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TD Ameritrade (Charles Schwab) Review 2025

Ranked #12 among the Best online brokers of United States
Updated:
Ranked #12 among the Best online brokers of United States
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TD Ameritrade is available in
6.79/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • $1
Trading platform:
  • Thinkorswim
  • Classic web platform
  • NextGen web platform
  • TD Ameritrade Mobile
Leverage
  • 1:2
Trading features
  • Margin trading is available after making a deposit of $2,000 or more

Our Evaluation of TD Ameritrade

6.79/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

TD Ameritrade is a moderate-risk broker with the TU Overall Score of 6.79 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by TD Ameritrade clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.

TD Ameritrade (Charles Schwab) is a broker with a wide range of investment assets and high-quality trading platforms, which is mainly aimed at seasoned US-based traders.

Brief Look at TD Ameritrade

TD Ameritrade (Charles Schwab) is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade (Charles Schwab) is a member of FINRA (CRD#: 7870/SEC#: 801-60469,8-23395 ) and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade (Charles Schwab) was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.

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Advantages of trading with TD Ameritrade:
  • The broker's regulators are FINRA and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's (Charles Schwab) bankruptcy or other default.
  • Clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments.
  • The broker offers a vast array of investment products for generating passive income.
  • The company does not charge fees for trading in American and Canadian stocks, options, and ETFs.
  • There are no requirements for the size of the minimum deposit on cash accounts.
  • The broker offers high-tech author's terminals that work from desktop or mobile device.
Disadvantages of TD Ameritrade:
  • A high entry threshold has been set for margin trading and investment in managed portfolios.
  • The broker offers a limited selection of payment systems for deposits and withdrawals.
  • There is no online chat on the company's website. It is available only in some versions of trading platforms.

TU Expert Advice

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

TD Ameritrade, a subsidiary of Charles Schwab, provides a comprehensive range of trading and investing platforms, including Thinkorswim and TD Ameritrade Mobile, covering stocks, ETFs, options, and Forex. With Standard, Retirement, and Education accounts, the broker allows flexible trading and investment strategies. The platforms are feature-rich, suitable for experienced traders, offering zero fees on U.S. and Canadian stocks and derivatives, and providing access to managed portfolios for passive investment.

However, TD Ameritrade has drawbacks, including a high entry threshold for margin trading and limited payment methods, specifically excluding credit and debit cards. Furthermore, the absence of live chat may be less convenient for users needing prompt support. These disadvantages suggest that while TD Ameritrade may suit experienced traders seeking diverse investment opportunities, it may not be optimal for beginners or those looking for lower entry investment options.

TD Ameritrade Summary

Via TD Ameritrade's (Charles Schwab) secure website. Your capital is at risk.

💻 Trading platform: Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile)
📊 Accounts: Paper Account (Demo), Standard (Cash, Cash and Margin, Cash and Option, Cash, Margin and Option), Retirement (Traditional IRA, Roth IRA, Rollover IRA), Education (529 Plan, Coverdell), Specialty, Managed Portfolios
💰 Account currency: USD
💵 Deposit / Withdrawal: Electronic bank deposit (ACH), wire transfer, asset transfer from another brokerage company, by check via mobile app, physical certificates of shares
🚀 Minimum deposit: From $1
⚖️ Leverage: 1:2
💼 PAMM-accounts: No
📈️ Min Order: 0.1
💱 EUR/USD spread: Missing
🔧 Instruments: Stocks, options, ETF, mutual funds, futures, bonds, annuities, IPO, CDs, Forex, cryptocurrency
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: JP Morgan, Citadel Securities, XTX Markets, HC Technologies, Virtu Financial
📱 Mobile trading: Yes
➕ Affiliate program: No
📋 Order execution: Market execution
⭐ Trading features: Margin trading is available after making a deposit of $2,000 or more
🎁 Contests and bonuses: Welcome bonus

The broker TD Ameritrade (Charles Schwab) offers favorable conditions for active traders and passive investors. The minimum deposit for investment and trading starts at $1. The company's clients can trade US stocks, US and Canadian ETFs, and options with zero commissions. Access to margin trading opens after a deposit of $2,000 or more. The broker does not support transfers through electronic payment systems. Also, credit and debit cards cannot be used to deposit and withdraw funds.

TD Ameritrade Key Parameters Evaluation

Video Review of TD Ameritrade

User Satisfaction i

Score:
6.7/10

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Enzopab
2 years ago

After 3 years, I decided to give TD Ameritrade a second chance, but nothing has changed here. As there were problems with the withdrawal of money, they remained, the commissions only increased. In general, there will be no quality trade here.

