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TD Ameritrade Romania: Expansion Plans and Alternatives

Franklin Carneiro da Silva| Updated January 13th, 2023
td ameritrade romania

TD Ameritrade is a US-based broker which targets both beginners and more professional investors. Its assets include stocks and ETF (with no commission), as well as more complex financial assets, such as options and futures.

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

In a nutshell, what is TD Ameritrade?

TD Ameritrade is one of the leading US online brokers. It has been in existence for many years, has branch offices all around the US and has been listed on Nasdaq since 1997. Through TD Ameritrade, a trader can access a wide variety of US-listed assets through the broker’s awesome proprietary platform, Thinkorswim. On the downside, TD Ameritrade only offers access to the US markets and doesn’t offer fractional shares.

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.

Is TD Ameritrade available in Romania?

Unfortunately, TD Ameritrade is no longer available in Romania. Since 2018, the company no longer accepts traders residing in Europe, largely due to the changes in financial regulations in this territory.

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 Romanian investors again – it’s something we’ll keep you updated on should any announcement be made.

Alternatives to TD Ameritrade in Romania

The following options are leading online brokers which operate in Romania, are regulated by top-tier authorities, and offer similar features to those provided by TD Ameritrade in the US – be it commission-free trading, a wide range of available assets, or an advanced trading platform for more active traders, such as Thinkorswim.

eToro

With over 25 million users, eToro is the leading social investing platform (copy and follow other traders/investors). It offers commission-free stock trading.

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.
💡 Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors.

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

Global forex and CFDs broker and one of the leading brokers for derivatives trading. Furthermore, their proprietary trading platform – X Station 5 – is considered one of the best because of its advanced tools and user-friendly interface. Recently, they started offering commission-free real stock and ETFs trading in Romania.
Disclaimer: 81% of retail CFD accounts lose money when trading with this provider.

TD Ameritrade Alternatives in Romania

# eToro

etoro logo
Visit eToro
81% of retail CFD accounts lose money.

eToro at a glance

0% Commissions(on Stocks)
Mobile App
ProductsCFDs, ETFs, Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit50$
RegulatorsCySEC, FCA, and ASIC

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 stock trading. 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 few 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 review of eToro.

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 Alternatives in Romania

# Interactive Brokers

interactive brokers logo
Visit Interactive Brokers

IB at a glance

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

If you’re looking for an online broker with a wide range of products from different markets, low costs, and a sophisticated trading platform, then Interactive Brokers might be a good alternative to the TD Ameritrade broker.

Founded in 1978 and publicly listed on Nasdaq since 2007, Interactive Brokers is a global online broker that offers access to dozens of markets worldwide, not only US-listed assets. Besides the low costs, this is one of their main differentiators.

They also offer an educational area with free resources for financial education.

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.

If you are interested, please read our Interactive Brokers Review.

TD Ameritrade Alternatives in Romania

# Freedom24

TD Ameritrade Romania: Expansion Plans and Alternatives 2
Visit Freedom24
Investing involves risk of loss.

Freedom24 at a glance

0% Commissions
Trading PlatformFreedom24
ProductsStocks, ETFs, Bonds, Futures and Options, new shares at initial (IPO) price
Minimum Deposit€/$0
RegulatorsCySEC, BaFin, SEC

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 flagship product is clearly its offering of the 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 Alternatives in Romania

# XTB

XTB Review - XTB Logo
Visit XTB
81% of retail CFD account lose money.

XTB at a glance

0% Commissions(Stocks and ETFs)
Trading PlatformxStation 5
ProductsCFDs, Stocks, Commodities, Forex, and Cryptocurrencies
Minimum Deposit0€
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 Romania, 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.

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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