TD Ameritrade Review: ETF Features
If you're researching TD Ameritrade in 2026, the headline is that it's gone: Schwab finished absorbing it. The good news is that thinkorswim survived the merger. Here's the full picture.
Don't have time? Here's what you need to know:
- 1TD Ameritrade was acquired by Charles Schwab; all accounts have migrated and it no longer takes new clients.
- 2thinkorswim survived the merger and is still available at Schwab for charting, screening, and options analysis.
- 3Commission-free ETF trading and no standard account fees carried over unchanged — an ETF's cost is its expense ratio, not the broker.
- 4If you're choosing a broker today, evaluate Schwab (plus Fidelity and Vanguard), not TD Ameritrade.
First Things First: TD Ameritrade Is Now Part of Schwab
Charles Schwab announced its acquisition of TD Ameritrade in late 2019 and closed the deal in 2020. Over the following few years Schwab migrated TD Ameritrade's client accounts onto its own platform in waves, and the transition is complete. If you open a brand-new account today, you are opening it at Schwab — TD Ameritrade no longer accepts new customers and the old website redirects accordingly.
That makes a 2026 TD Ameritrade review less a buying decision and more a question of what carried over. For ETF investors the answer is reassuring: the features that made TD Ameritrade attractive — commission-free trades on U.S.-listed stocks and ETFs, a large no-transaction-fee fund lineup, and the thinkorswim platform — all live on inside Schwab. You are not losing the toolkit; you are accessing it under a different brand.
Tip: If you had a TD Ameritrade login that stopped working, your account was almost certainly moved to Schwab rather than closed. Check Schwab's site or contact Schwab support before assuming anything was lost.
thinkorswim Survived — and That Matters for Active ETF Traders
thinkorswim was TD Ameritrade's standout product: a desktop, web, and mobile trading platform built for active traders, with deep charting, an options analysis suite, paper trading, and customizable scans. The biggest open question during the merger was whether Schwab — historically known for a simpler interface — would retire it.
It did not. Schwab kept thinkorswim and now offers it alongside its own Schwab.com platform. An ETF investor who valued thinkorswim for screening funds, charting relative performance, or analyzing options on ETFs like SPY or QQQ can still do all of that. If your interest in TD Ameritrade was really an interest in thinkorswim, that interest is fully served at Schwab.
The ETF Features That Carried Over
TD Ameritrade was an early mover in dropping commissions on U.S. stock and ETF trades, and Schwab matches that — you pay no commission to buy or sell exchange-listed ETFs. Both brokers also offered large lineups of no-transaction-fee mutual funds and a broad selection of commission-free ETFs across asset classes.
The practical takeaway is that the cost structure an ETF investor cares about is essentially unchanged. What you pay to own an ETF is its expense ratio, set by the fund issuer, not the broker — a fund like VTI charges 0.03% whether you hold it at Schwab, Fidelity, or anywhere else. The broker's job is to give you cheap, reliable access, and that survived the merger intact.
| Feature | Old TD Ameritrade | Now at Schwab |
|---|---|---|
| ETF commissions | $0 on U.S.-listed | $0 on U.S.-listed |
| thinkorswim platform | Yes | Yes (retained) |
| Fractional shares | No (stock only, limited) | Yes (Schwab Stock Slices) |
| Account fees | $0 standard | $0 standard |
| New accounts | Closed to new clients | Open at Schwab |
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What This Means If You're Choosing a Broker Today
Because TD Ameritrade is no longer a destination, the real decision is whether Schwab suits you — and for buy-and-hold ETF investors, it generally does. You get zero-commission ETF trading, thinkorswim if you want depth, Schwab's own well-regarded index ETFs such as SCHB and SCHD, and fractional-share investing through Schwab Stock Slices, which TD Ameritrade never fully offered.
The honest bottom line: don't spend time evaluating TD Ameritrade as a live option. Evaluate Schwab, Fidelity, and Vanguard as the major low-cost, full-service brokers, and treat thinkorswim as a reason Schwab might edge ahead if you trade actively. The brand you remember is gone, but the substance behind it is not.
Important: Be cautious with old TD Ameritrade tutorials, screenshots, and promo offers still floating around online — they describe a platform that no longer accepts new customers. Verify any current detail against Schwab directly.
Frequently Asked Questions
Does TD Ameritrade still exist in 2026?
No. Charles Schwab acquired TD Ameritrade and completed the migration of all client accounts onto Schwab's platform. TD Ameritrade no longer operates as a standalone broker or accepts new customers — if you want what it offered, you open an account at Schwab.
What happened to my TD Ameritrade account?
Existing TD Ameritrade accounts were transferred to Schwab in scheduled waves, with positions, cost basis, and history carried over. If your old login stopped working, your account was almost certainly moved rather than closed. Contact Schwab to access it.
Is thinkorswim still available?
Yes. Schwab kept the thinkorswim desktop, web, and mobile platforms rather than retiring them. Active traders and ETF investors who used thinkorswim for charting, screening, paper trading, and options analysis can continue to use it at Schwab.
Should I open a TD Ameritrade account for ETFs?
You can't — it's closed to new clients. The equivalent today is Schwab, which offers commission-free ETF trading, thinkorswim, Schwab's own low-cost ETFs like SCHB and SCHD, and fractional shares. Evaluate Schwab, Fidelity, and Vanguard rather than TD Ameritrade.
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Alex Harrington
CFA Level II Candidate, Finance & Economics
Alex Harrington is an independent ETF researcher and personal finance writer with over 8 years of experience analyzing exchange-traded funds. A CFA Level II candidate with a background in economics, Alex has reviewed 800+ ETFs and helped thousands of beginners build their first investment portfolios through clear, jargon-free education.
This content is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Consult a licensed financial advisor before making investment decisions.