TD Ameritrade Money Market Options

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WesternRoad
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TD Ameritrade Money Market Options

Post by WesternRoad » Thu Jan 10, 2019 4:37 pm

Vanguard Prime Money Market Fund (VMMXX) sounds good for safe investment at a current yield of 2.4-plus and low expenses. However, at TD Ameritrade, the commission fee seems around $50 for every trade of a no-load fund. I've tried (as something of a novice) to find a non-fee money market fund with similar yield on TDA's NTF mutual fund list, but it is pretty difficult to navigate, for me at least. Does anyone know of an NTF money market fund at TDA with a decent current yield? Thanks and best wishes. . . .

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whodidntante
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Re: TD Ameritrade Money Market Options

Post by whodidntante » Thu Jan 10, 2019 5:39 pm

Welcome to the forum.

BIL, FLRN, USFR, and JPST are all reasonable commission free options if you don't mind ETFs. They are not MMFs, but ultrashort bond funds. I don't think TDA is a good brokerage if you are going to transact in MMFs.

livesoft
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Re: TD Ameritrade Money Market Options

Post by livesoft » Thu Jan 10, 2019 5:41 pm

WesternRoad wrote:
Thu Jan 10, 2019 4:37 pm
Vanguard Prime Money Market Fund (VMMXX) sounds good for safe investment at a current yield of 2.4-plus and low expenses. However, at TD Ameritrade, the commission fee seems around $50 for every trade of a no-load fund. I've tried (as something of a novice) to find a non-fee money market fund with similar yield on TDA's NTF mutual fund list, but it is pretty difficult to navigate, for me at least. Does anyone know of an NTF money market fund at TDA with a decent current yield? Thanks and best wishes. . . .
Are you already a TDAmeritrade client? Why not call them up and ask them (bypass their web site)?
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neilpilot
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Re: TD Ameritrade Money Market Options

Post by neilpilot » Thu Jan 10, 2019 5:42 pm

My accounts were with Scottrade before they were acquired by TDA. If you happen to also be a former Scottrade customer, TDA should grandfather you at the former Scottrade mutual fund commission of $17/trade.

slippingsloth
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Re: TD Ameritrade Money Market Options

Post by slippingsloth » Fri Jan 11, 2019 12:15 am

Agree TDA does not make it easy to find NTF money market options. Can’t sort or filter by that type of fund for my guess the cynical reason to keep people in the poor sweep fund

Topic Author
WesternRoad
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Re: TD Ameritrade Money Market Options

Post by WesternRoad » Sun Jan 13, 2019 9:36 pm

Thank you all for the good advice.

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Mon Jan 14, 2019 10:50 pm

I find the following money market funds as no load & NTF.

Here is how I found these. Go to Mutual Fund ==> Family ==> Money Market from research tab after logging in.

After sorting yield (descending order), Move cursor over ticker symbol. It will show No load, NTF along with quote.

Federated Institutional Prime Value Obligations Fund Institutional Shares PVOXX EXP 0.49% 7 Day Yield 2.54%

MONEY MKT OBLIGS TR PRIME CASH INS PCOXX Exp 0.33% 7 Day Yield 2.47%

MONEY MKT OBLIGS TR FED PRMVAL OBLCP PVCXX Exp 0.74% 7 Day Yield 2.44%

MONEY MKT OBLIGS TR FED PRMCA OBLCAP PCCXX Exp 0.58% 7 Day Yield 2.37%

MONEY MKT OBLIGS TR FED PRMVAL OBLSV PVSXX Exp 0.74% 7 Day Yield 2.29%

MONEY MKT OBLIGS TR FED PRM CA OBLSV PRCXX Exp 0.58% 7 Day Yield 2.22%

Are these MM worth looking ?

Thanks for sharing.

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whodidntante
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Re: TD Ameritrade Money Market Options

Post by whodidntante » Mon Jan 14, 2019 11:39 pm

RIMDBogle wrote:
Mon Jan 14, 2019 10:50 pm
Federated Institutional Prime Value Obligations Fund Institutional Shares PVOXX EXP 0.49% 7 Day Yield 2.54%

MONEY MKT OBLIGS TR PRIME CASH INS PCOXX Exp 0.33% 7 Day Yield 2.47%

MONEY MKT OBLIGS TR FED PRMVAL OBLCP PVCXX Exp 0.74% 7 Day Yield 2.44%

MONEY MKT OBLIGS TR FED PRMCA OBLCAP PCCXX Exp 0.58% 7 Day Yield 2.37%

MONEY MKT OBLIGS TR FED PRMVAL OBLSV PVSXX Exp 0.74% 7 Day Yield 2.29%

MONEY MKT OBLIGS TR FED PRM CA OBLSV PRCXX Exp 0.58% 7 Day Yield 2.22%

Are these MM worth looking ?
I see a minimum investment of 500 grand. But why buy one, when you can buy two for twice the price?

