The best Trading Software, Must to have Tool in Trading and Investing toolbox
July 28, 2022
The best Trading Software, Must to have Tool in Trading and Investing toolbox
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with thinkorswim
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.
- Day Trading
- Swing Trading
- Long term Investment
- Provide REST APIs for the developer.
- Platform keep crashing and this can be improved.
- Provide a journal Feature to evaluate the performance of trading
- Charting
- Alerting
- Placing Order
- Easy to place orders
- Easy to analyse stocks
- Easy to check over all portfolio
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.
Do you think thinkorswim delivers good value for the price?
Yes
Are you happy with thinkorswim's feature set?
Yes
Did thinkorswim live up to sales and marketing promises?
Yes
Did implementation of thinkorswim go as expected?
Yes
Would you buy thinkorswim again?
Yes
Evaluating thinkorswim and Competitors
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.
- 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.
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.