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Thinkorswim customer reviews, complaints, and rating. TOS trading platform pros and cons. Is Thinkorswim good and safe?

Thinkorswim Review

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Thinkorswim Customer Reviews

by Kathy, 2/2/2019

Pros: Paper Trading Good overvall

Cons: Too Complicated

I don't want to spend years learning a platform. This one is not user friendly and way too complicated. Can someone send me a link to something easier to use or learn? I know think or swim has some advantages for the more experienced stock trader, But I am not there yet!

by Frederick, 12/27/2018

Pros: Good customer service. Multiple platforms.

Cons: Reduced tools for customers. Clunky software. Customer service requires confidential information prior to answering tech questions.

They used to have a vast educational system for customers with lots of live video broadcasts including a daily morning premarket analysis, chat/discussion and warm up. It was part of Trade Architect. ShadowTrader is good but it is not the same. They do have lots of videos to watch but many have no title in the archive. They also had a separate platform better than TOS. (Trade Architect.) Tos is good to a point and has lots of good charting assets. Order setup is bulky. You can only have ONE order sitting in the order creation window so you can't watch several different option orders and decide which to trigger as the market moves. It takes way too long to set one up unless you want to be filled with their selection of price data. Modifying the bid price by inserting your bid rather than clicking the preset increment box takes too long and results in errors. Proofing the final order is crucial every time. Limit option fills are terrible. They either don't get filled or get filled right away with an instantaneous loss at fill, usually $7-$15 per contract. The mobile app is out of sync with the TOS data and the website data. Activer Trader in TOS is interesting but needs rewriting. It has lots of blank boxes with nothing in them. They should not be there OR have the book orders in them like other brokers do, and less blank columns.

by Trader, 5/11/2018

Pros: Best Trading platform on the market!

Cons: none

Hundreds of thousands of people are using TOS and there are only few negative reviews. That says a lot!

Don't listen to haters. Try it out. It's FREE!

by Chaz, 4/25/2018

Pros: Great tools

Cons: Order fills are often missed on "Limit"

I like the variety of tools that are available on ToS. ActiveTrader is great to enter orders with targets and stops simultaneously.

Level II quotes are provided along with Full Book for NASDAQ and EDGX. Unfortunately, this "full book" feature never works in paper trading. After contacting them on several occasions, it got fixed temporarily and then goes down again days later.

Evidently day traders testing new strategies are not a big priority to them

by Will, 4/2/2018

Pros: Great recursive and testing software with ToS using paper money.

Cons: Absolutely skims from bad market order fills. Limit fills are always exactly at the limit.

ToS trading software, while supposedly l33t, is absolute murder on the eyes and a complete hot mess to navigate. Nothing is intuitive and needed info is often strung across several tabs you need to click through.

What is good is the paper trading (use the regular account and switch to "OnDemand", the paper trade login is garbage). This lets you test different equity and options strategies easily against historically similar times as you approach the next trade day. I spent $300 on a different tool and it wasn't even close to the complexity you're allowed to use with Think or Swim.

TD Ameritrade does, however, skim from your trades with wildly bad market fills or just-at-the-limit fills for limit orders. If you are a scalper, you will do remarkably worse using TD Ameritrade than pretty much any other software. Use Etrade for options for best limit pricing (where they let you keep the difference in lower sale price, for example). Use RH or Schwab for fast equity trading when it counts.

TD Ameritrade are thieves and will steal from you pennies (or even dollars) at a time with each order. The class action lawsuit was not enough money to get them to stop the practice, and this is a major source of their income. I discovered this when an order of mine filled at a full $1 difference when the L2 was showing a very tight ~0.02 spread and the fill was nowhere close to where the stock (FB) had ever traded that day. This caused a break in my option strategy and $1000 in escalating losses when it should have been capped at $60. Their explanation was that the trade was done "on a separate book" and I wasn't allowed to see any audit or record of this separate mystery book.

My scalping skills also plummeted after making the switch to TD from Schwab - with my typical trades stopped out or close the second I start them. Magically I was making regular money again when i switched back to Schwab.

by Steven, 3/28/2018

Pros: Hard to remember the many good points about it with the problems I encountered however in all fairness its possible to be something good

Cons: The software has problems for example 4GB of RAM however with 8GB of RAM there is still problems and with a 250GB Solid State Drive the software keeps running out of memory and freeezes

Thinkorswim is exactly what you see. In all fairness everyone there will see it their own way. It may get worse or get better. However the fact remains for example if I could show you in pictures what I saw you would wonder why I stayed there as long as I did. I could go into extensive detail however as much I could or like to. Therefore their dry wit was something to see too. When there were problems watch their hospitality and service come and go. When you pick support chat watch the strange reaction and comments then you will see why. Your first time in one of their chat rooms may be your last time therefore if you chat about something they dislike your banned forever for example they socialize about the weather their weight loss and problems however chat about penny stocks it writes censored write about a certain stock censored or stock related. Very limited in what they accepts however that maybe good or bad. However watch what they write about and they are there almost always and you would wonder why they wrote what they did therefore their dry wit or hospitality.

by tk, 2/28/2018

Pros: Broker is TD Ameritrade which is fine

Cons: Trades a little on the high side.

