TD Ameritrade App Review
If you have ever wanted to take advantage of all the benefits of mobile trading, you likely already know how important a trading app can be. The ability to manage your positions while away from your trading desk, place trades virtually anywhere, or follow hot stocks on your watchlist without being tied to a PC, is a powerful addition to your investment experience.
TD Ameritrade account holders have access to a feature-rich trading app capable of delivering a solid trading experience for investors on the go. TD Ameritrade’s thinkorswim mobile is available for devices of all kinds, including Android, iPhone, and iPad.
Is the thinkorswim app worthy of your time? Let’s review it and find out.
Thinkorswim (TOS) App Overview
The TD Ameritrade mobile app is available on many different device types, and the trading experience is nearly the same on all of them. Of course, there are some functional differences where screen size and resolution come into play, but you’ll have access to all the same tools, no matter which device you are on.
If we were to distinguish between TOS app capabilities across device types, we would say that the processing speed of each device is the primary driver. As such, we can assume that newer, more powerful devices will be snappier.
That said, I actively trade on the Android TOS app with a Samsung S9 and never experience any performance issues. Although the device is a bit old now, the thinkorswim app seems to be tuned to work well on devices of all kinds.
Thinkorswim App on iPhone
The TOS mobile app for iPhone is fast and benefits from the powerful processors used in the devices. Driving charts with many indicators and switching between screens and menu items is a breeze. The UI for iPhones is also very ‘clean,’ and navigation is intuitive.
Get Thinkorswim For Free
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Thinkorswim App on Android
The thinkorswim Android app is as powerful as the iPhone app and has the same features. You can log into the app with biometrics, and switching between the paper trading and live accounts can be done before and after logging in.
For comparison’s sake, we can say that the app’s iPhone version looks a little nicer. It seems that there have been more visual enhancements implemented for iOS users.
Thinkorswim App on iPad
iPad users get the same great features as iPhone users, but there are some added benefits to using an iPad.
For one thing, the processor (currently M1) is more than enough to handle anything the thinkorswim app can throw at it. Whether using an iPad mini, an iPad Air, or an iPad Pro, you’ll have an easy time running the TOS app.
Taking advantage of peripheral devices like keyboards and digital pens also adds unique functionality to the app.
Thinkorswim App on Tablets
Tablets powered by Android are not as cut and dry when it comes to the user experience.
Depending on the tablet, you might have a better or worse experience than using an up-to-date smartphone. There is more variation in the Android tablet world, and they are certainly not all created equally.
Assuming that you are using a newer tablet with a lot of processing power and a screen with a dense pixel ratio, you’ll get the same benefits as you would on an iPad.
Thinkorswim App on Apple Watch
The thinkorswim app is also available for Apple Watch. Although somewhat limited in what you can do with it, the app makes it easy to track the market’s state, your watchlists, and any positions you have open.
The newer versions of the Apple Watch are especially useful due to their increased screen size.
An added benefit of using the Apple Watch while trading is the ability to keep tabs on your physical state while trading. Heartrate picking up? Consider managing your position sizing.
TOS App Features
The first thing you will notice about the thinkorswim mobile app is that all the features are easily accessible. App navigation is mostly intuitive, and investors of all skill levels should be able to use it well.
The app’s capabilities are available from the feature menu, the chart itself, or the trade entry screens.
Whether you are using TD Ameritrade’s thinkorswim mobile app on iOS for iPhone, iOS for iPad, Android for smartphones, or Android for tablets, here are some of the most popular features you can look forward to using.
- Paper trading
- Support/chat
- News Feed
- Advanced options position manager
- Options chain customization
- Investment vehicles
- Excellent charting and tools
- Fast trade execution
- Trade/Position analyzer
- Advanced order entry
- Watchlists
- Futures & forex trading
Get Thinkorswim For Free
Open TD Ameritrade Account
Thinkorswim App Cost
The TOS mobile app is always free to use. There are several helpful services included with the free app as well.
You will never pay any commissions on stocks and ETFs using the app. Market data is free and not delayed. Many other brokers provide delayed data for users that don’t meet specific requirements. At TD Ameritrade, that is certainly not the case.
Trading on the TD Ameritrade (thinkorswim) app is not entirely free. However, any costs you run into will not be associated with the application. Commission fees for options contracts, OTC-listed stocks, and futures are just a few examples of fees that you will still need to pay.
For a complete list of TD Ameritrade fees and commissions, click here.
Thinkorswim App Pros
- Watchlists are easily updated and managed
- App and thinkorswim platform sync well
- Help via live chat available
- Great charting experience with multiple timeframes, modes, and indicators
- Tick charts available for intraday traders
- Advanced order entry and custom options strategy tools
- With a brokerage account with TD Ameritrade, you get access to live market data (including futures data) at no additional cost.
Thinkorswim App Cons
- You can’t trade fractional shares on the thinkorswim app
- Older devices or devices with lower memory can freeze
- Issues with trailing stops on mobile have been reported, but we haven’t experienced any problems with them.
- No stock screener on the app
- No mutual funds, bonds, or CDs on the app
Thinkorswim App Review Summary
As you can see, the thinkorswim mobile app is quite capable. Whether you are trying to initiate new trades on the go, use your mobile device as a secondary trade management tool, or want to keep track of your investment activity while out and about, the TOS mobile app makes things pretty easy.
It is also helpful that the same great experience can be had on any device you are comfortable with. iOS and Android users can interact with the markets in just about every way TD Ameritrade offers, and that stays true across device types like smartphones and tablets.
If you are looking for a mobile app to use in the markets, the thinkorswim (TOS) mobile app gets a solid recommendation from us.
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Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.
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