CRTR
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Re: TD Ameritrade Money Market Options

Post by CRTR » Wed Jan 16, 2019 1:34 pm

Saw this post and thought I'd see if I could help. I sent an email, requesting a list of NTF Money Market mutual funds because I was unable to find that info on their site. For fun I checked Etrade, Schwab and Vanguard. I easily completed the search online with Etrade. Couldn't do it with either Schwab or Vanguard screeners. I called customer service for both firms, and they offered to email me a link/list the same day.

I had a couple accounts at TDAmeritrade some years back but moved them due to terrible customer service. I still have my HSA there. I guess I wasn't surprised by their response . . . . some things just don't change . . .

"Hello XXXX,

Thank you for your e-mail. As it is not a website capability to search for Money Market funds that are also No Transaction Fees, we will not be able to provide a list as there are 300+ funds. We can do this research for you but there is a research fee of $60 per hour of research.

Let us know if you would like us to do this for you.

If you have any further questions, please do not hesitate to contact us via secure email, or call toll-free at 866-766-4015, Monday through Friday, 8am to 7pm Eastern Standard Time (excluding market holidays).

As always, we greatly appreciate your business and thank you for choosing TD Ameritrade.


Thank you,

XXXXXXXXXX
Inst. SDPS Trading, WMS Participant Services"
Last edited by CRTR on Wed Jan 16, 2019 1:44 pm, edited 1 time in total.

livesoft
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Re: TD Ameritrade Money Market Options

Post by livesoft » Wed Jan 16, 2019 1:38 pm

I suppose we could do this research for you. First, I would just find on the web ALL the MM funds paying over 2%. There must be a list somewhere. Then I would eliminate some that would not be NTF at TDAmeritrade such as all the Vanguard ones, the Fidelity ones, ....

Then I would just start at the top and try to buy what you wanted which would tell you if it was NTF and see if it work
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gclancer
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Re: TD Ameritrade Money Market Options

Post by gclancer » Wed Jan 16, 2019 1:39 pm

The answer is NPLXX - there is a $2,500 minimum. It is the lowest minimum NTF MM Fund that TD offers.

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whodidntante
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Re: TD Ameritrade Money Market Options

Post by whodidntante » Wed Jan 16, 2019 1:40 pm

gclancer wrote:
Wed Jan 16, 2019 1:39 pm
The answer is NPLXX - there is a $2,500 minimum. It is the lowest minimum NTF MM Fund that TD offers.
You should bill TDA customer service for your research fee.

livesoft
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Re: TD Ameritrade Money Market Options

Post by livesoft » Wed Jan 16, 2019 1:47 pm

NPLXX may not exist anymore. :)
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gclancer
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Re: TD Ameritrade Money Market Options

Post by gclancer » Wed Jan 16, 2019 1:50 pm

livesoft wrote:
Wed Jan 16, 2019 1:47 pm
NPLXX may not exist anymore. :)
You get what you pay for! My research is six months old or so.

FoolMeOnce
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Re: TD Ameritrade Money Market Options

Post by FoolMeOnce » Wed Jan 16, 2019 1:51 pm

If you have enough assets there, you can get put with the Private Client Services and have access to some MM funds just under 2% that work as your sweep account.

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Vegomatic
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Re: TD Ameritrade Money Market Options

Post by Vegomatic » Wed Jan 16, 2019 10:01 pm

SoundMoneyInvesting, by Joseph Slife [https://soundmindinvesting.com/about-sm ... seph-slife]

It’s Complicated (in Some Cases): Finding a Suitable Money-Market Fund [UPDATED], 10-08-2018
https://soundmindinvesting.com/articles ... arket-fund

In section beginning in the middle of the page [Slogging through TD Ameritrade's MMF data], suggests that PCOXX might qualify.

And, FWIW, Morningstar notes it's availability at [TD Ameritrade NTF]. See below.
http://financials.morningstar.com/fund/ ... ountry=usa

You can use the Mutual Fund Screener (see below) at Federated to find Tax Exempt money market funds (by eye, look for "XX" in symbol.)
One of these - for example - is MOFXX, which is listed by M* as a NTF fund, here:
http://financials.morningstar.com/fund/ ... ture=en-US

Maybe it also 'works' @ TD?

Federated Mutual Fund Screener
https://www.federatedinvestors.com/products.do

Check [Liquidity] in [Asset Class] drop-down box
AND
Check [Municipal/Tax Free] in [Category] drop-down box
THEN
Press the [APPLY FILTERS] button at right

You get 9 Federated Tax Exempt MM funds, listed below. Perhaps these are also NTF and 'reasonable' @ TD?

