TD Ameritrade stands out as one of the top US brokers, offering access to various markets and asset classes. It provides an appealing trading platform (thinkorswim) that balances simplicity for new traders while offering access to advanced tools for experienced traders. TD Ameritrade was founded in 1975 and was acquired by Charles Schwab in 2019. It is regulated by several US top-tier authorities, such as the SEC, FINRA, and CFTC.
This article will provide a list of TD Ameritrade countries where you can open an account and use their platform. In addition, we’ll discuss whether TD Ameritrade has any plans to expand and some alternatives to consider if TD Ameritrade is not available in your country. Let’s get started!
What countries is TD Ameritrade available in?
TD Ameritrade mainly targets US investors but also accepts clients from different countries. Clients from Singapore, Malaysia, Thailand, China, Hong Kong, and Taiwan are redirected to other TD Ameritrade websites, while users from Canada will be directed to TD Direct Investing, a different company than TD Ameritrade.
Although the company does not disclose the complete list of countries where its services are available, you can always contact the company’s customer service department for further clarification and check if you can open an account. Still, we did some research on TD Ameritrade’s website and found that a few countries are available while others are currently restricted. You can find below the availability of TD Ameritrade in a few countries:
- TD Ameritrade available countries: Argentina, Chile, China, Colombia, Costa Rica, Hong Kong, India, Malaysia, Mexico, Peru, Singapore, Switzerland, Taiwan, Thailand, and the US, among others.
- TD Ameritrade restricted countries: Australia, EU countries, Georgia, Japan, New Zealand, Philippines, Russia, South Africa, UK, and many others.
You can try opening an account on the TD Ameritrade website, and when you reach the country field, they might interrupt you, saying that they can’t proceed with the application at this time.
TD Ameritrade International: Account Opening
TD Ameritrade did not mention any plans to expand its services to new countries. For instance, TD Ameritrade used to accept users from Egypt but stopped later without disclosing the reason.
Still, we’re continuously monitoring the announcement of such news as we update the availability of services of each broker regularly.
In the next section, we’ll present some TD Ameritrade alternatives available for international users. If you are an EU or UK resident, we encourage you to check the alternatives mentioned in our article: TD Ameritrade EU And UK: Expansion Plans And Alternatives.
TD Ameritrade Alternatives for international investors
The following are leading online brokers that accept international customers, are regulated by top-tier authorities such as the UK’s FCA, and provide similar features to TD Ameritrade in the US, such as low commission fees, a diverse range of available assets, or an advanced trading platform for more active traders, such as Thinkorswim.
Interactive Brokers
Targeting more experienced investors, Interactive Brokers offers a wide range of products from many exchanges worldwide. They also offer an advanced trading platform, IB Trader Workstation, a competitor to the Thinkorswim platform.
💡 For novice investors, Interactive Brokers launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options, and ETFs.
eToro
With over 30 million users, eToro is the leading social investing platform (copy and follow other traders/investors). It offers commission-free stock trading.
Freedom24
A European broker known for its exclusive offering of new stocks at their IPO (initial) price with an average return of 52% in three months. It also offers shares and ETFs on major American, Asian, and European exchanges, the lowest price for US stock options in the EU, and the USD savings account with 3% interest and daily accrual.
Disclaimer: Capital is at risk.
XTB
It offers commission-free stock and ETF trading (in some European countries) and low spreads on hundreds of markets through CFDs on Stocks, Forex, Indices, Commodities, and Cryptocurrencies. Awarded multiples time as the best Forex and CFD broker.
Disclaimer: 80% of retail CFD accounts lose money when trading with this provider.
DEGIRO
One of the leading online brokers in Europe due to its low-cost structure. Offers commission-free ETF trading (External costs apply) and a wide product portfolio.
Disclaimer: Investing involves risk of loss.
TD Ameritrade International Alternatives
# Interactive Brokers
IB at a glance
Founded in 1978 and publicly listed in NASDAQ (ticker: IBKR), Interactive Brokers is a global online broker which surpassed major financial crises, showing resilience and a rigorous risk management process.
