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thinkorswim

thinkorswim

Overview

What is thinkorswim?

Thinkorswim, with its Investools division, is an American company offering live and online investor education services. In addition, through its brokerage subsidiary, thinkorswim, Inc., Investools provides services to funded trading accounts for self-directed option traders and institutional users who invest…

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Learn from top reviewers

The best Trading Software, Must to have Tool in Trading and Investing toolbox

Rating: 9 out of 10
July 28, 2022
IncentivizedVetted ReviewVerified User
Thinkorswim is really a great platform for trading. This provide all the features which are required for trading. The charting and Alerting feature is so powerful here. This p...
Continue reading
Sunil Agarwal
Engineer - Engineering
Technical Lead - SRE
Macy's
thinkorswim5 years of experience

It's a useful platform

Rating: 9 out of 10
July 26, 2022
IncentivizedVetted ReviewVerified User
We use it primarily to help us navigate the investment markets in real-time. We use the streaming quotes and charts, but also the live feed of CNBC during market hours. In par...
Continue reading
John E. Miller, MBA
Account Manager - Corporate
Managing Partner
Provident Capital Group LP
thinkorswim7 years of experience

A Green Ticket to Fly Straight to the Moon

Rating: 10 out of 10
January 13, 2022
IncentivizedVetted ReviewVerified User
The biggest help that TD Ameritrade's thinkorswim provides is the ability to test out investment strategies without the risk of losing real money. Also, this can be a great te...
Continue reading
Verified user
Director
thinkorswim3 years of experience
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Pricing

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thinkorswim

thinkorswim

N/A
Unavailable

What is thinkorswim?

Thinkorswim, with its Investools division, is an American company offering live and online investor education services. In addition, through its brokerage subsidiary, thinkorswim, Inc., Investools provides services to funded trading accounts for self-directed option traders and institutional users…

Entry-level set up fee?

  • No setup fee
For the latest information on pricing, visithttps://www.tdameritrade.com/pricing.ht…

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

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Product Demos

Thinkorswim Options Tab Demo

YouTube

Thinkorswim.com - how to enter a forex trade

YouTube

Thinkorswim Demo platform .mp4

YouTube

Como abrir paso a paso tu CUENTA DEMO en el broker ThinkorSwim

YouTube

ThinkorSwim Mobile App Tutorial for Beginners 2023 |Step-by-Step Guide to Trade on TOS Mobile

YouTube

Trading Futures on the thinkorswim Mobile App

YouTube
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Product Details

What is thinkorswim?

thinkorswim Competitors

thinkorswim Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo
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Comparisons

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Reviews and Ratings

(4)

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Users have reported that Thinkorswim makes it incredibly easy to place orders, surpassing other trading platforms in terms of user-friendliness. One of its standout features is the ability for users to access real-time financial market data, ensuring they are always up-to-date with market trends. Furthermore, Thinkorswim has gained popularity for consistently filling positions promptly, which is highly valued by traders for executing trades swiftly and efficiently. However, some users have expressed their dissatisfaction with the outdated UI/UX of the platform, considering it a detracting factor in their user experience. Despite this drawback, many users still rely on Thinkorswim for their regular trading activities on a weekly or monthly basis and commend its risk profile illustrations for each trade. The charting feature of Thinkorswim receives exceptional praise as it allows users to draw lines, add features, and incorporate indicators to enhance trading profitability. These numerous trading and investment tools cater to diverse user needs. Its centralization of market monitoring, strategic planning, and order execution makes it an indispensable tool for many traders. Additionally, Thinkorswim actively educates its users about investing in the stock market through web resources and live seminars. In general, users perceive Thinkorswim as a beneficial and well-designed platform for their investments through TD Ameritrade.

Excellent Trading Platform: Thinkorswim is consistently praised by users as an excellent trading platform that offers all the necessary functionality for trading. Many reviewers have expressed their satisfaction with the platform's comprehensive set of tools and features, making it a powerful tool for analyzing and applying trading strategies.

