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thinkorswim

Published by
On Wednesday, June 11th, 2014 .

Overview

Dislikes

Please see our TD Ameritrade Review.

Thinkorswim by TD ameritrade is an online broker that offers low cost stock trades to its large client base of investors. Thinkorswim by TD Ameritrade provides its traders with a wide spectrum of tools for the self-directed investor. Forex and bond trading can also be performed with a TD Ameritrade online trading account.
Blain Reinkensmeyer

Reviewed by

Blain has been involved in the markets for over 12 years, heading StockBrokers.com equity broker research and reviews. His personal blog, StockTradingToGo.com, provides to-the-point daily market recaps to over 17,000 subscribers.

Commission Notes

Trade Commissions Breakdown

$9.95 Stock Trade Fee (flat)*
N/A Stock Trade Fee (per share)*
$9.95 Options Base Fee*
$1.50 Options Per Contract Fee*
N/A Options Exercise Fee
N/A Options Assignment Fee
$15.00 Mutual Fund Trade Fee
$27.00 Broker Assisted Trades Fee
$3,500.00 Minimum Deposit

Margin Rates

0.00% Under $24,999.99
0.00% $25,000.00 to 49,999.99
0.00% $50,000.00 to $99,999.99
0.00% $100,000.00 to $249,999.99
0.00% $250,000.00 to $499,999.99
0.00% $500,000.00 to $999,999.99
0.00% Above $1,000,000.00

Miscellaneous Fees

N/A Bond Trade Fee
N/A Treasury Trade Fee
$0.00 CD Trade Fee
N/A IVR Trade Fee
N/A IRA Annual Fee
N/A IRA Closure FEe
N/A Forced Margin Sellout Fee
N/A Returned ACH Fee
N/A Returned Wire Fee
N/A Stock Certificate Processing Fee
N/A Stock Certificate Delivery Fee
N/A Paper Statement Fee
N/A Paper Confirmation Fee
N/A Domestic Wire Fee
N/A International Wire Fee

Broker Ratings

Overall
Commissions & Fees
Ease of Use
Research
Platforms & Tools
Customer Service
Mobile Trading
Offering of Investments
Education

Broker Awards

Offering of Investments

Yes Stock Trading
Yes Options Trading
Yes Mutual Funds
Yes Forex Trading
Yes Futures Trading
OTCBB / Pink Sheets
DRIPs
After Hours Trading
N/A Commission Free ETFs
N/A Retail Locations
N/A Mutual Funds (Load)
N/A Mutual Funds (No Load)
Mutual Funds (NTF)
Mutual Funds (Total)
0 Complex Options Max Legs
0 Clearing Firm
Yes No Maintenance Fees
No Minimum Deposit
Yes No Fee IRAs
Broker Assisted Trades

Research

Mutual Funds Research
Pink Sheets / OTCBB Research
Fixed Income Research
Global Market Overview
Equity Research - SEC Filings
ETF Research - Top 10 Holdings
ETF Research - 3rd Party Reports
Fund Research - Strategy Overview
Fund Research - 3rd Party Reports
Fund Research - Fees Breakdown
Fund Research - 3rd Party Ratings
Screener - Stocks
Screener - ETFs
Screener - Funds
Screener - Options
Screener - Bonds

Banking

Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
Yes Retail Locations
No Fee Banking
Mobile Check Deposit
ATM Fee Reimbursement

Customer Service

Yes Phone Support
Yes Email Support
Live Chat (prospect clients)
Live Chat (current clients)
Yes 24/7 Support

Recommended For

Best in Class Commissions & Fees
Best in Class Platforms & Tools
Best in Class Research
Best in Class Customer Service
Best in Class Ease of Use
Best in Class Investor Education
Best in Class Mobile Trading
Best in Class Active Trading
Best in Class Options Trading
Best in Class New Investors

Mobile Trading

Yes iPhone App
Yes iPad App
Yes Android App
Yes Mobile Site

Platforms & Tools

Yes Virtual Trading
Web Platform
Desktop Platform
Mac Platform
Platform Backtesting
Trade Hot Keys
Streaming Time & Sales
Level 2 Quotes
Streaming CNBC TV
Sitewide Real-time Quotes
Watchlist Streaming Real-time Quotes
Options - Chains Basic View
Options - Chains Spreads View
Options - Greeks Analysis

Active Trading

Internalizes Trades
Receives Payment for Order Flow
Direct Routing (Stocks)
Client Liquidity Rebates
# of Easy to Borrow Stocks

Education

Investor Dictionary
Live Seminars
Yes Investor Community

Broker vs Broker