ThinkOrSwim Review – An In-Depth Look at This Trading Platform

ThinkOrSwim Review


Ease of Use


ThinkOrSwim is a trading platform supplied by TD Ameritrade. The platform is totally free for Ameritrade customers and offers a wide variety of features, including charts, level 2, scanners, watch lists, and more. The platform likewise provides the choice to pick between live trading or paper trading.

Order Execution



Is this platform worth utilizing? Keep reading our ThinkorSwim evaluation to discover out.


About ThinkorSwim.

Level 2

ThinkorSwim is a trading platform offered by TD Ameritrade. ThinkorSwim (TOS) is their advanced level standalone platform for severe traders.

How Much Does it Cost to Use ThinkorSwim?

Extra Features.

The Swim or think platform is one of the finest trading platforms on the market. It is prudent to have numerous desktop monitors to really utilize the complete range of tools in the software application. Still, ThinkorSwim is one of the best trading platforms out there.

Users can draw trend lines and likewise plot Fibonnacci retracements, which are 2 of my preferred cost action tools. There are a ton of instructional tutorials, webcasts and course material.

Educational Content.

The newsfeed works when searching for details pertaining to specific stocks. It updates in real-time and benefits momentum traders that get on news-related price action. This doesnt change a standalone news service like or TheFly, however it will appropriate for casual traders who want to have access to essential headings.

Technical Indicators.

This is a standard scanning tool with performance similar to FinViz or StockFetcher. It is not a replacement for tools like Trade Ideas and Equityfeed, but its a nice complimentary addition to the TOS service.

ThinkOrSwim Platform Features.

Order Entry.

While the chat room is a nice complimentary addition to the service, major traders are likely to choose a chatroom like Investors Underground.


ThinkorSwim has more technical studies and indications that you could ever utilize. They are arranged by classification like momentum research studies, moving average research studies, trend research studies to particular tailored research studies of experts like John Carters studies or John Persons research studies. I actually like the Bullish-only and bearish-only candlestick pattern studies, which recognizes when a selected pattern kinds.

See Lists.

ThinkorSwim is a feature-rich, all-in-one desktop platform. Users will likewise have access to a mobile app (ThinkorSwim mobile) and web-based variation of the software, however the desktop platform will be the focus of this ThinkorSwim review.

Customization And Saved Layouts.

Options Trading.

The scanner can be configured based on technical or basic criteria. It is flexible and efficient for finding ideas and prospective trades. The choices scanner is a fantastic tool to find options trades that meet particular set-up requirements.

Personally, I like to have linked windows with a 1-minute, 5-minute and 15-minute chart, which gives me a larger viewpoint of the short-term price action. Whenever I change the sign, it updates the information at the same time throughout all linked windows.

Ameritrade TOS supplies a neighborhood chat room with hundreds of traders of all skills and experiences. There are absolutely some great traders in there however I never trust free chat rooms.

ThinkorSwim is readily available totally free for T.D. Ameritrade clients. You can get access to real-time information as long as you have a financed TD Ameritrade account. Ameritrade provides additional data streams for an additional regular monthly expense, however the free information will appropriate for a lot of traders.

Level 2 is a necessary tool for stock trading, so its absolutely good that it is consisted of as part of the service.

If you wish to trade within the platform, you will go through TD Ameritrades commission schedule. You can trade stocks and ETFs totally free. Options will incur a cost of $0.65 per agreement.

TD Ameritrade and ThinkorSwim have a huge library of tools and videos to get you accustomed. The interactive courses do a good job of assisting self-directed traders to get all the ideas and techniques required to efficiently navigate through the platform. There is also the Education Center which has online courses that brand-new traders or investors can utilize to find out about various subjects including stocks, alternatives, futures, technical analysis, with access to courses, podcasts and webinars.

I got annoyed whenever I altered a symbol, the upgraded charts would be compressed and require manually expanding them to be readable. Here is a major tip to fix this concern. Go to Click and chart settings Time axis and ensure “Keep time zoom” is examined. This will enable any new signs to be updated on a beautifully revitalized legible chart.

If they have any problems with the platform, ThinkorSwim users can reach TD Ameritrade consumer service. While there are plenty of resources and guides online, you can call or email TD Ameritrade if you have any specific questions. They have terrific service and are generally prompt with their actions.

TOS has preprogrammed watch lists with gappers/dumpers, brand-new highs/lows and stocks trading at specified volume and cost change levels. It also has watchlist windows that I can include my own watchlist stocks and have them linked to my charts. Watchlist settings are configurable as are most things on this platform.

