Via TD Ameritrade's secure website.
Thinkorswim Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Thinkorswim
- FINRA
- SIPC
- CFTC
- NFA
- 1999
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Thinkorswim
- FINRA
- SIPC
- CFTC
- NFA
- 1999
Our Evaluation of Thinkorswim by TD Ameritrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Thinkorswim by TD Ameritrade is a broker with higher-than-average risk and the TU Overall Score of 4.35 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Thinkorswim by TD Ameritrade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Thinkorswim by TD Ameritrade is a professional stock market broker for US residents. Only traders with a capital of $10 thousand dollars will be interested.
Brief Look at Thinkorswim by TD Ameritrade
TD Ameritrade’s Thinkorswim broker is a result of the unification of Thinkorswim and TD Ameritrade, the developers of the best platform for stock trading in the US. Its main focus is trading securities, the OTC securities market, spot instruments, and retail foreign exchange trading in the US. The company was nominated for: "Best Platforms and Tools", "Best Application for Traders", for being among the Top 5 in the ratings, "Best Innovative Developments", and "Best Broker for Options Trading". Since 2009, the company’s reliability has been confirmed by the licenses from two of the most stringent regulators in the world, FINRA (CRD#: 7870/SEC#: 801-60469,8-23395), and SIPC.
- Access to stock exchange markets with hundreds of instruments, including indices. Derivatives trading, entry into the OTC market, legal services of currency trading in Forex.
- One of the most functional platforms in the world for trading securities with multi-level complex chart analyses.
- Two of the world's best regulators license it.
- Optimal trading conditions for individual assets.
- Segregated accounts.
- The broker works only with traders from the USA.
- The platform is difficult for novice traders.
- There is no membership in the FDIC (Federal Deposit Insurance Corporation, which would ensure traders' money up to $250 thousand).
- A limited number of deposit/withdrawal options.
- High entry threshold.
TU Expert Advice
Financial expert and analyst at Traders Union
TD Ameritrade’s Thinkorswim is a licensed broker that is fundamentally different from classic brokers in Europe. Forex is strictly monitored in the USA and TD Ameritrade’s Thinkorswim is authorized to provide currency pair trading services. The company also offers direct access to the American stock exchanges. Its emphases are on trading in securities, futures, options, and other derivatives, and securities of ETF funds. A separate area is the withdrawal of OTC assets, the OTC stocks, and the bond market. The OTC market differs from CFDs and the usual Forex trades are in the absolute control of the regulator.
Thinkorswim is a unique proprietary platform that is considered the best in its class. Advanced analysis of securities yields, FRED charting, tools for identifying dozens of candlestick patterns, and market sentiment analysis are only a small part of its capabilities. It does not have MetaTrader 4 or QUIK. It will be a mammoth task to deal with it intuitively by typing. There are 400 technical indicators built into the Thinkorswim terminal.
Many of the offered TD Ameritrade’s Thinkorswim tools, like the platform itself, is unfamiliar to CIS traders. And it will not be easy for traders to connect to a broker. The broker works only with US residents. Nevertheless, the company deserves attention and, perhaps, acquaintance with it will open up new investment horizons for traders. The reliability of the company is beyond doubt. Therefore it is rightfully included in the Traders Union Forex broker ratings.
- You want a diverse selection of tradable assets. TD Ameritrade provides access to stocks, ETFs, options, futures, forex, and mutual funds, offering ample diversification opportunities.
- You prefer advanced trading tools and features. The thinkorswim platform, offered by TD Ameritrade, is robust and popular, providing advanced charting, technical analysis tools, paper trading, and algorithmic trading capabilities.
- You want a broad selection of payment systems. This broker offers a limited selection of payment systems for deposits and withdrawals.
- You prefer high leverage. TD Ameritrade provides leverage only up to 1:2, which may not be suitable for traders seeking higher leverage ratios.