Code: Select all

CALXX	California Municipal Cash Trust	
GAMXX	Georgia Municipal Cash Trust	
FTFXX	Institutional Tax-Free Cash Trust	
MAWXX	Massachusetts Municipal Cash Trust	
MOFXX	Municipal Obligations Fund	
NISXX	New York Municipal Cash Trust	
PAMXX	Pennsylvania Municipal Cash Trust	
TBIXX	Tax-Free Obligations Fund	
VCSXX	Virginia Municipal Cash Trust
Similarly, you can play around with the filter (using only the [Asset Class] drop down box, = Liquidity) to get a list that includes the "regular" non-tax exempt MM funds. A USTreasury MM fund is TOIXX.

http://financials.morningstar.com/fund/ ... ture=en-US
https://www.federatedinvestors.com/prod ... ions/is.do

RE: RIMDBogle's question (below)

A "good money fund" - that would be (I think) one with a reasonable / low expense ratio, no associated fees to buy or sell on the TD (in this case) platform, no ridiculous minimum investment, and portfolio that doesn't look "too risky" (compared say, with money funds at Fidelity, TRPrice, or VG).

For fees and minimums, sounds like you will simply have to try and see, and or (?) speak with TD (unsure).

Use the Morningstar portfolio and risk tools to do comparisons for portfolio info.

Sample link for MOFXX, below (change symbol in link to check out others):

http://portfolios.morningstar.com/fund/summary?t=mofxx

as well as checking out the issuer's (in this case, Federated) website for particular fund:

https://www.federatedinvestors.com/prod ... ions/ws.do
Last edited by Vegomatic on Tue Jan 22, 2019 2:18 pm, edited 4 times in total.

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Fri Jan 18, 2019 10:16 pm

Thanks for posting the list. I did see thru TD site. It is hard to find.

How do we separate good vs bad money market fund?

What are the items throw as red flag?

Are there away to look under the hood assets of Money Market?

Thanks for sharing.

SandysDad
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Re: TD Ameritrade Money Market Options

Post by SandysDad » Fri Jan 18, 2019 10:28 pm

I spent some time with td on this exact issue recently due to large cash flows inbound.

Net result: it’s clear that td does not care or want customers who want or need money market sweep accounts or low cost funds.

These folks are focusing on persons who want to trade a lot and generate commissions and margin interest

Unlike vanguard fidelity scwab etc they have no in house money market or low cost fund options.

I have about had it with them. The only thing keeping me from closing my account is my fear the new account holder will lose my basis info


Anyone transfer their account and have all their basis I do intact?

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Fri Jan 25, 2019 11:28 pm

Thanks for your replies. I am able to find the following MM from TDA as NTF with no minimum.

GOIXX FEDERATED GOVERNMENT OBLIGATIONS Yield 2.02%
GOFXX FEDERATED GOVERNMENT OBLIGATIONS Yield 2.06%
PVCXX FEDERATED INSTITUTIONAL PRIME VALUE OBLIGATIONS Yield 2.18%
PVOXX FEDERATED INSTITUTIONAL PRIME VALUE OBLIGATIONS Yield 2.28%
PVSXX FEDERATED INSTITUTIONAL PRIME VALUE Yield 2.03%
PCCXX FEDERATED PRIME CASH OBLIGATIONS CAPITAL Yield 2.11%
PCOXX FEDERATED PRIME CASH OBLIGATIONS WEALTH WEALTH Yield 2.21%
TOIXX FEDERATED TREASURY OBLIGATIONS Yield 2.06%
TTOXX FEDERATED TRUST FOR U.S. TREASURY OBLIGATIONS Yield 2.03%
UTIXX FEDERATED U.S. TREASURY CASH RESERVES Yield 2.00%


What are the criteria to use for picking from above list?

How do we separate low risk/high risk from above list ?

Thanks for sharing.

shess
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Re: TD Ameritrade Money Market Options

Post by shess » Sat Jan 26, 2019 12:46 am

WesternRoad wrote:
Thu Jan 10, 2019 4:37 pm
Vanguard Prime Money Market Fund (VMMXX) sounds good for safe investment at a current yield of 2.4-plus and low expenses. However, at TD Ameritrade, the commission fee seems around $50 for every trade of a no-load fund. I've tried (as something of a novice) to find a non-fee money market fund with similar yield on TDA's NTF mutual fund list, but it is pretty difficult to navigate, for me at least. Does anyone know of an NTF money market fund at TDA with a decent current yield? Thanks and best wishes. . . .
I know this isn't what you asked, but it was this basic question which caused me to move to Vanguard. I wanted to get some Vanguard funds, but TD Ameritrade wanted to charge me an absurd commission, so I looked at Vanguard's commission schedule, looked at my past few years of trades, and moved most of my assets to Vanguard because it was cheaper. I left a few positions which I intend to not touch with TD Ameritrade, because I'm a romantic that way...

