Any alternatives to the low rates on TD Ameritrade's Money Market Deposit Account (MMDA)?

According to http://www.tdameritrade.com/ratesfees.ht... the rates are very low. Do they offer any alternatives? Or do I need to buy into a real money market fund or something?

TD Bank USA, N.A. Money Market Deposit Account Rates

Dollar Range Interest Rate Annual Percentage Yield
$0.01-$4,999 0.04999% 0.05%
$5,000-$24,999 0.04999% 0.05%
$25,000-$99,999 0.09995% 0.10%
$100,000-$199,999 0.99545% 1.00%
$200,000 and above 1.24290% 1.25%

TD AMERITRADE Cash Rates


Dollar Range Interest Rate Annual Percentage Yields
$0.01-$1,999 0.00% 0.00%
$2,000-$9,999 0.04999% 0.05%
$10,000-$24,999 0.04999% 0.05%
$25,000-$99,999 0.09995% 0.10%
$100,000 and above 0.49886% 0.50%

Effective February 1, 2008.

"Don't give your broker a free loan, MSN Money, 2/1/2007

TD Ameritrade Holding (AMTD, news, msgs) pays just 0.1% on cash balances of up to $5,000 if you don't ask them to give you a better deal. For cash balances up to $25,000 they pay just 0.4%. Up to $100,000 they pay 1.65% -- even though the going return on money market mutual funds is around 4.8%. Ameritrade gathered $185 million in revenues by paying clients so little on their idle cash and then "sweeping" it into an account run by a banking partner, where the money earned Ameritrade a much higher rate. On average, clients held $5.7 billion a day in cash during Ameritrade's last fiscal year, which ended Sept. 30."

http://articles.moneycentral.msn.com/Inv...

Yes there is an alternative:

Read stories from reporters that actually do research before they print garbage.

You have to call TD to change your MM choice - see the link below for alternatives.

ps: you can get these MM rates for IRAs. If they tell you you're not qualified then check and make sure all your accounts are linked.

You may want to check out emigrantdirect.com which is offering 4.05% and check out bankrate.com for current rates. There are a whole bunch of internet only products (that you have to link to your checking) that offer higher rates. Schwab has a high rate checking as well.

Bruce Williams says savings accounts ( and I include money market) are obsolete. In this day and age, invest your money in equity mutual funds and get a credit card for the emergency money. If you have to use the card in an emergency, you don't have to pull if from your investments (especially in a down market). and you can pay it back by working a little extra.
Not exactly what you asked, but I am not sure why you would need to give money away like that.

May want to check out what is called PPN's, Principal Protected Notes. They basically assure you of keeping whatever you put into the investment. They typically use the interest you would earn to purchase an exotic derivative that gives you an opportunity to gain significanly more that a money market fund. Talk to your broker/dealer they should have some in stock. There are some setbacks like you may be locked in for a certain timeframe. Be very careful with fee's and look for distribution probabilities (chances of sucess).
These seem to be a good option with much more upside potential.

You have to go shopping. There are so many on line trading and investment company's. I use one that gives me a 4.5% return on moneys that I'm not useing in trade (buying or selling of stocks). Those rates are wrose than a savings acct. Make sure your reading the return rate correct. Look around you might find some has high has 6%. But? are you saving or investing and what do you want your money to do for you.Money rule of 72....take your return (3%) divied it into 72 your answer will be how long it will take for your money to dbbl. 3/72= 24 yrs. thats just letting the interest to agrue (compound)