thinkorswim Review 2018
|Regulated by||FINRA, NFA, SIPC|
Trading Account Options
thinkorswim Trading Features
|24 Hours Support||Yes|
|Support During Weekends||Yes|
Customer Support Languages
|Supported Trading Platforms||paperTrading|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
- 3.0Scalpers beware!
I have been trading on this platform for over five years. I trade options both day and swing and Futures. Basically a great platform for charting ,indicators etc. However, if you're scalper, just note that if your are trading from the chart or even from the tree they will often take at least one tick or one point on either side of the trade. PLUS commision.So frustrating! If you want to beat them on this you have to manually adjust every single trade. And, even after manually adjusting, often times they will still take advantage. For example a five tick stop in their favor this evening. I hate this! As a scalper this is time-consuming.Rhonda
- 3.0Issues with real time updates of key indicators!
At first glance Ameritrade/TOS is a robust trading and analytics platform that comes included with having an account at Ameritrade.
But, I will cut right to the chase and say that if you're an experienced trader who relies on filters or such tools to suss out potential trading opportunities then Ameritrade is absolutely not the platform to use.
Even worse, although they advertise and offer a relatively robust menu of such tools, what you eventually find out, after dedicating countless hours to learning their language, is that it doesn't even matter because they don't have the bandwidth to provide real time updates on the most basic of indicators..like Average Volume and whatnot.
So, net net, you'll have a really impressive looking setup but when the bell opens in the AM you'll see glaring red codes like NAN(Not Available Now) and the ever present "loading"..which won't resolve until at least 2 hours into the trading day
Can I accurately relay how frustrating this is?
No, I can't!
So, after spending my valuable time chasing down the person in charge of such functionality at the home office he basically told me that "We're aware of this issue but unfortunately our bandwidth is prioritized toward our algo, black-box and flash trading clients"
And there you have it..
Pass!!Looks great at first glance, but............
- 1.0Good platform, everything else sucks
I pay $1.25/contract. Trading butterflies with $38000 I pay about $4500/ year. Thats 12% of my account value. 12% for submitting my orders!!!!!!!!!!!!!! Submitting my orders is the same as forwarding an email. When I called to ask what makes them worth 12%, they hung up on me!!!! This is the worst customer service I have ever encountered! They do not treat their customers respectfully. This company really went downhill after TD took over. I can't get filled on my orders without paying $.20+ over mid price. They messed up my margin so I can't trade as much, They send my 'open orders' as 'closing orders' to the exchange causing them not to go through right.
EVERYTHING ABOUT THIS COMPANY SUCKS now. I will only use them for my charts but will not be trading with them anymore. They are NOT worth 12% of my money.Philip
- 4.0think or swimI’ve been hearing about AmeriTrade so I decided to give it a try. Some of the reviews of non-US brokers are scathing. But I read up on it and found that thinkorswim is regulated by the SIPC, the FINRA and the NFA. So I’m not that concerned. I’m going to open a joint account with my husband.Cynthia Dunn
- 3.0Review of ThinkOrSwimI like that ThinkOrSwim has an autotrader. That’s really their best feature in my opinion. They take a long time to get an account open but once it’s funded trading’s not hard.Tom Bryant