Thinkorswim by TD Ameritrade Summary
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| 💻 Trading platform: | Thinkorswim |
|---|---|
| 📊 Accounts: | Standard Forex (account for trading currency pairs, other assets are not considered in this review) |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Electronic bank deposit, wire transfer, checks, transfer of assets from one brokerage company to TD Ameritrade’s Thinkorswim, physical certificates of shares |
| 🚀 Minimum deposit: | From $0 (from $2,000 to activate margin trading opportunities) |
| ⚖️ Leverage: | Floating |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.1 |
| 💱 Spread: | from 0.00 points |
| 🔧 Instruments: | Over 70 currency pairs |
| 💹 Margin Call / Stop Out: | Stop out - 25% |
| 🏛 Liquidity provider: | n/a |
| 📱 Mobile trading: | available |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Instant execution, Market execution |
| ⭐ Trading features: | There is cryptocurrency trading |
| 🎁 Contests and bonuses: | no |
TD Ameritrade’s Thinkorswim trading conditions are competitive for the US Forex market but relatively uncomfortable for non-residents. This is due to the legal standards of trading in the American foreign exchange market like commission fees, taxation, and other issues.
Thinkorswim by TD Ameritrade Key Parameters Evaluation
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Trading Account Opening
Before opening an account, register on the Traders Union rebate service website and go to the broker's website using the partner link. It will allow you to save on commission costs in the future.
How to register on the TD Ameritrade’s Thinkorswim website:
On the main page of the broker's website, click the button "Open a new account" in the top menu tab.
Fill in all data. Registration automatically doubles as verification. Therefore you need to indicate all documents, including payment cards and tax details. Also, here you need to select the type of account to open.
The following functions are available in TD Ameritrade’s Thinkorswim personal account:
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Management of all open accounts.
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Full access to the platform’s functionalities.
There are also many other useful functions and features like:
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Trading account management and statistics on deposits/withdrawals.
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Access to a think tank and online courses.
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Chatting with the Support Service.
Regulation and Safety
Information
TD Ameritrade’s Thinkorswim is licensed by multiple regulators to operate in the exchange and over-the-counter stock markets. Among them are FINRA and SIPC.
Advantages
- Segregated accounts with major US banks
- Reliability. The broker is under constant control of regulators.
- Offers transparency
Disadvantages
- It will be difficult for a trader who is not a US resident to achieve a result.
- The broker is not a member of the FDIC, which ensures money for traders in case of force majeure
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard (Forex) | 1.2$ | No |
There is no information on swaps. We also compared TD Ameritrade’s Thinkorswim commission fees with its competitors. Based on the analysis, each of the brokers was assigned an appropriate level.
| Broker | Average commission | Level |
|---|---|---|
|
$1.2 | |
|
$1 | |
|
$8.5 |
Account Types
Thinkorswim by TD Ameritrade offers a standard universal account. A trader needs to open an individual account from which he can trade using most assets, including currency pairs.
Account types:
Many deposit and withdrawal options are available like electronic bank deposit ($50,000 to $250,000), wire transfer, checks, transfer of assets from another brokerage company to TD Ameritrade’s Thinkorswim, and physical certificates of shares.
With an electronic bank transfer, the time for crediting money to a deposit is less than 5 minutes, with a regular transfer it is up to 24 hours, and with a transfer using a check, it is up to 5-6 business days.
Find out how to carry out the process of replenishment and the conditions for withdrawing money from the broker's support service.
Investment Options
TD Ameritrade’s Thinkorswim has a relatively non-standard approach to investment programs for traders from the CIS and Europe. There is no usual passive investing, PAMM accounts, or social trading. The broker is focused on providing services to various categories of people who may not be traders. Most of them are not available to non-US residents.
Types of passive investing offered by TD Ameritrade’s Thinkorswim
TD Ameritrade’s Thinkorswim offers the following investment options:
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Investment portfolio management. It provides an individual selection of stock market assets into a diversified client portfolio with its subsequent periodic rebalancing. The level of risk, the trader's deposit, profit goals, timing, etc., are taken into account.
