thinkorswim is a US-based broker founded in 1999 as a company specializing in trading options. Since 2009, it has been a subsidiary of an American online broker company called TD Ameritrade. These guys are among the best in this industry and a company that has received many awards, like #1 Online Broker for Long-Term Investing, Usability, Research Amenities, Portfolio Analysis & Reports, and Novices according to Barron’s online broker review. We are doing this thinkorswim Review 2016 to check all major features of this broker and to see if this really is a company worth trading with. We are going to analyze everything, from its trading platform to bonuses, to show you how this broker operates. Then it will be up to you to decide if you want to trade with them or not. Ready to do some researching? Then keep reading our thinkorswim Review 2016.
thinkorswim Review 2016 | Trading platform
We will start with the trading platform, a very important, if not the most important part of your trading experience. You have several options to choose from, so feel free to choose the one that suits you best. First off, you can download their desktop platform which is based on the latest technology and has excellent features. This means that you will have the ability to do charts and technical studies, use their technical indicator thinkScript, scan for best pairs and stocks, and try their thinkOnDemand feature that records market data. If you want, you can also use their webBasedTrading, which means you can simply log into your account from any computer without the need to download the platform. Another way to trade with this company is the thinkorswim mobile app – simply install it on your smartphone and you can trade wherever you are. There is one more option called paperMoney, which is actually a demo account that allows you to practice without spending any real money, since all the money in this platform is virtual. If you want to know more about the platforms, we recommend you read our article thinkorswim Trading Platform, as we move on with this thinkorswim Review 2016.
thinkorswim Review 2016 | Money transfer
Let’s see how the money transfer is handled here. To start with, transferring money through electronic funding is very easy. Electronic funding or Automated Clearing House (ACH) is an electronic network for financial transactions in the United States, and this type of transactions must come from a US bank. With this option, you have to deposit more than $50 for your initial deposit, and you can’t deposit more than $250,000 per day. Next option is to use wire transfer, and they accept both domestic and foreign wire transfers. You can send a check or even transfer assets between two existing accounts, and there is also a possibility to deposit your stock certificates. If you want to learn more details, such as the situation regarding the fees and other interesting details, just read our thinkorswim Fees article. But do stay with us; we have a few more things to show you in this thinkorswim Review 2016.
thinkorswim Review 2016 | Account types
thinkorswim have some very interesting account types that are specially designed for specific groups of people. That is why you can choose between Standard, Retirement, Education or Specialty account types. Standard Individual account is a classic trading account which can be upgraded for options, futures and forex trading, and there is no minimum funding required to open an account. A Traditional Retirement account may give you an immediate tax benefit because contributions are often tax deductible, there is no minimum initial deposit to open an account and no maintenance fees. A 529 Plans Education account is excellent for students saving money for college because your money grows tax-deferred.
This type of account is especially designed to meet the needs of every family and every budget, since there are no income limitations or minimum annual contributions. With a Specialty account you can have a Specialty Trust account to transfer assets to other recipients or Specialty Limited Partnership to have a business for profit. There are many possibilities with these accounts, so look into it because it could pay off big time. All of these account types can be used to trade on-the-go with your thinkorswim App, so you can always keep track of what’s going on. We have one more thing for you in this thinkorswim Review 2016, so keep on reading.
thinkorswim Review 2016 | Bonus
Bonus programs are an excellent way to earn more money, so that is why we would like to take a look at them like in this thinkorswim Review 2016. Once again, thinkorswim has prepared something great for you. For deposits of $3,000 or more you get 60 days of commission free trading, for $25,000 – $99,999 you get 60 days of commission free trading plus a $100 bonus, for $100,000 – $249,999 bonus is $300, while for a deposit of $250,000 or more you get a $600 bonus. Think of this as an investment: the more you deposit the larger your bonus money will be. If you are worried about the safety of your investments and the company’s reliability, read our Is thinkorswim a Scam? where we prove this company is 100% legit.
thinkorswim Review 2016 | Conclusion
There is only one thing we can say at the end of this thinkorswim Review 2016: this is an excellent broker we would highly recommend to anyone, and here are the reasons for that claim. They have a great array of trading platforms to choose from, with helpful features and analytical tools. You can transfer your money without any problems, plus they have some specially designed account types that you will definitely like. The last thing we need to emphasize is their bonus program where you can earn a lot of extra money by simply funding your account. There is really nothing more to say because every aspect of this broker is better that the other. Don’t hesitate; open an account here right now!