Review: ThinkorSwim

You may not have heard of ThinkorSwim, but you will want to familiarize yourself with it. This affordable trading platform is steadily gaining in popularity and is available at a rate that should make it a competitive option for any trader.

Of course, these are surface level buzzwords that should not be enough to sell you on a program. After all, the platform of a trader is perhaps their most valuable resource. That being the case, read on for a comprehensive review of ThinkorSwim to determine if it is right for your needs.

Things You Might Like

  • Mobile Option: Mobile options aren’t quite as prominent in the world of trading platforms as one might assume which is why it is nice to see that ThinkorSwim is utilizing one. With this feature, you will be able to take your work with you wherever you go so that you won’t be tied down to a desk all day.

Granted, features are always going to be more comprehensive on the desktop version but if you need to work on the go, or even just run out for a little bit, you have the option to do so without missing anything.

  • Practice Makes Perfect: The world of trading can be quite intimidating to the beginner but fortunately, ThinkorSwim gives you the opportunity to try out strategies and grow in confidence without any risk.

The simulation trading is a great way for new traders to learn the ropes, and it is even a useful option for experienced traders to get free feedback on their developing strategies.

  • Try Before You Buy: Since the only way to really understand a program is to take it out for a test drive, it is nice to see that you can play around with ThinkorSwim for free for the first two months.

Now, to be fair, during that time you are going to have to use the program in simulation mode meaning you can’t actually make money from it but nevertheless the simulation is still going to help you make a decision as to whether or not the program is right for you.

Once you do decide to commit to the program, you will need to make a deposit of $3500 to get started, which is on the steeper side.

Things That You Might Not Like

  • Slow to Start: Most of the time that you try to fire this software up you are going to encounter the need to undergo some updates. Because of this, the program generally takes a few minutes to be functional.

Now, this isn’t necessarily a deal breaker, but it certainly isn’t convenient either.

  • Tough for Beginners: ThinkorSwim actually features a really great interface but beginners may still struggle with it a little bit. There are a lot of features and options to navigate around and for that reason, there is something of a learning curve.

The good news is that you can overcome that learning curve for free using the simulation mode, and once you get it down pat you, of course, will enjoy the benefit of all the features that come with the program.

Conclusion

There is a lot to be said about the quality of this product, and for the price (free) I am very much of the mind that it is well worth your time to try it for the trial period.

For the new trader, ThinkorSwim represents a relatively easy way to get started, which is nice given how complicated this sort of software can sometimes be. I am of the mind that veterans will have something to gain fromm the program. It’s useful features and free point of entry make it an attractive option for people of all skill levels.