Anyone use TD Ameritrade?

[joeubk]

Their flat fees of USD10.62 per trade seem high. They have a TD Ameritrade Singapore Pte Ltd here, will it be easier to communicate when there is problem or transfer fund?

 

[The_Only_Yong]

hmmm

i think im gonna use it too though. HAHAHA!

 

[dewjef]

I had encountered problem several times in the night, i managed to contact online support thru TOS software and they guided me to resolve problems.

 

[final1]

I use them. Totally fine with their service. Their commission is reasonable compared to other local brokerages. You actually get 25 free trades at account opening.

Transfer fund.... no problem since you mail them a SGD cheque or USD cheque to their local office. A little slow. But, no big deal to me.
TT also can but no bank will TT for free for you. So, go by cheque funding. Pay for stamp and envelope only.

There is a fee for withdrawal though. No big deal to me.

Once you see TD Ameritrade's interface, you will realise that local brokerages trading interface is so......prehistoric.

Interactive brokers has cheaper commission but there is a minimum investment sum to avoid their inactivity fee which most won't meet.

 

[The_Only_Yong]

yay! means its kinda good then. cause ill be signing up for it soon!!

 

[Mecisteus]

$10USD minimum activity fee for Interactive Brokers is so much worth it for the instant funding, withdrawal, spot FX, cheap financing and rock bottom commission fee.

 

[peterchan75]

Unlike IB, TD Ameritrade does not need US$10K start an account.

 

[Hybrid_Theory]

I use them. Totally fine with their service. Their commission is reasonable compared to other local brokerages. You actually get 25 free trades at account opening.

Transfer fund.... no problem since you mail them a SGD cheque or USD cheque to their local office. A little slow. But, no big deal to me.
TT also can but no bank will TT for free for you. So, go by cheque funding. Pay for stamp and envelope only.

There is a fee for withdrawal though. No big deal to me.

Once you see TD Ameritrade's interface, you will realise that local brokerages trading interface is so......prehistoric.

Interactive brokers has cheaper commission but there is a minimum investment sum to avoid their inactivity fee which most won't meet.

which bank account and type do you use to fund your tos?

 

[BBCWatcher]

According to TD Ameritrade Asia’s (Singapore’s) Web site, there are some significant limitations:

1. You can only trade U.S. equities (and other securities traded on U.S. exchanges). Not the popular Irish-domiciled London-traded ETFs, as a notable omission. This limitation is significant for most non-U.S. persons, unless you happen to be very focused on individual stock picking.

2. Mutual funds, even U.S. mutual funds, are not available. (Although these funds would typically be more interesting to U.S. persons.)

3. The Web site says that non-U.S. persons must fund accounts in U.S. dollars only. Singapore dollar funds (check or wire) are specifically excluded, according to the Web site.

4. Yes, there’s some cost for withdrawals.

5. They have a small physical office in Singapore, and that’s occasionally useful. But oddly no custodial bank account in Singapore for accepting deposits via FAST or GIRO, and that’s not so nice.

I’m glad TD is making an effort, but they’ll need to try harder. I would look into OptionsXpress Singapore (a subsidiary of Charles Schwab, and also available under Schwab Singapore branding but with a higher minimum opening balance) as a possible alternative, unless you happen to love TD’s platform. Of course there’s Interactive Brokers as well.

 

[final1]

which bank account and type do you use to fund your tos?

Citibank CitiAccess (free inward TT ; hardly any interest on US$ deposits ; first US$ cheque book free ; no minimum balance if you already have at least S$15k in other Citibank accounts)

Maybank Foreign Currency Current Account (0.6% on US$ deposits ; not free inward TT ; all US$ cheque book free ; minimum balance US$1k)

CIMB Foreign Currency Account (don't use it but can consider ; free inward TT ; free US$ cheque book ; no interest on US$ deposits ; minimum balance US$1k)

TDAmeritrade is currently having a promo. US$88 for referrals who open an account with minimum US$3,500. Can split 50-50. If anyone is interested, PM me. Cheers!

25 free commission trades if open with at least US$10,000. Please note terms and conditions at the below link.
https://www.tdameritrade.com.sg/tdaa/index.html#!/whytdaa/promotions

There is free real-time streaming of US market data.
Free CNBC video in the platform. No activity fees or monthly fees.

Also, i don't know how it works. But, during the US's tax season, they refund my account with some (not all) of the withholding tax i paid on dividends. So, effectively, the 30% withholding rate isn't really 30%. Not sure if other brokerages do this because TDAmeritrade is the only platform i do US equities on. So, i wouldn't call it a pro at this point. Maybe other forumers can share on interactive brokers or schwab etc.

 

[ExtremeWays]

Up for more

 

[chickenmedium]

thinking of using TDA to buy US equities. not doing heavy trading, more of buying and holding and selling perhaps a few months later.

few questions:

"Trade unlimited shares for a flat commission of USD$10.65 per trade"
this means each trade (buy or sell) will be at USD 10.65? i assume so..

