TD Ameritrade alternative - Best broker to trade stocks commission-free

Last updated: 09.03.2022
Gerry Celaya
Author:
Gerry Celaya
Adviser
CFD & Trading
Experience
> 25 years

It has been a crazy month for stock trading as more and more people jumped on the bandwagon to buy AMC and Gamestop stock. As interest in online brokers continues to rise, many are looking to alternative broker platforms.

Our review wants to help you find the best TD Ameritrade alternative. We won’t just point you in the right direction though – you’ll be taken directly to the source of our latest TD Ameritrade alternative, NextMarkets.

  • What is TD Ameritrade?
  • Why you should look for alternative?
  • What to look for in a TD Ameritrade alternative
  • Our pick for the best TD Ameritrade alternative
  • FAQ

nextmarkets investors

What is TD Ameritrade?

TD Ameritrade is an online brokerage firm that is regulated by some of the most rigorous financial authorities in the industry. The broker itself offers a fantastic trading platform that finds an acute balance between catering to newer traders while still offering some of the best tools for experienced traders to buy and sell in various markets. 

There is a lot to like about the TD Ameritrade trading platform as it offers users an in-depth selection of educational tools that include detailed articles and step by step videos as well. Users will also have access to a number of different markets including Stocks, ETFs, IPOs, mutual funds, bonds, options, futures, forex, cryptocurrencies and annuities. TD Ameritrade has also made the switch to no-commission trading on all stocks, ETF, bonds and options trading. 

It becomes more and more apparent why so many people enjoy using TD Ameritrade  with such a well balanced and diverse trading platform. So, it begs the question, why are people looking to join different platforms?

Why users are looking for TD Ameritrade alternative:

These past few weeks have witnessed a truly unprecedented series of events. Reddit users coordinated a mass purchase of Gamestop and AMC stocks after hearing that these companies were being shorted by big hedge funds. So, as Reddit users continually buy Gamestop stock in the masses, the hedge funds take huge knocks to the finances they have already put into the short. 

This is all good and well but why should you care about people who buy AMC stock and Gamestop stock on another platform or otherwise, if you are using TD Ameritrade? Well, it came to light that certain online platforms made it more difficult for retail traders to purchase stocks in these companies. Or, purchasing of certain stock was limited. Either way, this did not please many online traders. Whether you were a part of the mass movement to buy up these stocks or not, nobody wants to see restrictions on any available stocks on the trading platform they use.

Although TD Ameritrade didn’t directly follow suit and do this, it has become increasingly obvious that many are looking to an online broker platform that has all interests at heart, and centers their operations around this sentiment. TD Ameritrade is a prominent online platform that serves a wide group of traders. Nothing wrong there. But, certain traders are now opting for a more responsive, less sizable, and more personal platform. This makes our search for a TD Ameritrade alternative even more relevant. 

What to look for in a TD Ameritrade alternative:

If you are one of those users who has decided to move on from TD Ameritrade then you will want to find a trading platform that is going to provide the right base of operations for you. As so many new traders have sprung up in the wake of this recent story, they may not have the best idea of what to look for in a trading platform that isn’t TD Ameritrade Europe. So, here are a couple of important facts you should keep in mind when choosing your next online broker:

Account minimums:

There are many online brokerage firms that will require that you deposit a certain minimum amount into your account in order to get started. These amounts can vary to a significant degree and so can at times deter traders who are not looking to fund their accounts with an exorbitant initial deposit. 

It really depends on what kind of trader you are. If you are someone looking to trade or invest in high volumes then a higher minimum deposit may not bother you all that much as you were going to deposit that much in the first place. However, if you are someone operating on smaller scale trades then you may want an online broker that doesn’t put any limit at all on your minimum deposit but rather lets you decide what you would like to deposit. 

Payment methods:

Whether there is an account minimum or not you will want to find an online broker that allows you to make deposits and withdrawals with a healthy range of payment methods. This means you’ll want to see options that include things like debit/credit card payments, bank wire transfers. Some brokers, depending on the markets that they offer, will even allow you to deposit using crypto networks and e-wallets. 

It will vary from platform to platform so keep in mind the payment method that you prefer to use and make sure to check that off the list of things you would like to see on the site. Payment methods are vital to an efficient trading experience so you’ll want to make sure that the platform has the options you need. 

Educational tools:

The next thing you should assess is how proficient a trader you are. If you are quite new to the world of online brokers and trading instruments in general then you would want to find a broker that makes a host of different educational tools available on their site. These educational tools, like videos and helpful articles, will aid you in your transition to becoming a more experienced broker. 

These tools can even be useful to more experienced traders as well, as they can touch on some of the newer changes to trading instruments on the site that you may not be familiar with as of yet. Wherever you fall on the experience spectrum it is always useful having some educational tools available to you to enhance your trading prowess. 

Range of markets:

Depending on what you are looking for with your TD Ameritrade alternatives, you will find that the range of trading instruments is always an important aspect. You may want a broker that offers a strong selection of cryptocurrencies to trade through the use of CFDs. You might want a host of different investment avenues at your fingertips. Whatever it is, be sure to check that you can take advantage of these markets on a free stock trading app as well. Convenience is always an added plus. 

There are tons of different markets out there so it’s a good idea to join an online brokerage firm that is going to at least give you the option to choose from a decent selection of instruments. Even if you are only really interested in stocks, it’s nice to know that you can broaden your horizon with different markets on the site you are already using. 

