Thinkorswim Rated 3/5

Thinkorswim Guide - Read our In Depth 2024 Thinkorswim Review

This detailed Thinkorswim review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex trading, CFD trading, Share Dealing.

Learn more about Thinkorswim.

Benefits of Trading with Thinkorswim

Thinkorswim Review 2024 Quick Summary
💰 Min Deposit 100
👱‍♂️ Used By 10,000 Thinkorswim users and traders
📆 Founded 2008
🌍 HQ United States
👮‍♂️ Regulation Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)
🚫 Excluded Countries Thinkorswim is not available in the following countries :

Open Thinkorswim's Website

Your capital is at risk

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is Thinkorswim?

Thinkorswim are a worldwide financial trading platform and broker. founded in 2008

Over 16 years later Thinkorswim now serves over 10,000 retail investors Forex trading, CFD trading, and Share Dealing trading.

Thinkorswim are a global broker. Thinkorswim have a head office in United States.

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this Thinkorswim review and assess how well the Thinkorswim platform functions in its role as an international multi asset trading platform for traders in 2024.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like Thinkorswim. Choosing or shortlisting a trading platform like Thinkorswim can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like Thinkorswim.

As a result, selecting the right trading platform like Thinkorswim requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like Thinkorswim available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like Thinkorswim requires thorough due diligence and careful consideration. Some Thinkorswim trading features can be complex when trading on mobile or using the Thinkorswim online trading platform. Beginners and inexperienced traders must take the time to learn how to use the Thinkorswim trading tools properly. In our review of Thinkorswim we explain the pros and cons. What Thinkorswim offer, countries Thinkorswim are available in. Who Thinkorswim are regulated by and more.

Thinkorswim Review Screenshot

When it comes to online trading with brokers like Thinkorswim, carefully review Thinkorswim as your broker can make or break your success. Choosing the right broker is essential to ensure your Thinkorswim investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your Thinkorswim review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of Thinkorswim. You must also ensure the Thinkorswim broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, Thinkorswim needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with Thinkorswim into easily digestible information in this Thinkorswim review. We want to ensure you have all the knowledge necessary to use the Thinkorswim trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with Thinkorswim are the key to successful trading, so we've provided this detailed Thinkorswim review. So, take a seat, grab a cup of coffee, and dive in to learn about Thinkorswim and how it can benefit you or if Thinkorswim is not for you.

Online investing with Thinkorswim can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with Thinkorswim, evaluating the Thinkorswim platform is important. Evaluation includes researching the Thinkorswim management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with Thinkorswim. That's why it's essential to understand the Thinkorswim company policies and practices before making any investment decisions. By doing your due diligence and understanding Thinkorswim platform, you can make informed investment choices that align with your financial goals. So take the time to research Thinkorswim thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this Thinkorswim review you need to determine if Thinkorswim is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to Thinkorswim, so you can make a more informed decision and compare other brokers against Thinkorswim.

If you want to look at some Thinkorswim alternatives that might better fit your needs, we list and compare some of the best Thinkorswim alternatives further down this Thinkorswim review.

Trading online with Thinkorswim requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the Thinkorswim trading tools and features. You must know what you are doing when trading with Thinkorswim. That's why we've compiled this detailed Thinkorswim review with some important information that will hopefully make you more informed when online trading with Thinkorswim.

Thinkorswim Review Table of Contents

Thinkorswim review
Thinkorswim is a Multi-Assets Trading Platform with over 224+ Assets

Learn more about Thinkorswim. Thinkorswim is a multi asset platform with 224+ tradable Assets. Assets available on Thinkorswim include Forex trading, CFD trading, Share Dealing.

Thinkorswim trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, CFD trading, Share Dealing are considered financial assets.

Features of Thinkorswim

Thinkorswim review
What you should know

Thinkorswim offer three ways to trade: Forex trading, CFD trading, Share Dealing. The assets and products available to you on the Thinkorswim trading platform depends on the region of the world, you are in and the Thinkorswim entity you have an account.

With Thinkorswim you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with Thinkorswim platform.

Thinkorswim are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Thinkorswim safe?

When considering Thinkorswim for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Thinkorswim, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2008, and in operation for 16 years Thinkorswim have a head office in United States.