Interactive Brokers offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets, solid trade execution (IB SmartRouting), and a set of technical and fundamental tools to help you in your investment decisions.
Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. That´s why we mainly endorse it to more advanced traders. Besides, customer service gives crystal clear answers to your doubts, so there is no need to go back and forth.
On the downside, Interactive Brokers’ fee structure is quite complex, the registration process is lengthy but entirely online, and the broker doesn’t offer commission-free trading. However, when considering FX fees, narrower spreads, and the stock loan program, Interactive Brokers’ clients still get significant savings compared to most brokers.
Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options, and ETFs, ideal for beginner investors. Some of the features of IBKR GlobalTrader include automatic currency conversions, fractional shares, demo account, and more.
Want to know more about Interactive Brokers? Check our Interactive Brokers Review.
TD Ameritrade International Alternatives
# eToro
eToro at a glance
eToro is the world’s leading social trading platform, with over 30 million clients in more than 140 countries. It allows retail account holders to mimic the trades and trading strategies of the most successful clients automatically and in real time.
Still, it does not only focus on social trading! It is also a multi-asset platform offering many different financial instruments to trade, such as CFDs, ETFs, stocks, commodities, Forex, and cryptocurrencies. eToro provides 0% commission on stocks. The spreads on CFDs may vary according to each financial product, so keep that in mind before placing an order.
The website and mobile app are nearly identical, attractively laid out, and incredibly simplified. The account opening process is pretty easy and fast. You only need a couple of minutes to sign up and follow the identification procedure. Moreover, if you are not yet comfortable with investing or its comprehensive dashboard, eToro provides you with a practice account.
eToro is considered safe since top-tier financial authorities regulate it, like the Financial Conduct Authority (FCA), and it has shown resilience during the Covid-19 market turmoil.
On the downside, it only has one account base currency (USD) and charges a 5$ commission per withdrawal. Plus, cost-free trading only applies when you trade real stocks or ETFs. In other words, if you leverage your positions, you’re trading CFDs and not real stocks or ETFs, and so you will incur spreads and overnight fees.
If you are interested, please read our eToro Review.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TD Ameritrade International Alternatives
# Freedom24
Freedom24 at a glance
Founded in 2015, Freedom24 has already offered to its 400,000+ worldwide clients the stocks of 260+ new companies at the IPO price, as well as 40,000+ stocks, 1,500+ ETFs, 800,000+ US Stock Options, and 147,000+ bonds on the largest exchanges in Europe, Asia, and the US.
Freedom24 trading platform can be accessed through PC and mobile App versions. Both trading platforms are adequate for executing trades. They are well-designed and intuitive but lack customization options. You are provided with additional features such as “InvestIdeas” and “News”.
Freedom24’s flagship product is clearly its offering of new stocks at the IPO price to hundreds of companies awaiting their opportunity to trade on major stock exchanges. There is excitement around this feature since it was only available for institutional investors.
In addition to the above, all Freedom24 clients have D-accounts – USD saving accounts at 3% per annum, which is higher than most European saving accounts (let´s be fair, we are comparing to EUR accounts that are at 0%). Besides, the customer service gives understandable answers to your doubts, so there is no need to go back and forth.
On the downside, it requires a minimum of $2,000 for IPOs participation, charges €7 per withdrawal, and presents an above-average currency conversion fee.
Want to know more about Freedom24? Check our Freedom24 Review.
Disclaimer: Investments in securities and other financial instruments always involve the risk of loss of your capital. Buying stocks at IPO prices may involve additional restrictions.
TD Ameritrade International Alternatives
# XTB
XTB at a glance
Another world player in the online brokerage industry is XTB. It is regulated by top-tier regulators such as the UK’s FCA, is listed on the Warsaw Stock Exchange and offers a professional trading platform – xStation 5.
Recently, it started offering 0% commission on stocks in some European countries alongside its currently available products like CFDs on several asset classes.
Its research and educational tools are also great when compared to competitors. Because it has multiple offices in Europe, XTB’s customer service is one of the best in the market if you are a European trader.
