TD Ameritrade
American online broker / From Wikipedia, the free encyclopedia
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TD Ameritrade was a stockbroker that offered 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.[3] The company received revenue from interest income on margin balances, commissions for order execution, and payment for order flow.
Company type | Subsidiary |
---|---|
Industry | Financial services |
Founded | 1971; 53 years ago (1971) (as Ameritrade) |
Headquarters | Omaha, Nebraska, United States |
Key people | Joe Ricketts (Founder) Steve Boyle (Interim President and CEO) |
Services | Stockbroker Electronic trading platform |
Revenue | $4.358 billion (Q3 2020) |
$1.930 billion (Q3 2020) | |
$1.393 billion (Q3 2020) | |
AUM | $1.3 trillion (2020)[1] |
Total assets | $54.394 billion (Half 2020) |
Total equity | $9.568 billion (Q3 2020) |
Owner | Charles Schwab Corporation |
Number of employees | 8,939 (2020) |
Parent | TD Ameritrade Holding Co. |
Subsidiaries | Thinkorswim, Thinktech, TD Ameritrade Network, Scottrade |
Website | www |
Footnotes / references [2] |
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 were fully absorbed and integrated with those of Schwab by May 2024, including former legacy Scottrade brokerage accounts. Its operations are being moved to the Charles Schwab headquarters in Westlake, Texas.