Don't miss

thinkorswim

By on August 9, 2012
Editor’s Rating
Tools & Research
Ease of Use
Range of Investments
Commissions/Fees
Overall

 

thinkorswim Logo

thinkorswim (now owned by TD Ameritrade) is an American online brokerage house that started its operations way back in 1999. It is currently based in New York with retail outlets elsewhere. They offer a wide range of investments which include stocks, options, bonds, ETF’s, mutual funds, CD’s, UIT’s, forex and futures.

In this thinkorswim review, I'll cover what thinkorswim has to offer, who they're right for, and give you guys some links to the latest thinkorswim promotions. If you've used thinkorswim before, please add your own rating and review below.


thinkorswim – The Basics:

Investments:

Stocks, options, bonds, ETF’s, mutual funds, CD’s, UIT’s, forex and futures.

Commissions:

Stocks and ETF’s cost $9.99. If stock and ETF trading is done with broker assistance then the rate for the same is $49.99 per trade. Options trading costs $9.99 in addition to contract charges of $0.75 each. The first three mutual funds trades in a month are free. Subsequently a rate of $15 is charged for each transaction. No load mutual funds cost $49.99. Treasuries have a flat fee of $25. Each futures contract costs $3.50.

Investor Education:

Live and online investor training classes.

Mobile apps:

Top-notch apps for iPad, iPhone, Android and Blackberry devices, besides having a mobile website.

Access to virtual trading and an active online trader community help you to make better trading decisions. They have a good and responsive customer service which is available 24/7 and can be reached via phone, email, live chat and through retail locations.

They have also been acquired by TD Ameritrade which happens to be one of America’s biggest brokerages. This can only mean good things for thinkorswim.

There is no minimum to open an account with thinkorswim (through TD Ameritrade). Apply for an account now.


Pros & Cons Of thinkorswim:

Pros

Cons

  • No account maintenance fee
  • No initial deposit to open up a cash account
  • Access to free virtual trading
  • Free streaming quotes
  • Online trader community
  • High commission rates
  • High margin rates
  • Low number of retail outlets

How Others Rated thinkorswim In 2012:

Barron's: N/A (TD Ameritrade was rated 4/5 stars)

         Highest rated category: Customer Service & Education (TD Ameritrade)

         Lowest rated category: Costs (TD Ameritrade)

Smart Money: 3rd Overall (TD Ameritrade)

         Highest rated category: Tie between Banking Services, Trading Tools and Research (TD Ameritrade)

         Lowest rated category: Commissions and Fees (TD Ameritrade)


Word On The Street Is…

thinkorswim was ranked the #1 brokerage overall in 2010; the fact that TD Ameritrade has now acquired the firm only serves to make their offering stronger. With this acquisition, thinkorswim is now a part of one of the biggest brokerages in USA.

Overall takeaway: Offerings in a huge range of investments and great mobile apps make thinkorswim a good brokerage for everyone but the price conscious, and especially those who prefer to trade via their phone. Beginner, novice and experienced traders will feel comfortable here.


thinkorswim Promotion Code:


Hit the link below to claim the latest thinkorswim promotion. Click below to claim promotion code Trade FREE for 60 days + get up to $600

Where To Open A thinkorswim Account:

Open A Personal/Joint/Custodial/Business Account With thinkorswim: Apply Here

Open An IRA Account With Thinkorswim: Apply Here

Open A Forex Trading Account With Thinkorswim: Apply Here


P.S. Don't forget, if you've used thinkorswim before, please help us by adding your rating and review below!

About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

Leave a Reply

Your email address will not be published. Required fields are marked *

Click stars below to rate.
Tools & Research
Ease of Use
Range of Investments
Commissions/Fees
Overall