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katexy69
2 years ago

I have been trading for real since 2021 with them. Everything suited. In November, I decided to withdraw part of the funds. In general, December is in the yard, but there is no money. Gentlemen, draw your own conclusions.

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isabellais2
2 years ago

So you are talking about the fact that the TD Ameritrade terminal broker is "unrealistically complicated". In fact, everything here is very well thought out, only this trading platform is more designed for professionals who know how to properly use analysis tools, heat maps, built-in calculators, filters and others. It will be very difficult for beginners to understand. Though…. For this, there is a support service where you can consult. The broker has recruited smart experts in its team, they will always help!

Jadi anda bercakap tentang fakta bahawa broker TD Ameritrade terminal "tidak realistik rumit". Sebenarnya, segala-galanya di sini sangat difikirkan dengan bijak, hanya platform dagangan ini lebih direka untuk profesional yang tahu cara menggunakan alat analisis dengan betul, peta haba, kalkulator terbina dalam, penyaring dan lain. Ia akan menjadi sangat sukar untuk pemula untuk memahami. Walaupun…. Untuk ini, terdapat perkhidmatan sokongan di mana anda boleh berunding. Broker itu telah merekrut pakar pintar dalam pasukannya, mereka akan sentiasa membantu!

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hannahie18
3 years ago

I think TD Ameritrade deserves, if not five stars, then 4 stars for sure. The first thing I noticed is that everything is fine with the rules, there is no minimum deposit requirement (if you don't take into account margin trading, where the entry threshold is quite high). So far, the broker has not damaged this effect. I didn't take out a huge amount, but I took out 300-400 dollars. Everything is good. Pretty fast and no commission. It would be nice if the company could also add debit cards to the list of available payment methods, as bank transfers are not that easy.

Saya fikir TD Ameritrade layak, jika bukan lima bintang, maka 4 bintang pastinya. Perkara pertama yang saya perhatikan ialah semuanya baik dengan peraturan, tiada keperluan deposit minimum (jika anda tidak mengambil kira perdagangan margin, di mana ambang kemasukan agak tinggi). Setakat ini, broker tidak merosakkan kesan ini. Saya tidak mengeluarkan jumlah yang besar, tetapi saya telah mengeluarkan 300-400 dolar. Segala-galanya adalah baik. Cukup pantas dan tiada komisen. Alangkah baiknya jika syarikat itu juga boleh menambah kad debit pada senarai kaedah pembayaran yang tersedia, kerana pindahan bank tidak begitu mudah.

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anitraegc5005710919
3 years ago

TD Ameritrade was my first broker so I have nothing to compare it to. Registered on this platform last month. A close friend recommended him, as he has been trading here for several years and is 100% sure of the honesty and reliability. I haven't made a profit from here yet, because I only earned 300 dollars. However, I can already note that in terms of trading comfort, this platform suits me completely. Execution of transactions is at a high level, commissions are sufficient (and if you trade stocks listed on the American exchange, then it is usually zero).

TD Ameritrade ialah broker pertama saya jadi saya tiada apa-apa untuk membandingkannya. Berdaftar di platform ini bulan lepas. Seorang rakan rapat mengesyorkannya, kerana dia telah berdagang di sini selama beberapa tahun dan 100% pasti akan kejujuran dan kebolehpercayaan. Saya belum mengeluarkan keuntungan dari sini lagi, kerana saya hanya memperoleh 300 dolar. Walau bagaimanapun, saya sudah boleh ambil perhatian bahawa dari segi keselesaan perdagangan, platform ini sesuai dengan saya sepenuhnya. Pelaksanaan transaksi berada pada tahap yang tinggi, komisen adalah mencukupi (dan jika anda berdagang saham yang disenaraikan di bursa Amerika, maka ia biasanya sifar).

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RobertLet
3 years ago

To enter Forex, TD Ameritrade offers a single platform - Thinkorswim. So do not look in the list of available MetaTrader, cTrader and other popular terminals. If you want to trade with leverage, then prepare $2,000. But you can start with any deposit, if you use only your own funds for trading. In general, there are a lot of instruments, I counted about 65 currency pairs. I trade only the main ones, so I can objectively assess the conditions only by them. TD Ameritrade has no hidden fees, all costs are included in the spread. There are not many payment methods available. I credited money from a bank account, they came the same day. Withdrawing less than $50 will not work. There is no affiliate program.

