As a leading online trading platform, Thinkorswim has gained a loyal following over the years. In this review, we’ll take a deep dive into the features and benefits of Thinkorswim, and explore why it has become such a popular choice among traders.
Overview of Thinkorswim
Thinkorswim is a comprehensive online trading platform that allows users to trade stocks, options, futures, and forex. The platform is owned by TD Ameritrade, and it’s available to all TD Ameritrade clients. The platform is well-known for its powerful charting and analysis tools, and it’s widely regarded as one of the best trading platforms on the market.
Features and Benefits of Thinkorswim
- Powerful Charting and Analysis Tools
Thinkorswim offers a wide range of charting and analysis tools that allow users to analyze and trade the markets with precision. The platform includes more than 400 technical indicators, advanced drawing tools, and customizable chart settings. Additionally, Thinkorswim offers a range of proprietary tools such as the “Market Profile” and “Trendspider” tools, which provide traders with unique insights into market trends and patterns.
- Customizable Trading Layouts
Thinkorswim allows users to create customizable trading layouts that are tailored to their individual trading preferences. Users can arrange their charts, watchlists, and order entry windows in a way that best suits their needs. Additionally, Thinkorswim offers a range of pre-built trading layouts that cater to specific trading styles, such as “Day Trading” and “Swing Trading.”
- Advanced Order Types
Thinkorswim offers a range of advanced order types that allow users to execute trades with precision. These include “One Cancels Other” orders, “Trailing Stop” orders, and “Bracket” orders. Additionally, Thinkorswim offers “On Demand” trading, which allows users to simulate trades using historical market data.
- Educational Resources
Thinkorswim provides users with a range of educational resources to help them improve their trading skills. These include video tutorials, webinars, and articles that cover a wide range of trading topics. Additionally, Thinkorswim offers a virtual trading simulator that allows users to practice their trading skills in a risk-free environment.
- Community Support
Thinkorswim has a vibrant community of traders who share their trading ideas and strategies on the platform. Users can join groups and forums to connect with other traders and learn from their experiences. Additionally, Thinkorswim offers a range of social trading features, such as “Follow Trader,” which allows users to follow the trades of other successful traders.
Final Thoughts
Overall, Thinkorswim is a powerful trading platform that offers a wide range of features and benefits for traders of all levels. With its powerful charting and analysis tools, customizable trading layouts, and advanced order types, Thinkorswim has become a popular choice among traders who are looking for a comprehensive trading platform. Additionally, Thinkorswim’s educational resources and community support make it an ideal choice for traders who are looking to improve their skills and connect with other traders.
If you’re interested in learning more about Thinkorswim or want to open an account, you can visit the TD Ameritrade website.