Features
  • Trading Technology Rated #1 by Barrons.
  • No additional commission on stocks under $2, large-size orders and extended hours trading
  • Best trading platform in the industry
  • Free virtual trading
  • Exclusive access to CNBC Plus directly within thinkDesktop
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thinkorswim User Review Author: 01 March 2013

Overall Rating

Recommends thinkorswim for:

  • Active Trading
  • Penny Stock Trading
  • Short Selling
  • Options Trading

All traders can opt for thinkorswim for its great customer service and their versatile, powerful, customizable trading platform. Thinkorswim has higher commissions that its comepetitors which is the only drawback and could make taders think twice before giving a nod, but one should keep in mind that there are basically no additional fees, and lots of free services, for which other companies charge. The navigation and the ease to find data, complements the design of the site really well.

For detailed information, browse through our detailed reviews below.

What Type of Accounts you can open with thinkorswim?

thinkorswim by TD Ameritrade, gives a lot of options for clients to open an account. Most popular being individual account. The list of all accounts available with thinkorswim is:

  1. Individual
  2. Joint Tenants
  3. Community Property
  4. Tenants by the Entireties
  5. Guardianship or Conservatorship
  6. Retirement Accounts : Traditional IRA | Roth IRA | Rollover IRA | SEP IRA | SIMPLE IRA |
  7. Education Savings Accounts: 529 | Coverdell ESA | UGMA/UTMA |
  8. Specialty Investing Accounts: Trust | Limited Partnership | Investment Club | LLC | Sole Proprietorship | Corporate | Non-Incorporated Organization | Pension or Profit Plan for Small Business |

thinkorswim offers the following selection of investing products:

  1. Options
  2. Futures
  3. FOREX
  4. Stocks
  5. Mutual Funds
  6. Exchange Traded Funds (ETFs)
  7. Bonds, Options
  8. CDs
  9. Unit Investment Trusts
  10. Real Estate Investment Trusts (REITs)

thinkorswim’s Fees & Commissions

thinkorswim charge higher than average commissions, but commissions are flat-rate and there are no surcharges: the same rate applies to all trades, including penny stocks, extended hours orders, and large orders. For stock traders, there are two plans, one is the flat-fee rate of $0.15 per share with $5.00 minimum which basically is custom-designed for active traders and institutional investors. For options traders, there are three plans, the first is for traders who execute less than 5 contracts per order in which case, thinkorswim charges, the lesser of $2.95 per contract or $9.95 plus $1.50 per contract, the second plan is custom-designed for investors trading atleast 5 contracts per order in which case, thinkorswim charges $1.25 per contract with a minimum of $12.95. Active option traders obviously get charged lower commissions, with traders who trader up to 16 contract per order, the commissions being $.95 per contract ($19.95 minimum). For mutual funds, you can trade the first three funds free each month, after which the traders get charged $15 per trade. It is clear that the commissions are higher than average, but the quality of the trading platform, the research, and the customer service will always keep your problems at bay.

thinkorswim’s Tools and Platform Performance

Thinkorswim offers one of the best trading platforms on the market right now! It's well designed, intuitive and customizable. Entering and executing orders is fast. It has many advanced features which only experienced traders will truly appreciate. Charts are second to none - everything you might want is included for free. The company provides live CNBC news, a scan tool for finding stocks that meet certain criteria, a watch page that keeps track of things like dividend dates and stock splits, as well as spread / stock hacker tool. There are also live broadcasts from the S&P 500 pit as well as Shadow Trader. One of the finest features of Thinkorswim is their Analysis tab. It allows you to instantly view an active risk graph that will exactly show the most probable look of any trade setup. In addition to this, it will also instantly show the latest risk graph about any planned adjustments to the current trades you might want to make. This is usually the kind of things that go together with proprietary software, which is always very expensive.

thinkorswim's Mobile Platform

thinkorswim has an excellent apps for iPhone, iPod Touch, Blackberry or Pocket PC thinkorswim Mobile bring all your favorite trading features to your device which is a one-of-a-kind mobile trading experience with an unprecedented range of features...and it's free. It enables you to monitor the market and simulate trades even without a funded account. You can trade stocks, options, currency and futures quickly and easily, track and modify working orders, manage positions and view risk and performance.

How good is their Customer Service and Support?

thinkorswim has one of the best customer supports.

Education & Training for Traders

You can have access to the knowledge center in the "Support" section. The thinkorswim Learning Center is a place for you to find tutorials and how-tos on everything thinkorswim. One can take a look around, watch videos, read thinkMoney magazine, download the whole manual if you like.

Miscellaneous information about thinkorswim

Since 1999, thinkorswim has supported traders through innovative trading platforms that have been recognized as some of the industry's best for options trading. Recently they were bought out by TD Ameritrade.

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Your Ratings:


  • Overall

  • Types Of Accounts

  • Trading Fees

  • Technology

  • Mobile Platform

  • Customer Service

  • Education

  • Miscellaneous

*

 

 

04 September 2013

Overall Rating

  • Types Of Accounts

  • Trading Fees

  • Technology

  • Mobile Platform

  • Customer Service

  • Education

bool(false)

At first glance Ameritrade/TOS appears to be a robust trading and analytics platform that\'s included with having an account at Ameritrade.

But let me cut right to the chase and say that if you\'re an experienced trader who relies on filters and other such tools to suss out potential trading opportunities, then Ameritrade is absolutely not the platform to use.

Even worse, although they offer a relatively robust menu of such tools, what you eventually find out after dedicating countless hours to learning their archaic programming language is that it doesn\'t even matter because they don\'t have the bandwidth to provide real time updates on the most basic of indicators..like Average Volume and whatnot.

So, net net, you\'ll have a really impressive looking setup but when the bell opens in the AM you\'ll see glaring red codes like NAN(Not Available Now) and the ever present \"loading\"..which won\'t resolve until at least 2 hours into the trading day

Can I accurately relay how frustrating this is?

No, I can\'t!

And when I spent my valuable time chasing down the person in charge of such functionality he basically told me that \"We\'re aware of this issue but unfortunately our bandwidth is prioritized toward our algo, black-box and flash trading clients\"

And there you have it..

Pass!!


08 September 2012

Overall Rating

  • Types Of Accounts

  • Trading Fees

  • Technology

  • Mobile Platform

  • Customer Service

  • Education

bool(true)

I simply love ThinkorSwim\'s platform. They have got excellent charting in their desktop software. For Options Traders a good thing is their risk analyzer for options trades. For complex options traders, you can analyze your risk reward easily. Must try IMHO


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