Thinkorswim is regulated. This means Thinkorswim are supervised by and is checked for conduct by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) regulatory bodies.

Thinkorswim withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Thinkorswim are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Thinkorswim are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Thinkorswim and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Thinkorswim has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, Thinkorswim will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Thinkorswim, you can enjoy peace of mind and focus on your trading activities. If Thinkorswim violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with Thinkorswim?

All payments made to Thinkorswim by traders are securely held in a segregated bank account.

Thinkorswim uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

What are Tier 1 banks and why should Thinkorswim use them?

Thinkorswim partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Thinkorswim clients' funds.

Thinkorswim clients can have greater confidence in their financial security when working with a Tier 1 bank because Thinkorswim are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

What does it mean to have your funds in Thinkorswim deposited in a Tier 1 bank?

Depositing funds with Thinkorswim ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Thinkorswim were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that Thinkorswim is a secure and safe platform.

Please be aware that trading in financial assets with Thinkorswim carries a risk of loss. Thinkorswim trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, CFD trading, Share Dealing due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

Thinkorswim emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about Thinkorswim, let's closely examine its features.

To better understand the Thinkorswim trading platform, you can create two separate accounts - one with real money and the other a Thinkorswim demo account. A Thinkorswim demo account provides a risk-free environment for experimenting with the Thinkorswim platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Thinkorswim trading decisions.

Open a demo account Visit Thinkorswim

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Thinkorswim as a Company Compare Against Other Brokers

Broker thinkorswim IC Markets Roboforex eToro
Year Established 2008 2007 2009 2007
Head Office United States Australia Belize Cyprus, UK
Regulation Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000+ Thinkorswim users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit Thinkorswim Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 76% of retail investor accounts lose money when trading CFDs with this provider.

Thinkorswim review
Thinkorswim Pros and Cons

What we like about Thinkorswim

  • Used by over 10,000 Thinkorswim users and traders
  • Established in 2008
  • Regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)
  • Min. deposit from $100

What we don't like about Thinkorswim

Thinkorswim review
Thinkorswim Regulation and Licensing in more detail

Thinkorswim is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of Thinkorswim going into insolvency. Thinkorswim compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like Thinkorswim to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for Thinkorswim traders.

Thinkorswim is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like Thinkorswim you should be sure they're legitimate online agent.

Is Thinkorswim Global?

Yes, Thinkorswim is global as Thinkorswim is available in over 194 countries.

Thinkorswim is a global trading platform in the sense that it operates in 194 countries including nations in Africa, Asia, Oceania, and Europe. Major countries Thinkorswim covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. Thinkorswim has a total of more than 10,000 users.

Thinkorswim review
Thinkorswim Fees Explained

  • Thinkorswim withdrawal fees varies on payment method
  • Thinkorswim does charge a fee for inactive accounts.
  • Thinkorswim does charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from Thinkorswim are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

Thinkorswim Costs To Check

Modern brokers like Thinkorswim provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Thinkorswim may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Thinkorswim trading profitability.

How Thinkorswim Fees Compare Against Other Brokers

Broker thinkorswim IC Markets Roboforex eToro
Min Deposit 100 200 10 100
Withdrawal Fees varies No Yes Yes
Inactivity Fees No No Yes
Deposit Fees Varies No No
CFD Commission Fees Yes No Yes

Thinkorswim Minimum Deposit

Thinkorswim requires a minimum deposit of 100 GBP/USD/EUR when opening an Thinkorswim trading account.

A minimum deposit is the minimum amount of money required by Thinkorswim to open a new online brokerage account with them.

Don't be scared off by brokers like Thinkorswim charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like Thinkorswim, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

Thinkorswim Withdrawal Fees

The fees for withdrawing funds from your Thinkorswim account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your Thinkorswim withdrawal request is important.

Thinkorswim Withdrawal rules may vary across different brokers when it comes to transferring funds from your Thinkorswim or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Thinkorswim may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the Thinkorswim withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Thinkorswim. Researching and comparing Thinkorswim withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Thinkorswim funds frequently or dealing with large sums of money. Awareness of these Thinkorswim fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Thinkorswim funds.

For example, Thinkorswim allows you to withdraw your funds to Electronic Bank Deposit (ACH), Bank Wire transfer, Cheque or Check, Account Transfer from Another Firm, Physical Stock Certificates.

