tools. They make most of their money off traders, so they are always looking for new suckers. When Toronto Dominion (TD) purchased Ameritrade, it went down hill quick.

I'm with Vanguard Brokerage now. No one has ever bothered me.

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JoMoney
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Re: TD Ameritrade Reviews?

Post by JoMoney » Fri Aug 09, 2013 12:33 am

I used to trade with a broker that offered free stock trades, I forget the name, but it was bought by Ameritrade. At that point, I closed the account. Then TD Waterhouse bought/merged with Ameritrade. Ever since I've been getting emails trying to get me to "update" certain options and details on my account. The account was closed 10+ years ago, I've called to explain to them I want the account closed and off their mailing list. They'll say they corrected the error and the account is now closed. Then a year or so later they'll start emailing me again to update my account.
I don't know much about their business, but this quirk/glitch/whatever that keeps coming up makes me angry. I just want the account closed for good. In my mind, it's ruined their name (not that I ever thought they had a good reputation).

I believe the issue you're referring to ("VG Brokerage's long cash hold time") is the "settlement period", and I believe you'll run into this with any broker unless you have a margin account where you can effectively borrow money while you're waiting for something you sold to settle.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

kamason86
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Re: TD Ameritrade Reviews?

Post by kamason86 » Fri Aug 09, 2013 12:42 am

I use TD Ameritrade for their free ETF's. I have had one issue with a bad charge selling then re-buying the same ETF in the same day but was fixed after arguing with supervisor. Their statement cover page gives you details on contributions for current and past year and havn't had any tax reporting problems. They have a gain/loss tab and it gives detailed status for each purchase. I like it.

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serbeer
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Re: TD Ameritrade Reviews?

Post by serbeer » Fri Aug 09, 2013 1:11 am

I've been using them as my primary brokerage since 1999. No problems at all. Customer service is excellent, trades are instantenious, blackouts only happened half-dozen times in all these years. Never a problem with documentation and tax reporting. Selection of comission-free ETFs is nearly perfect (except VPL is not among them, and it is perfect complement for VGK which is in the list). A lot of free tools (that I do not use being passive investor). If you invest over $100K with them you get so-called APEX status that waves some fees and gives you superior customer service.

I do not think there is anything better out there if you boglehead-style ETF investor. If you are mutual funds investor, use Vanguard or Fidelity instead.

livesoft
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Re: TD Ameritrade Reviews?

Post by livesoft » Fri Aug 09, 2013 6:20 am

We've used TDAmeritrade nee TDWaternouse for almost 20 years. We rarely make any trades in the account anymore, but find them to be a very good broker. We have a joint taxable margin account and an IRA with them.

1. Tax reporting is better than Vanguard, but not as good as WellsTrade. We have non-covered and covered positions with them in our taxable account. Their 1099 is trivial to download into Turbotax, but unlike WellsTrade, they do not fill in the cost basis on the 1099 for non-covered shares. For covered shares, no problems. On their web site, they show unrealized and realized gains/losses with the well-regarded GainsKeeper tool. So for tax-reporting I give them a B. (Vanguard gets a C, WellsTrade gets an A+).

2. No problems with them.

3. No quirks. We don't get called by the reps. They have a local office which we have used to deposit indirect IRA rollover checks, submit forms to donate shares, submit forms to gift shares to children, etc. They are open on December 31st in case any one has last minute year-end transactions to complete. We deal with the same person all the time in that office.

4. We have had CDs purchased through them with 5+% interest rates. We have gotten cash rebates for depositing money. We have transfered shares "in-kind" out of TDAmeritrade to WellsTrade and all the dates, share amount, dollar amount of the transactions were transferred as well (ACAT was used)).

5. They periodically change their trading tools. For example, CommandCenter is going away in September and I like it. Most of my "live" trading charts that I have posted to the forum come from the CommandCenter tool used in my TDAmeritrade account.

6. Auto-reinvest of ETF dividends is trivial. They make dividends available about a day sooner than Vanguard does for Vanguard ETFs and other investments.

7. ACH transfers to/from checking account are easy and problem free.

I highly recommend them, but even so I prefer WellsTrade over them, and of course I stopped using Vanguard Brokerage Disservices.
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jlgrandam
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Re: TD Ameritrade Reviews?

Post by jlgrandam » Fri Aug 09, 2013 9:04 am

I also use them to buy free Vanguard ETF's and find TDA to be very satisfactory.

