Thinkorswim Trading Platform Review 2024, Pros & Cons

Thinkorswim Trading Platform Review 2024: Thinkorswim by TD Ameritrade provides an institutional-caliber trading platform packed with education, analysis, and trading tools catered to active US-based traders.

What is Thinkorswim & TD Ameritrade?

Created by Thinkorswim Inc. and now owned by TD Ameritrade, Thinkorswim delivers robust self-directed trading aligned with mobile access and integrated support.

Key Details About Thinkorswim

Type Trading Platform
Focus US Stocks, Options, Futures
Owner TD Ameritrade
Users 10+ million
Platforms Desktop, Web, Mobile

With integrated brokerage services targeted at passionate US traders alongside powerful software, Thinkorswim hits the mark on capability and convenience.

thinkorswim trading platform review 2024

Thinkorswim Trading Platform Review

As an industry leader for active traders, Thinkorswim stands out for its combination of capabilities and customizations aligned with integrated education.

Standout features include:

  • Advanced charting with hundreds of technical studies
  • Virtual trading and custom scanner development
  • Access structured education curriculum and webinars
  • Integrated US equities, options, and futures trading
  • Personalized digital coaching and guidance

Thinkorswim excels at catering to committed traders looking to expand their toolset and trader IQ in a unified platform environment.

TD Ameritrade Trading Pros & Cons

Pros Cons
Robust charting and screening capabilities Complex tools have a learning curve
Virtual paper trading mirrors the real platform Primarily US-focused instruments
Integrated trading and education ecosystem Higher margin rates than discount brokers
24/7 commitment to traders via multiple channels ThinkDesktop install requires some tech comfort

For traders demanding professional-grade tools alongside personalized guidance, Thinkorswim from TD Ameritrade checks the boxes. However occasional traders may find better value through discounted pricing elsewhere.

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Thinkorswim Paper Trading

The virtual paper trading capabilities of Thinkorswim provide an identical experience to live trading for practice.

Key paper trading features:

  • Mirrors real-time streaming quotes
  • Simulates order execution experience
  • Supports options and margin
  • Seamless transition to a funded account
  • Identical web and desktop experience

With the high-fidelity simulated environment, Thinkorswim paper trading allows building skills and testing strategies before putting capital at risk.

Thinkorswim Download for Desktop and Mobile

Accessing Thinkorswim’s powerful suite of trading tools across devices takes just minutes:

  1. Visiting thinkorswim.com and logging in
  2. Hovering over Support and selecting Download Center
  3. Choosing the desired platform install files
  4. Following the installation guide prompts
  5. Connecting application to funded TD Ameritrade account

Quick-start installation guides remove friction throughout the download process across desktop and mobile applications.

How to Open a Brokerage Account @ www.tdameritrade.com

Opening a TD Ameritrade brokerage account with Thinkorswim access can be done fully digitally in minutes:

  1. Visit tdameritrade.com and click “Open Account”
  2. Choose the desired account type – individual, joint, IRA, etc
  3. Complete the personal details application
  4. Electronically sign client agreements
  5. Transfer opening deposit amount
  6. Access the robust Thinkorswim suite!

With no minimum balances and $0 commissions on US online stock, ETF, and options trades, TD Ameritrade prioritizes value and convenience alongside power.

How to Buy Shares Using Thinkorswim Platform?

Executing stock trades is seamless from within the Thinkorswim environment:

  1. Search stocks by symbol, filters, or screening scans
  2. Analyze fundamentals, options data, charts, research
  3. Input trade details like route, quantity, and risk controls
  4. Review order and confirm submission to TD Ameritrade
  5. Purchased shares reflected in the account
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Active traders can rely on proven execution and support from integrated Ameritrade while benefiting from Thinkorswim’s elite analytics.

Thinkorswim Brokerage Fees / Pricing

The Thinkorswim platforms themselves come included standard with TD Ameritrade accounts. Related commission pricing is competitive:

Equities & Options

  • $0 online stock, ETF & option trades
  • $0 virtual trading with paperMoney

Margin Trading

  • $0 online trades also apply
  • Lower margin rates via Select pricing

For high-volume traders, the Lightspeed platform discounts commissions further. Customizable Active Trader Pro pricing aligns lower fees with account activity requirements too.

Thinkorswim Rewards & Commission Credit

TD Ameritrade provides various promotions to reward client activity including:

  • New account bonuses up to $2500 cash
  • Refer friends – get up to $200 cash
  • Reduced margin rates for larger balances
  • 30 days of commission-free trading

Meeting minimum qualifications activates benefits accessible directly within the Thinkorswim platform experience.

How to Access My Account @ www.tdameritrade.com

Logging into TD Ameritrade trading accounts takes seconds:

  1. Go to www.tdameritrade.com, Click “Login to thinkorswim web
  2. Enter user ID and account password
  3. Complete any requested multi-factor authentication
  4. Access trading platforms and market analysis!

Clients can also access TD Ameritrade accounts directly within native Thinkorswim experiences across desktop and mobile applications.

How to Withdraw Money from TD Ameritrade?

Withdrawing funds from a TD Ameritrade trading account follows a transparent process:

  1. Log into the website or application
  2. Navigate to the Transfers page
  3. Select the desired withdrawal account
  4. Input amount to transfer
  5. Review and submit a secure request
  6. Allow 1-3 days for processing

Detailed transfer history and status tracking provide insight into pending requests.

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How to Add Money to TD Ameritrade Account?

Depositing additional trading capital into TD Ameritrade accounts is straightforward:

  1. Login and access the Transfers portal
  2. Choose desired deposit method – ACH, wire, etc
  3. Input amount to deposit into account
  4. Confirm details and securely submit
  5. Online ACH reflects in 1-3 days

Repeated or occasional deposits through connected bank accounts or external wallets simplify fuelling accounts for the active trader.

How to Buy & Sell Stocks with Thinkorswim

The unified Thinkorswim experience supports efficient trade execution:

Buying Stocks

  1. Search across asset classes
  2. Develop options strategies
  3. Analyze ratings, charts, Greeks
  4. Input order details and route
  5. Filled orders reflected in the account

Selling Stocks

  1. Visit account positions
  2. Select the order line item
  3. Modify take profit, stop orders
  4. Review and confirm the order
  5. Proceeds deposited after fills

Throughout, Thinkorswim provides professional-grade execution integrated natively into its analysis toolkit for efficient flows.

Thinkorswim Customer Service & Contact

TD Ameritrade provides exceptional trader support including:

  • 24/7 phone, email, and chat
  • Local branch offices
  • retail locations for in-person support
  • Active social community of traders
  • Personal support dedication

Go to the ‘Contact Us‘ page for more help and supports

For new traders and active investors alike seeking personalized guidance, TD Ameritrade’s holistic approach excels thanks to its integrated tools and education built directly into Thinkorswim access.

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