TD Ameritrade Full Of Firsts…Until Now
TD Ameritrade has a history of being first in its field. TD Ameritrade was the first to trade over touch-tone phone, the first to trade over the internet and the first to offer mobile device trading.
In December of 2017, TDAmeritrade, became the first financial services firm to offer approved clients access to bitcoin futures contracts.
Then in January of 2018, TD Ameritrade became is the first U.S. retail broker dealer to enable investors to access equity markets all night long.
TD Ameritrade clients can now buy or sell select popular ETFs, such as SPY, EEM, GLD, SLV, DIA, UNG, TLT, IWM, QQQ, USO and certain company stocks like Apple and Amazon from 8 p.m. ET Sunday to 8 p.m. ET Friday. But TD Ameritrade also had a hidden agenda…to ease retail traders into the idea of trading cryptocurrencies 24 / 7.
In 2018, TD Ameritrade launched its Content Intelligence Platform (CIP), becoming the first in the financial services industry to design a CIP specifically for financial education. The platform leverages artificial intelligence (AI) to provide customized learning experiences for clients utilizing their nearly 500 videos, 7 courses and more than 2,000 articles. CIP will learn clients’ preferences and suggest related articles and videos.
As you can see TD Ameritrade is full of first, but they were outdid recently. Charles Schwab said Tuesday that it’s cutting stock trading commissions to zero and joined Interactive Brokers' zero-fee stock trading service in the race to please the customer “by any means” necessary.
Schwab going to zero commissions on stock trades follows Robinhood’s debut and rapid growth built on commission-free stock trades. Others have joined the commission-free party to varying degrees.
“It’s the right move from a competitive standpoint,” Schwab Chief Financial Officer Peter Crawford said in a blog post Tuesday. “We are seeing new firms trying to enter our market — using zero or low equity commissions as a lever.
“We’re not feeling competitive pressure from these firms — yet,” Crawford said. “But we don’t want to fall into the trap that a myriad of other firms in a variety of industries have fallen into and wait too long to respond to new entrants.”
So where is TD Ameritrade heading next, lets go to the charts?
Price is currently in a monthly demand zone.
Moving to the daily time frame, I love the daily demand at $32.50 within the monthly demand.
I have gotten so much better at reading price action. Although the chart suggest to go long at the daily demand, wait for momentum to reverse. One great momentum indicator is the RSI. Once the indicator goes above 40, you have permission to go long during a pull back as long as the RSI remains above 40.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
Wow! Great News about these brokerages going to zero commissions. I wonder where they will make it up? The spread? Pay for order glow? Hmmm?
I hope TD America. Does this. I would love to Trade on Sink or Swim for free!
By the way if you want to refer a friend to Steemit I suggest using the interface at Travelfeed.io
They made the sign up process look like popular social media sites and provide 15 SP for new signups.
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Not quite sure, I'm doing some research as a follow up and will probably put out a post regarding my findings.
I think they are headed to buying someone else or merging to survive! It is a race to the bottom and only having commissions will not be a viable business model long term.
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Yeah, I'm actually done research now to see what the impact is and will put it in a post soon.