Let me chip-in. I started investing for the first time ~2 years ago and after evaluating many options I decided for TW. Through research I knew that IB and other options were cheaper after reaching a certain amount of money invested (there’s actually a good post in this same website), but for me personally TW had a lot of advantages:
IB is cheaper only if you are ready to lump-sum invest large amounts. With TW you can use dollar-cost-averaging and the fees are included in the 0.5%. Since I wanted DCA for the peace of mind it gives me (I know that lump-sum is actually better, but it was my first time investing and with DCA I feel more confident in case of a big crisis). With TW I can DCA relative small amounts without paying exorbiting fees.
At the time I wasn’t sure if I was ever goint to pass the threshold were IB and other brokers are cheaper than TW, and even if it was, it wouldn’t have been for some years.
TW gave me the confidence also regarding taxes. I had never invested and had no idea how to file taxes, and no one to ask for (without paying). With TW I get a document and instructions for how to file my taxes.
The company made me a great impression. Before investing I have sent an email called “2 questions about investment start and fees”; it ended up being a 50+ email conversation about all the questions I had. The support was amazing in answering all my questions, and it continued even after I invested with them. The guy from support even invited me to grab a coffee, and I was only investing the minimum to join them, I am not a big fish or anything like that.
If you want you can create your own portfolio (it’s what I did), I asked them a list of their ETFs and picked the ones I wanted in their app. My total cost is 0.61% if I am not wrong. In my personal opinion ok for my situation described above.
TW definitively helped me pull the trigger on investing for the first time by giving a lot of confidence. I can not recomend it enough if you are in a similar situation. If you are a seasoned investor with relatively high amounts to invest, ready to lump-sum it, then go with IB or other brokers. If you’re relatively new, want to DCA and/or in general don’t plan to invest that much, then TW is a good alternative, at least for starting out.
p.s. if anyone is interested write me for the referral, someone already mentioned it, it’s 50% off on 1 year of fees, so only 0.25% + your TER.