TD Ameritrade

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Commission-free trading

Our award-winning investing experience, now commission-free

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Introducing $0 commissions on online stock, ETF, and option trades.** When you add this to our best-in-class platforms, award-winning education and service, and a network of over 250 branches, you'll see why TD Ameritrade is the smarter way to trade.

**Applies to U.S. exchange-listed stocks, ETFs, and options. A $0.65 per contract fee applies for options trades.

StocksETFsMutual FundsOptionsFixed IncomeFuturesForex Currency

Stocks

Stocks

  • Online

    $0.00

  • Interactive Voice Response (IVR) Phone System

    $5.00

  • Broker-assisted

    $25.00

We deliver added value with our order execution quality, with 98% of executed market orders receiving a better price than the National Best Bid and Offer (NBBO) at the time of routing.2

Note: $0 commission applies to exchange-listed U.S. stock, domestic and Canadian ETF, and option trades. $0.65 per options contract fee, with no exercise or assignment fees. A $6.95 commission applies to online trades of over-the-counter (OTC) stocks (stocks not listed on a U.S. exchange).

ETFs

ETFs

  • Commission-free ETFs

    $0.00

  • Online

    $0.00

  • Interactive Voice Response (IVR) Phone System

    $5.00

  • Broker-assisted

    $25.00

TD Ameritrade features an extensive list of commission-free ETFs. Learn more on our ETFs page.

We deliver added value with our order execution quality, with 98% of executed market orders receiving a better price than the National Best Bid and Offer (NBBO) at the time of routing.2

Note: $0 commission applies to exchange-listed U.S. stock, domestic and Canadian ETF, and option trades. $0.65 per options contract fee, with no exercise or assignment fees. A $6.95 commission applies to online trades of over-the-counter (OTC) stocks (stocks not listed on a U.S. exchange).

Mutual Funds

Mutual Funds

  • No-Transaction-Fee (NTF)†

    No commission

  • No-Load

    $49.99

  • Load1

    No commission

TD Ameritrade offers hundreds of no-transaction-fee (NTF) funds from leading fund families. Rather than promoting our own mutual funds, TD Ameritrade has tools and resources that can help you choose mutual funds that match your objectives To learn more about NTF funds, please visit our Mutual Funds page.

Options

Options

  • Online

    $0.00
    $0.65 fee per contract

  • Options exercises and assignments

    $0.00

  • Interactive Voice Response (IVR) Phone System

    $5.00 + $0.65
    fee per contract

  • Broker-assisted

    $25.00 + $0.65
    fee per contract

Select Index Options will be subject to an Exchange fee. Learn more.

Rated best in class for "options trading" by StockBrokers.com, TD Ameritrade features straightforward commissions on option trading. Plus, nickel buyback lets you buy back single order short option positions - for both calls and puts - without any commissions or contract fees if the price is a nickel or less. There is no waiting for expiration.

Fixed Income

Fixed Income

You have your choice of offerings ranging from the simplest CD to more complex, structured fixed-income investment at affordable pricing with TD Ameritrade. Add bonds or CDs to your portfolio today.

Bonds

  • Treasuries at auction

    Available Commission Free

  • All other bonds and CMOs

    On a net yield basis

CDs

  • New issue

    On a net yield basis

  • Secondary

    On a net yield basis

UITs

  • New issue

    Placement fee from issuer

  • Secondary

    Placement fee from issuer

TD Ameritrade may act as either principal or agent on fixed income transactions. When acting as principal, TD Ameritrade will add a markup to any purchase, and subtract a markdown from every sale. This markup or markdown will be included in the price quoted to you. When placing fixed income trades through the Retail online platform, TD Ameritrade will charge a $1 per bond or CD on secondary transactions. Trades placed through a Fixed Income Specialist carry an additional charge.

Futures

Futures

  • Futures & Options on Futures

    $2.25 fee per contract (plus exchange & regulatory fees)

You'll have easy access to a variety of available investments when you trade futures with a TD Ameritrade account, including energy, gold and other metals, interest rates, stock indexes, grains, livestock and more. A transparent Plus Fees pricing structure includes the commission plus the specific exchange and regulatory fees. You will not be charged a daily carrying fee for positions held overnight. Learn more about futures trading.

Note: Exchange fees may vary by exchange and by product. Regulatory fees are assessed by the National Futures Association (NFA) and are currently $0.02 per contract. All prices are shown in U.S. Dollars.

Forex Currency

Forex Currency

As of April 5th, 2020, TD Ameritrade Futures & Forex LLC offers forex trading from 6:00 p.m. – 5:00 p.m. ET daily, Sunday through Friday.

You have many choices in Forex trading with TD Ameritrade, including over 70 different currency pairs. At TD Ameritrade, Forex currency pairs are traded in increments of 10,000 units and there is no commission. However, the cost of the trade is reflected in the bid/ask spread.

FX Liquidation Policy

Liquidation of positions will occur:

Once daily for any account with a risk level of less than 100% at 4 am EDT

Intraday if the risk level in the account falls to 25% or below, whichever comes first.

