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thinkorswim


 

                             
 Company information

 Broker's name: thinkorswim, Division of TD Ameritrade, Inc.

 Website: www.thinkorswim.com  

 Headquarted in Chicago, IL, USA

 Regulated by: FINRA, SIPC, NFA

 E-mail Address: help@thinkorswim.com 



Based out of Illinois, Think or Swim is a broker specializing in option trading. Their pricing structure caters to high volume traders and is intended to weed out smaller investors not willing to purchase large quantities in a single trade. They don’t charge some of the maintenance or inactivity fees you’ll see at other brokers. Their customer service is top notch and actually proactive if you are a big enough client. Overall ThinkorSwim is pushing the envelope on tools, software, and charting but may not be the best choice for newbie investors. If you are new to the game it doesn’t hurt to open an account because they don’t have an inactivity fee.
Advanced Trading Platform
Entering and executing orders is fast. It has many advanced features which only experienced traders will truly appreciate. Charts are second to none. Everything a trader might want is included for free. The company provides live streaming CNBC news, a scan tool for finding stocks that meet certain criteria, and a watch page that keeps track of things like dividend dates and stock splits. There are also live broadcasts from the S&P 500 pit as well as Shadow Trader. 
One of the finest features of Thinkorswim is Analysis tab. It allows users to instantly view an active risk graph that will exactly show the most probable look of any trade setup. In addition to this, it will also instantly show the latest risk graph for any planned adjustments to the current trades a user might want to make. These are usually the kind of things found only in proprietary software, which is always very expensive. 
Thinkorswim also offers ThinkBack feature that permits traders to backtest strategies and access historical options prices. Users may also perform a chance analysis for any existing or potential trade. This way they will be able to identify if it’s worth trading or not and therefore lowering their risk factor.
Traders that like to scan the market for several strategies, such as straddles or covered calls, can employ the trading platform's Scan feature. Another popular tab on the platform - Marketwatch - gives access to vital information like upcoming earning reports, stock splits and others. 
When entering a trade, a user will be guided on the trading steps and strategies that can be employed. In addition, a user can arrange orders in an Order Book and analyze them prior to sending them to the market. Thinkorswim’s Confirm and Send screen even provides an immediate snapshot about the potential profits, brokerage fees as well as risks in the projected trade. Everything is detailed and made easy to understand. 
Customers also have access to Thinkorswim's virtual trading account that provides them with "paper" (virtual) $100K that can be used to test and refine their strategies. 

TD Ameritrade offers assorted account types for those wishing to begin an investment portfolio:

- Standard Accounts: Individual, Joint Tenants, Tenants in Common, Community Property, Tenants by Entireties, Guardianship or Conservatorship

- Education Accounts: 529 Plans, Coverdell Education Savings Account, Custodial Uniform Gift to Minors Act

- Retirement Accounts: Individual Retirement Arrangements (IRAs), 401(k), and Pension or Profit Plan

- Specialty Accounts: Trusts, Limited Partnership, Limited Liability, Partnership, Sole Proprietorship, Corporate, Non-Incorporated and Small Business Plans.

Fees & Commissions

  • Stocks and ETFs: $9.95, 5,000 shares maximum
  • OR $0.015 per share, $5 minimum
  • Options: $2.95 per contract OR $1.50 per contract plus $9.95 (only one $9.95 charge for unlimited spread legs)
  • Mutual funds: first three mutual fund trades in calendar month are free; $15 per trade after that
  • Bonds: up to 6 months maturity – $1 per bond
  • Over 6 months up to 1 year maturity: $1.50 per bond
  • Over 1 year maturity: $2 per bond
  • Treasuries: minimum order is $25,000 ($25 minimum commission)
  • All other bonds: minimum order is for 10 bonds ($25 minimum commission)
  • Futures: $3.50 per contract (inclusive of exchange fees)
  • Options on Futures: $3.00 per contract (inclusive of exchange fees)
  • Minimum to open account: $3,500



Comments

  • Tomasz Kulis They have great bonus system and I left with good impressions.



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