EnjoyIt
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Re: TD Ameritrade Money Market Options

Post by EnjoyIt » Sat Jan 26, 2019 7:56 am

SandysDad wrote:
Fri Jan 18, 2019 10:28 pm

Anyone transfer their account and have all their basis I do intact?
I know a few people including myself who have moved money out of TDA keeping the cost basis intact.

cashmoney
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Re: TD Ameritrade Money Market Options

Post by cashmoney » Sat Jan 26, 2019 11:10 am

whodidntante wrote:
Mon Jan 14, 2019 11:39 pm
RIMDBogle wrote:
Mon Jan 14, 2019 10:50 pm
Federated Institutional Prime Value Obligations Fund Institutional Shares PVOXX EXP 0.49% 7 Day Yield 2.54%

MONEY MKT OBLIGS TR PRIME CASH INS PCOXX Exp 0.33% 7 Day Yield 2.47%

MONEY MKT OBLIGS TR FED PRMVAL OBLCP PVCXX Exp 0.74% 7 Day Yield 2.44%

MONEY MKT OBLIGS TR FED PRMCA OBLCAP PCCXX Exp 0.58% 7 Day Yield 2.37%

MONEY MKT OBLIGS TR FED PRMVAL OBLSV PVSXX Exp 0.74% 7 Day Yield 2.29%

MONEY MKT OBLIGS TR FED PRM CA OBLSV PRCXX Exp 0.58% 7 Day Yield 2.22%

Are these MM worth looking ?
I see a minimum investment of 500 grand. But why buy one, when you can buy two for twice the price?


I see the 500k minumum on the Morningstar website for PCOXX but within my Ameritrade account ( not a Private Client) it says no minimum? There is a 49.00 fee for holding less than 6 months though.I spoke to an Ameritrade rep last week to help me find a better place to park my cash with no fees and he couldnt help me find anything paying more than .4 %



from my Ameritrade account trading page:

"All no-transaction fee (NTF) funds (except ProFunds, Rydex, and Direxion) held 180 days or less are subject to a short-term redemption fee of $49.99. This fee is in addition to any applicable transaction fees or fees addressed in the fund's prospectus."

Matt Y.
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Re: TD Ameritrade Money Market Options

Post by Matt Y. » Sat Jan 26, 2019 12:58 pm

I was faced with this same issue a few months ago and concluded the following:
  • The closest exposure to VMFXX (Vanguard Federal Money Market Fund) at TD Ameritrade NTF is BIL (SPDR® Bloomberg Barclays 1-3 Month T-Bill ETF Ultrashort Bond)
  • The closest to VGSH (Vanguard Short-Term Treasury ETF) is SPTS (SPDR® Portfolio Short Term Treasury ETF Short Government)
  • I would prefer to have this account at Vanguard but cannot move it since Vanguard does not offer custodianship for HSAs

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Mon Jan 28, 2019 9:57 pm

I am hearing that TDA offer a number of Federated Funds that pay very competitive rates to clients. There are no holding restrictions for those.

Anyone from this forum get this?

Thanks for sharing.

FoolMeOnce
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Re: TD Ameritrade Money Market Options

Post by FoolMeOnce » Mon Jan 28, 2019 11:37 pm

RIMDBogle wrote:
Mon Jan 28, 2019 9:57 pm
I am hearing that TDA offer a number of Federated Funds that pay very competitive rates to clients. There are no holding restrictions for those.

Anyone from this forum get this?

Thanks for sharing.
Yes, I have PCOXX as my cash sweep vehicle. You need enough assets at TDA (I think $1m) to have access to this as a sweep vehicle.

libralibra
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Re: TD Ameritrade Money Market Options

Post by libralibra » Tue Jan 29, 2019 3:58 pm

post removed
Last edited by libralibra on Wed May 29, 2019 11:04 pm, edited 1 time in total.

FoolMeOnce
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Re: TD Ameritrade Money Market Options

Post by FoolMeOnce » Tue Jan 29, 2019 4:13 pm

libralibra wrote:
Tue Jan 29, 2019 3:58 pm
FoolMeOnce wrote:
Mon Jan 28, 2019 11:37 pm
RIMDBogle wrote:
Mon Jan 28, 2019 9:57 pm
I am hearing that TDA offer a number of Federated Funds that pay very competitive rates to clients. There are no holding restrictions for those.

Anyone from this forum get this?