On the downside, the range of products offered is limited, as it is mostly focused on CFDs, Forex, and Crypto while providing access to real stocks and ETFs in some countries.
That’s XTB in a nutshell! If you want a more detailed review, read our XTB Review.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TD Ameritrade International Alternatives
# Degiro
Degiro at a glance
Founded in 2013, Degiro is a low-cost brokerage firm that has become very popular due to its low rates! With over 2.5 million users, the innovative platform has become widely known for its “do-it-yourself” philosophy in the sense that you have everything at your disposal to start investing on your own. It offers a wide range of financial assets to trade, including stocks, ETFs, bonds, options, futures contracts, warrants, investment funds, and some leveraged products (not quite the same as CFDs. More info here).
For instance, you can trade some ETFs for free (a €1.00 flat handling fee – external costs – still applies) – it includes a list of 200 ETFs where you may trade once a month completely free with no minimum amount required. The web trading platform is basic, but it is efficient and straightforward to use. In a matter of minutes, you get used to it. The same applies to its mobile app. On the downside, there is an absence of any significant fundamental research, a €2.50 connectivity fee applies, and pricing alerts are missing.
Regarding security, Degiro is the Dutch branch of flatexDEGIRO Bank AG (a German-regulated bank). In the unlikely event that the segregated assets cannot be returned to clients, Degiro falls under the German Investor Compensation Scheme, which compensates any losses from non-returned assets up to 90% (with a maximum of €20,000), so do bear this in mind if you are planning to invest much larger volumes. Furthermore, any money deposited on a DEGIRO Cash Account with flatexDEGIRO Bank AG will be guaranteed up to an amount of €100,000 under the German Deposit Guarantee Scheme.
Still any doubts? Go through our Degiro Review!
What to look for in an online broker?
The decision to choose among several brokers is sometimes tricky. Although it is a personal choice, we’ll mention a few general factors that you might need to consider when selecting a broker:
- Commission and Fees: It is one of the most critical factors when selecting a broker. Have a look at the fee pricing structure and choose the one that best suits your trading behavior. For example, if you are a frequent trader, you may want to find a broker with low commissions and tight spreads. Also, be aware of inactivity fees, account maintenance fees, commissions on deposits, withdrawals, and other non-trading fees.
- Security & Regulation: Although some brokers are new to the market compared to others which existed for years, you can check if the company is regulated by any regulator as you are entrusting them with your money.
- Range of products: Not all brokers provide access to all financial markets and asset classes. You may want to look for a broker that offers a variety of trading instruments and gives you access to different markets. Accessibility is always a plus.
- Account minimum: Many brokers require you to deposit a certain minimum amount into your account before you begin trading, so make sure you are comfortable with this requirement.
The bottom line
Although you might want to open an account at TD Ameritrade, many alternatives are present that give you access to similar markets and products. However, you must consider how well the broker you are looking for fits your personal trading preferences and objectives.
The list of brokers presented in this article is an excellent place to begin your search for a suitable alternative. We recommend trying the broker on a demo account before making a deposit to familiarize yourself with the platform and services.
Remember that this article should not be construed as investment advice but should be considered information only. Investors should do their own research and due diligence regarding the services and opportunities best suited for their risk, returns, and impact strategy.
We hope you’ve found our breakdown of TD Ameritrade alternatives useful. And remember, if you have any questions, feel free to leave a comment below.
Happy investing!
Other FAQs
How good is TD Ameritrade as a brokerage?
TD Ameritrade is one of the leading brokers in the US, with an attractive web trading platform, outstanding tools, and a wide range of products.
Does TD Ameritrade work in Canada? Can Canadians use the Ameritrade stock trading app?🇨🇦
Unfortunately, Canadians can’t open an account at TD Ameritrade. They will be redirected to TD Direct Investing.
Is the TD Ameritrade broker available in Australia?🇦🇺
No, TD Ameritrade is not available in Australia.
Does TD Ameritrade work in India? 🇮🇳
Yes, you can open an account at TD Ameritrade if you live in India.
Does TD Ameritrade work in South Africa?🇿🇦
Unfortunately, no. TD Ameritrade is not available in South Africa.
Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.
