Thinkorswim Review 2020

Thinkorswim Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.

Thinkorswim Guide

Thinkorswim are an online broker founded in 2008 offering Forex trading trading, CFD trading trading, and Share Dealing trading.

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

Thinkorswim have a listed stock symbol. This means that Thinkorswim have publically listed and you can officially buy shares in Thinkorswim on one of the worlds global market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Thinkorswim we break down the pros and cons. What Thinkorswim are able to offer, what countries Thinkorswim are available in. Who Thinkorswim are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Thinkorswim

Open Thinkorswim's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to Thinkorswim

With this review we hope to help you see if Thinkorswim is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Thinkorswim that will help you get off to a good start in the world of online trading.

Thinkorswim Review Table of Contents

Thinkorswim what you should know

Thinkorswim offer three ways to trade: Forex trading, CFD trading, Share Dealing.

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 choosing a broker like Thinkorswim the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 12 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.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Thinkorswim, this will be honored. If Thinkorswim violate any regulatory rules their regulated status could be stripped.

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 banks financial health and strength.

Try creating two accounts when you are working with Thinkorswim. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

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.

Broker thinkorswim eToro XTB Trading212
Year Established 2008 2006 2002 2006
Head Office United States Cyprus, UK Poland UK
Regulation Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 250,000+ 14,000,000+
Negative balance protection No Yes Yes
Guaranteed Stop Loss No No Yes
Learn More Visit Thinkorswim Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Thinkorswim Pros and Cons

What we like about Thinkorswim

  • Used by over 10,000 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 Financial Regulation and Supervision in more detail

We have checked and Thinkorswim is regulated and supervised by reputable organisations. You are able to check every Thinkorswim supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Thinkorswim. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Thinkorswim traders and provide a safe trading environment.

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

Thinkorswim General Fees

  • Thinkorswim withdrawal fees varies on payment method
  • Thinkorswim does charge inactivity fees
  • Thinkorswim does charge deposit fees
Broker thinkorswim eToro XTB Trading212
Min Deposit 100 200 0 1
Withdrawl Fees varies Yes varies No
Inactivity Fees Yes No No
Deposit Fees No No No
CFD Commission Fees No Yes No

Thinkorswim Commissions

  • Thinkorswim does charge commission on CFD instruments.

What can you trade with Thinkorswim?

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

If you are looking at trading currency pairs Thinkorswim offer over currency pairs.

Compare Thinkorswim with eToro and XTB below.

Your capital is at risk

Broker thinkorswim eToro XTB Trading212
Instruments Available 224 100 1,500 3000
Platforms Desktop,Android,Tablet,iPhone Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies Visit Thinkorswim Visit eToro Visit XTB Visit Trading 212
Forex pairs offered 50 50 177
Major forex pairs Yes Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs Yes Yes Yes Yes
Cryptocurrencies NO Yes Yes Yes
Commodity CFDs Visit Thinkorswim Visit eToro Visit XTB Visit Trading 212
Commodities Offered 0 0 21 14
Metals No Yes Yes Yes
Energies NO Yes Yes Yes
Agricultural NO Yes Yes Yes
Indiced & Stock CFDs Visit Thinkorswim Visit eToro Visit XTB Visit Trading 212
Stocks Offered 957 1696 1731
UK Shares Yes Yes Yes Yes
US Shares NO Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares NO Yes Yes Yes

Trading on Thinkorswim web platforms and other applications

Thinkorswim offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

An 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, making it easier to keep an eye on and execute your trades while you’re on the move.

See thinkorswim's platforms

Thinkorswim Trading benefits :

  • Low min deposit

Thinkorswim Trading Accounts Offered :

  • Demo account
  • Islamic account

Can I try Thinkorswim before I buy?

Thinkorswim offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Thinkorswim withdrawl and funding methods.

Thinkorswim offer the below funding payment methods. learn more about Thinkorswim

  • Credit cards
  • Neteller
  • UnionPay
Broker thinkorswim eToro XTB Trading212
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes No
Neteller Yes Yes Yes No

How can I start trading with Thinkorswim?

When opening a trading account with Thinkorswim, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Thinkorswim trading platforms here.

Performing trades with Thinkorswim

Thinkorswim allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Thinkorswim allow you to execute a maxium trade of varies.

As a market maker, Thinkorswim may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

Thinkorswim Leverage and Thinkorswim CFDs Explained

let's take a look at some of the basics of using Thinkorswim leverage.

Thinkorswim offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Thinkorswim leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Thinkorswim trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Thinkorswim leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Thinkorswim CFDs are typically used for short to medium term trades. For example Thinkorswim intraday trading.

Education resources at Thinkorswim

To trade effectively with Thinkorswim, it's important to get a have a good understanding of the Thinkorswim trading tools and the markets.

