Is ThinkorSwim available in Canada?
- Asked By
- Updated On:02-Dec-2022
- Replies:5
Short Answer
TD Direct Investing has re-enabled the ability for new Canadian customers to sign up for Thinkorswim platform. So, now you can open an account with a requirement of minimum deposit of $25,000 USD. You can find Thinkorswim as a top-of-your game-traders platform on their official site.
Earlier, ThinkorSwim was not available to Canadian users for sometime. TD-Direct Investing, which was providing the platform to its users had replaced it with another trading platform known as Advanced Dashboard.
But, now Canadian citizens who have a TD account can access ThinkorSwim. In order to get ThinkorSwim, you need to have a TD Ameritrade account which is a U.S based broker.
Detailed Answer
What is ThinkorSwim?
ThinkorSwim is a trading platform that provides many charting and trading tools for investors as well as traders. The platform is available on mobile as well as on desktop, hence users can utilize it more efficiently on multiple devices.
ThinkorSwim is a platform, provided by TD Ameritrade. TD Ameritrade is a U.S based broker that was recently acquired by, the finance giant Charles Schwab. The broker works on a ‘zero commission’ based model. Under this platform, you don’t have to pay any commissions on your trades, no platform fee or any data charges, etc. You can trade stocks, ETFs (Exchange Traded Funds), Options, etc without paying anything extra in commissions. Let’s find out if you can use it in Canada.
Is ThinkorSwim available in Canada?
ThinkorSwim was not available in Canada for sometime. However, TD Ameritrade, which provides the platform to all its users has re-enabled it for Canadian investors.
NOTE: TD Direct Investing has re-enabled the ability for new customers to sign up for the Thinkorswim platform. But, you can do so with the a minimum deposit of $25,000 USD (Equity + Cash balance for trading Options). They website has also been updated to include Thinkorswim as an additional trading platform option.
Bottom line
If you have a TD Ameritrade account or you have a U.S. passport, then you can go ahead and access ThinkorSwim through TD Ameritrade. On the other hand, Canadian citizens can directly get access to the platform as it has been re-enabled by TD Ameritrade. So, if you wish to trade in US stocks and options, this could be your choice. You can find Thinkorswim as a top-of-your game-traders platform on their official site.
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Discussion (4)
In US you just have to put $50 to get started with Thinkorswim. Many people just use it for charting and not for executing orders. Asking for 25k on the Canadian side is strange.
ThinkorSwim is available in Canada through TD-Direct Investing (TD Ameritrade). TD has re-activated this service. But, you need to have 25k USD account to set it up. That's big money! Wondering how many people actually go for it? Not in my budget!
Yes, Think or Swim is available through TD Canada Trust - TD Direct Investing with a 25k USD Account.
You cannot open a TD Ameritrade account in Canada unless you are an American or have US citizenship. So, if you are a Canadian citizen, you cannot open account with this US stock broker.
This is a tricky question and does not have an exact answer. However, an average Canadian is likely to invest less than $2,000 in stocks. This number is not fixed and may go up or down based on an individual's earning, saving, expenses and financial gaols.
No, you cannot use Robinhood in Canada. Only United States citizens, US permanent residents or those with a valid United States visa can sign up for a Robinhood account.
There are many steps in Forex trading. Determine your goals, complete research, open a Forex trading account, fund the account and commence trading.
Questrade is a Canadian brokerage company. Questrade offers Extended Hours trading to its users where users can trade before and after market hours.
Based on our analysis, Questrade seems to be the best day trading broker in Canada. It offers a dedicated intra day trader tool which enables you to be well-informed about the markets.
If a person wants to expand his investment opportunities and become a part of some of the great US companies. Then yes, buying US stocks in Canada is totally worth it.
Based on the historical data, the Canadian stock performances haven’t even gone close to the US stocks. However, nobody knows what the future holds for us.
Yes, Canadian stocks prove to be a shelter to investments with its wide variety of natural resources and stable banking system.
There are several choices available to Canadians who want to invest in the stock market online. Questrade ranks higher a sone of the best stock trading site for a beginner in Canada, offering access to both the Canadian and American stock markets.
smillingtrader
Canadians can get real ThinkorSwim accounts. Unfortunately, you can’t trade, as these are technical accounts, but you can use it as the main platform for selecting (search) for shares or options. And send orders through the platform from your broker.