Thinkorswim rating

Thinkorswim Review

Thinkorswim Commissions, Fees, and Minimum Deposit

Stocks and ETFs $0
Stocks and ETFs broker assisted $25
No-load mutual funds $49.99
Treasuries at auction $25
All other bonds and CMOs, CDs on a net yield basis
Futures $2.25 per contract (plus exchange & regulatory 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.

Investments stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
Thinkorswim minimum deposit to open account $0 for cash account, $2,000 for margin account
FeesThinkorswim fees

We start our 2022 Thinkorswim review with broker commissions on most popular investment products. Thinkorswim and its parent company, TD Ameritrade, have the following rates: $0 flat on all stocks and ETFs for unlimited shares, $0.65 on options contracts, $49.99 on mutual fund transactions (with close to 4,200 no load and transaction fee funds available), and $2.25 rate on futures contracts.

Minimum deposit to open TD Ameritrade account is $0 for both IRA and taxable accounts. Margin accounts have $2,000 minimum initial deposit. There are no minimum account balance requirements at Thinkorswim.

Thinkorswim New Account Setup

Thinkorswim is now part of TD Ameritrade, so to access Thinkorswim platform all you have to do is to open a free account at TD Ameritrade. The company's new account opening process is fast - it takes less than 15 minutes to finish the application. Users can simply click on their promotion link - $0 commissions + transfer fee reimbursement. - press "Open New Account" button, and follow instructions.

After it's done, a new customer can login and explore the website right away.

There is no micro-deposit verification, and therefore setting up ACH with a bank and funding the brokerage account is very quick.

Thinkorswim Website/Trading Platform/Tools

Advanced Trading Platform

Thinkorswim offers one of the best trading platforms on the market right now! It's well designed, intuitive and fully customizable. Entering and executing orders is fast. It has many advanced features which only experienced traders will truly appreciate. Charts are second to none.

Everything a trader might want is included for free.

The company provides live streaming CNBC news, a scan tool for finding stocks that meet certain criteria, and a watch page that keeps track of things like dividend dates and stock splits. There are also live broadcasts from the S&P 500 pit as well as Shadow Trader.

Thinkorswim Review: Trading Platform

One of the finest features of Thinkorswim is Analysis tab. It allows users to instantly view an active risk graph that will exactly show the most probable look of any trade setup. In addition to this, it will also instantly show the latest risk graph for any planned adjustments to the current trades a user might want to make. These are usually the kind of things found only in proprietary software, which is always very expensive.

Thinkorswim also offers ThinkBack feature that permits traders to backtest strategies and access historical options prices. Users may also perform a chance analysis for any existing or potential trade. This way they will be able to identify if it’s worth trading or not and therefore lowering their risk factor.

Thinkorswim Review: Charting

Traders that like to scan the market for several strategies, such as straddles or covered calls, can employ the trading platform's Scan feature. Another popular tab on the platform - Marketwatch - gives access to vital information like upcoming earning reports, stock splits and others.

When entering a trade, a user will be guided on the trading steps and strategies that can be employed. In addition, a user can arrange orders in an Order Book and analyze them prior to sending them to the market. Thinkorswim’s Confirm and Send screen even provides an immediate snapshot about the potential profits, brokerage fees as well as risks in the projected trade. Everything is detailed and made easy to understand.

Customers also have access to Thinkorswim's virtual trading account that provides them with "paper" (virtual) $100K that can be used to test and refine their strategies.

Mobile Trading

The company also provides mobile applications for iPhone, iPad, Windows, Android and Blackberry users that are rated at a very high, 4.0 to 4.5-star score at the app stores. The applications were redesigned and now offer advanced orders, powerful charts and additional options statistics. Read detailed Thinkorswim app review.

Thinkorswim Review: Mobil App

Thinkorswim Review: Pros

  • $0 commissions on stocks and ETFs
  • Best direct access trading platform on the market
  • No surcharges on listed stocks under $1, large orders, or after-hours trading
  • Trading with one of the largest and well-known brokerage houses in the country
  • Users can practice trading without risking real money using PaperMoney virtual trading account
  • Easy access to myTRADE trader community
  • No-fee IRA accounts
  • No account maintenance or inactivity fees
  • Free streaming quotes, including Level II
  • Rich selection of independent, third-party research from 13 firms (Standard & Poor's, Morningstar, Jaywalk, TheStreet, and others)

Thinkorswim Review: Cons

  • High margin rates

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Thanks to the best platform and a number of useful tools, Thinkorswim is an excellent choice for active stock and options traders as well as forex and futures trading.

Investors who like to research products get access to arguably the best independent research amenities and charting tools on the market. Beginner traders as well as anyone who wants to try new trading strategies and products without taking risk will love TOS practice trading account.


Thinkorswim Review Summary

Thinkorswim charges hard-to-beat commissions on stocks and ETFs: $0 per trade. There are no commission surcharges at the company - the same rate applies to all trades, including penny stocks, extended hours orders, pink sheet stocks and large orders (whereas most online brokers levy one or more of these additional charges).

The firm was bought by TD Ameritrade, and is now a division of one of the top brokerage houses in the country. All new Thinkorswim and TD Ameritrade customers have the same account with identical features, tools, and services. The Thinkorswim platform can be downloaded by opening an account at TD Ameritrade, logging in, and going to "Trading Tools -> thinkorswim" in the main menu. Unlike many other online brokers, there are no monthly fees or account balance requirements to use this sophisticated software.

TOS is known for great customer service and its versatile, powerful, customizable trading platform. The firm offers an impressive range of investments for clients to choose from, including access to forex and futures trading. The ability to trade all types of option strategies along with futures and forex on the same platform is simply incredible.

Customers also get access to an impressive range of third-party investment research amenities, including Standard & Poor's, Morningstar, Jaywalk and TheStreet.

Barron’s magazine rated Thinkorswim's parent company - TD Ameritrade - #1 for Beginner Investors and #1 for Long Term Investing, and gave it top scores in the Mobile Trading, Range of Offerings, Research Amenities, Customer Service and Education categories.

In our own 2022 Thinkorswim review, the firm gets 4.5 stars. Investors should keep in mind that with TOS there are basically no additional fees to worry about. The firm offers lots of free services for which other companies either charge money or don't provide at all.

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About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.