Thinkorswim offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Thinkorswim.

Take time to look around the Thinkorswim platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Thinkorswim

Thinkorswim support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

Thinkorswim have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Thinkorswim less customer support features compared to other brokers like live chat, phone and email support. 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

We tested the Thinkorswim live chat and it works well. We sent messages to Thinkorswim livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with Thinkorswim support in multiple languages in multiple countries. Thinkorswim where able to resolve our customer issues.

Email Support at Thinkorswim

We sent several emails to Thinkorswim and answer times overall were excellent. The fastest response from Thinkorswim was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with Thinkorswim, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Thinkorswim.

Phone Support at Thinkorswim

We called Thinkorswim and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Thinkorswim phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Thinkorswim team by calling in varying languages. Thinkorswim made an effort to make sure our queries were answered.

Overall the phone support from Thinkorswim was okay.

See how Thinkorswim Support Compares Against Other Brokers

Broker thinkorswim eToro XTB Trading212
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, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit Thinkorswim Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Thinkorswim's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Thinkorswim you can visit their website here.

CFDs are leveraged products and can result in the loss of your 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 as investment advice. All information collected from https://www.thinkorswim.com/ on 12th August 2018.

Is Thinkorswim A Good Broker?

We spent over 3 months examining Thinkorswim in depth. Although we found some very useful aspects of the Thinkorswim platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Thinkorswim broker.

  • Thinkorswim have a good track record of offering Forex trading, CFD trading, Share Dealing.
  • Thinkorswim has a history of over 12 years.
  • Thinkorswim has a reasonable sized customer support of at least 10.
  • Thinkorswim are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). This means Thinkorswim fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Thinkorswim have regulation from a Tier 1 reputable country.
  • Thinkorswim has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Thinkorswim have an international presence in multiple countries. This includes local Thinkorswim seminars and training.
  • Thinkorswim are able to hire people from various locations in the world who can better communicate in your local language.

Thinkorswim Risk Disclaimer

Your capital is at risk

Thinkorswim not quite right?

Check out these Thinkorswim Alternatives

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

If you feel some of the above Thinkorswim are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Thinkorswim alternatives below.

Related Thinkorswim Comparisons

If you would like to see how Thinkorswim stands up against other brokers you can read some of our Thinkorswim comparisons below. We compare side by side some of our top rated Thinkorswim versus comparisons. Read some indepth Thinkorswim VS pages below.

THINKORSWIM Frequently Asked Questions

Can I try Thinkorswim before I buy?

Thinkorswim offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do Thinkorswim accept?

Thinkorswim offer the following funding payment methods accept Credit cards, Neteller, among other payment methods.
Learn more here

Your capital is at risk

Is Thinkorswim safe?

Thinkorswim are considered safe 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 banks financial health and strength.

Is Thinkorswim trading good?

Thinkorswim is considered good and reputable to trade with. ThinkorswimThinkorswim is used by over Thinkorswim active traders. Thinkorswim offers Forex trading trading, CFD trading trading, and Share Dealing trading. Minimum deposit with Thinkorswim is mindeposit.

Is Thinkorswim trading Legit?

Thinkorswim was founded in United States in 2008. Thinkorswim has been facilitating trade on the financial markets for over 12 years. Thinkorswim offers clients Forex trading trading, CFD trading trading, and Share Dealing trading. All funds deposited to Thinkorswim are held in segregated tier 1 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 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.Thinkorswim allows Forex trading trading, CFD trading trading, and Share Dealing trading.

Is Thinkorswim trustworthy broker?

Thinkorswim can be considered trustworthy. All money funded to Thinkorswim is placed into a segregated tier 1 bank account. this means your money in not held by Thinkorswim directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Thinkorswim is regulated by 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 but averages 2-5 days.

Is Thinkorswim regulated?

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

Is Thinkorswim a market maker?

Thinkorswim is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer 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. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Thinkorswim trading platforms here.

Is my money safe with Thinkorswim?

Thinkorswim is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). One of the most important criteria for traders when choosing a broker like Thinkorswim is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Thinkorswim, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Thinkorswim a con?

Thinkorswim is regulated and well established having been in business for over 12 years. Thinkorswim is definitely 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 varies on payment method. Thinkorswim does charge inactivity fees. Thinkorswim does charge deposit fees.

When was Thinkorswim founded?

Thinkorswim was founded in 2008.

How many people use Thinkorswim?

Thinkorswim is used by over 10000 registered traders.

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 means 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 guarenteed 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 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 a Islamic accounts.

What are the funding methods for Thinkorswim?

Thinkorswim accept the following funding methods : Credit cards, Neteller, UnionPay,

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 editor 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 experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, 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