Thinkorswim by TD Ameritrade brokerage firm review. Fees & commissions, advantages & disadvantages, minimum requirements & promotion offers for opening a new online account with the online discount stock broker.

4.5-star brokerage firm rating

  • Stocks & ETFs: $6.95
  • Options: $6.95 + $0.75 per contract
  • No-Load Mutual Funds: $49.99


Thinkorswim by TD Ameritrade Review

Thinkorswim has been rated by Barron"s Magazine as the best online broker. After that it was acquired by TD Ameritrade, and its customers now enjoy all the benefits offered by this huge brokerage company. Thinkorswim, Trade Architect and website-based trading represent three trading platforms of TD Ameritrade.


Thinkorswim Fees & Commissions Review

Thinkorswim's commissions are $6.95 flat-rate per trade for stocks and exchange traded funds, and $49 for mutual funds. There is no minimum deposit required to open an account with Thinkorswim. However, to trade options a minimum balance of $2,000 is required.

Stocks and ETFs $6.95
Stocks and ETFs broker assisted $49.99
Stocks and ETFs Interactive Voice Response (IVR) Telephone System $34.99
Options $6.95 + $0.75 per contract
No-load mutual funds $49.99
Treasuries at auction $25 flat fee
All other bonds and CMOs, CDs on a net yield basis
Futures $3.50 per contract (inclusive of exchange fees)
Forex Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.

Thinkorswim Trading And Research Tools Review

Thinkorswim platform is the best we have used, but it's not for the beginner. Take a look at the list of the best brokerages for beginners.

Although Thinkorswim is intuitive, it takes an investor with a comprehensive knowledge of technical analysis and who has watched the demos to fully utilize its functions. It is loaded with tools and features that makes trading for a professional a breeze.

Thinkorswim Review

Sometimes they have problems with their TOS Charts but since they have two charting programs (TOS Charts and Prophet Charts) investors can easily switch to the other.

In addition to Charts there are six other main tabs. Each tab is jammed with information such as currency trading, future trading, heat maps, stock scanners and options screeners. The Analysis tab allow investor to view risk graphs for any trade setup and its future planned adjustments to the current trades. In the Tool tab, there is a function called my trade which can be used to compare and share the investor’s ideas with other trades. News search function to catch the latest news for a particular equity are also helpful when making trading decisions.

Thinkorswim Review

Several external computer monitors are also needed so all information can be displayed clearly. With three hundred plus technical studies and a combination of these studies for each chart, one can be overwhelmed.

TOS customers have access to free stock and ETF reports from, Credit Suisse, S&P Capital IQ, Morningstar, and others.

"thinkDesktop" is a Desktop software that allows you to easily analyze the market in real-time, do basic and advanced option trades easily, such as iron condors (with three mouse clicks or less) and analyze multiple stocks all at one time. It feels like being Big Brother, with all these multiple chart windows all on the screen.

If you like to scan the market for the appropriate systems for several strategies, like straddles or covered calls, you can employ the Scan feature and the Marketwatch facility for you to gain access to vital information, like upcoming earning reports and others. Trades are simple to perform: you will be guided on the trading steps and strategies that you can employ. In addition, you can arrange them in an Order Book and analyze them prior to sending them to the market. Thinkorswim’s "Confirm and Send" screen even provides you with an immediate snapshot about the potential profits, brokerage fees as well as risks in your projected trade. Everything is detailed and made easy by this software.

Thinkorswim  review

The company offers mobile Apps for iPhone, iPad, and Android. The interface of the Mobile App is easy to navigate. Users can deposit a check, transfer funds, contact customer service, or place a trade.

Thinkorswim Customer Service Review

Thinkorswim brokerage is one of the best out there in terms of features and quality of services offered. The brokerage firm is known for its great customer support. They reply within minutes by email and faster by chat. Phone service is staffed 24/7.

The company has more than 100 brick-and-mortar branches located across the United States for old school investors who want more personal investment assistance.

Overall Thinkorswim can take any trader as far as their imagination but offers too much information for casual investors.


Thinkorswim Advantages

  • No inactivity or maintenance fees
  • No-fee IRA accounts
  • Wide range of investing options
  • Objective, outstanding third-party research from trusted sources
  • Sophisticated trading platforms, Thinkorswim and Trade Architect, free of charge
  • Over 13,000 mutual funds
  • Over 296 commission-free ETFs from 13 providers
  • Free Dividend Reinvestment Plans (DRIPs)
  • Virtual trading
  • Great customer service
  • Over 100 local branches

Thinkorswim has a wide offering, including futures, forex, options, cash management, and retirement products. Other brokerage firms, such as Optionshouse and Firstrade, don’t have the same level of offerings. Its variety of research and trading tools gives customers plenty of reason to choose TD Ameritrade over other firms.

While other brokerages, such as Fidelity, offer a premium platform only to active traders, Thinkorswim platform is free of charge.


Thinkorswim Disadvantages

  • High mutual fund commissions

Thinkorswim’s standard commission is $6.95 on stocks and $6.95 + $0.75 per sontract on options. Furthermore, other charges, such as transaction fees for some mutual funds are higher than at other brokerages ($49.99 versus $9.95 to buy and to sell at Ally Invest).

Thinkorswim offers futures and forex, trading of these products is only available on the thinkorswim platform, and not available on Trade Architect, another great platform offered by TD Ameritrade.

Thinkorswim offers a range of products on a user-friendly web site that will appeal to many investors, as long as they learn to avoid a few steep charges. Buy-and-hold fund investors would do especially well here.


Thinkorswim Promotional Offer

Get 60 days of free trading and up to $600 bonus with the current promotion offer:

Trade free for 60 days + Get up to $600.

Open Thinkorswim Account



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