Thanks for sharing.
Yes, I have PCOXX as my cash sweep vehicle. You need enough assets at TDA (I think $1m) to have access to this as a sweep vehicle.
Do you mean PTTXX? I called before and that's what they told me.
I was given a list of options (over the phone). Did not know how to distinguish them, just picked the one with the highest yield at the time, which was PCOXX.

libralibra
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Re: TD Ameritrade Money Market Options

Post by libralibra » Tue Jan 29, 2019 9:28 pm

post removed
Last edited by libralibra on Mon May 27, 2019 11:13 pm, edited 1 time in total.

FoolMeOnce
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Re: TD Ameritrade Money Market Options

Post by FoolMeOnce » Tue Jan 29, 2019 10:14 pm

libralibra wrote:
Tue Jan 29, 2019 9:28 pm
FoolMeOnce wrote:
Tue Jan 29, 2019 4:13 pm
libralibra wrote:
Tue Jan 29, 2019 3:58 pm
FoolMeOnce wrote:
Mon Jan 28, 2019 11:37 pm
RIMDBogle wrote:
Mon Jan 28, 2019 9:57 pm
I am hearing that TDA offer a number of Federated Funds that pay very competitive rates to clients. There are no holding restrictions for those.

Anyone from this forum get this?

Thanks for sharing.
Yes, I have PCOXX as my cash sweep vehicle. You need enough assets at TDA (I think $1m) to have access to this as a sweep vehicle.
Do you mean PTTXX? I called before and that's what they told me.
I was given a list of options (over the phone). Did not know how to distinguish them, just picked the one with the highest yield at the time, which was PCOXX.
Thanks, next time you are in your account, can you check what it says on your Profile->General page under Cash Sweep? It says FI202 for me which I believe is PTTXX.

The current yield for PTTXX is 2.0% and for PCOXX it's 2.5%. From looking at the prospectus this is because the ER is .70% vs .20% (they are different classes of the same fund). I will call and ask again if indeed you were able to use PCOXX as your sweep.
Mine says F1202 also. It says this is "FEDERATED INVESTMENTS FEDERATED PRIME CASH OBLIG FND."

If I go to My Account->Positions and click on "view rate schedule" next to this fund, it takes me to a Federated Investors site that lists 77 funds. The only one called Prime Cash Obligations is PCOXX.

Of course, googling "FEDERATED INVESTMENTS FEDERATED PRIME CASH OBLIG FND" also hits a page on Federated Investors website for a fund with the ticker PRCXX. But that does not appear on the list of 77 funds, so maybe it is a legacy page.

TDA does not make this easy.

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Tue Jan 29, 2019 11:25 pm

Thanks for your insights.

I did see
TD Ameritrade FDIC INSURED DEPOSIT ACCOUNT, NOT COVERED BY SIPC
in my account after logging in. How do I get Federated Funds in lieu of above sweep account ?

Thanks for sharing.

libralibra
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Re: TD Ameritrade Money Market Options

Post by libralibra » Wed Jan 30, 2019 12:08 am

post removed
Last edited by libralibra on Mon May 27, 2019 11:13 pm, edited 1 time in total.

dcart
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Re: TD Ameritrade Money Market Options

Post by dcart » Wed Jan 30, 2019 12:59 am

Trying to find NTF MM at TD is a waist of time. I really tried but after few emails and calls I got too upset and just switched to Fidelity, where MMs are listed in the screener so it takes 10 seconds to locate them.

GrowthSeeker
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Re: TD Ameritrade Money Market Options

Post by GrowthSeeker » Wed Jan 30, 2019 5:10 am

SandysDad wrote:
Fri Jan 18, 2019 10:28 pm
I spent some time with td on this exact issue recently due to large cash flows inbound.

Net result: it’s clear that td does not care or want customers who want or need money market sweep accounts or low cost funds.

These folks are focusing on persons who want to trade a lot and generate commissions and margin interest

Unlike vanguard fidelity scwab etc they have no in house money market or low cost fund options.

I have about had it with them. The only thing keeping me from closing my account is my fear the new account holder will lose my basis info


Anyone transfer their account and have all their basis I do intact?
I have an IRAs at TDA, Fidelity and VG. I've been thinking about consolidating and moving the TDA one. This thread has just about convinced me to do it.
Regarding the cost basis issue, I've moved accounts from other sources (not TDA) and had basis information transfer just fine, although with some delay, e.g. a few days.

But I also had to deal with stepped up basis on an inheritance brokerage account. The brokerage kept the basis the same; there was no automatic updating of the basis based on the date of death. Once I calculated the correct basis of each holding, the broker manually changed the basis for each holding in their system. So this suggests that even if TDA does not transfer the basis info, as long as you have it backed up, the new brokerage should be able to fix it.
Just because you're paranoid doesn't mean they're NOT out to get you.

neilpilot
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Re: TD Ameritrade Money Market Options

Post by neilpilot » Wed Jan 30, 2019 3:29 pm

RIMDBogle wrote:
Tue Jan 29, 2019 11:25 pm
Thanks for your insights.