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Ketawa
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Re: TD Ameritrade Reviews?

Post by Ketawa » Fri Aug 09, 2013 9:13 am

I transferred my Roth IRA to TD Ameritrade earlier in the year for the free cash. I have never had sales representatives try to push products on me.

When I transferred, there was a promotion for about 100 free trades for about 60 days upon joining, which makes it easy to make sure you asset allocation is exactly where you want it. Once you're in the free ETFs program, it works fine, just keep in mind that you need to wait 30 days after buying to be able to sell without incurring an expensive fee.

I plan to transfer my Roth IRA again in November to get more free cash from another brokerage.

snowman
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Re: TD Ameritrade Reviews?

Post by snowman » Fri Aug 09, 2013 9:39 am

TDA is our primary broker since about 1997. With the exception of i401k at Fidelity, all of our accounts (plus the kids accounts now) are there. I highly recommend them.

Pluses:

1. Being APEX customer gets you superior customer service. If you have a question or issue, your call is answered in less than 30 seconds by a very knowledgeable rep. Anything gets fixed ASAP, you get a feeling your satisfaction is their top priority. Even mistakes on my end (i.e. I did not enroll kid's account into commission-free program, got charged commissions, noticed it couple months later, called, it got removed immediately, account was enrolled in the program, got asked what else they can do for me to keep me happy, etc.).

2. Reporting - I find it flawless, it's available online as well, no issues there.

3. Great website. This is completely personal, but I really like how your portfolio is presented, how you can link all of the accounts (we have so many) into single login and view them individually or combined, and how you can create multiple watch lists. Much better than Fidelity, IMO. On the other hand, Fidelity has better tools and calculators, IMO.

Minuses:

1. Local branches.

I think in TDAs case, it's almost a liability, not an asset. I suspect this varies by location, but my branch is awful, no other way to describe it. For example, you walk in to make a quick deposit to your IRA account. Mysteriously, a minute later broker comes to the front desk to shake my hand and to offer his advise on my investments. I politely decline, but he is persistent and keeps talking until I leave. You feel like you are in a car dealership and the sleazy salesman much less knowledgeable than you tries to sell you an overpriced car. He calls periodically to offer his advise. I don't even answer those calls anymore, they go straight to VM.

Couple times, deposits went into wrong account (i.e. TIRA check went into Roth IRA account). That's just sloppiness at the local branch. Called 800 number, they fixed it, apologized, could not believe local branch was this bad. When the rep asked "What else can we do for you today?", I said please, please stop them from calling me and trying to sell me! He said he has no control over local branches, and suggested I do everything online or over the phone. So that's what I do now.

2. Dividend reinvestment program. It's free to enroll, so no issues there, but in retirement accounts, the dividends are paid 1-3 days later compared to both TDA taxable and Fidelity i401k accounts. I don't think it's a big deal, but thought I would mention it.

All in all, I highly recommend them - it's a great way to buy Vanguard ETFs commission-free. I would just stay away from local branches and learn to ignore sales calls. If you have more specific questions, feel free to ask.

livesoft
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Re: TD Ameritrade Reviews?

Post by livesoft » Fri Aug 09, 2013 10:05 am

snowman wrote:2. Dividend reinvestment program. It's free to enroll, so no issues there, but in retirement accounts, the dividends are paid 1-3 days later compared to both TDA taxable and Fidelity i401k accounts. I don't think it's a big deal, but thought I would mention it.
My experience with and stock & ETF dividend re-investment is that TDAmeritrade pays in a timely fashion as soon as other brokers. Since the payable date for ETF dividends (see Vanguard web site) is a few days AFTER the associated mutual fund payable date, I wonder if that is what you are seeing? Anyways, ETF dividend re-investment is different from mutual fund re-investment.

When I had mutual funds at TDAmeritrade years ago, the mutual fund payable date was the same as everywhere else, so one got the shares at the NAV of that day, but the TDAmeritrade updated a day later than the update on the fund family web site. This happens at my other brokers where the fund is not held directly with the fund family.
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heyyou
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Re: TD Ameritrade Reviews?

Post by heyyou » Fri Aug 09, 2013 10:08 am

A fee only financial advisor ($3 B in assets) uses the institutional side of TDA as a custodian for some of the customers' accounts. That could be diversification, or cost driven, or suitability for seldom traded accounts. It does mean that the advisor at least trusts TDA to not irritate his customers.

hicabob
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Re: TD Ameritrade Reviews?