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The IRA is an Individual Retirement Account. It requires a minimum deposit of $6000 and is unlikely to be of interest to a non-US resident.
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Investment savings accounts for minors.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
TD Ameritrade’s Thinkorswim affiliate program:
Attracting new customers through affiliate programs is not provided for by the broker's development policy.
Customer Support
Information
TD Ameritrade’s Thinkorswim support team is ready to provide assistance 24 hours a day, five days a week.
Advantages
- Fast response to any requests
- Round-the-clock support
Disadvantages
- US customers only
There are several ways to contact support:
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by phone, as indicated on its website;
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using a teletypewriter (for people with hearing impairments);
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by visiting the company's offices in the United States;
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through social networks;
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by fax;
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by email; and
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using the feedback form.
Contacts
| Foundation date | 1999 |
|---|---|
| Registration address | 200 S 108th Ave, Omaha, NE |
| Regulation | FINRA, SIPC, CFTC, NFA |
| Official site | tdameritrade.com |
Education
Information
There is a separate section for training on the TD Ameritrade’s Thinkorswim website. It explains stock markets, derivatives, and OTC markets, the essence of financial planning, and analyzes investment programs.
Comparison of Thinkorswim by TD Ameritrade with other Brokers
| Thinkorswim by TD Ameritrade | RoboForex | Pocket Option | Exness | AMarkets | Deriv | |
| Trading platform |
Thinkorswim | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, AMarkets App | Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
| Min deposit | $2000 | $10 | $5 | $10 | $100 | $1 |
| Leverage |
From 1:1 to 1:1 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:3000 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | 1.00% |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
No / 25% | 60% / 40% | 30% / 50% | No / 60% | 50% / 20% | 100% / 50% |
| Execution of orders | Instant Execution, Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed Review of Thinkorswim
TD Ameritrade’s Thinkorswim is a US-licensed broker that combines an investment fund and intermediary financial functions. For private clients, the company offers savings deposits for different categories of people ranging from children to pensioners. For passive investors, there is a service for forming investment portfolios with varying levels of risk. There are exits from the exchange and OTC markets for active traders, trading assets — such as stocks, futures, and options. TD Ameritrade’s Thinkorswim is one of the few US-licensed brokers that provides Forex trading services.
A few figures about Thinkorswim by TD Ameritrade that might be of interest to potential traders:
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$0.00 commission for Forex trading.
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From $0.00 initial deposit (from $2000 for margin trading).
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More than 12 years of experience in the CIS market.
Thinkorswim’s reliability and functionality in one platform
CFD trading in the USA has strict restrictions. TD Ameritrade’s Thinkorswim broker is one of the few companies that allows traders to earn on currency quotes. The broker has more than 70 different currency pairs in its arsenal, which are traded in increments of 10,000 base units (0.1 lot). The broker does not charge a commission, but there is a trade value expressed in the spread. The market spread is from 0.00 pips (percentage in points) depending on the current volatility and liquidity of the currency pair.
The Thinkorswim platform is full-featured with multi-level market and trade statistics analysis tools. Most of it is not needed for Forex, but Forex's access is possible only through this platform. One of its drawbacks is that it will be challenging to implement classical algorithmic strategies from MT4.
Useful features of the Thinkorswim platform:
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On-Demand is a debugging strategy based on historical data with tracking quotes in real-time.
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Control of Level 2 market depth, and fast rewinding when testing strategies.
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Built-in screener for stocks and options and options board. It can be used to analyze co-related instruments and the corresponding forecast for currency pairs.
Advantages:
The TD Ameritrade’s Thinkorswim platform’s functionality is, in many ways, superior to the classic MT4.
Market exchange real spreads without markup, commissions, and other brokerage margins.
Scalping and algorithmic trading are allowed but regulatory restrictions may apply to hedging and high-risk tactics.
User Satisfaction