Ameritrade Is An Excellent Online Trading Platform
Pricing
If you want to open up an Ameritrade account you have to make an initial minimum deposit of $500. From there each trade is $9.99 for stock trades, and $9.99 per trade plus $.75 per contract for options trades. Apart from those fees there are no other fees or charges associated with an Ameritrade account. All the company research is free, all the data is free, and all the trading platforms free. This pricing strategy is the main reason that Ameritrade has survived so long at the top of the online trading game. Ameritrade are keen on a number of different promotions to entice people to sign up for an account. Depending on how much you initially seed your account with you may qualify for free trades for the first 60 days of your And up to $600 free. In those first 50 days you can make up to 500 commission free trades, which is way more than I recommend you do. Though these promotions are an excellent idea and free trades allow you to get involved with the stock market straightaway, making too many trades early on his boat is likely to lose you money and warp your idea of how the stock market works. Ideally you should have to make as few trades as possible to make money, choosing stocks wisely and then sticking with them as they increase in price. Though the minimum deposit amount is $500, understandably you will not get a $600 cash bonus if that is all you put in your account. If you deposit $25,000 in assets you will get a $100 bonus, a $300 bonus for $100,000, and the full $600 bonus for $250,000 in assets in your account. This may seem like an expensive way to make $600.Their research and advice really sets Ameritrade apart from the competition, particularly as a large amount of it is free for account holders. Individual stock research reports are free for account holders and you can pay an additional $9.99 per month for more advanced reports about the overall market situation. An investment adviser is available to speak to for account holders about their portfolios and Barron’s has given Ameritrade a four-star rating, which is the maximum, in-person service.
Features
Ameritrade’s analysis software is free for account users and includes screener alerts and much more. In addition, Ameritrade gives regular account holders access to their premium platforms for which most of their competitors either charge a fee or expect a minimum trade volume. SmartMoney has given Ameritrade a five-star rating for its trading tools, and investors business daily rates Ameritrade number one for its mobile trading platform. Along with the trading platform and research you also get access to raw data on the market and positions. Account holders get free access to level II quotes which include not just the most recent price for the stock but also volume allowing you to make much wiser decisions about your purchases. There is also access to streaming news about the market, companies, and individual stocks. As suggested, there is a mobile app available for both iPhone and android phones. Ameritrade prides itself on its customer service, and this is available 24/7 over the phone, web, or email. Ameritrade also has over 100 actual locations around the United States so you can go and talk to investment advisers in-person and get their take on your portfolio.Ameritrade trades over 100 commission free ETFs as well as stocks, bonds, mutual funds, futures, options, and foreign currencies.
Conclusion
Ameritrade compares very favourably to its competition, particularly in terms of its customer service and its account features which are often available for free where competitor would charge. It’s pricing point per trade is very similar to most discount brokers and there you will be able to find cheaper, you will not be held to find the same level of service and quality at these cheaper brokerage firms. This is why you should strongly consider an Ameritrade account if you are starting in online trading. There you will pay slightly more per trade they might elsewhere, you’re paying premium tools, quality research, and the best customer service so you will be in a much better position to make much better trades.