I did see
TD Ameritrade FDIC INSURED DEPOSIT ACCOUNT, NOT COVERED BY SIPC
in my account after logging in. How do I get Federated Funds in lieu of above sweep account ?

Thanks for sharing.
Thanks to what I read in this thread, I just visited the local TDA office. After a brief visit, I changed all 5 accounts to sweep into PTTXX.

I was told that this is a relatively new (a matter of weeks) program, and as of yet the sweep can't be setup without customer service assistance. This cannot be done (yet) using their online tools.

cashmoney
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Re: TD Ameritrade Money Market Options

Post by cashmoney » Wed Jan 30, 2019 7:27 pm

neilpilot wrote:
Wed Jan 30, 2019 3:29 pm
RIMDBogle wrote:
Tue Jan 29, 2019 11:25 pm
Thanks for your insights.

I did see
TD Ameritrade FDIC INSURED DEPOSIT ACCOUNT, NOT COVERED BY SIPC
in my account after logging in. How do I get Federated Funds in lieu of above sweep account ?

Thanks for sharing.
Thanks to what I read in this thread, I just visited the local TDA office. After a brief visit, I changed all 5 accounts to sweep into PTTXX.

I was told that this is a relatively new (a matter of weeks) program, and as of yet the sweep can't be setup without customer service assistance. This cannot be done (yet) using their online tools.


showing a 500k minimum?

neilpilot
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Location: Memphis area

Re: TD Ameritrade Money Market Options

Post by neilpilot » Wed Jan 30, 2019 10:01 pm

cashmoney wrote:
Wed Jan 30, 2019 7:27 pm
neilpilot wrote:
Wed Jan 30, 2019 3:29 pm

Thanks to what I read in this thread, I just visited the local TDA office. After a brief visit, I changed all 5 accounts to sweep into PTTXX.

I was told that this is a relatively new (a matter of weeks) program, and as of yet the sweep can't be setup without customer service assistance. This cannot be done (yet) using their online tools.


showing a 500k minimum?
Not all of the 5 account, but in total yes,

RIMDBogle
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Tue Feb 05, 2019 9:17 pm

How does PTTXX compare with following ?

MONEY MKT OBLIGS TR PRIME CASH INS PCOXX Exp 0.33% 7 Day Yield 2.47%

MONEY MKT OBLIGS TR FED PRMVAL OBLCP PVCXX Exp 0.74% 7 Day Yield 2.44%

MONEY MKT OBLIGS TR FED PRMCA OBLCAP PCCXX Exp 0.58% 7 Day Yield 2.37%

MONEY MKT OBLIGS TR FED PRM CA OBLSV PRCXX Exp 0.58% 7 Day Yield 2.22%


I find the above as NTF in TDA .

Thanks for sharing.

RIMDBogle
Posts: 136
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Re: TD Ameritrade Money Market Options

Post by RIMDBogle » Tue Feb 12, 2019 10:54 pm

Bump up !

rasta
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Re: TD Ameritrade Money Market Options

Post by rasta » Thu Feb 14, 2019 5:07 pm

options vary based on the $ amount of assets you hold with td.

as pvt client the 2 best options, out of eight, i was offered were:
GORXX or PTTXX.

as other have stated you MUST call and have this set-up through a rep, DO NOT "buy" these online, otherwise they
will be processed as a mutual fund purchase and will not function as a cash sweep.

btenny
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Re: TD Ameritrade Money Market Options

Post by btenny » Thu Feb 14, 2019 6:43 pm

I just checked my stuff at TDA. I get daily interest. I got 2.26% for January 1st and then the rate gradually went down to 2.16% for the last day of January. Not sure what fund I have but it is not FDIC insured. It is some sort of Federated Money market fund.

I also have another account at TDA that has a FDIC insured cash sweep account. It earned 0.12% for the month. I also keep an account at Wells Fargo that pays 0.25% and is FDIC insured. These accounts are money that I keep for yearly spending and emergencies so I want maximum security.

I also keep money in VMLUX, Vanguard Limited Term Muni. It is very low risk and almost as stable as a money market fund. It pays 1.89% tax free.

SO the major difference I see is the FDIC insurance and taxable vs tax free.

Good Luck.