Thinkorswim Inactivity Fees

Thinkorswim does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Thinkorswim terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all Thinkorswim fees and services. It's recommended that you check the Thinkorswim website before signing up. If you decide to close your Thinkorswim account, it's important to do so with the Thinkorswim broker customer support and obtain confirmation that no remaining Thinkorswim fees are due.

Brokers like Thinkorswim must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

Thinkorswim Deposit Fees

Thinkorswim do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

Thinkorswim Commission Fees

Thinkorswim does charge commission on CFD instruments.

Brokerage firms like Thinkorswim may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Thinkorswim trading account level held by the trader.

Thinkorswim may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Thinkorswim terms and conditions to understand the commission fees and any other charges that may apply is essential.

Thinkorswim review
What can you trade with Thinkorswim?

It's essential to note that the trading instruments offered under the Thinkorswim brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Thinkorswim trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

You can trade a wide variety of instruments with Thinkorswim over 224 instruments in fact.

If you want to trade currency pairs on global Forex markets, Thinkorswim offer over currency pairs.

Thinkorswim Compared To Other Brokers

Compare Thinkorswim with IC Markets and Roboforex below.

Your capital is at risk

How Thinkorswim Trading Options Compare Against Other Brokers

Broker thinkorswim IC Markets Roboforex eToro
Instruments Available 224 2250 100 5000
Platforms Desktop,Android,Tablet,iPhone MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 61 35 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) NO Yes No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals No Yes Yes Yes
Energies NO Yes No Yes
Agricultural NO Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 2100 0 2042
UK Shares Yes Yes Yes Yes
US Shares NO Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares NO Yes Yes Yes
Risk Warning Visit Thinkorswim
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
76% of retail investor accounts lose money when trading CFDs with this provider.

Thinkorswim review
Trading on Thinkorswim web platforms and other applications

Thinkorswim provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

A Thinkorswim iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

Thinkorswim also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See Thinkorswim's platforms

Is the Thinkorswim Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the Thinkorswim trading platform to protect you on PC and mobile Thinkorswim platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Thinkorswim web trading platforms.

Thinkorswim Trading Platform Options

Thinkorswim does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Thinkorswim offers its custom trading platform developed and tested in-house. The Thinkorswim trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.

The Thinkorswim platform allows traders to filter the financial marketplace for trade opportunities that match criteria.

With Thinkorswim, you can examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Thinkorswim platform, including news and quotes. Discover possible trades with the strong charting tools found with Thinkorswim. Thinkorswim is available as downloadable applications or online through the cloud. Monitor your orders with Thinkorswim and receive breaking news in your positions.

Thinkorswim Trading benefits

  • Thinkorswim Low min deposit

Thinkorswim Trading Accounts Offered

Below we give an overview of the account types that Thinkorswim offer. Whatever you are looking to trade, the varying Thinkorswim account types will be able to provide you with what you need.

  • Thinkorswim Demo account
  • Thinkorswim Islamic account

Can I try Thinkorswim?

Thinkorswim provides a demo account that enables individuals to explore trading before investing their funds. By creating a Thinkorswim practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Thinkorswim demo account can help individuals to make informed decisions before investing their money.

Open a demo Thinkorswim account to practice and trade.

Your capital is at risk

Thinkorswim withdrawal and funding methods

It's essential to remember that the payment methods provided by Thinkorswim vary based on the Thinkorswim entity and the Thinkorswim client's country of residence. To view the Thinkorswim payment options available, you can log into your Thinkorswim member's area.

Thinkorswim offers various funding payment methods listed in your Thinkorswim dashboard if available in your region. To learn more about the Thinkorswim funding and withdrawal options available in your area, you can explore the Thinkorswim website.

Thinkorswim provides several payment methods for funding your Thinkorswim account. You may utilize any of these deposit options if they are available in your region. Thinkorswim ensures that users have multiple payment methods to choose from, making it more convenient for verified Thinkorswim account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Thinkorswim user's location. learn more about Thinkorswim funding and withdrawal methods.

