thinkorswim Review 2017

thinkorswim Review 2017

thinkorswim Review 2017

Today we have for you something slightly different than usual. thinkorswim is not actually a broker, but a trading platform owned by TD Ameritrade, a company that has been in the trading business for more than 40 years. In fact, the platform is so successful that you could almost say that it has a life of its own, with separate website for it and many traders who trade only there. That is why we absolutely needed to take a look at it and see what it has to offer. Our team is on the job and, as always, has loads of information to share with you in this thinkorswim review. Read on and learn everything you need to know about the ultimate forex trading platform.

thinkorswim Review | Login and account creation

The first thing you need to do to access this platform is to complete the thinkorswim login process, which means you have to have a trading account. Since we have already said that TD Ameritrade is the broker responsible for this platform, this means that your thinkorswim account is actually a TD Ameritrade account. But don’t worry; this doesn’t make opening one more difficult because you can create your account right there on the platform’s website. After stating your basic personal information, you will get to choose the type of account you want to open and answer a bunch of other questions before you can move on to the next step. The whole process has five steps in total and each of them clearly shows that you are dealing with a very professional company. The final step includes creating your thinkorswim login details and after that you’ll be ready to roll.
What is also important to mention here is that thinkorswim traders from Canada, Singapore and Malaysia have separate websites where they can open their accounts. If you are a resident of these countries, simply click on the link to the country you belong to during the first step of the account creation process and you will be taken to the website in question and be able to enjoy everything this platform offers. But let’s move this thinkorswim review on and see which features you get with it.

thinkorswim Account Page

thinkorswim Account Page

thinkorswim Review | paperMoney demo account

Probably the best way to get started is to start trading in a way that has no risk attached to it. That way, you can relax and explore the thinkorswim platform as much as you want. True, you can’t earn any money either, but you can see exactly what the platform is capable of and what to expect from it. If this sounds like a good idea to you, thinkorswim paper Money is the perfect solution. Now, paper Money is an app you can download from the platform’s website and which allows you to test everything for free. It is also available for mobile devices, so you can use it on your smartphones and tablets without any problems. Essentially, this is your thinkorswim demo account with all the features of a real trading account. Therefore, you can learn, explore and create new trading strategies in a completely safe environment. There are a couple of things you need to know, though, First, if you create a real account with TD Ameritrade, you will automatically be registered with paperMoney and be able to use your demo account immediately. Second, once you sign up for this, the free trial you get will last you 60 days. That’s plenty of time to learn absolutely everything about this trading platform, just don’t let it surprise you when your free trial expires. Naturally, this is just one of the available features and the rest of this thinkorswim review will bring you more. Keep reading!

thinkorswim Mobile App

thinkorswim Demo Account

thinkorswim Review | Mobile app

Of course, like all other major trading platforms, this one is also available for mobile devices. You’ll be happy to know that thinkorswim app offers pretty much everything the desktop platform has because it is based on the Mobile Trader app. Forex, ETFs, futures and so much more is at your disposal there. What is particularly impressive is that you get access to in-app chat here and an absolutely staggering amount of indicators. Your charts also have a high degree of customization, which will delight more experienced traders. So, thinkorswim app equals Mobile Trader app, and this is the most popular app of this kind in the App Store right now, which really says a lot.

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Of course, you can also get it on Google Play, completely free of any charge in both cases. There are no hidden costs of any kind either, so essentially you can only profit from downloading this product because it will allow you to grab an investment opportunity as soon as it appears. To know how to recognize one, though, you may need to hone your trading skills first. Don’t worry; this trading platform will help you with that too. We will explain everything about that in the next part of thinkorswim review.

thinkorswim Mobile App

thinkorswim Mobile App

thinkorswim Review | Education

Although this trading environment is primarily meant for more experienced traders, don’t be afraid to test it out. There really are a lot of thinkorswim education materials you can use to upgrade your skills quickly. Where do we even start describing this section of the website? Well, for one thing, there is a detailed glossary you can check if you need to clarify what a trading term means. What we liked the most, though, are thinkorswim tutorials. They are divided into two categories (Basic and Advanced) and cover more than a dozen different topics. Each chapter is fairly detailed, so you can really dive in into everything and learn all the nuances of trading.
Another very useful feature of this training area is the fact that all thinkorswim drawing tools are explained very thoroughly, too. Basic tools include eight different topics, but there are also things like Fibonacci, regression and other more advanced tools you can explore. This will certainly improve your analytical skills significantly and help you detect market patterns much more easily. But even that is not all because there are also two big libraries focusing solely on indicators you can use – Studies Library and Strategic Library. Want to explore thinkorswim charts? No problem, this can also be done with ease! We could really go on and on about this, but we have more things to look at in this guide, so let’s not waste any time. In short, however, if you want a place where you really can learn a lot, this is most certainly it. Invest a bit of your time into education and you will quickly rise to the level of a pro trader.

thinkorswim Education

thinkorswim Education

thinkorswim Review | Support and contact

Given all the options this trading platform has to offer, many people often find themselves in need of information. Don’t worry, this does not mean you have to worry about Is thinkorswim a Scam, but simply that some effort has to be made in order to fully grasp everything the platform offers. Fortunately, there is a very good FAQ section on this website and we sincerely recommend you take a look at it because it can save you a lot of time, but sometimes it’s much better to talk to an actual person who knows everything about the way things work around here. thinkorswim customer service is there to help you out whenever you need it and they can really get the job done because they are traders themselves. Also, remember that the company in charge of all of this is TD Ameritrade, one of the most respected trading companies in the world, so the support you get has to be absolutely impeccable.