User-Friendly Interface: The user interface of Thinkorswim is highly regarded for its great design and ease of use. Numerous users have commented on how intuitive and convenient the interface is, even for novice traders. This positive sentiment reflects the platform's success in providing a user-friendly experience to its customers.

Wide Range of Trading Tools: Users appreciate the wide selection of trading tools available in Thinkorswim, which enhances their ability to analyze and apply various trading strategies. From scanners and heat maps to company profile tools and access to third-party research, this platform has everything that advanced traders would want. This aspect has been mentioned by many reviewers as a major advantage of using Thinkorswim.

API Improvement Needed: Some users have expressed disappointment with Thinkorswim's API, stating that it needs improvement and the data fetched from the API is not clean. They suggest that Thinkorswim should make enhancements to their API functionality.

Overwhelming Platform: Several reviewers find the platform overwhelming and complicated to use, mentioning that there are too many tools and a steep learning curve. This can be off-putting for new users who may prefer a simpler interface.

Complex User Interface: The user interface of Thinkorswim has been described as complex and not intuitive, requiring patience to navigate and find the necessary functions. Users feel that it would benefit from a more streamlined design to improve user experience.

Users have provided some recommendations based on their experiences with the software. The three most common recommendations are:

  1. Some users suggest using a more streamlined platform or the company's standard web trading platform instead of the overwhelming platform.

  2. Users highly recommend the software as a great tool for getting started, especially for those with experience investing.

  3. Users advise signing up for a free paper money account to test trading before diving into live trading.

In summary, users commonly recommend exploring alternative platforms, highlighting the software's benefits for beginners, and suggesting a paper money account for practice before live trading.

Reviews

(1-3 of 3)
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The best Trading Software, Must to have Tool in Trading and Investing toolbox

Rating: 9 out of 10
Incentivized
July 28, 2022
SA
Sunil Agarwal
Technical Lead - SRE
Macy's (Retail, 501-1000 employees)
Vetted Review
Verified User
thinkorswim
5 years of experience
View profile
Use Cases and Deployment Scope
Thinkorswim is really a great platform for trading. This provide all the features which are required for trading. The charting and Alerting feature is so powerful here. This platform can be used for all type of trading , Day trading , Swing Trading and Long term investments. I have used various platform but this one of the best platform so far. Thinkorswim UI is so powerful and use friendly.
Pros and Cons
  • Day Trading
  • Swing Trading
  • Long term Investment
Likelihood to Recommend
Thinkorswim is best suited for day trading, Swing Trading and Long term investment. Its very easy to generate chart. Various type of analysis can be perfoemd using this product. On top of that, It provide easy way to setup alerts. It provide capability for place various type of order like OCI order, Bracket order which is missing in other platforms. This is very less suited for creating Trading Journal as this doesn't provide those features.
Most Important Features
  • Charting
  • Alerting
  • Placing Order
Return on Investment
  • Easy to place orders
  • Easy to analyse stocks
  • Easy to check over all portfolio
Alternatives Considered
I have used robinhood in past, but it didn't find poerful charting feature in robinhood hence it very difficult to analyze the stocks. but Thinkorswim has great charting platform which help user to analyze the stocks in easy way to make the trading decisions. Also, It provide OCI Bracket order feature which was missing in robinhood. hence I had to swich from robinhood to Thinkorswim.
Other Software Used
Products Replaced
Yes
robinhood was replaced by Thinkorswim product. Thinkerswim provide great Charting , Alerting and Order placement feature which are missing in robinhood. It is very east to creat various charts using Thinkorswim and take trading decisions. These feature are missing in robinhood. Also, We can do programing and create our own indicators OR we can modify the indicators in ThinkerSwim.
Key Differentiators
  • Price
  • Product Features
  • Product Usability
Product Feature is most important to decide which product to use. The product should be feature rich and it should provide all the basic feature required for the trading. ThinkSwim has the custom Indicator feature which is very powerful for advanced trading and we can use these indicators to generating various analysis and take the decisions. Also, can create various alerts in easy way.
Evaluation Lessons Learned
If I had to do it again, I would like to go through all the features first and perform a small POC to check if product is performing basis operations which are required for the business. Also, Comparing various products in market is very important. Product should have both Mobile and Desktop versions available and it should provide easy to use User Interface.

