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Thinkorswim is a comprehensive trading platform offered by TD Ameritrade, designed to provide traders with powerful analytical tools, charts, and data for stocks, options, futures, and Forex trading.
Since its inception, Thinkorswim has become renowned for its sophisticated technology, extensive features, and ability to accommodate both novice and experienced traders. Its robust platform caters to those who seek in-depth analysis and real-time data to make informed trading decisions.
Thinkorswim stands out as a premier trading platform for its comprehensive features, advanced analytical tools, and accessibility for traders of all levels. Whether you’re interested in stocks, options, futures, or Forex, Thinkorswim offers a robust suite of tools to conduct in-depth market analysis, execute trades, and develop sophisticated trading strategies. Its combination of powerful technology, educational resources, and integration with TD Ameritrade’s brokerage services makes Thinkorswim a top choice for serious traders looking to maximize their trading potential.
Integration with TD Ameritrade
As part of TD Ameritrade, Thinkorswim users benefit from the brokerage’s extensive resources, customer support, and account security. Traders can access the platform by opening an account with TD Ameritrade, which provides the added convenience of integrating trading activities and account management under one umbrella.
Key Features of Thinkorswim
Advanced Charting: Thinkorswim offers advanced charting capabilities, allowing traders to analyze financial instruments with a wide range of technical indicators and drawing tools. Users can customize their charts, save layouts, and access historical data to conduct thorough market analysis.
Powerful Analytics: The platform includes a variety of analytical tools, including risk analysis, probability analysis, and technical analysis, providing traders with insights into market dynamics and potential trading strategies.
Paper Money: Thinkorswim’s paper trading feature, known as Paper Money, allows users to practice trading strategies in a simulated environment with virtual money. This feature is invaluable for beginners who want to learn the ropes without financial risk, as well as for experienced traders testing new strategies.
Options Trading: Thinkorswim is particularly well-regarded for its options trading capabilities. The platform includes tools for analyzing options strategies, visualizing potential profit and loss scenarios, and scanning the market for options trading opportunities.
Futures and Forex Trading: In addition to stocks and options, Thinkorswim provides access to futures and Forex markets, offering a wide array of financial instruments for trading on a single platform.
Customizable Workspace: The platform allows users to customize their trading environment according to their preferences and trading style. Multiple workspaces can be saved and accessed, enabling traders to switch easily between different trading tasks and analyses.
Educational Resources: Thinkorswim offers an extensive range of educational materials, including tutorials, webinars, and articles, to help traders improve their trading skills and knowledge.
Mobile App: The Thinkorswim mobile app brings the comprehensive trading experience to smartphones and tablets, offering advanced trading features, charting, and analysis on the go.
Frequently Asked Questions about Thinkorswim
Do I pay a monthly fee to use Thinkorswim?
No, Thinkorswim is available for free for TD Ameritrade traders. You will pay commissions and fees (when applicable), but there is no monthly or annual fee.
Can Thinkorswim be used for after-hours trading?
Yes, it is possible to use Thinkorswim for trade during extended hours (pre-market and after-hours trading sessions).
Can I use Thinkorswim for automated trading?
No, at the time of writing, Thinkorswim does not support automated trading.
Can I install thinkorswim on a Mac?
Yes.
Download the thinkorswim.dmg installer file from thinkorswim.com.
Open the file and start the installation. Follow the instructions on the screen.
If your computer refuses to run the application because it wasn’t downloaded from the Mac App Store, consult the thinkorswim website or customer support for help with an easy workaround.
What is a “Pattern Day Trader”?
A pattern day trader (PDT) account is a margin account that has executed more then three roundtrips in a five-business day period. The PDT account must maintain a day trading minimum equity of $25.000 of any day on which trading occurs (start-of-day value).
In this context, day trade equity consists of marginable positions, non-marginable positions, and cash. Mutual funds held in the cash sub-account, and funds held in the Futures or Forex sub-accounts, are not included.
A PDT account that falls below the treshhold can prevent restrictions by not daytrading.