Post by hicabob » Fri Aug 09, 2013 10:15 am

I find them fine - I have told them specifically not to annoy me and if they do call (twice a year perhaps) I tell them that I should be on the "do not annoy list " which ends the call with an apology - they have terrible cost basis keeping but seem to keep track of money, stocks, etfs, dividends etc accurately and have free trades for many vanguard products so works for me

Grt2bOutdoors
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Re: TD Ameritrade Reviews?

Post by Grt2bOutdoors » Fri Aug 09, 2013 10:26 am

I prefer them over Fidelity.

I have been with them since the Waterhouse days. I never get solicited for business - no phone calls, maybe an occassional piece of snail mail to my home (how is that any different from the mailings I receive from Fidelity and Vanguard?).

Trade execution is very good. I find their spreads to be better than Fidelity's in some instances.

Tax cost basis reporting is very good. Account is credited with interest and dividends as expected, no delay.

ACH in and out - seemless once you've set your bank account information up.

Customer service - via phone is excellent. The few occassions I've had interactions with them, they've always thanked me for my business. I do not trade frequently so this nonsense about they seek active traders is bunk. Of course they are looking for active traders, but if you prefer to leave your assets on deposit with them, don't you worry they'll make money off of you from securities lending and or margining your low/no cost cash deposits to some other customer. All the brokerages do that - it's not a cost free business to operate. Not all brokerages offer excellent customer service though, something to keep in mind. Schwab's customer service is excellent as well.

If you prefer, you can use the online agent or you can drop them an e-mail to which they will usually respond within 24 hours.

They offer a 100 ETF program for no commission. While I'm signed up for it, I've never used that feature. So I can't really comment on that.

All in all, I'd say they are a decent broker.
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matonplayer
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Re: TD Ameritrade Reviews?

Post by matonplayer » Fri Aug 09, 2013 11:00 am

I've no complaints with TDA with the exception of the local sales guy who keeps calling and leaving messages on my cell phone. I just ignore them.

goodenoughinvestor
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Re: TD Ameritrade Reviews?

Post by goodenoughinvestor » Fri Aug 09, 2013 11:15 am

I have been lurking here for a while but felt compelled to register just so I could respond to this post. I have had a miserable time with Ameritrade. The issue has not been about trading or investments but I do think it speaks to their general level of competence and how they interact with customers. The short(ish) story: I had an UGMA account for my daughter. There was some uncertainty about when the account had to be switched to a "regular" account in her name because the cut-off age was different in the state where I first opened the account and the one I now live in. The "uncertainty" was on the part of Ameritrade who first sent me a notice saying the UGMA needed to be switched to a regular account, but every time I called I received a different answer as to whether this was in fact the case. Even talking eyeball to eyeball with someone in one of their offices did not stop the utter confusion coming out of Omaha. Upshot: Two weeks before tuition is due for her next semester they have both frozen the account because she is no longer a minor AND are refusing to convert it into an individual account my daughter can access. Why? They want to see a copy of her social security card or a letter from Social Security Administration confirming her number. They refuse to accept any alternative proof of her social security number, such as her tax return or a pay stub. I don't have her social security card. In order to get a copy of it, or a letter from SSA, she (or I) must go into a SSA office with either her driver's license or passport. The problem: Both she and these two forms of ID are away for the summer at a place with no cell or internet service, or SSA office. Apparently, the problem from Ameritrade's standpoint is that she has no credit score (not uncommon among college students) and therefore they cannot make use of credit-reporting agencies to confirm her identity before opening an individual account for her. Did I mention tuition is due? She will only be home over a weekend before going back to college. (The SSA officess don't have weekend hours.) I have explained to everyone I have spoken to at Ameritrade that they are creating a real hardship for our family etc etc and while they are sympathetic, the powers that be in Omaha won't budge. So, my perception of Ameritrade is that they have very poorly trained staff, many of whom are mis-informed. Their willingness to work with a customer in this sort of situation is nil. Result: real pain and suffering. My advice would be to stay away from them.

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Pajamas
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Re: TD Ameritrade Reviews?

Post by Pajamas » Fri Aug 09, 2013 11:32 am

I was a happy Waterhouse customer for years. TD bought them and they were okay. The problems came about once Ameritrade then bought TD Waterhouse including long waits on the phone for customer service. They gave me incorrect instructions regarding an IRA and the date they needed to have documents and it cost me several thousand dollars. They admitted giving me incorrect instructions but said it was my responsibility regardless. That was true but I transferred all my accounts to Siebert because of their excellent customer service.