Our pick for the best TD Ameritrade alternative:

Now that you at least have some idea of what to look for in TD Ameritrade alternative, we can start to point you in the direction of a high-quality online brokerage firm. At the end of the day, you will need to make this decision on your own but we can at least give you a little push in the right direction. From the onset, we’d like to point out – although there are several alternatives – our review has whittled it down to one. This online broker, in our opinion, has all the necessary trademarks that make a top brokerage firm. Below, we’ve outlined these characteristics. 

nextmarkets is the best TD Ameritrade alternative 

With a high-functioning online platform through the seamless adoption of new technology, coupled with a diverse number of trading instruments, you’ll be hard-pressed to find a better alternative to TD Ameritrade. nextmarkets continues to impress online traders analysts alike. 

nextmarkets – Regulatory and security status

When it comes to using an online broker, you need to ensure that they are authorised to offer financial trading services. It is also important to find out whether they have a secure site. nextmarkets ticks both boxes. This online broker has an investment license which falls under category 3 and is issued by the Malta Financial Services Authority. 

In terms of platform security, the site operates using the latest in SSL technology. This ensures that all data is encrypted and protected on a continuous basis. There are a variety of safe payment options and the added security features which provide complete oversight. 

Trading products on offer from nextmarkets 

nextmarkets is a financial technology company that boasts a range of investment and trading options. To this effect, this online broker challenges the likes of TD Ameritrade – an outstanding feat in its own right. nextmarkets continues to grow its product offerings and we are eager to see what the future holds. At the time of writing, this online broker enables you to trade in more than 800 instruments. 

You’ll find that there are almost two dozen forex pairs and 700 shares from the biggest exchanges in Europe as well as the US and Australia. It is also possible to trade a number of CFDs, 7 different indices, and a handful of raw materials. What is exciting about this online broker is that they are committed to providing a commission-free stock trading option. 

What we’ve also come to realise is that nextmarkets is very suitable for rookie traders. This TD Ameritrade alternative has managed to create a platform which facilitates simple, yet highly-efficient, trading orders. There are important tools which can be utilised to analyse markets movements and trends with maximum accuracy. Nexmarkets provides a friendly trading environment that encompasses all the necessary features and tools, without over-complicating the actual platform. 

Trading platform 

The current trading platform is a WebTrader which is capable of running nextmarkets’ two hallmark trading features; Couchfolio and Curated Investing. The WebTrader has implemented these two standout trading features and seamlessly runs them via the WebTrader platform. As such, you will not have the option of using a MetaTrader 4/5 platform. However, the WebTrader has proven to be effective and reliable for the purposes of this online trader. If anything, the current trading platform is more adept at meeting the expectations of traders. 

Furthermore, nextmarkets has designed a fantastic mobile app which can be downloaded for Android and iOS. The mobile app is a like-for-like substitute of the desktop trading version and allows you to trade on the go, with real-time alerts and market data available to you. 

Finding the best TD Ameritrade alternative

Finding TD Ameritrade alternatives does not have to be a daunting or painstaking task. Whether that be for TD Ameritrade Germany or TD Ameritrade France. What is important is that you keep in mind some of the key aspects that make a quality online brokerage firm, such as free stock trading

Aside from that, our list of trade and investment brokers is a great place for you to start looking for the right replacement. We suggest testing an online broker out first before committing fully with a large deposit. See how well the broker fits your personal preferences first before jumping straight in. We’re confident that you’ll find nextmarkets to be a worthy substitute – as this online broker possesses the necessary versatility and know-how to provide you with a beneficial online trading platform. 

TD Ameritrade alternative FAQ

Where do I start looking for TD Ameritrade alternatives?

If you are striking out on your own to try and find the right alternatives to TD Ameritrade you may feel unsure about where to start looking. Fear not, nextmarkets.com have got you covered with an outstanding.

Do TD Ameritrade alternative have quality mobile apps as well?

Most day traders need to have the capability to trade on the go. That is why you need to make sure that these online brokers have a decent mobile app available or that their platforms are at least mobile version compatible. We analyse whether these sites offer streamlined mobile apps or not. 

Are these alternatives to TD Ameritrade brokers safe to use?

There are trading platforms who are less than reputable out there so it is always better to be safe than sorry. With that being said, the list we have created of our personal favourite alternatives to TD Ameritrade are all highly reputable brokers. There is no need to be concerned for your account safety with our pick for the best TD Ameritrade alternative. Our chosen online broker fits the mould of a broker that capable of providing you with the best possible trading experience.

Are these alternatives to TD Ameritrade brokers safe to use?

There are trading platforms who are less than reputable out there so it is always better to be safe than sorry. With that being said, the list we have created of our personal favourite alternatives to TD Ameritrade are all highly reputable brokers. There is no need to be concerned for your account safety with our pick for the best TD Ameritrade alternative. Our chosen online broker fits the mould of a broker that capable of providing you with the best possible trading experience.

How do I sign up to the TD Ameritrade alternative broker?

It is quick and easy to sign up with the TD Ameritrade online broker alternative. Nowadays, there’s no need to kick up a fuss about spending hours standing in a queue. You can complete the entire process online, hassle-free. This allows you to start trading with the latest TD Ameritrade alternative in a matter of minutes. 

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