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In this case, there are several phone numbers you can call and an e-mail address you can use, but what we liked most was the live chat feature. People working there are always quick to respond and willing to help, so this turned out to be the most efficient way of getting information for us. That’s not to say that other thinkorswim contact methods are lacking in any way. Quite the contrary – they are quick and professional, too. But live chat does somehow seem like the easiest way to get things done. Still if chat operators are busy, it’s nice to know that you have other options, too. If all of this has sparked your interest, you simply have to read the next part of this thinkorswim review. Find out if you’re eligible to trade here!

thinkorswim Contact

thinkorswim Contact

thinkorswim Review | Who can trade?

Yes, we will now see who can trade here. In a word – everyone! From a technical perspective you have nothing to worry about because this trading platform runs on three different operating systems. The specifications can be found on the website, but we will mention here that you will need at least 4 GB of RAM and Windows 7 for PC or 10.10+ version of the operating system for Mac to run thinkorswim. thinkorswim Linux version is also available, so pretty much all operating systems are well covered. 
If your computer meets those requirements, you can proceed to downloading the platform. All you need to do is click on the “Download thinkorswim” button on the Trading page of the website and you’ll initiate the process and the installer will pop up on your screen. What we have to emphasize here is that the download and using this platform is completely free. There are no hidden costs or anything that you have to pay to access what this platform has to offer. When it comes to accessibility by country, we are happy to report that this platform is pretty much accessible all over the world. We mentioned some of the countries that accept allow trading here earlier, but we also have to say that thinkorswim US traders are very numerous. Not a big surprise there since the platform is used by a US company, but given the fact that traders over there don’t have that many options we thought emphasizing this was necessary. thinkorswim UK traders can also trade, but this may vary for the rest of Europe depending on your country’s legislation. Apart from this, there are many other interesting features this thinkorswim review hasn’t covered yet, so don’t go anywhere.

thinkorswim System Requirements

thinkorswim System Requirements

thinkorswim Review | Leverage and pricing

Let’s now take a look at some of the numbers that are vital for forex trading on this platform. The first thing we need to examine here is the thinkoswim leverage. Depending on what you’re trading, your leverage will be either 50:1 for major pairs or 20:1 for exotic currencies. These numbers are somewhat lower than what you usually get from forex brokers, but we have to say that major pairs here also include things like the Danish krone or New Zealand dollar, which is a much looser definition of major pairs than usual.

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If you’re interested in thinkorswim pricing, there really are many things to consider and enumerating them would probably take up more space than this whole article. This is because TD Ameritrade has different rates (and offer) for professional and non-professional traders. If you’re a non-professional trader, however, you have much less to worry about and thinkorswim news feed is a great example of that. It is completely free, just like getting various quotes, like OPRA, NYSE or AMEX. If you’re a pro, there will be a monthly fee to pay. 
No matter what you’re trading, we strongly recommend checking for option fees, trading fees, commissions or anything of the sort. Fortunately, the broker has laid out everything very clearly, so you can easily and quickly get the information you need. Before we go, however, there are some other features we need to mention which will definitely boost your trading experience. Stay tuned!

thinkorswim Home Page

thinkorswim Home Page

thinkorswim Review | Auto trading

Yes, apart from everything we have mentioned so far, there are even more interesting features here that can help you with your trades. For example, the way thinkorswim solved automated trading is pretty handy. The service is called Autotrader, and you can sign up for it without any additional fees and costs, plus there is no required minimum account size, either. What you do need, however, is the so called advisory newsletter because this is where you choose your Autotrader strategy. Apart from that, the trading works pretty much the same as with all other robots.
Another very important feature that need to be mentioned in this review you can use are the thinkorswim alerts. They are fully customizable and you can easily set everything up just by clicking the right mouse button while on the platform and selecting “Alerts”. After that, you can choose when you want your alerts to trigger and how you want to be notified about them. Therefore, you don’t need to be logged in constantly to monitor the asset you’re interested in. Simply set everything up to receive notifications to your e-mail address when the market conditions are right and you’ll be able to react immediately. As you can see, everything is done here to ensure maximum convenience for you, so you don’t need to worry about spending your time inefficiently. This is just the icing on a splendid trading cake and we wholeheartedly recommend you give this platform a shot, especially if you’re a fairly experienced trader. This is where we’ll end our thinkorswim review, but if you want a brief synopsis of everything you need to take from this article, just proceed to the conclusion.   

thinkorswim Alerts

thinkorswim Alerts

thinkorswim Review | Conclusion

To conclude, this platform is definitely one of the best ways for you to experience the forex market. It has been around for years and is continuously providing great trading opportunities to traders from all over the world, with many traders considering it the very best trading platform in the industry. Here you get absolutely everything you’d expect: easy access and simple account creation, great mobile version and loads of education materials. As a matter of fact, the latter feature is probably among the best we have ever seen in this industry. You really can expand your trading knowledge significantly with what you get here because literally every important trading topic is covered here. On top of all this, an excellent support team will always be there for you when you need information or help with anything. Of course, the level of detail of the market analyses you can conduct on this platform is exceptionally high thanks to the numerous tools you can use to make sense of all the numbers coming your way. Not only that, but you can also use a feature called Autotrader and customize alerts, so that you know exactly what’s going on even when you’re not logged in. Therefore, at the very end of this thinkorswim review, we think it’s pretty safe to say that here you have absolutely everything you need to be a high-profile trader. Sign up today, open an account and up your trading game with just a click! 

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Author's overall rating:
Author: Ben Prescott
Updated:

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