The Complete thinkorswim Review 2022 — MagnifyMoney

editorial notice : The contentedness of this article is based on the generator ’ second opinions and recommendations alone and is not intended to be a beginning of investment advice. It may not have not been reviewed, commissioned or differently endorsed by any of our network partners or the Investment company. Thinkorswim is a free on-line trade military service offered by TD Ameritrade to its customers. It provides three unlike platforms — web, background and mobile versions — that leave customers to chart analysis and trade securities. Users can typically trade U.S. exchange-listed stocks, exchange-traded funds ( ETFs ) and options for free, 24 hours a day, five days a week .
Thinkorswim is best for investors who are already TD Ameritrade customers or those who may want to become TD Ameritrade customers. Below, our Thinkorswim review takes you through the details of this platform .

Visit ThinkorswimThe bottom line: Thinkorswim is a free, powerful, user-friendly online trading platform available to TD Ameritrade customers.

  • Free online trading platform offered to TD Ameritrade customers
  • Affordable option for stock, ETF and options trades
  • Provides a wealth of free educational resources for investors

Thinkorswim is a spare, mighty, user-friendly on-line deal platform available to TD Ameritrade customers .

Minimum deposit $0 required
Account types
  • Individual brokerage account
  • Joint tenants with rights of survivorship
  • Tenants in common
  • Community property
  • Tenants by entireties
  • Guardianship or conservatorship
  • Traditional individual retirement account (IRA)
  • Roth IRA
  • Rollover IRA
  • Solo 401(k)
  • Pension or profit plan
  • 529 plans
  • Coverdell education savings account
  • Custodial Uniform Gift to Minors Act/Uniform Transfer to Minors Act
  • Trust
  • Limited partnership
  • Partnership
  • Investment club
  • Limited liability
  • Sole proprietorship
  • Corporate (profit or nonprofit)
  • Non-incorporated
  • Small business plans 
Tradable securities
  • Stocks
  • Options
  • ETFs
  • Mutual funds
  • Futures
  • Foreign exchange (forex)
  • No trading commission for most services
  • Limited fees for services
Sign-up bonus No current sign-up bonus is being promoted

What Thinkorswim offers and who it’s for

Thinkorswim offers full-bodied trade tools, a wealth of free educational resources and a user-friendly format for investors of all levels. It ’ s lone available to TD Ameritrade customers, but because neither requires an account minimum, investors may want to sign up for TD Ameritrade entirely for entree to Thinkorswim .
It ’ south besides capital for those who want the option to entree a full-service broke and/or want the ability to trade around the clock .


  • $0 commission trading: There are no fees for trading U.S. exchange-listed stocks, ETFs and options, though there is a fee of $0.65 per option contract.
  • Robust educational offerings: TD Ameritrade offers plenty of options for investor education, including a risk-free paper trading platform that allows users to practice by trading virtual money.
  • 24/5 trading: Investors can trade some securities 24 hours a day, five days a week, with the exception of holidays. This allows investors to make investment decisions based on breaking news and also trade when it’s convenient for their schedule.


  • Short-term trading fee: While investors can trade ETFs commission-free, if they’re not held for at least 30 days, there’s a $13.90 fee charged.
  • Fee for broker-assisted trades: There’s a $25 fee for broker-assisted trades.
  • Limited investment options:Investors who want to invest in cryptocurrencies or initial public offerings (IPOs) aren’t able to do so through Thinkorswim .

Thinkorswim fees and costs

Option trading fees $0 commission, $0.65 per contract fee
U.S. stock trading fees $0
ETF trading fees $0
Short-term trading fee for ETFs $13.90
Online trades of over-the-counter stocks $6.95
Broker-assisted trades $25
Interactive voice-response phone calls $5
Full account transfer (outbound) $75
Partial account transfer (outbound) $0

Like most, but not all, online brokers, Thinkorswim lets investors trade U.S. exchange-listed stocks, ETFs and options for free. There is a $0.65 per option contract, and investors who frequently trade ETFs may balk at the trading fee for those held less than 30 days.
Like most, but not all, on-line brokers, Thinkorswim lets investors trade U.S. exchange-listed stocks, ETFs and options for free. There is a $ 0.65 per option contract, and investors who frequently trade ETFs may balk at the trade fee for those held less than 30 days. While Thinkorswim offers an amaze range of educational resources for free, investors who want a fiddling more assistant in the form of broker-assisted trades will have to pay $ 25. Some on-line brokers, such as Zacks Trade, offer broker-assisted trades for free .
While you have to be a TD Ameritrade customer to use Thinkorswim, there ’ s no minimal account symmetry required and no annual tip for either .
Thinkorswim offers a wide diverseness of investing tools and research options. Some of the stand-out ones include :


This program lets users practice investing without any gamble. alternatively of using real money, investors can trade with “ paper money ” to trade up to $ 100,000 virtually as they learn .

