How to Buy Crypto With TD Ameritrade [2024]

Summary: While TD Ameritrade does offer indirect exposure to cryptocurrencies through OTC trusts, mutual funds, and ETFs, as well as Bitcoin futures, it doesn’t provide customers with direct access to individual cryptocurrencies. Instead, TD Ameritrade customers can connect their bank accounts to a third-party crypto broker like eToro to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH).

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

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Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Can you buy crypto on TD Ameritrade? 

Unfortunately, you can’t buy or trade cryptocurrencies on TD Ameritrade directly. Although it offers various products to gain indirect exposure to cryptocurrencies, you will need to connect to a FINRA-licensed cryptocurrency exchange to buy the underlying digital assets themselves.

How to buy crypto with TD Ameritrade?

An alternative broker to TD Ameritrade that offers cryptocurrencies in the US is eToro. This is a widely trusted multi-asset investing platform with over 70 cryptocurrencies. These include major digital currencies Bitcoin (BTC), and Ethereum (ETH), as well as Dogecoin (DOGE) and other crypto coins.

Furthermore, the platform also offers unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders. It also offers a custom watchlist, as well as advanced charts and technical analysis tools.

How to buy crypto with TD Ameritrade: Step-by-Step

You can get started with TD Ameritrade on eToro in minutes with four simple steps:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the USD amount you want to deposit on the eToro platform;
• Step 3: Connect your bank account to deposit your selected fiat currency;
• Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.

Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

About TD Ameritrade

TD Ameritrade is an online broker that offers a comprehensive selection of financial instruments, including $0 commissions on online stock and ETF trades. The financial services company is headquartered in Omaha, Nebraska, US, and its parent company is Charles Schwab Corporation. 

Products offered by TD Ameritrade include: 

• Investments: Stocks, bonds, options, futures, ETFs, mutual funds, forex, foreign ADRs, IPOs for clients that qualify, as well as products with indirect exposure to crypto, such as Bitcoin futures;
• Educational content: Third-party research from highly respected sources, including the Federal Reserve Economic Database, Center for Financial Research and Analysis, Reuters, and Morningstar; “thinkorswim” trading platform, combining top-tier research tools, screening functions, and financial calculators as well as backtesting capabilities. 

TD Ameritrade crypto trading

TD Ameritrade trading platform doesn’t currently offer trading individual cryptocurrencies. However, they do provide various ways to get indirect exposure to the cryptocurrency market:

OTC Trusts: customers can invest in shares of companies holding large amounts of cryptocurrencies, trading over-the-counter (OTC) like closed-end funds;

Mutual Funds and ETFs: customers can get indirect exposure to cryptocurrencies by investing in mutual funds and ETFs that invest in Bitcoin futures;

Bitcoin Futures: you can invest in Bitcoin futures with TD Ameritrade through Chicago Mercantile Exchange (CME). This option, however, requires your account to be approved for futures trading first – you can find more information on TD Ameritrade’s website. 

TD Ameritrade crypto policy

While TD Ameritrade does provide exposure to the crypto market through products like Bitcoin or Ether futures, it doesn’t offer customers the chance to trade individual cryptocurrencies directly from its platform. 

Luckily, TD Ameritrade crypto investors wanting to purchase digital assets can do so by going through FINRA-registered crypto brokers, such as eToro. 

TD Ameritrade trading fees

TD Ameritrade crypto users can indirectly invest in digital currencies through OTC trusts, ETFs, and Bitcoin futures on its platform without needing a crypto wallet. However, it can be costly, with TD Ameritrade’s trading fees sometimes exceeding 2% of the investment. Furthermore, crypto futures are leveraged products that may result in losing more than you invested. The TD Ameritrade website provides more information on their trading fees.

We recommend using a third-party investment broker, such as eToro, for the most secure and convenient method, with lower fees and adherence to regulatory standards. eToro charges a fee of 1% for trading crypto, included in the market price (bid-ask spread) when opening and closing a position. However, account for the hidden fees, such as the overnight fees, a flat withdrawal fee of around $5, and a small conversion fee, if applicable. eToro’s trading fees may change at any time, so users should check the latest fees on the eToro website before trading.

Additionally, using TD Ameritrade as a payment method may result in additional charges from the user’s bank, so it is best to contact the bank directly before investing in cryptocurrencies to avoid any unexpected fees.

Is buying crypto safe?

Cryptocurrencies are still a relatively untested financial tool and are particularly susceptible to volatility. In addition, the crypto market is rife with scams, frauds, and scandals, further demonstrating that you should enforce caution before entering its realm. 

Furthermore, although cryptocurrency broker-dealers in the US are required to register with FINRA, which imposes several requirements on them, including implementing and maintaining both anti-money laundering (AML) and customer identification programs (CIPs), crypto assets themselves are not regulated. 

Tips on how to buy crypto safely

There are steps you can take to ensure you’re being careful when buying crypto. Therefore, let’s look at a few tips on what you should do when starting with digital assets and how to best protect yourself and your money:

• Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are; 
• Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record;
• Secure your account: Use two-factor authentication and a strong password to protect your account;
• Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about how to buy crypto with TD Ameritrade 

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD