As the Stock Broker Wars have heated up over the last couple of months with all of the major brokerages slashing their trade commission rates to zero, the arms race for more users rests now more than ever on a broker’s ability to drive value through their technology and platforms. Many competitors brag about the features of their platform, but only one brokerage offers a best in class platform with all the features a trader could ever dream of. That brokerage is TD Ameritrade, and their platform is called Thinkorswim. Despite the puzzling name, the Thinkorswim platform packs every punch that retail traders need in their arsenal.
Thinkorswim is a desktop platform that provides retail traders everything they need, all in one screen. If a trader insists on multiple screens, Thinkorswim’s detach feature allows charts to be detached from the main screen so they can be moved to other computer monitors. Like the desktop platforms of other competitors, Thinkorswim makes the user’s screen customizable with a wide array of available gadgets including watchlists, news feeds, video and audio feeds with exclusive market analysis, and quick charts among many other gadgets that can be placed in the side bars of the screen. The platform also boasts a robust stock scanner, with the ability to seamlessly scan for stocks based on price, volume, candle patterns, and indicator interaction just to name a few. Thinkorswim also has an in-depth scanner that allows options pros to find their favorite contracts and spreads.
Additionally, Thinkorswim has a sidebar with buttons that allow you to easily access Level 2 information, market depth via the Active Trader button, and a Time and Sales button that allows you to read the tape as orders execute in real time. The software is also fully programmable with the ability to setup a multitude of hot keys and adjust a myriad of settings. Thinkorswim users can also access TD Ameritrade’s Learning Center through the platform to continually build their skills and knowledge. For investors and traders that are looking for a fully customizable solution with a robust suite of features, TD Ameritrade’s Thinkorswim platform should definitely be at the top of their list.