Strategy Roller

Users can use this joyride to automate their scheme. Using predefined criteria, this tool can help users keep investments in line with their goals. Alerts provide control to pivot as necessary .

Market Maker Move

This instrument helps users keep track of major price movements and marketplace volatility to inform trading decisions. once activated, an indicator will show up in the platform when volatility is detected.

Stock Hacker

Users can enter criteria on what they ’ ra looking for in stocks, and Stock Hacker will help them find stocks that fit those specifications .


For users who want ultimate customization, thinkScript — a built-in programming lyric — can help them build their own order execution and strategic testing algorithm to test how diverse scenarios may work .

Technical analysis

Thinkorswim offers a variety of tools for users to analyze data and make their best investing decisions. The platform includes a library of more than 400 studies and strategies, angstrom well as tools to chart, track patterns and more .

Thinkorswim user experience

Thinkorswim offers three trade platform options — desktop, versatile vane options and mobile. The web platforms ( classical, future gen and Thinkorswim web ) leave users to chart and trade on their web browsers. The background version offers the most robust assortment of tools and educational resources. Mobile allows entree from a phone or pill, as a companion to the classic web platform .
TD Ameritrade provides a kind of ways customers can get patronize for the Thinkorswim platforms or any of its other services, day or night. Customers can call 800-454-9272, send a message on Facebook or Twitter, text or fax the ship’s company or visit one of its more than 175 physical locations nationally .

Thinkorswim investor education

Thinkorswim in truth steps it up when it comes to investor education. In fact, it is systematically named No. 1 in department of education by It offers live and on-demand videos that provide real-time commercialize insights and strategy recommendations from industry professionals, deoxyadenosine monophosphate well as free access to other real-time fiscal information .
It besides offers release educational courses, tutorials, webcasts and in-person events. Additional premium research subscriptions can be purchased for a tip .

Thinkorswim security

  • Firewalls and encryption
  • Member of FINRA) and SIPC
  • Reimbursement for unauthorized activity

TD Ameritrade works to ensure security by using firewalls, anomaly detection, invasion detection and encoding technology to keep users ’ information and assets safe .
While investing constantly carries the risk of losing funds, TD Ameritrade guarantees that if you lose funds from your report because of deceitful action, it will reimburse you. The firm is besides federally insured against insolvency as it is a member of both the Financial Industry Regulatory Authority ( FINRA ) and the Securities Investor Protection Corporation ( SIPC ) .

Alternatives to Thinkorswim to consider

Thinkorswim will appeal to a wide diverseness of investors, though peculiarly to those who are already TD Ameritrade customers. While feel investors are credibly most likely to take advantage of all its tools and resources, Thinkorswim besides offers options for people silent learning the endow ropes .
For those who want to branch out beyond basic investments, Thinkorswim may not fit the bill, as it does not presently offer the ability to invest in cryptocurrencies or other alternatives. Those investors may find a better meet in on-line brokers such as Robinhood or TradeStation .

  Cost per trade Minimum deposit Best for …
Thinkorswim $0 $0 Investors of all experience levels, particularly those who are already TD Ameritrade customers
Robinhood $0 $0 Beginning investors and those looking to trade cryptocurrencies
TradeStation $0 for stocks and ETFs $2,000 for the TS Select plan, $0 for TS Go Serious, data-hungry investors who trade frequently and want a variety of investment options

Thinkorswim vs. Robinhood

Both Robinhood and Thinkorswim offer commission-free trade on a variety show of securities and charge minimal fees. While Thinkorswim offers more full-bodied tools and a wider assortment of dislodge educational resources, those who want to trade cryptocurrencies or fractional shares may find Robinhood more appealing, as Thinkorswim doesn ’ t presently offer options for either. Robinhood ’ second dim-witted interface may be less overwhelming for beginning investors vitamin a well .

Thinkorswim vs. TradeStation

TradeStation provides a wide range of investment options than Thinkorswim. In summation to stocks, ETFs, options and futures, investors can choose from crypto, IPOs and bonds. Most can be traded for $ 0 commission, though per compress fees apply to sprout options, futures and futures options.

Designed for fiscal professionals, TradeStation may be a better choice for have investors who will take advantage of the deep research options. While its mobile platform doesn ’ metric ton require a minimal balance, users who want the more robust tools and offerings of the TS Select plan must have a minimum of $ 2,000 to invest, whereas there ’ s no minimum libra required by Thinkorswim .
Fees mentioned in the article are accurate as of the date of print .
The “ Find a Financial Advisor ” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor ( “ MMA ” ). After completing a abbreviated questionnaire, you will be matched with certain fiscal advisers who participate in MMA ’ second referral course of study, which may or may not include the investment advisers discussed .

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Category : Finance

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