Droptoptop
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Re: TD Ameritrade Money Market Options

Post by Droptoptop » Mon Feb 18, 2019 2:50 pm

I've just gone through this myself and due to the 180 day minimum hold period for NTF funds at TD Ameritrade, I discounted mutual funds as a good cash management option and chose the ETF BIL. It's a commission free ETF so you just have to hold it for 30 days and then you can sell as you wish for free to meet any liquidity needs you have. Enroll in DRIP and your interest is reinvested and the DRIP purchases don't count toward the 30 day minimum hold period. As of today the 30 day SEC yield is 2.2% which I believe is competitive with the all Treasury bill Vanguard mmf.

I want to combine my banking with my stock account though with TD Ameritrade's cash management feature that gives you ATM and check writing from your brokerage account, so the posts up above about using PCOXX as an automatic cash sweep option sounds better. This way if I write a check I don't have to sell BIL first to fund it. I assume with PCOXX as the sweep TDA redeems for you seamlessly as you withdraw cash from the ATM or write a check?

flight
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Re: TD Ameritrade Money Market Options

Post by flight » Mon Feb 18, 2019 10:00 pm

I've talked to my local TD Ameritrade branch about money market options.

While I don't qualify for using MMMFs using automatic sweep, you can use them on a purchased basis (which I think is similar to what Schwab does).

But here is the good news (which I don't think has been mentioned here). According to my branch contact, Federated MMMFs have no short term redemption fee or minimum investment (despite what is displayed on the mutual fund screener).

I'm in PCOXX currently and previously PTTXX. PVOXX (yields a few bps higher, I believe) is also an option but I've never tried. I bought PTTXX with a few thousand $'s and two days later exchanged into PCOXX, no short term redemption fee was assessed.

My understanding through my conversation with the branch is Ameritrade has a relationship with Federated for MMMFs, and thus no redemption fee or minimums are assessed.

This has been my experience and would think it applies to others - again as I don't meet the threshold for MMMF automatic sweeps.

Droptoptop
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Re: TD Ameritrade Money Market Options

Post by Droptoptop » Wed Feb 20, 2019 12:57 am

I talked to a TD Ameritrade phone rep on the trade desk today, and after he put me on hold and confirmed with someone else at TDA, this is the info I got which mostly conforms with what some of the others in the thread have already said. If you have a TD Ameritrade account, do read this because this is good news that will make you money!

-TDA has a new program that is not advertised or listed on their website yet: You can buy PCOXX which is Federated Prime Cash Obligations Fund Wealth Shares that has a current SEC 7 day yield of 2.50% with no minimum purchase (normally it's $500k), no transaction fee, no load, and no minimum hold period. If you login and look up PCOXX, the TDA website shows no minimum purchase amount, NTF and NL, but still shows the $49 penalty if held less than 180 days, so it seems the website hasn't been updated to reflect all the latest changes, but the rep definitely said you can buy and sell just $1 if you want and there's no minimum hold period. Also the above is available to all account holders regardless of your assets held at TDA. This is great as TD now has an equivalent of VMMXX that Vanguard account holders have free access to as a safe high yielding cash management tool.

-I asked and the rep double checked that PCOXX is not available as an automatical cash sweep vehicle, regardless of your assets. Foolmeonce up above said he has PCOXX as a sweep vehicle, but it seems he is mistaken.

-PVOXX is Federated Institutional Prime Value Obligations Fund Institutional Shares and has a slightly higher SEC 7 day yield of 2.57%. It's listed on the TDA website as being NL, NTF, and no minimum purchase amount. I didn't realize this existed until after my phone call with the rep, so I will call tomorrow to check if this also is exempt from the 180 min hold period. PVOXX and PCOXX both have a 0.20% expense ratio, so I'm not sure how PVOXX gets 7 extra basis points in yield, but assuming it's assuming only de minimus extra risk, PVOXX seems to be the better pick over PCOXX at TDA.

-The rep did say for household assets across all your accounts greater than $1mln at TDA, GORXX which is Federated Government Obligations Fund Trust Shares and has a current SEC 7 day yield of 1.77%, is available as a cash sweep vehicle .

-He didn't offer me PTTXX which is Federated Prime Cash Obligations Fund Trust Shares (SEC 7 day yield of 2.0%) which some others up above said were offered them as a cash sweep vehicle, so I will call them back tomorrow to ask.

-In summary, it seems the optimal solution is to get check writing and an ATM card for your TD Ameritrade investment account so you can hold all your cash for paying bills and all your investments in one account. Then get PTTXX, or failing that GORXX, as a cash sweep vehicle, and hold however much you need for paying bills, writing checks, and ATM withdrawals in your account as liquid cash that is swept, and with the rest of your longer term cash, buy PVOXX, or failing that PCOXX. This way literally every dollar you own (except for the bills in your physical wallet) will be yielding the highest amount possible at every given moment : )

Thoughts anyone?

