thinkorswim, Division of TD Ameritrade, Inc. Broker Review


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    Visit BrokerRisk Warning: Your capital may be at risk


    💻 Demo Account: Yes
    ⚖ Allows Hedging: Yes
    🔪 Allows Scalping: No
    🏢 Headquarters: Chicago, IL, USA
    📅 Founded: 1999
    📈 Trading Platform(s): thinkDesktop, webBasedTrading, MobileTrading, paperTrading
    📜 Regulating Authority(s): SPIC, FINRA, NFA
    💰 Minimum Deposit: $2000
    📣 Maximum Leverage: 50:1

    Visit thinkorswim, Division of TD Ameritrade, Inc.
    Risk Warning: Your capital may be at risk

    $2000
    Minimum Deposit
    50:1
    Maximum Leverage
    1999
    Founded

    Our Review of thinkorswim, Division of TD Ameritrade, Inc.

    Can ThinkorSwim 'Roll' with the Times?
    ThinkorSwim has been an industry staple for 15 years in online brokerage firms. But are they still one of the best 'bets' in online trading options?

    We think so. Here's why:

    Company Overview

    If online Forex traders like eToro are the sexy 'newish' comers for the novice and younger generational trading base, ThinkorSwim is the grandaddy counterpart. Ever the wise, gentile teacher, it offers a wide and almost overwhelming selection of options.

    ThinkorSwim has been trading an educating online traders since 1999. Bought in 2010 by TD Ameritrade, the company was bolstered both by the firm's broadly resourced base and thus was given an edge.

    Account Types

    Unlike other platforms, almost every kind of asset is offered here. ThinkorSwim is a Forex trader, and offers an array of alternative and substantial options from Spreads, Future Options, Stocks and Single options. What's even cooler is they offer an overwhelming variety of categories, from Day orders, Stop, or Stop Limit orders. They go one step further, in providing multiple tabs to conveniently review and learn what each order means.

    One gets the strong brand sense behind the firm: ThinkorSwim's here to educate you, and help you find the best opportunities. They hit the mark here.

    Commission and Spreads

    ThinkorSwim isn't interested in 'nickel and diming' its customers. It offers high visibility on rates and fees and flat rates for unlimited commissions for most assets.

    It's obvious TD Ameritrade's asset base offers an advantage, allowing ThinkorSwim to outshine its competition. ThinkorSwim offers commission free trades bonuses and $600 cash sign ups. Though there's a limit, about 500 across the board in trades. That's a huge draw for consumers, whether they're trading daily or making just a few trades a week. It's a nice feature.

    But the best feature is how streamlined their rates are. A monthly fee of $9.99 for internet trading, and about $0.75 to $2.25 for contract-based trades, means commission free trading for most instruments. But Forex trades are set-up a little differently. ThinkorSwim offers a 'Non-commission Currency Pairs' option and 'Commission Currency Pairs' option, as in a EUR/USD 1% or $1.00 commission for a $1,000 trade.

    Trading Software

    Depending on your preference, ThinkorSwim's software and user-experience could be polarizing. They offer thinkDesktop. A well-known, time-tested platform. But the downloadable option could cause problems for some users. Though there's some room in it's operating system requirements, they recommend users have at least a 10.7 Mac OS or Windows XP or 7. It's a Java-based platform with a dense user experience. And this is where some users could run into snags. While the company philosophy is apparent, it becomes rather oppressive in its density to educate, inform and offer options. Fluency on the platform might take a little longer than needed. It's got a Windows feel, requiring left-hand clicks to reach different options like their 'ScanTab,' where users can sort by personal watchlist, volatility or fundamentals.

    But it's daily 'Swim Lesson', a daily online webinar, offsets user-ability issues here, and we'd suggest overall the platform's worth the time.

    Deposits and Withdrawals

    Deposit amounts range from a minimum of $500 to $250,000. However, it's deposit and withdrawal process is not as fluid as others, offering only bank account transfer or EFT, check or wire. Withdrawals are done to the users TD Ameritrade account or an outside institution transfer and can include a fee.

    Customer Support

    Again, this online platform offers excellent service, with both 24/7 telephone support and up to 100 U.S. locations. The online support is comparable to most other platforms, with the added lesson touch. Their aim to educate bolsters their customer support, too.

    Regulations and Safety

    Customers can use play money, up to $100,000 to start with, so they get an understanding of the platform and its safety features. It's SSL encrypted platfrom, along with powerhouse support through TDAmeritrade, offer a robust safety net.

    Leverage

    ThinkorSwim offers a one-size-fits all Leverage option, offering a 50:1 or 200:1 option as the maximum.

    Though it's not the 'sexiest' platform around, we ThinkorSwim is still one of the best options overall. Even since the 2010 TDAmeritrade takeover, the platform has only gotten better, providing dense visibility, robust educational resources and overall low fees.

     


    Visit thinkorswim, Division of TD Ameritrade, Inc.'s Website

Company Information
Broker's Name
thinkorswim, Division of TD Ameritrade, Inc.
Headquartered in
Chicago, IL, USA
Year Founded
1999
Regulating Authority
SPIC, FINRA, NFA
US Clients Accepted
Yes
Telephone Number
1 866 839 1100
Fax Number
773 435 3232
E-Mail Address
help@thinkorswim.com
Account Options
Type of Broker
Market Maker
Commission
Mini Account
Yes
VIP Account
Yes
Segregated Account
Yes
Islamic Account (Swap Free)
No
Demo Account
Yes
Institutional Accounts
No
Managed Accounts
No
Maximum Leverage
50:1
Minimum Deposit
$2000
Deposit Options
Wire Transfers, Transfer from another broker (ACAT), Transfer from financial institution (ACH), Rolling over from retirement plans, Checks, Internal Transfers, Stock Certificates
Withdrawal Options
Wire Transfers, Check Request, Automated Funds Transfer-ACH, IRA Distribution, Automated Client Account Transfer System (ACAT)
More Instruments
Metals
Yes
Oil
Yes
Gold
Yes
Indices
No
Stocks
Yes
Commodities
No
ETFs
No
CFDs
No
Trading Platform
Platform Type
thinkDesktop, webBasedTrading, MobileTrading, paperTrading
Platform Languages
-
OS Compatibility
Microsoft Windows XP or Microsoft WindowsVista
Streaming News Feed
Yes
Charting Package
Yes
Trading Signals
No
Automated Trading
No
Trade From Charts
No
Market Commentary
No
E-mail Alerts
No
Mobile Alerts
No
Scalping
No
Hedging
Yes
Trailing Stops
Yes
Guaranteed Stop Loss
No
Guaranteed Limit Orders
Yes
Guaranteed Fills
Yes
Interest on Margin
No
One-Click Execution
No
OCO Orders
Yes
Mobile Trading
Yes
Web-Based Trading
Yes
Customer Service
Customer Support Languages
English
Customer Service Hours
24-
Place Trades Over the Phone?
Bonuses & Rewards
No Deposit Bonus
No
Bonus for First Deposit
No
Is the Bonus Based on the Volume of the Transaction?
No
Other Bonuses
No


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Broker Type: 
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