thinkorswim Review 2017

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thinkorswim® was acquired by TD Ameritrade in 2009 and remains one of the best trading platforms for active traders, especially options traders.

The reason thinkorswim® stands head and shoulders above most of its competition is its platform was originally built by traders for traders.

One of its original founding team members, Tom Sosnoff, is renowned in options trading circles as walking the talk, meaning he actively trades. And the thinkorswim® platform reflects his deep expertise of equities and options trading strategies with advanced order entry, access to portfolio margin and tools galore.

thinkorswim® is one of the most well respected trading platforms for serious traders. And while its interface can seem overwhelming at first glance, it is well worth taking the time to peer behind the veil where you will discover an extensive tool suite capable of advanced screening, charting, back-testing and much more.

thinkorswim® Spotlight

THINKORSWIM® SPOTLIGHT

thinkorswim®

InvestorMint Rating

5 out of 5 stars

  • Commissions: $6.95 per trade
  • Account Minimum: $0
  • Promotion: Trade free for 60 days, based on $3,000 deposit

via thinkorswim secure site

thinkorswim® stands out among its competitors with highly customizable screening tools, a support staff with deep knowledge and understanding of options strategies, extensive research capabilities and advanced charting capabilities. For active options traders, thinkorswim® has few rivals.

thinkorswim® Customers

thinkorswim® trading platform is best for traders who are active, self-directed and proficient in options trading.

thinkorswim® carved out a position in the marketplace as a trading platform with fast, accurate execution, very affordable commission structure, powerful screening tools, advanced charting capability, real-time quotes, and a focus on options and futures trading.

thinkorswim®’s trading platform caters to an audience who is:

  • Self-directed
  • Active
  • Interested in customizing chart settings
  • Rigorous about backtesting strategies
  • Proficient in options trading
  • Price sensitive

thinkorswim® has a platform that caters to a wide range of options trading strategies, such as:

  • Covered call options strategy
  • Married put options strategy
  • Collar Trade options strategy
  • Bull put spread options strategy
  • Bear call spread options strategy
  • Credit spreads options strategy
  • Debit spreads options strategy
  • Bull call spread options strategy
  • Bear put spread options strategy
  • Ratio put backspread options strategy
  • Ratio call backspread options strategy
  • Iron butterfly options strategy
  • Iron condor options strategy
  • Straddle options strategy
  • Strangle options strategy
  • Combination trades options strategy

thinkorswim® also has a sophisticated virtual trading platform so traders who wish to practice any of the above strategies can easily simulate a real-life trading environment without incurring any capital risk.

thinkorswim® Promo Deal

thinkorswim® is offering a promo deal to new account holders:

  • Open an Account with thinkorswim® and trade free for 60 days, based on $3,000 deposit.
  • Get $100 cash bonus when depositing $25,000 – $99,999
  • Get $300 cash bonus when depositing $100,000 – $249,999
  • Get $600 cash bonus when depositing $250,000 or more

thinkorswim® Pros and Cons

thinkorswim® trading platform has pros and cons as described below.

thinkorswim® Pros thinkorswim® Cons
Options Trading: thinkorswim® trading platform is about as close to options trading nirvana as options traders will find with advanced strategy capability, world class charting, top notch support staff with extensive knowledge of options, customizable screening tools, powerful backtesting capabilities, and fast execution. Navigability: new traders may find thinkorswim® trading platform intimidating and even overwhelming. The extensive functionality comes at the cost of a less intuitive site navigability.
Education & Tools: thinkorswim® trading platform has an excellent virtual trading platform to allow traders learn strategies in a simulated environment with no capital at risk. Extensive research is available to better inform you before trading. Join Swim Lessons daily to access platform demonstrations. Commission Rates & Margin:

  • Stocks: $6.95
  • ETFs: $6.95
  • Options: $6.95 + $0.75 per contract
  • Futures: $2.25 per contract
  • Forex: 70 pairs
  • Margin base rate: 8.25%
Mobile Trading: thinkorswim® has advanced mobile trading capabilities that facilitate trade orders, charting, news, and even account funding.

thinkorswim® Securities

thinkorswim® caters to the following securities.

Mutual funds and bonds cannot be traded via thinkorswim® trading platform but can be traded via its parent company, TD Ameritrade.

thinkorswim® Fees

thinkorswim® fees are charged on trading transactions as follows.

Security Fees
Stocks & ETFs $6.95
Options $6.95 + $0.75 per contract
Futures $2.25 per contract
Margin base rate 8.00%
Transfer fees $75 (outgoing)
Broker-assisted trades $44.99

thinkorswim® Platform Features

Type Capability
Desktop YES
Mobile YES
Customer support 7 days/week 24 hours daily
Real-time data FREE
Research FREE
Chart Tools FREE

thinkorswim® Summary

For serious options traders, thinkorswim® has virtually no peers. While competitors have caught up over the years, thinkorswim® stands alone for its combination of extensive research, advanced charting, fast order execution, knowledgeable staff, capability to execute complex options trading strategies, and comprehensive screening tools.

 

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