Editor’s Verdict
Overview
Review
Headquarters | United States |
|---|---|
Regulators | NFA |
Tier 1 Regulator(s)? | |
Owned by Public Company? | |
Year Established | 1999 |
Minimum Deposit | $500 |
Trading Platform(s) | Proprietary platform |
Average Trading Cost EUR/USD | 1.2 pips ($12.00) |
Average Trading Cost GBP/USD | 1.2 pips ($12.00) |
Average Trading Cost WTI Crude Oil | $0.04 |
Average Trading Cost Gold | $0.26 |
Average Trading Cost Bitcoin | $65.00 |
US Persons Accepted? |
Thinkorswim brokerage was bought by TD Ameritrade and is now part of one of the largest brokerage houses in the country. Thinkorswim and TD Ameritrade customers have the same accounts with identical features, pricing, tools and services. In our review below we outline the various options available with this broker.
The firm is offering impressive range of investments for clients to choose from, including access to Forex and futures trading. The ability to trade all types of option strategies along with futures and Forex on the same platform makes this brokerage unique.
Features
Thinkorswim.com 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, and a watch page that keeps track of things like dividend dates and stock splits. 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 for any planned adjustments to the current trades you might want to make. These are usually the kind of things found only in proprietary software, which is always very expensive.
For those who like to scan the market for several strategies like straddles or covered calls, you can employ the trading platform's Scan feature. Marketwatch is another popular tab on the platform which gives you access to vital information like upcoming earning reports, stock splits and others.
During this broker review we found great customer service and versatile, powerful, customizable trading tools.
Platforms
thinkorswim's thinkDesktop Platform
Thinkorswim offers one of the best trading platforms in the market. It's well designed, intuitive and customizable and executing orders is fast and efficient. The trading platform also comes with a technical analysis package and a highly developed charting.
The ThinkBack feature permits you to back test strategies and access historical options prices. You may also perform a chance analysis for any existing or potential trade. This way you will be able to identify if it’s worth trading or not and therefore lowering your risk factor.
Thinkorswim.com endeavors to be competitive and has similar commission rates to the other top brokerage houses. The pricing, however, is negotiable for active investors and traders.
Trading Platform
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
DOM? | |
One-Click Trading |