thinkorswim - New Account Offer
Thinkorswim Review
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Likes
One of the best trade platforms on the market with a huge variety of unique tools; dependable customer service; despite initial concerns, being acquired by TD Ameritrade has only left the broker with more room for growth.
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Dislikes
Commissions still more pricey than competitors
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Bottom Line
The buyout of thinkorswim by TD Ameritrade has given the broker unlimited resources and leaves us eager to see what new products and innovations are on the way.
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Ideal Client
All investors
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2013 Review Star Ratings
N/A - Not Applicable
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.
Compare thinkorswim to Key Competitors
Trade Commissions Breakdown
| $9.95 | Flat-Fee Trade Plan* |
|---|---|
| N/A | Per-Share Trade Plan |
| $9.95 | Options Base Trade Fee* |
| $1.50 | Options Contract* |
| N/A | Options Exercise Fee |
| N/A | Options Assignment Fee |
| $15.00 | Mutual Fund Trade Fee |
| $27.00 | Broker Assisted Trade Fee |
| $3,500.00 | Minimum Deposit |
Miscellaneous Fees
| N/A | Bond Trade Fee |
|---|---|
| N/A | Treasury Trade Fee |
| N/A | Certificate of Deposit (CD) Trade Fee |
| N/A | Interactive Voice Response (IVR) Phone 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 Transfer 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 | Outgoing Domestic Wire Transfer Fee |
| N/A | Outgoing International Wire Transfer Fee |
Commission Notes
thinkorswim offers investors several different commission plans which are all broken down in the various sections below:Stock Trades - Two plans are available to clients. The first offers a flat rate of $.015 per share with a $5.00 minimum and is designed for more active investors and institutional traders. The pricing plan uses a "best" execution routing algorithm to obtain the best available price at that given moment. The rate of $.015 is the same regardless of trade type, time of trade, trade size, etc. The second plan offers up to 5,000 shares per trade for a flat commission of $9.95. For orders over 5000 shares, any order types other than market or limit, or extended hours orders the commission for the entire order is the per share rate of $.015 per share with a $5.00 minimum.
Also note that for OTCBB (pink sheet) stocks or any stocks priced under $2.00 the rate is $9.99 per trade regardless of size or order type.
Options Trades - There are three different rate plans offered to clients:
- Designed for investors trading less than 5 contracts per order - The lesser of $2.95 per contract or $9.95 plus $1.50 per contract.
- Designed for investors trading atleast 5 contracts per order - $1.25 per contract ($12.95 minimum)
- Designed for investors trading atleast 16 contract per order - $.95 per contract ($19.95 minimum)
Other Investment Types - thinkorswim also offers bonds, t-bills, futures, and forex trading. For commission details on these investment types please visit the broker website.
thinkorswim was reviewed by Blain Reinkensmeyer on 2013-02-19 with an overall rating of 4.5 Stars.
2012 Awards
2012 Review Results - thinkorswim by TD Ameritrade was rated #1 Overall with 5-stars and received 2012 Best Overall Trading Platform. Read the 2012 Broker Review.
Misc. Account Information
| Clearing Firm | |
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| N/A | No. of Commission-Free ETFs |
| N/A | No. of Retail Locations |
| N/A | No. of Mutual Funds (w/ Load) |
| N/A | No. of Mutual Funds (No Load) |
| N/A | No. of 3rd Party Research Report Providers |
| N/A | Max. No. of Legs (Complex Options) |
Account Features
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Virtual Trading |
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| No Minimum Deposit | |
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No Maintenance Fees |
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No-Fee IRAs |
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Online Trader Community |
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Investment Education |
| Live Seminars |
Mobile Trading
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iPhone App |
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iPad App |
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BlackBerry App |
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Android App |
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Mobile Site |
Customer Service
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Phone Support |
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Email Support |
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Live Chat Support |
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Retail Locations |
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24/7 Customer Support |
Trade Types
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Stock Trading |
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Options Trading |
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Mutual Funds |
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FOREX Trading |
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Futures Trading |
Recommended For
| Discounted Trading | |
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| Long Term Trading | |
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Options Trading |
| Active Trading | |
| International Trading |
Banking Features
| Checking Accounts | |
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| Savings Accounts | |
| Credit Card Accounts | |
| Debit Card Accounts | |
| Mortgage Loans |
Trading Platform Features
| Web Browser Platform | |
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| Windows Desktop Platform | |
| Mac Desktop Platform | |
| Platform Backtesting |
Active Trading Features
| Direct routing offered to clients | |
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| Broker receives payments for order flow | |
| Broker internalizes trades | |
| Clients receive rebates for adding liquidity |
Trade Platform
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