Thinkorswim Payment Methods

Some Thinkorswim payment methods are local and are available only to specific regions. Thinkorswim account holders should check which payment methods are provided in your region.
  • Thinkorswim accepts Electronic Bank Deposit (ACH)
  • Thinkorswim accepts Bank Wire transfer
  • Thinkorswim accepts Cheque or Check
  • Thinkorswim accepts Account Transfer from Another Firm
  • Thinkorswim accepts Physical Stock Certificates
Broker thinkorswim IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer No No Yes No
Neteller No Yes Yes Yes

*please note available Thinkorswim and other broker payment methods depend on the clients country of residence.

How can I start trading with Thinkorswim?

To open a trading account with Thinkorswim, individuals can sign up on the Thinkorswim website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for Thinkorswim account validation and making a deposit. Once completed, Thinkorswim users can download the trading platform of their choice.

It's important to note that Thinkorswim requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Thinkorswim maintain a trustworthy financial environment for its 10,000 users. Detailed information on the Thinkorswim trading platforms is available on their website.

Your capital is at risk

Performing trades with Thinkorswim

When using Thinkorswim, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. Thinkorswim have a max trade of varies.

Thinkorswim, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like Thinkorswim can be useful for traders starting or with limited capital.

Like other brokers, Thinkorswim margin requirements can differ depending on the traded instrument.

CFD Trading on Thinkorswim

We will show you an example of the basics of using Thinkorswim leverage.

CFD trading on Thinkorswim allows traders to speculate on the price movements of various financial instruments against the broker Thinkorswim, without actually owning real assets. With CFDs, Thinkorswim traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

Thinkorswim provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, Thinkorswim leverage profits and losses are magnified when trading. For instance, using CFDs, you use the Thinkorswim trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, Thinkorswim leverage magnifies both profits and losses in trading.

Trading CFD trades on the Thinkorswim platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced Thinkorswim traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education Resources at Thinkorswim

To trade effectively with Thinkorswim, it's important to have a good understanding of the Thinkorswim trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Thinkorswim and externally.

Thinkorswim . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Thinkorswim. Familiarizing yourself with the Thinkorswim trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using Thinkorswim. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Thinkorswim involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like Thinkorswim, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with Thinkorswim. Explore the Thinkorswim platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Thinkorswim, before live trading.

Customer Support at Thinkorswim

As part of our Thinkorswim review, we review customer service options, response times and problem resolution effectiveness on the Thinkorswim trading platform. The Thinkorswim trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

Thinkorswim Available Support Types

Based on our experience, we have given Thinkorswim a D grade for customer support. We encountered some slow response times or Thinkorswim queries that were left unanswered.

Compared to other brokers, Thinkorswim offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Thinkorswim

Our team tested the live chat support of Thinkorswim and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.

In addition, we tested Thinkorswim support services in various countries and languages and found that Thinkorswim were able to effectively resolve our customer issues.

Email Support at Thinkorswim

We tested the email support of Thinkorswim by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any Thinkorswim response.

The Thinkorswim team did resolve and answer our queries, but the email support from Thinkorswim was overall average compared to other brokers we have tested.

Phone Support at Thinkorswim

We contacted Thinkorswim via phone and received quick assistance within 10 minutes of our call.

The Thinkorswim phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Thinkorswim and found that they could assist us in various languages.

While we found the Thinkorswim phone support satisfactory, there is room for improvement in response time.

See how Thinkorswim Support Compares Against Other Brokers

Broker thinkorswim IC Markets Roboforex eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit Thinkorswim Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 76% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with Thinkorswim

As Thinkorswim is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).

As a new client of Thinkorswim, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Thinkorswim in your region. During the Thinkorswim account opening process, you will be asked to provide Thinkorswim with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with Thinkorswim have the following documents available.

  • Thinkorswim require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for Thinkorswim compliance. This must be dated within the last six months.
  • If you plan to fund your Thinkorswim account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Thinkorswim platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under Thinkorswim Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Thinkorswim's platform.

However, remember that you won't be able to make trades on Thinkorswim until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Thinkorswim KYC compliance process as soon as possible to avoid any delays in accessing the Thinkorswim platform's features.

It is important to note that Thinkorswim may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Thinkorswim platform and features immediately. However, you must pass the verification process to start live trading with Thinkorswim, which can take up to a few business days.

To start the process of opening an account with Thinkorswim you can visit the Thinkorswim trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.thinkorswim.com/ on March 25, 2024.

Is Thinkorswim A Good Broker?

