TD Ameritrade

TD Ameritrade is a stockbroker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, forex, options, mutual funds, fixed income investments, margin lending, and cash management services. The company receives revenue from interest income on margin balances, commissions for order execution, and payment for order flow. The company was founded as Ameritrade in 1971. In 2006, it acquired the United States operations of TD Waterhouse from Canadian holding company TD Bank Group and was renamed TD Ameritrade, with TD Bank Group holding a significant ownership stake in the resulting combined company. In September 2017, the company acquired the main brokerage business of Scottrade, and converted all of their client assets and accounts to TD Ameritrade; the Scottrade Bank subsidiary along with associated checking and savings accounts were folded into TD Bank Group's U.S. subsidiary TD Bank, N.A., making the Scottrade brand cease to exist. In 2020, TD Bank Group sold TD Ameritrade to Charles Schwab Corporation. TD Ameritrade's investment services and accounts are now scheduled to be fully absorbed and integrated with those of Schwab by the year 2023, including but not limited to former legacy Scottrade brokerage accounts. Its operations are in the process of being moved to the Charles Schwab headquarters in Westlake, Texas. History In 1975, the Securities and Exchange Commission banned the practice of fixed brokerage commissions. Joe Ricketts and three partners opened First Omaha Securities, Inc. in Omaha, Nebraska.