Only after I submitted the transfer papers did TD Ameritrade contact me, trying to retain my accounts.

My suggestion before choosing a brokerage, bank, or credit card is to call their customer service line and see how long you are on hold at peak and off-times.

I pay a few dollars more for trades with Siebert over Ameritrade. The margin rate was significantly lower which more than made up for that. Although I no longer use margin, I also trade less frequently now, so it's still worth paying a little more for better service, in my opinion.

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wjo
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Re: TD Ameritrade Reviews?

Post by wjo » Fri Aug 09, 2013 11:36 am

TD institutional user - no problems on my end. They seems to be accurate, responsive to inquiries. Reporting is pretty good/thorough.

snowman
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Re: TD Ameritrade Reviews?

Post by snowman » Fri Aug 09, 2013 2:40 pm

livesoft wrote:
snowman wrote:2. Dividend reinvestment program. It's free to enroll, so no issues there, but in retirement accounts, the dividends are paid 1-3 days later compared to both TDA taxable and Fidelity i401k accounts. I don't think it's a big deal, but thought I would mention it.
My experience with and stock & ETF dividend re-investment is that TDAmeritrade pays in a timely fashion as soon as other brokers. Since the payable date for ETF dividends (see Vanguard web site) is a few days AFTER the associated mutual fund payable date, I wonder if that is what you are seeing? Anyways, ETF dividend re-investment is different from mutual fund re-investment.

When I had mutual funds at TDAmeritrade years ago, the mutual fund payable date was the same as everywhere else, so one got the shares at the NAV of that day, but the TDAmeritrade updated a day later than the update on the fund family web site. This happens at my other brokers where the fund is not held directly with the fund family.
Here are some specific examples in 2013, and it's been like this for many years. As I said, no big deal, just something to be aware of.

BND dividend paid at TDA in tax-deferred accounts on following dates: 04-08; 05-08; 06-10; 07-09; 08-08;
BND dividend paid at Fidelity in i401k on following dates: 04-05; 05-07; 06-07; 07-08; 08-07;

Fidelity pays on time, TDA hold the money for at least a day.

VTI dividend paid at TDA in tax-deferred accounts on following dates: 04-01; 07-01;
VTI dividend paid at TDA in taxable account on following dates: 03-28; 06-28
VTI dividend paid at Fidelity in i401k on following dates: 03-28; 06-28

Fidelity and TDA-taxable pay on time, TDA-tax deferred holds money.

I called them couple years ago for explanation, I don't remember the specifics but was told that when I reinvest dividends (which I only do in tax-deferred accounts), they pay them later.
Last edited by snowman on Fri Aug 09, 2013 2:56 pm, edited 1 time in total.

snowman
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Re: TD Ameritrade Reviews?

Post by snowman » Fri Aug 09, 2013 2:51 pm

Pajamas wrote: My suggestion before choosing a brokerage, bank, or credit card is to call their customer service line and see how long you are on hold at peak and off-times.
Generally a good suggestion, but not very practical, IMO. TDA clearly has 2 levels of CS - APEX and non-APEX. My experience has been excellent, but I suspect it's because I am an APEX customer. If OP has no current accounts with TDA, he may be on hold for a very long time, and who knows what kind of support he is going to get.

The one thing I like when I have to call (happens rarely) is that even when you get asked for your account number, I just press "I don't remember it" number and the call gets answered almost immediately by a very knowledgeable person. When I commented on that one day, the guy told me the APEX accounts are tied to my home phone number. So as long as I call from that number, no matter which account the question is about, I get through in 30 seconds or less. I like it.

livesoft
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Re: TD Ameritrade Reviews?

Post by livesoft » Fri Aug 09, 2013 3:34 pm

snowman wrote:BND dividend paid at TDA in tax-deferred accounts on following dates: 04-08; 05-08; 06-10; 07-09; 08-08;
BND dividend paid at Fidelity in i401k on following dates: 04-05; 05-07; 06-07; 07-08; 08-07;

Fidelity pays on time, TDA hold the money for at least a day.

VTI dividend paid at TDA in tax-deferred accounts on following dates: 04-01; 07-01;
VTI dividend paid at TDA in taxable account on following dates: 03-28; 06-28
VTI dividend paid at Fidelity in i401k on following dates: 03-28; 06-28

Fidelity and TDA-taxable pay on time, TDA-tax deferred holds money.
Excellent data. Thank you.

