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TD Ameritrade EU and UK: Expansion Plans and Alternatives

Franklin Carneiro da Silva| Updated November 9th, 2022
TD Ameritrade Europe and UK

TD Ameritrade EU and UK: Expansion Plans and Alternatives

TD Ameritrade is one of the leading US online brokers, alongside other discount brokers such as Webull, Robinhood, or E*TRADE. Through TD Ameritrade, a trader can access a wide variety of US-listed assets through the broker’s awesome proprietary platform, Thinkorswim.

In 2019, it was acquired by the Charles Schwab Corporation, a leading name in the investment and brokerage industry. So, TD Ameritrade is now a Charles Schwab subsidiary.

Do you want to know if TD Ameritrade is available in the European Union and the UK and the alternatives available? Keep on reading. We’ve got you covered!

Is TD Ameritrade available in Europe?

Unfortunately, TD Ameritrade is no longer available in the EU or the UK. Since 2018, the company no longer accepts traders residing in Germany, the Netherlands, the UK, France, Italy, Romania, Spain, Switzerland, Ireland, and most other European countries, largely due to changes in financial regulations in this territory.

TD Ameritrade EU and UK: Account Opening Error

Currently, TD Ameritrade operates mostly for US residents but also offers its services to other countries. If you’re unsure whether TD Ameritrade accepts clients from certain countries, reach out to its customer service department – the company hasn’t publicly disclosed the full list of accepted countries.

TD Ameritrade also hasn’t announced any plans to start accepting European traders again – it’s something we’ll keep you updated on should any announcement be made.

European Alternatives to TD Ameritrade

The following options are leading online brokers which operate in the EU and the UK, are regulated by top-tier authorities such as the UK’s FCA, and offer similar features to those provided by TD Ameritrade in the US – be it low commission fees, a wide 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 and ETFs.

eToro

with over 25 million users, it offers commission-free stock and ETF trading. You can also copy other traders/investors.

Freedom24

A European broker known for its exclusive feature of IPO subscriptions for individual investors (previously accessible only for institutional investors). It also offers stocks, ETFs, bonds, futures, and options on major American, Asian and European exchanges.
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

Plus500

Plus500 is one of the leading CFD brokers. It offers no commissions when trading CFDs in Indices, Forex, Commodities, Cryptocurrencies, Shares, Options and ETFs. It also recently launched Plus500 Invest for those who want to invest in real shares.
Disclaimer: 79% of retail CFD accounts lose money.

XTB

Leading broker for derivatives trading. Recently, it started offering commission-free real stock trading in some European countries (Portugal, Italy, Poland, Slovakia, Czech Republic, France, Spain, Romania and Germany).
Disclaimer: 79% 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 stock and ETF trading and a wide product portfolio.
Disclaimer: Investing involves risk of loss.

TD Ameritrade European Alternatives

# Interactive Brokers

interactive brokers logo
Visit Interactive Brokers

IB at a glance

0% Commissions
Mobile App
ProductsStocks, ETFs, Options, Futures, Forex, Commodities, Bonds and Funds
Minimum Deposit€/£0
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

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, the 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 fully 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 European Alternatives

# eToro

etoro logo
Visit eToro
79% of retail CFD accounts lose money.

eToro at a glance

0% Commissions(Only on Stocks and ETFs)
Mobile App
ProductsCFDs, ETFs, Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit$50 ($10 in the UK)
RegulatorsCySEC, FCA, and ASIC

eToro is the world’s leading social trading platform with over 25 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 stock and ETF trading (not all ETFs are commission-free). 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. 79% 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 European Alternatives

# Freedom24

TD Ameritrade EU and UK: Expansion Plans and Alternatives 1
Visit Freedom24
Capital is at risk.

Freedom24 at a glance

0% Commissions
Mobile App
ProductsStocks, ETFs, Bonds, Futures and Options, new shares at initial (IPO) price
Minimum Deposit€/$0
RegulatorsCySEC, BaFin, SEC

Founded in 2008, Freedom Finance, the official company name of Freedom24, has already offered to its 400,000+ worldwide clients participation in 280+ IPOs, including 40,000+ trade stocks, 1,500+ ETFs, 1,000+ 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 flagship product is clearly its exclusive feature of IPO subscriptions 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.

TD Ameritrade European Alternatives

# Plus500

TD Ameritrade EU and UK: Expansion Plans and Alternatives 2
Visit Plus500
79% of retail CFD accounts lose money.

Plus500 at a glance

0% Commissions(only in Plus500 CFD)
Mobile App
ProductsCFDs and, on Plus500 Invest, Real Shares
Minimum Deposit€/£/$100
RegulatorsFCA, CySEC, MAS, ASIC, FMA

Founded in 2008, Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies. It is available in over 50 countries and is listed on the London Stock Exchange.

There are two distinct account types:

  • Plus500 CFD: It only focuses on CFD products;
  • Plus500 Invest: Where you can trade stocks (real shares);

As a side note, Trade Sniper, a platform only available for US users and where you can trade Futures, is also part of the Plus500 group.

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices, including a mobile app. All platforms are easy to use and responsive, and you can start testing the features by opening a demo account.

Their customer support is helpful and easy to assess through a chat that is always shown on the trading platform. Their spreads are low, and they offer accounts in sixteen currencies, including USD, EUR, and GBP. Still, they charge a 0.70% currency conversion fee and a $10 monthly fee following three months with no activity. On Plus500 Invest, they only charge a small commission per trade (US market: $0,006/share).

Finally, it is regulated by financial regulators like the FCA and CySec, meaning that Plus500 is appropriately supervised and that there is an investor protection scheme under the entity you open an account with. For instance, If you open an account as a European investor through Plus500CY Ltd, you are protected up to €20,000. Additionally, Plus500 provides negative balance protection for CFD trading on a per-account basis – only to retail clients from the European Union.

Want to know more about Interactive Brokers? Check our Plus500 Review.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

TD Ameritrade European Alternatives

# XTB

XTB Review - XTB Logo
Visit XTB
79% of retail CFD account lose money.

XTB at a glance

0% Commissions (on Stocks, not available in all European countries)
Trading PlatformxStation 5
ProductsCFDs, Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit€0
RegulatorsCySEC, FCA, KNF, CNMV, and IFSC

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. 79% 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 European Alternatives

# Degiro

Degiro Review – Degiro Logo - Investing in the Web
Visit DEGIRO
Investing involves risk of loss.

Degiro at a glance

0% Commissions
Mobile App
ProductsStocks, Funds, ETFs, Futures, Leveraged Products, Bonds, and Warrants
Minimum Deposit€/£0
RegulatorsAFM, DNB

Founded in 2013, Degiro is a low-cost brokerage firm that has become very popular due to its low rates! With almost 2 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 stocks and ETFs for free (a €1.00 flat handling fee – external costs – still applies). You also have 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!

The bottom line: which broker should you go for?

There’s no such thing as “the best online broker”. Different providers offer different features which will fit your profile, preferences, and objectives differently. 

For instance, do you want an easy-to-use platform for long-term buy-and-hold or a more complex platform for trading or options? Do you value research or is an execution-only broker sufficient? Which products and markets are you looking to trade?

Even though many traders are now looking at commission-free trading as the main factor for their choice, one must be aware that it generally comes at a cost. Where is the broker routing its orders? It might be compromising the quality of trade execution.

The best online broker in your specific case will depend on your profile, preference, and objectives. Explore the websites linked to above and decide for yourself!

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.

Hope we helped! Please, leave your comments below.

Happy investing!

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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