It's a useful platform

Rating: 9 out of 10
Incentivized
July 26, 2022
JE
John E. Miller, MBA
Managing Partner
Provident Capital Group LP (Financial Services, 1-10 employees)
Vetted Review
Verified User
thinkorswim
7 years of experience
View profile
Use Cases and Deployment Scope
We use it primarily to help us navigate the investment markets in real-time. We use the streaming quotes and charts, but also the live feed of CNBC during market hours. In particular, the chart setup with the upper and lower studies uses MACD, Bollinger bands, and the moving averages.
Pros and Cons
  • The appearance of the platform.
  • The customization of the platform.
  • The news feed.
  • The ability to customize or link the windows with others.
Likelihood to Recommend
I think this site does a great job in providing the information that any day trader, market timer, or long-term investor. I think that it is useful to all types of people who would take the time to understand it. Now it could be extremely overwhelming to a novice or someone who has difficulty understanding ding financial concepts, but to those that are willing it's a great platform.
Most Important Features
  • Quote grids with listing
  • Chart studies
  • Level 2
Return on Investment
  • It has allowed up to provide detailed analysis.
  • Keeps us well informed of stock positions.
  • Stock activity like dividends and reorgs.
Alternatives Considered
Both are pretty good; Schwab seeks out a little for other reasons. Like custodianship and service. But soon it's not going to matter as both firms are set to become one pretty soon.

A Green Ticket to Fly Straight to the Moon

Rating: 10 out of 10
Incentivized
January 13, 2022
Verified User
Vetted Review
Verified User
thinkorswim
3 years of experience
Use Cases and Deployment Scope
The biggest help that TD Ameritrade's thinkorswim provides is the ability to test out investment strategies without the risk of losing real money. Also, this can be a great teaching tool for a novice who is just getting into stock trading. Although the UI can be intimidating at first, it only takes a few days before being comfortable with the program. TD Ameritrade's thinkorswim allows for a range of trading strategies such as simple buy or sell of shares to more complex option trading methods.
Pros and Cons
  • Ease of use
  • Learning tool without risk
  • Wide range of trading strategies
  • Generous free trial period
Likelihood to Recommend
I would not hesitate to recommend thinkorswim to someone who wants to get into the stock market. The opportunity to use "paper money" can help beginners learn the fundamentals of trading without any risk. Although the trial period is only 60 days, [that's a] good amount of time for new users to learn enough before venturing out into the real world. Adding to the positives, thinkorswim mobile app is superb and a great way to keep up with your portfolio on the go.
Most Important Features
  • Mobile app is easy to use.
  • The use of paper money opportunity to be used by beginners.
  • Merging with Charles Schwab provides peace of mind.
Return on Investment
  • No negative impacts so far, the use of paper money through thinkorswim helps lower risk of negative results.
  • A positive impact is the use of thinkorswim through the web, desktop, or mobile device.
  • To reiterate from before, thinkorswim is invaluable help to a business or person learn about the stock market without any risk of losing and be confident about their skills prior to using real money.
Alternatives Considered
I have personally used Charles Schwab mobile app and online page for about 3 years and have been thoroughly satisfied. Before TD Ameritrade and Charles Schwab merged, I had used thinkorswim for the 60-day paper money trial before using my real money on investments. I confidently believe the time I've spent on thinkorswim has helped me mitigate any big losses in my investments. As for robinhood, the mobile app is a lot better for beginners to understand and the UI can be described as more aesthetically pleasing. thinkorswim triumphs in many other aspects [as well] such as being backed up by TD Ameritrade and Charles Schwab and the plethora of knowledge [a user can access].
Other Software Used
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