Here is data from IRAs for 2 other Vanguard bond ETFs at TDAmeritrade (re-invested) and WellsTrade (cash, not reinvested):

Code: Select all

VCSH
payable  04/04, 05/06, 06/06, 07/05, 08/06 
WellsTrd 04/04, 05/06, 06/06, 07/06, 08/06
TD invst 04/05, 05/07, 06/07, 07/08, 08/07

BIV
payable  04/05, 05/07, 06/07, 07/08, 08/07 
WellsTrd 04/05, 05/07, 06/07, 07/08, 08/07
TD invst 04/08, 05/08, 06/10, 07/09, 08/08
I wonder if the one-day delay is because of re-investing. I have heard that sometimes Fidelity "anticipates" the dividend and buys shares early to distribute to those who have selected the auto-reinvest option. I do not know if that has an effect, but Fidelity looks good in this regard.
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JD
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Re: TD Ameritrade Reviews?

Post by JD » Fri Aug 09, 2013 3:53 pm

I have used TD Ameritrade for years, actually we opened our account with Waterhouse sometimes in the 90's. There is no major problem that we encounter that I am aware of. I advise not to bother going to the local branch but do most of your business with them (or with others for that matter) on line, then phone if necessary.

We do get some calls from them, especially if we had to transfer money to our account but I usually listen and say "no thanks".

No major problem with TD Ameritrade, you may have some glitches here & there but you probably encounter that with others whether discount or full service brokers.

The only thing that I think of at this time is when we were working and living overseas; I transfered money via International wire transfer. The money reached TD Ameritrade or maybe that time it was Waterhouse 3 days later which is the norm.
Well, I bought stocks with that money as to my knowledge at the time that international wire cannot be reversed when reached its destination. Not the case here. Something happened and it was sent or recalled back to the main bank which was in a different city than my local bank.
I called TD Ameritrade and the rep said your overseas bank recalled this transection back and he affirmed that it has the power or the right to do so) and TD has no option but to send the money back. Now the stocks that I bought was costing me margin interests.
Anyhow, the overseas bank finally admitted that there was a mistake and deposited the money back to TD Waterhouse after 7 or 10 days, the whole thing was solved.
I think TD Waterhouse waived the interests but was not sure now. And I am not sure whether this was before or after 9/11 events.

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Re: TD Ameritrade Reviews?

Post by snowman » Fri Aug 09, 2013 4:04 pm

livesoft wrote: I wonder if the one-day delay is because of re-investing. I have heard that sometimes Fidelity "anticipates" the dividend and buys shares early to distribute to those who have selected the auto-reinvest option. I do not know if that has an effect, but Fidelity looks good in this regard.
Yes, that's what TDA rep essentially told me. It's not taxable vs. tax-deferred, it's "how the dividend reinvestment program works in general". I believed that until I opened i401k at Fidelity and somehow "in general" did not apply to them.

As I said, not a big deal, but some people may find it surprising, depending on what brokerage house they are coming from.

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KarlJ
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Re: TD Ameritrade Reviews?

Post by KarlJ » Fri Aug 09, 2013 4:56 pm

I have an Apex account at TD Ameritrade and getting sales calls and emails is definitely part of the package. At least quarterly I get a phone call from an aggressive salesman type representative pushing a managed portfolio product with fees based on AUM. I have told the rep numerous times that I am not interested in a managed portfolio, but next quarter like clockwork I get a another lengthy call pitching the same product all over again. TD Ameritrade does not have commission-free access to Treasury auctions and it costs $50 to buy or sell fee funds, such as the Vanguard funds. That said, Ameritrade has excellent trading tools, if you are into that.

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auntie
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Re: TD Ameritrade Reviews?

Post by auntie » Fri Aug 09, 2013 5:28 pm

I've had an apex account with TD Ameritrade for many years. I don't think they've ever called me. The few times I've contacted them I've gotten good responses. So far so good.
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stlutz
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Re: TD Ameritrade Reviews?

Post by stlutz » Fri Aug 09, 2013 6:28 pm

Thanks everyone for your comments. I've been moving the direction of utilizing Fidelity and this thread kind of confirms that. I'm at the point in my life where I'd rather spend a few bucks to make the 6 or 8 trades I actually execute per year than I would to pay zero and put up with various types of nonsense.