Thinkorswim is way to complicated to use and freezes up when you click news listings.

by Graft, 7/21/2017

Pros: Chart reading software

Cons: Mobile deposits take literally too long

The mobile deposit system take WAAAAAAAYYYYYYYYYY too long literally 5 or more business days when other brokers do same day very frustrating especially when you beed that money for a investment smh tbtf bank suck

by Chuck, 10/23/2016

Pros:

Cons:

I LOVE ToS! I have been using the software for years, it is definitely the most intense platform I have used. It took me a while to learn the massive amount of features within the software, but come on, the paper account is FREE, no reason not to try it out. Once I got over the learning curve, It was much easier to navigate around and start putting trades on.

I found Sheridan Options Mentoring and started some of their education. Their community is very heavy with ToS users and they have gone WAY past me in their customizations of their platforms. I had no idea just how much customization you can perform in TOS.

I also got access the "Special Sheridan Rate" after joining their education. I am now only paying $1 per contract with no ticket charges! How awesome is that?!?!?

Go check out ToS not TD, ToS. You can download and install the desktop paper trader in 10 minutes, you will dig it!

by SpiritualTrader, 10/23/2016

Pros:

Cons:

Absolutely fantastic! I couldn’t thank Thinkorswim enough. I have some experiance and having their platform with all of its features is totally amazing and has really made my life easier. Now, I can follow trades and get updates when needed. Definitely fits my budget as I learn to trade new thing. My favorite charting and execution software platform so far.

by trs, 9/13/2016

Pros: The Pros are really cons

Cons: Way to much information

I use to have TD's Strategy Desk. Just a simple and intuitive trading platform for the medium to high level stock and option trader. When TOS was purchased several years ago TD buried SD and let it die through attrition finally closing it 8/16. Their Trade Architect is a joke even though they tried to improve it. Kind of a cartoon you would use to teach high school kids about trading

So now I am stuck with a monster platform for stocks plus futures and FX. I don't trade the latter two but if I did I would not want them all globed together on one platform in the guise of "convenience".I think the charts do not measure up but there has been an attempt to pile on a lot of bells and whistles to compensate for the inadequacy. They seem to think that more is better instead of streamlining the trading process. When I call support they admit they think it's a lot more than they personally need and many times I have to call back with the same question because the first rep really didn't have the correct answer I was looking for.

If you like an unnecessarily complicated and cumbersome platform then this would be the pro for you. As stated above they are more cons than pros IMO

by elliots, 7/7/2015

Pros: great chat rooms, educational offerings, charting tools, scanner

Cons: commissions are on high end

This is the place to go learn stuff. It is not the place to get low commissions. But overall I am a satisfied customer who believes that I paid for the education in higher commissions and got my money's worth.

by Westerntrader, 4/11/2015

Pros: Best Charting

Cons:

They have the best charting and option tools, but pricing is not the best.

by Bgdmanml, 4/8/2015

Pros:

Cons:

Was first introduced to ThinkorSwim through Investools a few years ago. At the time I think ThinkorSwim was a paid service. After a horrible experience with Investools I stepped away from the market and didn't think it was for me. After I found a much better education program I'm back at it and doing well. ThinkorSwim is LOADED with features! Once you get the hang of it you'll love it's ease of navigation and many useful features. Even if using other brokers for cheaper commissions I'd highly recommend ThinkorSwim for charting.

Also, ThinkorSwim is part of TDAmeritrade who has AMAZING customer service!!! I'd rate customer service ten checks if possible. Seriously the best customer service of any company I've ever dealt with, stock market related or not. I actually enjoy phone calls with TD Ameritrade. Whenever I've had an issue they were very prompt at resolving it.

Execution I gave 3 stars because I have had issues with executions but that may be user error. As I open with more brokers the larger I grow my funds I will most likely still use ThinkorSwim for my charting. I see it being hard to beat, especially once you're use to it.

by MedCoordinator, 9/22/2014

Pros:

Cons:

A good platform for long term investors with IRA accounts and option traders. If they cut the prices on commissions just a bit, it might be perfect. Their charts are great to use and customizable for technical traders. The option tools are pretty nice too. They even offer nice squawk feeds in their chat rooms for free. This is not a direct access platform for day traders. This is more like a boutique shop with all of the bells and whistles.

by Dannymandel, 8/12/2014

Pros:

Cons:

Probably the best free trading software around. Very well thought out, intuitive design. The only problem I've ever encountered with it is that sometimes my settings don't save.

by Tom, 2/17/2014

Pros: Auto Trader Accepts US clients

Cons: Long forms to open an account Low leverage

I like that ThinkOrSwim has an autotrader. That’s really their best feature in my opinion. They take a long time to get an account open but once it’s funded trading’s not hard.



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Leading Review Websites About Thinkorswim Trading Platform


"thinkorswim is a fun trading platform to use, with great mobile options. The fee schedule can get a bit confusing. But once you figure it out, you can choose the option that is best for you. We like the variety of mobile apps and that there is live chat support for accounts, trading platform and technical support. We like thinkorswim’s casual approach to trading. This trading platform offers serious tools and good information in a non-stuffy manner."

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Thinkorswim reviewed by former and current clients. Thinkorswim customer reviews: 17. Rating: 3.