The level 2 is basic and shows the major exchanges and ECNs. There is no subscription presently to the NYSE Open book or Nasdaq TotalView feeds. On the other side, level 2 is complimentary, so no complaints there from me.

TOS was originally an independent alternatives trading platform prior to Ameritrade purchased them. This is the best platform for anybody who trades alternatives.


Customer care.

The platform lets you place cost or indication based notifies, that makes it much simpler to focus on the set-ups currently on your plate and not fret about monitoring what hasnt triggered yet.

Traders can utilize traditional bar, line, and candlesticks for charting. ThinkorSwim likewise has less traditional charting using Heikin Ashi and Equivolume charts.

If this is your very first time utilizing a trading software, there is a small learning curve, however ThinkorSwim is relatively simple to use when you master it.

You can save your designs and likewise post them up for others to utilize or to share with good friends who also utilize TOS. The layouts are saved money on the cloud so you can utilize them on different computer systems and devices, which I discovered hassle-free. There are a variety of other functions that the thinkOnDemand which lets you replay the market throughout past time durations to much better train yourself and fine-tune your tools. The API is also programmable which lets computer-saavy traders program in their own indicators or modify existing ones.


TOS has fundamental order entry buttons utilizing point-and-click on Level 2 for prices selection. Traders can likewise decide to utilize a vertical DOM matrix to location orders. TOS does not permit direct order routing and rather uses its own algorithms to fill orders through their own dark swimming pool. This can produce some difficult openness on fills, but it must be anticipated considering that TDAmeritrade is not a direct access broker.

ThinkorSwim Platform Differentiators.

Level 2.



ThinkorSwim uses a suite of effective trading tools for both newbie and advanced traders.

The main reason numerous traders use ThinkorSwim is for the charting functions. These are certainly among the stars of the service.

What Type of Trader is ThinkorSwim Best For?

Believe or Swim initially started as an independent choices trading platform before Ameritrade obtained them. Choices traders will most likely get the most advantages out of this platform. As made complex as the platform may appear, it is truly catered to the brand-new trader who does not care about pass-thru refunds or order routing.

For the beginner traders, this is an excellent value with all the additional education benefits that include the platform. This is the platform utilized in the popular novice course by Ricky Gutierrez.

Active intra-day traders will discover the costly per-trade commissions and absence of direct access routing to be cost-prohibitive. The absence of direct-access also means no pass-thru refunds, which active traders count on to lower commission expenses. These traders might choose a day trading broker. Very large position traders will discover limitless sizing with zero commissions to be more cost-efficient, offered they use rigorous limit orders on fills.

Is ThinkorSwim A Good Value?

TOS a jack-of-all-trades, which is extremely versatile for portfolio trading and management, however can spread out thin in areas requiring deeper concentration like direct order routing. The very best part of the platform is that it is definitely free to evaluate out in “fiat money” mode, which is their demonstration mode. The platform itself does not cost additional, which is a remarkable worth, specifically because the quote and news feeds are consisted of in the demo. As I pointed out in the past, I cant assist the sensation that there is a little too much focus on cosmetic improvements and not adequate focus on what active stock exchange traders may need like per-share prices, ECN rebates and direct gain access to order routing.

Is ThinkorSwim Better Than Robinhood?

No direct-access routing.
Expensive per-trade commissions of $6.95 bad for scaling in and out.
Can be a huge resource hog.

Robinhood is a mobile trading app, whereas ThinkorSwim is a robust trading software application. The 2 arent really even similar. ThinkorSwim has WAY more functions in the platform and TD Ameritrade uses way more services as a broker.

ThinkOrSwim is a trading platform offered by TD Ameritrade. ThinkorSwim is a trading platform offered by TD Ameritrade. ThinkorSwim (TOS) is their innovative level standalone platform for severe traders. The Think or Swim platform is one of the finest trading platforms on the market. Still, ThinkorSwim is one of the best trading platforms out there.

Free software and data feeds.
No month-to-month upkeep or inactivity feeds.
Easy to find out platform.
Enormous amounts of tools, studies and educational material.
Constantly improving with upgrades.
Multi-market trading platform.
Great for knowledgeable choices traders, financiers, intra-day and portfolio traders.

Given that the time of our initial ThinkorSwim evaluation, weve had a couple of traders connect and ask how this platform compares to Robinhood.


The short answer is, ThinkorSwim is 1000x much better.

The main attraction to Robinhood was the zero-commission trading. Now that TD Ameritrade has zero-commission trading also, theres truly no reason to utilize Robinhood rather (unless you choose the simpleness).