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TD Ameritrade

Where Smart Investors Get Smarter SM

Call Us 800-454-9272

AdChoices

Carefully consider the investment objectives, risks, charges and expenses before investing. A prospectus, obtained at tdameritrade.com or by calling 800-669-3900, contains this and other important information about an investment company. Read carefully before investing.

1The Fund Family will charge fees as detailed in the fund prospectus.

2Our 98% price improvement rate reflects market orders executed between April and June 2019 in exchange-listed stocks less than 2,000 shares in size, representing the vast majority of our clients' market orders. Statistics provided by S3 Matching Technologies, which is not affiliated with TD Ameritrade.

Price improvement is not guaranteed. Price improvement percentage is calculated by dividing executed market orders receiving price(s) better than the National Best Bid and Offer (NBBO) at the time of order routing by the total number of orders executed. Price improvement savings is the difference between the order execution price and the NBBO at the time of order routing, multiplied by executed shares.

†No-Transaction-Fee (NTF) mutual funds are no-load mutual funds for which TD Ameritrade does not charge a transaction fee. Mutual funds have other fees, and expenses that apply to a continued investment in the fund and are described in the prospectus.

Market volatility, volume, and system availability may delay account access and trade executions.

All investing involves risk, including loss of principal.  When redeemed, an investment may be worth more or less than the original investment amount.

TD Ameritrade does not charge platform, maintenance, or inactivity fees. Commissions, service fees, and exception fees still apply. Please review our commission schedule and rates and fees schedule for details.

Commission Schedules and Fees may vary by program, location or arrangement and are subject to change upon 30 days notice. All prices are shown in U.S. dollars. TD Ameritrade charges a Reg Fee on certain transactions. These charges are typically based on fees assessed under various regulations applicable to transactions. It may include any of the following: a sales fee on certain sell transactions (assessed at a rate consistent with Section 31 of the Securities and Exchange Act of 1934), the Options Regulatory Fee (applicable to options transactions), among other charges.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.

Reviewed against 14 other online brokers, TD Ameritrade was named #1 Overall Broker in the StockBrokers.com 2020 Online Broker Review (2 years in a row). We rated #1 in several categories, including "Customer Service" (4 years in a row), "Platforms & Tools" (9 years in a row), "Education" (8 years in a row), and "Beginners" (8 years in a row). We also received several industry awards, "Trader App" (TD Ameritrade Mobile Trader, 4 years in a row), "Trader Community" (5 years in a row) and "Desktop Platform" (thinkorswim®) (8 years in a row). We were also rated Best in Class (within the top 5) for "Offering of Investments" (6 years in a row), "Research" (9 years in a row), "Mobile Trading" (8 years in a row), "Ease of Use" (4 years in a row), "Active Trading" (10 years in a row), and "Options Trading" (10 years in a row). Read the full article.

Investments in fixed income products are subject to liquidity (or market) risk, interest rate risk (bonds ordinarily decline in price when interest rates rise and rise in price when interest rates fall), financial (or credit) risk, inflation (or purchasing power) risk and special tax liabilities. Investments in fixed income products are subject to market risk, credit risk, interest rate risk and special tax liabilities. May be worth less than the original cost upon redemption.

Futures and futures options trading is speculative, and is not suitable for all investors.  Please read the Risk Disclosure for Futures and Options prior to trading futures products. Clients must consider all relevant risk factors, including their own personal financial situation, before trading.

Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. Please read the NFA Booklet: What Investors Need to Know prior to trading forex products.

The forex market is open from 5:00 p.m. to 4:00 p.m. daily , Sunday through Friday. Beginning at 5:00 p.m., forex pairs may be opened at various intervals to ensure market liquidity . As part of routine daily maintenance, generally conducted between 12:00 a.m. – 2:00 a.m. and lasting approximately 2 minutes, the  trading platform may not be available. Times referenced are Central Standard Time or Central Daylight Time, whichever is in effect.  TD Ameritrade Futures & Forex LLC utilizes JP Morgan Chase Bank N.A. as its forex prime broker.  Liquidity providers are JP Morgan, Citadel Securities, XTX Markets, and Virtu Financial. 

A forex dealer may be compensated via commission and/or mark-up on forex trades. TD Ameritrade Futures & Forex LLC does charge commission on forex transactions nor does it offer commission-based forex pairs. However, the cost of the trade is reflected in the bid/ask spread. Additional information may be found in its NFA 2-36 and CFTC 1.55 Disclosure Document.

Forex trading exposes you to risk including, but not limited to, market volatility, volume, congestion, and system or component failures which may delay account access and Forex trade executions. Prices can change quickly and there is no guarantee that the execution price of your order will be at or near the quote displayed at order entry. Delays in account access and execution at a different price is more likely to occur in conditions such as a fast-moving market, at market open or close, or due to the size and type of order.

Futures and forex accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Futures, futures options, and forex trading services provided by TD Ameritrade Futures & Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify. Forex accounts are not available to residents of Ohio or Arizona.

Taxes related to TD Ameritrade offers are your responsibility. All Promotional items and cash received during the calendar year will be included on your consolidated Form 1099. Please consult a legal or tax advisor for the most recent changes to the U.S. tax code and for rollover eligibility rules.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

Brokerage services provided by TD Ameritrade, Inc., member FINRA/ SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2020 TD Ameritrade.