We have spent over 5 years examining Thinkorswim in depth. Although we found some very useful aspects of the Thinkorswim platform that would be useful to some traders. We feel that a alternative to Thinkorswim may better suit you.

  • Thinkorswim have a good track record of offering Forex trading, CFD trading, Share Dealing.
  • Thinkorswim has a history of over 16 years.
  • Thinkorswim has a reasonable sized customer support of at least 10.
  • Thinkorswim are regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Thinkorswim is subject to strict regulatory oversight from its respective jurisdiction, which holds Thinkorswim (the broker) accountable for misconduct. This regulatory framework helps ensure that Thinkorswim operates fairly and transparently and provides Thinkorswim customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Thinkorswim.
  • Thinkorswim have regulation from reputable regulators.
  • One of the advantages of using Thinkorswim is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Thinkorswim are particularly important as Thinkorswim traders want to receive their money quickly. With the efficient Thinkorswim payment processing system, traders can enjoy faster access to their Thinkorswim funds.
  • Thinkorswim have an international presence in multiple countries. Including local Thinkorswim seminars and training.
  • Thinkorswim can hire people from various locations in the world who can better communicate in your local language.

Thinkorswim Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

Thinkorswim not quite right?

If after reading this Thinkorswim review, Thinkorswim does not fulfill your needs check out these Thinkorswim Alternatives.

Click here to view the best Thinkorswim Alternatives

We have spent years researching the best alternatives to Thinkorswim. Click the links below to learn more.

After extensive research over several years, we have compiled a list of the most effective Thinkorswim alternatives available today. If you are unsatisfied with Thinkorswim or want to explore other options, we recommend checking out our carefully curated list of highly-rated Thinkorswim alternatives. Follow the links below to learn more about these Thinkorswim broker alternatives and choose the one that best suits your trading needs.

Related Thinkorswim Vs Comparisons

Throughout our comprehensive Thinkorswim review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing Thinkorswim against other popular brokers in the industry, check out our Thinkorswim Vs pages. Our team has compiled a series of detailed Thinkorswim comparison articles, pitting the Thinkorswim platform against some of the best-rated Thinkorswim competitors in the market. Dive into our informative Thinkorswim Vs pages below to find out how Thinkorswim stacks up against other leading brokers.

Thinkorswim review
THINKORSWIM Frequently Asked Questions

Read our detailed Thinkorswim FAQ Section updated for 2024.

Can I try Thinkorswim?

Thinkorswim offer a demo account so you can try the Thinkorswim platform with virtual trading before you put down a payment. Virtual trading with Thinkorswim is zero risk. Learn more here

What funding methods do Thinkorswim accept?

Please note that the list of payment methods below depends on the Thinkorswim Entity and the client's Country of Residence.

Thinkorswim offer the following funding payment methods Electronic Bank Deposit (ACH), Bank Wire transfer, Cheque or Check, Account Transfer from Another Firm, Physical Stock Certificates, among other payment methods.
Learn more here

Your capital is at risk

Is Thinkorswim safe?

Thinkorswim have over 10,000 users. Thinkorswim are considered reliable as they are regulated by and checked for conduct by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Any payments funded to Thinkorswim accounts by traders are held in a segregated bank account. For added security,Thinkorswim use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with Thinkorswim is risky, and because the market is so volatile, losses could happen at any time. Do not invest with Thinkorswim unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Your capital is at risk

Is Thinkorswim trading good?

Thinkorswim is considered good and reputable to trade with Thinkorswim. Thinkorswim is used by over 10,000 traders and Thinkorswim users. Thinkorswim offers Forex trading, CFD trading, and Share Dealing trading. Minimum deposit with Thinkorswim is 100.

Is Thinkorswim trading Legit?

Thinkorswim was founded in United States in 2008. Thinkorswim has been facilitating trade on the financial markets for over 16 years. Thinkorswim offers clients Forex trading, CFD trading, and Share Dealing trading. All funds deposited to Thinkorswim are held in segregated bank accounts for security. Thinkorswim is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) so can be considered legit.

Is Thinkorswim a good broker?

Thinkorswim allows Forex trading, CFD trading, and Share Dealing trading. Thinkorswim is overseen by the top tier financial regulators Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) so can be considered a good broker.