Withdrawal fees: not stated in their FAQs, how much will the telegraphic transfer cost?

"Minimum funding to receive telephonic transfer (wire) rebates and customer referral rebates is USD$3,500"
technically speaking i can just wire or mail them a USD3000 cheque and i still can go ahead to trade; just that i'm not entitled to the rebates?

sorry if the questions come across as a little silly as i just want to clear some questions before i actually plan to use it. not very keen on using IB due to its monthly activity fee of USD10 and minimum deposit of USD10,000. please do correct me if i'm wrong on the above requirements. thanks

 

[VEF888]

thinking of using TDA to buy US equities. not doing heavy trading, more of buying and holding and selling perhaps a few months later.

few questions:

"Trade unlimited shares for a flat commission of USD$10.65 per trade"
this means each trade (buy or sell) will be at USD 10.65? i assume so..

Withdrawal fees: not stated in their FAQs, how much will the telegraphic transfer cost?

"Minimum funding to receive telephonic transfer (wire) rebates and customer referral rebates is USD$3,500"
technically speaking i can just wire or mail them a USD3000 cheque and i still can go ahead to trade; just that i'm not entitled to the rebates?

sorry if the questions come across as a little silly as i just want to clear some questions before i actually plan to use it. not very keen on using IB due to its monthly activity fee of USD10 and minimum deposit of USD10,000. please do correct me if i'm wrong on the above requirements. thanks

Go with TD then, since it's more buy and hold using limit orders right? IB is more for active trading, IB in terms of trade execution it's much better, faster and better fill.


TD has superior charts though.

 

[terryhoho]

uhhhhhhhhhhhhhhhhhh

 

[revhappy]

IB is the best if you like everything automated and don't like to interact with a person. This is good actually for people like us who are not in US.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[chickenmedium]

Thanks all for the reply!

definitely will go with IB if not for their heftier account balances and account activity fees. guess for now i will try out TDA. their TOS platform really quite powerful..

 

[iLouis]

Citibank CitiAccess (free inward TT ; hardly any interest on US$ deposits ; first US$ cheque book free ; no minimum balance if you already have at least S$15k in other Citibank accounts)

Maybank Foreign Currency Current Account (0.6% on US$ deposits ; not free inward TT ; all US$ cheque book free ; minimum balance US$1k)

CIMB Foreign Currency Account (don't use it but can consider ; free inward TT ; free US$ cheque book ; no interest on US$ deposits ; minimum balance US$1k)

TDAmeritrade is currently having a promo. US$88 for referrals who open an account with minimum US$3,500. Can split 50-50. If anyone is interested, PM me. Cheers!

25 free commission trades if open with at least US$10,000.

There is free real-time streaming of US market data.
Free CNBC video in the platform. No activity fees or monthly fees.

Also, i don't know how it works. But, during the US's tax season, they refund my account with some (not all) of the withholding tax i paid on dividends. So, effectively, the 30% withholding rate isn't really 30%. Not sure if other brokerages do this because TDAmeritrade is the only platform i do US equities on. So, i wouldn't call it a pro at this point. Maybe other forumers can share on interactive brokers or schwab etc.

very helpful information. I'm gonna use tdameritrade. @final1 can pm me?

 

[final1]

iLouis, PMed you already

 

[matcha18]

Citibank CitiAccess (free inward TT ; hardly any interest on US$ deposits ; first US$ cheque book free ; no minimum balance if you already have at least S$15k in other Citibank accounts)

Maybank Foreign Currency Current Account (0.6% on US$ deposits ; not free inward TT ; all US$ cheque book free ; minimum balance US$1k)

CIMB Foreign Currency Account (don't use it but can consider ; free inward TT ; free US$ cheque book ; no interest on US$ deposits ; minimum balance US$1k)

TDAmeritrade is currently having a promo. US$88 for referrals who open an account with minimum US$3,500. Can split 50-50. If anyone is interested, PM me. Cheers!

25 free commission trades if open with at least US$10,000. Please note terms and conditions at the below link.
https://www.tdameritrade.com.sg/tdaa/index.html#!/whytdaa/promotions

There is free real-time streaming of US market data.
Free CNBC video in the platform. No activity fees or monthly fees.

Also, i don't know how it works. But, during the US's tax season, they refund my account with some (not all) of the withholding tax i paid on dividends. So, effectively, the 30% withholding rate isn't really 30%. Not sure if other brokerages do this because TDAmeritrade is the only platform i do US equities on. So, i wouldn't call it a pro at this point. Maybe other forumers can share on interactive brokers or schwab etc.

Just to add ...
TD will reimburse the transfer fee <USD100 if you transfer your existing US equities to them. Also, they do not charge custody fee.

 

[cometosg]

Thanks for useful information

Thanks guys for your help.

final1 please contact me via pm for sharing referral. I am interested but can't PM you.

S