What is TD Ameritrade's Thinkorswim platform?

Short Answer

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.

Detailed Answer

What is Thinkorswim?

A trading platform called Thinkorswim has desktop, online, and smartphone versions.

There are Thinkorswim mobile apps for the iPhone, Android, tablet, and smartwatch in addition to the PC version, which is downloadable software.

Thinkorswim Trading Platforms:

  1. thinkorswim desktop
  1. thinkorswim web
  1. thinkorswim mobile app

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.

Who uses Thinkorswim?

TD Ameritrade has 11 million client accounts with over $1 trillion in assets.

For active investors and traders who want to engage with the market, Thinkorswim is the finest option. However, due to the platform's abundant 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, Thinkorswim is your go-to man if you want to execute a deep-and-wide, four-month, four-strike, double diagonal spread straddle-strangle swap.

Is Thinkorswim free?

TD Ameritrade doesn't charge platform or data fees.

Thinkorswim pricing is as follows: It charges no commissions for online transactions in stocks listed on US exchanges, US ETFs, or options However, there is a $0.65 per-contract cost for options trades.

A $6.95 commission is charged for over-the-counter securities that are not listed on a U.S. exchange. Trades with a broker often cost $25.

Is Thinkorswim safe?

TD Ameritrade is classified by the Financial Industry Regulatory Authority, or FINRA, as both a brokerage house and an investment adviser.

If the brokerage firm fails, SIPC, which stands for Assets Investor Protection Corporation, will cover customers against a loss of up to $500,000 worth of cash and securities.

Additionally, TD Ameritrade offers consumers an asset protection guarantee, promising to compensate them if they lose money or securities as a result of fraud.

Charting on Thinkorswim

Thinkorswim is famous for its charts. The trading platform has more than 400 different charting patterns, so there's got to be one that you can get really excited about.

The charts can be extensively customized as well. By selecting options like Candle, Bar, Line, Equivolume, and Heikin Ashi, you can alter the chart type. A candlestick chart is the standard chart type, with time along the x-axis and a price column on the right.

The lowest and highest prices over the period are shown by rectangular bubbles, and earnings reports and stock splits are denoted by icons. You may see a bar graph below that displays daily volume.

Charting enthusiasts can change the background, cursor, colours, and even the time window. You can write notes with drawings, add studies like volatility indicators, segment off and zoom in on a certain time frame using the mouse, and share your heart's content.

Tagged With: thinkorswimtd ameritradethinkorswim tradingthinkorswim canadathinkorswim usatrading platform
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Related FAQs

What is difference between Thinkorswim vs TD Ameritrade?

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.

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.

Is Thinkorswim free in USA?

TD Ameritrade doesn't charge any platform or data fees. It costs nothing to trade stocks and Exchange Traded Funds (ETFs). However, you can't consider Thinkorswim to be completely free in USA. A $0.65 per contract fee applies for options trades.

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.

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.

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