Is Thinkorswim trustworthy broker?

Thinkorswim is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to Thinkorswim, money is in a segregated bank account that is separate from Thinkorswim company's funds. As a regulated broker, Thinkorswim cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by Thinkorswim. Instead, your Thinkorswim funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with Thinkorswim. Also Thinkorswim is regulated in its local jurisdictions including major financial regulators like Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).

What is the minimum deposit for Thinkorswim?

The minimum deposit to trade with Thinkorswim is 100.

How long do Thinkorswim withdrawals take?

Withdrawing money from Thinkorswim processing time varies depending on the method but averages 1-5 days.

Is Thinkorswim regulated?

Thinkorswim is regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Regulatory bodies conduct regular reviews and audits as part of Thinkorswim maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Thinkorswim a market maker?

Thinkorswim is not a market maker. A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller is not lined up.

How can I start trading with Thinkorswim?

When opening a trading account with Thinkorswim, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Thinkorswim trading platforms, you can follow the link provided below: Learn more about signing up with the Thinkorswim trading platform here. This will provide useful information and insights into the various trading platforms offered by Thinkorswim, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with Thinkorswim?

Yes your money is safe with Thinkorswim.

Overall, strict financial regulation is essential for ensuring that trading platforms like Thinkorswim operate fairly, transparently, and responsibly, which ultimately benefits all Thinkorswim stakeholders involved.

Trading platforms like Thinkorswim must have strict financial regulation for several reasons:

  • Protecting Thinkorswim Investors: Strict financial regulation ensures that investors who use the Thinkorswim trading platform are protected against fraudulent or unethical behavior by the Thinkorswim platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Thinkorswim platform.
  • Maintaining Thinkorswim Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Thinkorswim trading platform. Regulatory procedures reduce the likelihood of the Thinkorswim platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing Thinkorswim Transparency: Regulations require trading platforms like Thinkorswim to maintain detailed records and disclose Thinkorswim client information. Financial regulatory requirements enhances transparency and helps to build trust between the Thinkorswim platform and its investors.

Thinkorswim is regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). When selecting a broker such as Thinkorswim, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Thinkorswim ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Thinkorswim.

Is Thinkorswim a con?

Thinkorswim is regulated and well established, having been in business for over 16 years. Thinkorswim is not a con.

Can you make money with Thinkorswim?

Although traders have had great success with Thinkorswim, trading on the financial markets with Thinkorswim is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Thinkorswim have fees?

Thinkorswim withdrawal fees vary on payment method.Thinkorswim does charge a fee for inactive accounts. Thinkorswim do charge deposit fees.

When was Thinkorswim founded?

Thinkorswim was founded in 2008.

How many people use Thinkorswim?

Thinkorswim is used by over 10,000 registered Thinkorswim users.

What is Thinkorswim Headquarters country?

Thinkorswim has its head quarters office in United States .

Does Thinkorswim offer negative balance protection?

Thinkorswim does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.

Does Thinkorswim offer guaranteed stop loss?

Thinkorswim does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Thinkorswim allow scalping?

Thinkorswim does not offer scalping.

Does Thinkorswim allow hedging?

Thinkorswim does not offer hedging.

Does Thinkorswim offer CFD trading?

Thinkorswim offers CFD trading.

Does Thinkorswim offer STP?

Thinkorswim does not offer STP trading.

How many people use Thinkorswim?

Thinkorswim is used by over 10000 Thinkorswim users and traders.

Is Thinkorswim an ECN broker?

Thinkorswim does not offer ECN trading.

Does Thinkorswim offer a demo account?

Thinkorswim offers a demo account.

Does Thinkorswim offer an Islamic account?

Thinkorswim offers an Islamic account.

What are the funding methods for Thinkorswim?

Please note that funding methods and options available with Thinkorswim can be found in the Thinkorswim Members area and depend on the Thinkorswim client’s country of residence. Please check your specific available payment methods on the Thinkorswim website. Thinkorswim accept the following funding methods : Electronic Bank Deposit (ACH), Bank Wire transfer, Cheque or Check, Account Transfer from Another Firm, Physical Stock Certificates.

Thinkorswim review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Thinkorswim brokerage firm useful.

This article was written by our financial editors, Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Thinkorswim review written by Mark Hansen of Comparebrokers.co