TD Ameritrade, recently acquired by Charles Schwab, is one of the world's most famous online brokers, with millions of users. It offers commission-free trading and has a very popular trading platform, Thinkorswim.
If you follow famous financial Youtubers or traders such as Ricky Gutierrez or Warrior Trading, you've heard of TD Ameritrade many times before. It targets both long-term beginner investors, as well as day traders, is listed on the NASDAQ, and has branches all around the US.
Is TD Ameritrade available in Canada?
No, TD Ameritrade is not available in Canada. The company's target market is the United States, but other countries can also open an account upon request - you should contact the customer support and the support team will let you know if you're allowed to open an account or not.
However, Canadian investors can still use the Thinkorswim platform through TD Direct Investing - a Canadian broker. TD Direct Investing and TD Ameritrade are still different companies, but Thinkorswim can be used through both of them.
While Canada is a vast market, TD Ameritrade already has some competitors operating under a similar business model (which we cover below).
Can Canadians use a VNP to use TD Ameritrade from Canada?
No, Canadian investors cannot use a VPN to use TD Ameritrade from Canada. Upon account opening, TD Ameritrade requires specific documentation as proof that you are a U.S. citizen.
TD Ameritrade Alternatives in Canada
- Interactive Brokers: One of the world's most reputable brokers. Recently launched IBKR Global Trader, a user-friendly mobile app that targets beginner investors.
- TD Direct Investing: a brokerage from Canada where investors can use the Thinkorswim platform.
- Questrade: one of the largest Canadian brokers.
- Wealthsimple Trade: a commission-free stock trading app.
If you want to open a TD Ameritrade account, you're in bad luck: it doesn't work in Canada. However, we believe that any of the brokers mentioned above will be good choices. Whether you value security and reputation or want a commission-free trading platform, the alternatives presented should be a good starting point. Explore their websites and decide for yourself!
Hope you found our breakdown helpful, and please let us know if you have any questions or feedback - we're happy to help!
A reminder that the above should not be construed as investment advice and should be considered information only. Investors should do their research and diligence about the services and opportunities best suited for their risk, returns, and impact strategy.