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TD Ameritrade Review

A TD Ameritrade review and status update: its acquisition by Charles Schwab, the move of thinkorswim and accounts to Schwab, and what US and international traders do now.

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TD Ameritrade was one of the largest US stock and options brokers, best known for its powerful thinkorswim platform. It was acquired by Charles Schwab in a deal that closed in 2020, and over the following years client accounts and thinkorswim were moved across to Schwab. In practice that means TD Ameritrade no longer takes new clients as a standalone broker — anyone looking for its services, including thinkorswim, is now directed to Charles Schwab. It was always a US-focused broker with limited international access, so traders outside the US — for example in Malaysia — typically used international stock brokers or forex and CFD brokers instead. If you found this page searching for TD Ameritrade, the key takeaway is that Schwab is now its live successor; confirm the current details on Schwab's own site.

TD Ameritrade — status today

TD Ameritrade — pros & cons

ProsCons
thinkorswim was best-in-classNo longer a standalone broker
Strong US options toolingAccounts moved to Schwab
Deep research heritageLimited international access
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TD Ameritrade — key facts

ItemDetail
TypeUS stock & options broker
Known forthinkorswim platform
Acquired byCharles Schwab (deal closed 2020)
Accounts nowTransitioned to Charles Schwab
New clientsOpen with Schwab, not TD Ameritrade
International accessAlways limited

Frequently asked questions

Is TD Ameritrade still operating?
TD Ameritrade was acquired by Charles Schwab, and its client accounts and the thinkorswim platform have been transitioned to Schwab. New accounts are now opened with Charles Schwab rather than TD Ameritrade as a standalone broker.
What happened to thinkorswim?
thinkorswim, TD Ameritrade's advanced trading platform, has been carried over to Charles Schwab, which now offers it to its clients. Its core charting, options and paper-trading tools continue under Schwab.
Could traders in Malaysia use TD Ameritrade?
TD Ameritrade was a US-focused broker with limited international access, so most traders outside the US could not open standard accounts. International investors typically use brokers that accept non-US residents, or international forex and CFD brokers on MetaTrader.
What is a current alternative to TD Ameritrade?
In the US, Charles Schwab is the direct successor. International traders who want US shares often use brokers that accept non-US clients such as Firstrade, while those who want leveraged forex or CFDs use regulated MetaTrader brokers — compare them in our reviews.

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