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gwendolynkq11
3 years ago

I have no complaints about the quality of trade execution against TD Ameritrade. At first I worried in vain that I would not deal with the company's copyright terminal. Yes, it has its own features and many functions, but everything is quite simple. And thanks to the expert advice of the support service, I usually adapt quickly. I have not tried the kind of passive income offered by the broker, although there are plans. I also heard from friends that the referral program is going well. I live an active life in the Internet space, so there is no problem with leads.

Saya tidak mempunyai aduan tentang kualiti pelaksanaan perdagangan terhadap TD Ameritrade. Pada mulanya saya bimbang sia-sia bahawa saya tidak akan berurusan dengan terminal hak cipta syarikat. Ya, ia mempunyai ciri sendiri dan banyak fungsi, tetapi semuanya agak mudah. Dan terima kasih kepada nasihat pakar perkhidmatan sokongan, saya biasanya cepat menyesuaikan diri. Saya tidak mencuba jenis pendapatan pasif yang ditawarkan oleh broker, walaupun terdapat rancangan. Saya juga mendengar daripada rakan-rakan bahawa program rujukan berjalan dengan baik. Saya menjalani kehidupan yang aktif dalam ruang Internet, jadi tidak ada masalah dengan petunjuk.

Score:
5.84/10

Trading Account Opening

You can start trading on the TD Ameritrade (Charles Schwab) platform after creating your personal account and opening a trading account. Below is a short step-by-step guide to getting started with a broker:

1

Before opening a trading account on the TD Ameritrade (Charles Schwab) platform, register on the Traders Union website. Opening an account through the traders Union rebate service will allow you to receive compensation for trading commissions in the future. Then, on the broker's main page, click the Open New Account button.

TD Ameritrade (Charles Schwab) Review — Open an account
TD Ameritrade (Charles Schwab) Review — Open an account
TD Ameritrade (Charles Schwab) Review — Open an account
2

In the registration form that opens, select the Individual account, and then enter your full name, email address, country, city and address of residence, zip code, and phone number. In addition to personal and financial information, you must provide a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). If you are not a citizen or permanent resident of the United States, you must provide your foreign taxpayer identification number, passport details, or visa number. The required field is the name, address, and telephone number of your employer (if you are employed). All specified data must be confirmed by providing scanned copies of the above documents. 

3

The main features of the TD Ameritrade (Charles Schwab) personal account:

1. Account replenishment and money transfer between open accounts: 
TD Ameritrade (Charles Schwab) Review — Account funding and transferring money between accounts
TD Ameritrade (Charles Schwab) Review — Account funding and transferring money between accounts
2. View complete trade and financial statistics: 
TD Ameritrade (Charles Schwab) Review — Keep a keen eye on the trade and financial statistics
TD Ameritrade (Charles Schwab) Review — Keep a keen eye on the trade and financial statistics
1. Account replenishment and money transfer between open accounts: 
TD Ameritrade (Charles Schwab) Review — Account funding and transferring money between accounts
TD Ameritrade (Charles Schwab) Review — Account funding and transferring money between accounts
2. View complete trade and financial statistics:
TD Ameritrade (Charles Schwab) Review — Keep a keen eye on the trade and financial statistics
TD Ameritrade (Charles Schwab) Review — Keep a keen eye on the trade and financial statistics

Also in the personal account, a trader can:

  • Connect to a web terminal for trading through a browser on a desktop or mobile device.

  • View training materials. They are grouped by asset class to quickly find the information you need.

  • Track trending news and trading ideas.

Score:
8.4/10

Regulation and safety

Information

The TD Ameritrade (Charles Schwab) broker, a subsidiary of the financial holding Charles Schwab Corporation, is registered under the trademark TD Ameritrade (Charles Schwab), Inc. The activities are supervised by FINRA, the US Financial Services Regulatory Authority.

TD Ameritrade (Charles Schwab) is a member of the SIPC (Securities Investor Protection Corporation), which protects broker clients up to $500,000 (including $250,000 in case of cash claims). SIPC payments are only available on securities accounts. It is not Corporation policy to protect accounts that are used for cryptocurrency trading.

