thinkorswim is the provider of an online stock analysis tool, thinkDesktop. The stock analysis tool is noted for its superior trade execution platform, its virtual account, its backtesting tool and its stock screening tool, Spread Hacker. The company merged with TD Ameritrade in 2009 to complement its innovative technology with exceptional client support.
Before the merger, thinkorswim was rated the Number 1 overall online broker in 2009 by Barron’s. Prior to this award, thinkorswim won the Best Software-Based Online Broker Award in 2006. When compared to its competitors, thinkorswim was superior in terms of trade experience, trade technology, usability, range of offerings, research amenities, portfolio analysis, customer service and cost.
thinkorswim has both a software and a web based platform in its arsenal of tools. The software version of thinkorswim, thinkDesktop, is user friendly and intuitive. It is suitable for all levels of investors, from beginners to professionals. The platform even has a virtual platform where the investor can use thinkorswim’s “paperMoney” to practice before executing an actual trade.
thinkorswim also has three other software applications to assist the investor: ThinkPipes, ThinkLinks, and ThinkFix. ThinkPipes is a professional trade execution platform. This software is designed for trading and risk management for market makers, investment boutiques, hedge funds, or institutional money managers. For order management, ThinkLinks is the platform for Tier 1 brokers, Investment banks, Institutional brokers, and equity specialists. ThinkFix allows for automated trades and execution, analytics, and API.
thinkorswim was one of the first brokers to create a Web 2.0 trading website. Web based applications give the investor the opportunity to trade on any computer that has the internet and browser capabilities. Additionally, thinkorswim possesses a mobile application that will allow the investor to trade while on the go.
Their account balance feature will allow the consumer to view all historical data, down to order placements and individual trade history. This information is helpful for calculating capital gains and losses for accounting and tax purposes.
Spread Hacker is a tool within the thinkorswim platform that allows the investor to scan each exchange for stocks that meet predetermined criteria. Bullish or bearish patterns can be determined using technical and other indicators. The technology selects for the investor, so that the investor can focus on the actual trade itself.
thinkDesktop's trading platform comes equipped with advanced real time charting that includes a number of studies ranging from Fibonacci to Bollinger Bands. Each study can be customized to suit the viewer’s tastes by adjusting colors, style, and width. One of the most impressive features of the thinkorswim application is the ability to modify the existing scripts of the studies included. The investor can do this by selecting the scroll next to the study in the drop down menu and modify the script for the existing study. This is an advanced feature that will allow maximum customization and flexibility for the consumer.
Advance charting will give the investor the ability to superimpose a technical study on top of another technical study. The overlap volume feature will allow the investor to view the volume in a shadowed format in the background of the current chart. The bars of the chart can also be expanded and chart aggregation periods can be selected. The investor can also save chart styles to utilize the chart settings that are most desired to the investor.
thinkorswim puts the power to trade stocks, options, mutual funds, futures, and Forex in the investor’s hands. The software platform accommodates all types of trades and delivers investment education to assist with trading strategies.
Very few online brokers offer this option. However, thinkorswim offers over 50 different autotrading newsletters for the investor. However, the investor must register with the newsletter before the investor can autotrade based upon the recommendations received.
TOS advisors are available to assist with building an investment strategy and a portfolio to help the investor understand the basics such as capital gains taxes.
thinkorswim's stock analysis tool is free when an account is opened. The software is also available for download prior to an investment.
thinkorswim’s stock analysis tool is a phenomenal value for the features offered. Although it is brokerage dependent, the software is user friendly and easy to navigate. While the interface is customizable, the defaults are set to be pleasing to the eye.
thinkorswim, along with eSignal and Ninja Trader, allow the investor the ability to modify and write scripts for customized studies. Autotrading newsletters are also offered by thinkorswim. thinkorswim is one of the few recognized stock analysis tools that offer this feature through the trading platform.
This stock analysis tool is well developed and recommended by TopTenREVIEWS for its usability and technological advances.
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