Are there any restrictions when buying crypto on TD Ameritrade?

3 answers

• Dec 30, 2021 · 3 years ago
  When buying crypto on TD Ameritrade, there are a few restrictions and limitations to keep in mind. Firstly, TD Ameritrade only offers Bitcoin futures trading, which means you can only trade Bitcoin futures contracts and not actual cryptocurrencies. Additionally, TD Ameritrade requires you to have a minimum account balance of $25,000 to trade Bitcoin futures. It's also worth noting that TD Ameritrade may have certain trading hours or limitations on the number of trades you can make per day. It's important to review TD Ameritrade's terms and conditions and consult with their customer support for more specific information.
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• Dec 30, 2021 · 3 years ago
  Yes, there are restrictions when buying crypto on TD Ameritrade. TD Ameritrade currently only offers Bitcoin futures trading, which means you can't directly purchase cryptocurrencies like Bitcoin or Ethereum on their platform. Instead, you can trade Bitcoin futures contracts, which are derivative products based on the price of Bitcoin. These contracts allow you to speculate on the future price of Bitcoin without actually owning the underlying asset. It's important to understand the difference between trading Bitcoin futures and buying actual cryptocurrencies before getting started.
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• Dec 30, 2021 · 3 years ago
  As of now, TD Ameritrade only provides access to Bitcoin futures trading. This means that you can't buy or sell actual cryptocurrencies like Bitcoin or Ethereum on their platform. Instead, you can trade futures contracts that track the price of Bitcoin. If you're looking to buy and hold cryptocurrencies or trade a wider range of digital assets, you may want to consider using a dedicated cryptocurrency exchange like BYDFi. BYDFi offers a broader selection of cryptocurrencies and allows you to directly buy and sell them, giving you more flexibility and control over your investments.
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