Advantages

  • Segregated accounts are used to store customer funds
  • In case of violations by the broker of the offer, the trader can file a claim with the regulator
  • Availability of insurance policy

Disadvantages

  • The regulator limits the choice of available payment systems
  • Full verification of the client's personal and billing information is required
Score:
8.2/10

Commissions and fees

Information
Regardless of the account balance and the number of securities purchased, Ameritrade does not deduct fees from clients for trading in US stocks, domestic and Canadian ETFs, and options. Options trading is charged a fee of $0.65 per contract. Futures and options futures carry a commission of $2.25 per contract (plus exchange and regulatory fees). OTC trades that include non-US stocks are subject to a $6.95 fee. TD Ameritrade (Charles Schwab) does not charge a fee to open an account, platform provision, market data supply, inactivity, deposit, or the withdrawal of funds.
Account type Spread (minimum value) Withdrawal commission
Standart From $1.65 No

The broker does not withhold commissions for non-trading operations; however, they can be charged by banks that accept and send payments. Traders Union analysts compared the average trading fees for equities and ETFs from Ameritrade and other popular stock brokers. Based on these assets, all three companies enable traders to trade with zero commissions.

Broker Average commission Level
$1.65
High
$0.53
Low
$1
Medium
Score:
6.77/10

Account types

TD Ameritrade (Charles Schwab) offers standard trading, investment, retirement, savings, and specialized accounts. To start trading with stock market instruments, a trader needs to open a Standard account.

Account types:

Account Type
Description
Standard account
Used for active trading. The line of standard accounts includes Cash; Cash and Margin; Cash and Option; Cash, Margin, and Option. You can open one or all of them free of charge. The minimum deposit for cash accounts is $0. Margin trading is available for deposits from $2,000. The margin provided by the broker doubles the purchasing power compared to a traditional money account and can be used by a trader both for trading and/or investing and for personal needs.
Managed portfolios
Used for investing in managed portfolios. This type of account is described in detail above, in the "Investment programs" section.

The broker provides a demo account called PaperMoney but only through the Thinkorswim trading platform. TD Ameritrade (Charles Schwab) offers a vast array of trading accounts with various functions, which allows traders with any experience and available capital to successfully trade.

Score:
8.1/10

Deposit and withdrawal

  • The broker offers the following methods for depositing and withdrawing funds from accounts: electronic bank transfer via ACH (Automated Clearing House) or wire transfer, transfer of assets from another brokerage company, by check via a mobile application or email, physical certificates of shares.

  • Withdrawals through ACH are commission-free.

  • Additional commissions can be charged by the bank to the sender, the intermediary, and/or the recipient.

  • Verification is a prerequisite for the ability to perform financial transactions on accounts.

  • The terms for crediting funds on the broker's website are not indicated.

Score:
6.12/10

Investment Options

The Ameritrade broker allows its clients not only to trade securities but also to invest free capital in stocks, options, ETFs, mutual funds, IPOs, and annuities. The company has developed a range of diversified portfolios managed by investment professionals. Also, TD Ameritrade (Charles Schwab) customers can invest in pensions, special instruments (includes trusts, limited partnerships, small businesses, charitable organizations, etc.), and other accounts for further education.

Selective and managed portfolios

TD Ameritrade (Charles Schwab) invites its clients to invest in managed portfolios and thus diversify possible financial risks. If you want to invest in portfolios, you need to answer several questions regarding the investment goal, risk tolerance, and the planned timing of the placement of funds. Based on the data obtained, TD Ameritrade (Charles Schwab) Investment Management specialists recommend a specific investment solution. Types of portfolio solutions:

  • Selective portfolios. Target portfolios composed of ETFs and mutual funds, adapted to different investment objectives and risk levels, with constant rebalancing and monitoring. Designed for long-term investors looking for more sophisticated strategies and practical expert advice. The minimum investment amount is $25,000. The consultation fee is 0.75-0.90% for the first $100,000, depending on the portfolio and the amount of investment. The investor is provided with a financial advisor and a dedicated support team that regularly provides reports on the effectiveness of the chosen strategy. Also, the investor can track the profitability through a convenient online dashboard.

  • Personalized portfolios. Personalized portfolios are targeted at long-term investors who want personalized advice and asset management services. Account-holders who have invested over $250,000 are assigned a personal finance and portfolio advisor. A comprehensive digital dashboard allows you to track all available investments, goals, and performances not only for TD Ameritrade (Charles Schwab) accounts but also for accounts opened at other financial institutions. The commission fee is 0.60-0.90%. 

TD Ameritrade (Charles Schwab) offers investment solutions not only to clients with accumulated experience of passive investments but also to newcomers who need professional support and sound advice.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

TD Ameritrade’s (Charles Schwab) affiliate program

  • Referral program. A partner receives $50 for each attracted client who deposited $3,000 within 90 days from the date of opening an account. A partner can link a maximum of 10 friends and family members per day, but no more than 50 referrals per month.

Not only a partner but also a referral can get from 150 to $1,000 to the account if they top it up with $50,000 or more. The offer is not available for individual retirement accounts (IRA) or for other accounts that are not taxed.

Score:
8/10

Customer support

Information

Account service and support are available 24/7, with technical support available Monday through Friday, from 7:00 am to 6:00 pm ET.

Advantages

  • It is possible to contact the technical support via the trading platform
  • Multilingual support

Disadvantages

  • There is no online chat on the site
  • There is no 24/7 technical support

You can contact the broker's representatives using:

  • calls to international phone numbers specified in the Contact Us section;

  • fax;

  • feedback forms;

  • messengers via Facebook or Twitter;

  • teletype (a service for people with hearing impairments);

  • chat in the trading platform (the function is available in Next-Gen Web Platform, TD Ameritrade (Charles Schwab) Mobile, Thinkorswim (desktop and mobile);

  • personal visit to one of the company's 175 offices in the United States.

Both customers with active accounts and users who are not registered on the company's website can ask for help from technical support specialists.

Contacts

Foundation date 1975
Registration address 200 S 108th Ave, Omaha, NE, USA
Regulation FINRA, SIPC
Official site tdameritrade.com
Contacts
800-454-9272
Score:
8.5/10

Education

Information

The broker's website has an extensive section on training. Here, a novice trader will find information on the basics of trading in the stock and OTC market, as well as news, useful articles, and a detailed analysis of trading and investment accounts.

Information provided in the Education section
Information that is not included on the TD Ameritrade (Charles Schwab) website
Materials about technical and fundamental analysis to predict the market situation
Glossary of stock market terms in alphabetical order
Market news
Trading psychology
Online courses on trading different asset classes, retirement planning, income investing
Descriptions of risk management principles
Educational articles, videos, broadcasts, podcasts
 
Information on how to save strategies and competent distribution of personal finances
 
Description of accounts and investment products
 

Traders can solidify theory into practice by opening and practicing on a demo account on the Thinkorswim platform.

Detailed Review of TD Ameritrade (Charles Schwab)

TD Ameritrade (Charles Schwab) is a US-regulated broker that provides its clients with access to the exchange, over-the-counter (OTC), and foreign exchange markets. The company offers a vast array of investment products, including savings and trust accounts, small business plans, and personalized asset portfolios. TD Ameritrade’s (Charles Schwab) trading platforms are primarily designed for experienced market participants, but a simplistic and user-friendly interface allows novice traders to work with them.

On the success of TD Ameritrade (Charles Schwab) in numbers:

  • Over 46 years of experience in the financial sector and over 23 years in the online services industry.

  • More than 175 brick-and-mortar branches of the company operate in the USA.

  • More than 11 million clients have opened accounts.

  • The total amount of client assets exceeds $1 trillion.

  • Every day, clients make about 500,000 transactions on average.

Ameritrade has a wide range of analytical instruments

Ameritrade is committed to providing a best-in-class experience for independent investors and traders. Clients have free access to in-depth analytics from renowned independent vendors such as Morningstar, CFRA (S&P Capital IQ), and TheStreet. The broker supplies advanced Nasdaq TotalView quotes of the second level and offers unique tools for tracking potentially profitable assets.

A vast array of trading platforms are available to traders with TD Ameritrade (Charles Schwab) accounts. The broker's clients can make transactions in the Web Platform (classic version and more advanced platform of the next generation) and through the applications of TD Ameritrade (Charles Schwab) Mobile. Futures and currency pairs are traded through the Thinkorswim terminal, but they can also be used to trade the stock market and OTC assets.

Useful TD Ameritrade (Charles Schwab) services: ‌

  • Market heat map. An interactive map displays the dynamics and quotes of the main stock indices around the world.

  • Ticker Tape. Up-to-the-minute market analysis and trend reports, brand-new insights from TD Ameritrade (Charles Schwab) experts, and insights from third-party industry professionals.

  • Market Edge. Technical analysis, ratings of thousands of assets, as well as commentary and guidance on stock markets, bond markets, portfolio management, and specific investment opportunities.

  • Screener. A tool to find stocks, options, mutual funds, or ETFs that match user-specified criteria.

Advantages:

1

Trading is possible from installed desktop and mobile applications. Also, the browser app does not require traders to download software onto their devices as long as they are connected to the internet.

2

The broker provides top-notch streaming news, market data and free Nasdaq Level II quotes.

3

Clients receive optimal trading conditions for individual assets.

4

There is a low fee for consulting investment experts on target portfolio management.

5

Customer funds are held in bank accounts that are segregated from the capital of the broker.

The broker does not charge a fee for opening an account, providing platforms, supplying market data, inactivity, or depositing and withdrawing funds.

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