#780 - Is TD Ameritrade Good?
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Hey everyone. This is Kirk here again from Option Alpha and welcome back to the daily call. Today, we’re going to answer the question, “Is TD Ameritrade good?” Truth be told, I actually get this question a lot. It comes from a lot of our members and subscribers here at Option Alpha and they always ask me, “Hey, look. I know you use TD Ameritrade, but is TD Ameritrade good to use?” And my answer is always the same, is I think that they’re one of the better brokers out there. I think that there’s no perfect broker. There’s no broker that does everything that I would want. Probably no broker that does everything you would want for the same price. But I think for the offering that they have in totality, I think it’s really good. I think for me, one of the big concerns is things like risk management, an FDIC insurance, an SPIC insurance and I think that TD Ameritrade does a good job of not only those, but then also layers in Lloyd’s of London insurance for portfolios which is something that most people don’t even think about. But I also think that their technology is pretty good. They acquire Thinkorswim which I daresay I was one of the first customers or first handful of customers of Thinkorswim way back in the day before it was acquired and I still love the platform today, but one of the downsides to TD Ameritrade is they really haven’t done a lot of technology innovation in the last say 15 years. Thinkorswim was probably the biggest acquisition that they made and it was a great acquisition, but they really haven’t evolved the platform dramatically beyond that stage. It’s still very much the same platform that it was back in the day as it is today. Does this mean that it’s a bad broker? No. Not at all. I think they’re a great broker. I’ve always had good customer service with them. They’re very reliable. They’re always there. They’re always fixing problems if bugs come up. And so, I think it’s definitely worth a shot looking into. Are they perfect? No. I think that there’s ever a broker who can improve and there’s obviously cheaper brokers out there, but you pay for what you get in my opinion with the commissions in cheap brokers. Hopefully this helps out. As always, if you guys have any questions, let me know and until next time, happy trading.
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