TD Ameritrade $5 Commission Promotion

In my discount broker comparison post that I compiled last year, I placed TD Ameritrade near the bottom on the list because its stock trade commission is rather high at $9.99 per trade. If I want to choose  a broker to trade stocks, ETFs, or options, I don’t think it will be TD Ameritrade or Charles Schwab even though they offer more comprehensive services than those truly discount brokers do. I just don’t see the reason of paying something close $10 to make a trade when I can do the same with others charging half of the commission, or even less, especially when I do all the researches myself. To me, the cost of trading matters the most.

Anyway, if you still want to have a TD Ameritrade account, you can get $5 for online trades for 12 months during their promotion period. What you need to do to get this low commission offer is

  1. Open a TD Ameritrade account before November 30, 2010
  2. Make an initial deposit of at least $2,000
  3. Get $5 online trades for stocks, options, and ETFs for 12 months

Or you can call TD Americtrade at 866-834-2539 and mention promotion code 186 to get the same deal.

After seeing some full-service brokers including Schwab cut rates recently (the new stock trade commission at Charles Schwab is $8.95), I am wondering when TD Ameritrade will follow suite.

BTW, here are some other broker promotions currently available:

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5 Responses to “TD Ameritrade $5 Commission Promotion”

  1. Super Saver |  Oct 09, 2010 at 12:02 am

    Thanks for the info. I didn’t know about the promotion. Maybe I will try to negotiate a reduction in my commission since I am a long term customer.

    • mp |  Oct 15, 2010 at 12:36 am

      did the reduction negotiation work out for ya?

  2. A L |  Oct 13, 2010 at 3:57 am

    Can you use this promotion code 186 (for the $5 online trades for stocks, options, and ETFs for 12 months) in conjunction with the offer that’s found under http://www.tdameritrade.com/specialoffer.html about “TRADE COMMISSION-FREE FOR 30 DAYS + GET UP TO $500*” making it free for 30 days and then $5 for the next 11 months and be eligible to get the cash bonus?

  3. promotional items |  Oct 19, 2010 at 9:04 pm

    Great article! I actually received some of this stuff, and was wondering how we could afford it. Makes sense now.