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ohboy!
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Re: TD Ameritrade Money Market Options

Post by ohboy! » Wed Feb 20, 2019 2:24 am

If I can get 2.5% liquid at TDA I am more enticed to move more money there. At the end of the day that’s the only game financial institutions have left - store your 1s and 0s.

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ohboy!
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Re: TD Ameritrade Money Market Options

Post by ohboy! » Wed Feb 20, 2019 2:28 am

“You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.”

Wouldn’t CIT bank high yield savings with FDIC be safer?

FoolMeOnce
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Re: TD Ameritrade Money Market Options

Post by FoolMeOnce » Wed Feb 20, 2019 3:28 pm

Droptoptop wrote:
Wed Feb 20, 2019 12:57 am
-I asked and the rep double checked that PCOXX is not available as an automatical cash sweep vehicle, regardless of your assets. Foolmeonce up above said he has PCOXX as a sweep vehicle, but it seems he is mistaken.
Correct, I was mistaken. I called today and confirmed my cash sweep is PTTXX, and my January statement shows yields consistent with that fund (~2%).

It is silly that the page TD links to for yields displaying 77 funds does not include PTTXX and does include PCOXX with the exact same name "Prime Cash Obligations Fund."

From their fact sheets, it looks like they are different share classes of the same fund, "Trust Shares" (PTTXX) v. "Wealth Shares" (PCOXX).

btenny
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Re: TD Ameritrade Money Market Options

Post by btenny » Wed Feb 20, 2019 4:14 pm

I have been working this problem now for two days trying to figure out a more cost effective safe way to handle cash sweeps. I have money at TDA and Wells. I have the PTAXX fund on one of my TDA accounts. It paid me 2.2% or so for January. It is not FDIC insured. My other accounts use a lower yielding cash sweep vehicle that is FDIC insured.

BUT I am not very happy after reviewing the PTAXX fund holdings. If you look up the types of things this fund owns you see lots of funny notes and bonds with long due dates but options for payments and so forth. I tried but found it impossible to understand what the fund owns. I will be doing more digging but right now I am very nervous about having much money in this fund. I think this fund could fold like some money market funds did in 2008 and crash....

Anyone else looked up these funds??????

Droptoptop
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Re: TD Ameritrade Money Market Options

Post by Droptoptop » Fri Feb 22, 2019 3:59 am

PTAXX's holdings seem pretty standard. It's a high yield money market fund, so you're taking on a bit more risk for additional yield. If you want absolute security, buy Treasury bill only fund or better yet, buy T-bills themselves directly. PTAXX, PCOXX, and PTTXX are all share classes of the same fund and the portfolio is currently: 28% ABS, 24% CDs, 14% govt agency REPOs, 13% time deposits, 11% financial company commercial paper, 7% other repos. All are rated AAA and the weighted average maturity is 31 days. I looked at some of the actual holdings and they're mostly vanilla issuers like Mizuho, CIBC, SMBC, TD. For what it is, I don't see much risk here. Since 2008 when money market funds broke the buck, they've put in safeguards since like gates and withdrawal fees to discourage and prevent panics. Events that I could see causing a money market fund like this to break the buck wouldn't happen overnight (unless it's something truly catastrophic like unexpected overnight nuclear war in which case this will be low on the list of my worries) so there should be time to move money out into something safer like T-bills.
Last edited by Droptoptop on Fri Feb 22, 2019 4:07 am, edited 1 time in total.

Droptoptop
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Re: TD Ameritrade Money Market Options

Post by Droptoptop » Fri Feb 22, 2019 4:05 am

cas
ohboy! wrote:
Wed Feb 20, 2019 2:28 am
“You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.”

Wouldn’t CIT bank high yield savings with FDIC be safer?
Technically, yes, but practically there's not much difference in safety. CIT is currently offering 1.85% and PVOXX is offering 2.57%. If I had only $10,000 in cash savings and I was having trouble sleeping at night, then sure I'd forgo the extra $72 a year and go with CIT. But if I recognize the additional risk is de minimis, and I had $1,000,000 in cash, I'd go for PVOXX and take the extra $7,200 a year.

btenny
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Re: TD Ameritrade Money Market Options

Post by btenny » Fri Feb 22, 2019 1:14 pm

I have decided that I am going to add a semi-cash asset class to my allocation for BIL, a short term T-Bill fund that pays about 2% but is ultra safe. I plan to keep my yearly cash needs in this fund. I will buy/sell this fund as needed. I will only keep a little cash in the TDA sweep accounts and stay with the no risk FDIC insured sweep fund. And in my case if I need cash immediately I can do margin for a few days until the BIL trade settles.

If I do this it will get my true cash down to 1.5% from 6% and earn 2% on the other 4.5%. This will increase my portfolio return by .09 % or enough to cover my fund expense ratios.

Good Luck.

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