What is difference between Thinkorswim vs TD Ameritrade?

Short Answer

The primary difference between Thinkorswim and TD Ameritrade is that TD Ameritrade is an online US broker. Whereas Thinkorswim is an online trading platform powered by TD Ameritrade.

Detailed Answer

What is TD Ameritrade?

TD Ameritrade is an online US stock broker that offers an electronic trading platform for the trade of financial assets which includes :

  • common and preferred stocks
  • futures contracts
  • exchange-traded funds
  • forex, options
  • mutual funds
  • fixed income investments
  • margin lending
  • cash management services

TD Ameritrade provides a wide range of trading products, plenty of educational options, and more capable trading software, including the Thinkorswim platform.

TD Ameritrade's website is up-to-date, intuitive, and well-organized, and it offers a good selection of educational materials like articles, webinars, videos, and a glossary.

TD Ameritrade’s live quotes are delayed by default, so you can miss important market movements. Real-time quotes, however, can be turned on in your account profile.

TD Ameritrade is a good fit for investors and traders of all experience levels who want access to more products and a more robust and customizable trading experience.

What is Thinkorswim?

Thinkorswim is an electronic trading platform powered by TD Ameritrade which is used to trade financial assets. It is geared toward self-directed stock, options and futures traders.

Thinkorswim is a trading platform with desktop, web and mobile versions. Additionally to mobile apps for the iPhone, Android, tablet, and wristwatch, Thinkorswim also offers a desktop version that can be downloaded.

Though the features vary depending on the edition, Thinkorswim allows you to trade a variety of financial instruments, including stocks, mutual funds, ETFs (exchange-traded funds), options, futures, bonds, CDs (certificates of deposit), and currencies.

For active investors and traders who want to engage with the market, Thinkorswim is the finest option. However, due to the platform's abundance of technical features and trading tools, even novice and expert traders can benefit from it.

It is really thorough. It enables you to trade at the most fundamental level or the most intricate level you choose. For alternatives, you can do a straightforward covered call.

On the other hand, they are your go-to men if you want to execute a deep-and-wide, four-month, four-strike, double diagonal spread straddle-strangle swap.

Thinkorswim vs. TD Ameritrade: Difference between their services

Thinkorswim offers a plethora of technology, including heat maps, financing rates, an economic calendar, security scanners, alerts, and much more, to keep traders up to date with the rest of the financial world.

TD Ameritrade offers daily Swim Lessons, which are live webcasts to help traders learn the software.

The TD Ameritrade "front end," or the control panel where you choose your options, might need some improvement. In contrast, Thinkorswim offers far more advanced features and far better tools. If you are a frequent trader, TD Ameritrade will be the best choice for you.

Thinkorswim vs. TD Ameritrade

If you open a Thinkorswim account, your account is with TD Ameritrade. If you want a Thinkorswim account, you will fill out a TD Ameritrade application. So basically, TD Ameritrade is the “parent company” of Thinkorswim trading platform.

Ah! That seems a bit confusing! Not really! Hope you got the differences between Thinkorswim vs. TD Ameritrade. Do share your queries an dfeedback.

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Related FAQs

How to open TD Ameritrade Account in Canada?

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.

What is TD Ameritrade's Thinkorswim platform?

Thinkorswim is an online trading platform by TD Ameritrade used to trade financial assets. This platform is designed for self-directed stock, options, and futures traders. A thinkswim suite offers a seamless trading experience with advanced and essential tools.

Is ThinkorSwim available in Canada?

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.

Is Thinkorswim free in Canada?

No, Thinkorswim is not completely free in Canada. Thinkorswim is powered by TD Ameritrade, a commission free US brokerage firm. The stock broker charges $0 commissions on online US stocks and ETFs. You have to bear some cost on option trades.

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