One nit I would have with TD that hasn't been pointed out is that they require you to have a margin account to trade with unsettled funds (Fido, Schwab, and VG do not have such a rule). I'm not a fan of brokers using such tactics to force people into having margin accounts.

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Re: TD Ameritrade Reviews?

Post by livesoft » Fri Aug 09, 2013 6:39 pm

With all the various brokers, there is always something that annoys you. None of them are saints. And different people are annoyed by different things. For example, just in this thread the annoyance factor for getting cold-called by the local TDAmeritrade rep (and even whether they try to contract you at all) is quite different.
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Taylor Larimore
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Brokers ?

Post by Taylor Larimore » Fri Aug 09, 2013 7:00 pm

Stiutz:

We no longer have any need for a third-party broker. Our few funds are held directly with Vanguard.

We closed our Vanguard brokerage account many years ago and became stay-the-course investors.

I strongly recommend keeping investing as simple as possible.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

stlutz
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Re: TD Ameritrade Reviews?

Post by stlutz » Fri Aug 09, 2013 7:14 pm

Thanks for the reply, Taylor. I agree with you on keeping things simple. That's actually my goal.

As I detailed in another thread, I recently sold some shares of a VG mutual fund in a tax loss harvesting move. They did not sell the cost lot I selected and instead overrode that with FIFO. Fixing this should have been easy to do. Four weeks in and the error is still not corrected. That's what I mean when I say that I really don't want to put up with nonsense to save a few bucks.

In my view, VG has made a business decision that they want to be an asset manager but aren't really into providing a high level of account service. I would prefer that they raise the cost of all of their funds a couple of basis points and address their issues with IT and/or inadequate staffing. Their decisions and my preferences in this case simply aren't in alignment.

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Re: TD Ameritrade Reviews?

Post by JD » Fri Aug 09, 2013 8:47 pm

livesoft wrote:With all the various brokers, there is always something that annoys you. None of them are saints. And different people are annoyed by different things. For example, just in this thread the annoyance factor for getting cold-called by the local TDAmeritrade rep (and even whether they try to contract you at all) is quite different.
+1

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Re: TD Ameritrade Reviews?

Post by Pajamas » Sun Aug 11, 2013 2:44 pm

snowman wrote:
Pajamas wrote: My suggestion before choosing a brokerage, bank, or credit card is to call their customer service line and see how long you are on hold at peak and off-times.
Generally a good suggestion, but not very practical, IMO. TDA clearly has 2 levels of CS - APEX and non-APEX. My experience has been excellent, but I suspect it's because I am an APEX customer. If OP has no current accounts with TDA, he may be on hold for a very long time, and who knows what kind of support he is going to get.

The one thing I like when I have to call (happens rarely) is that even when you get asked for your account number, I just press "I don't remember it" number and the call gets answered almost immediately by a very knowledgeable person. When I commented on that one day, the guy told me the APEX accounts are tied to my home phone number. So as long as I call from that number, no matter which account the question is about, I get through in 30 seconds or less. I like it.
I qualified for the APEX but they never bothered to tell me. One day one of the regular customer service reps asked me why I wasn't using it since I qualified when I complained about how long it took to get my call answered.

Beagler
Posts: 3442
Joined: Sun Dec 21, 2008 7:39 pm

Re: TD Ameritrade Reviews?

Post by Beagler » Sun Aug 11, 2013 4:17 pm

FWIW, didn't VG "recommend" them when they expunged all but the largest 401(k) plans from working directly with VG?
“The only place where success come before work is in the dictionary.” Abraham Lincoln. This post does not provide advice for specific individual situations and should not be construed as doing so.

learning_head
Posts: 836
Joined: Sat Apr 10, 2010 6:02 pm

Re: TD Ameritrade Reviews?

Post by learning_head » Mon Aug 26, 2013 5:33 pm

They had offered RYPQX enhanced cash account to keep your sweep cash and directed their clients towards it including via cold calls, etc. You can google what happened but basically, when it blew up, they refused to cover the costs for any of their clients they suckered into this nonsense (99% of accounts in this sham was only TDAmeritrade clients, not other brokerage clients, due to some shady deals with the Reserve company (the one that broke the buck)).

Also I know someone who had received a corrected tax statement from them beginning of April once. Only by luck he had not sent out his taxes yet and thus did not have to resend ammended returns.

Best of luck

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