Thinkorswim by TD Ameritrade (now part of Charles Schwab) is one of the most powerful and comprehensive trading platforms available to retail investors. Known for its advanced options trading capabilities, sophisticated charting tools, and professional-grade features, Thinkorswim has become the platform of choice for serious traders and active investors.

Key Takeaways

• Industry-leading options trading platform
• Advanced charting with 400+ technical studies
• Completely free with no account minimums
• Excellent educational resources and support
• Limited cryptocurrency trading options

What is Thinkorswim?

Thinkorswim is TD Ameritrade's flagship trading platform, designed for active traders and sophisticated investors. Originally developed as a separate company and acquired by TD Ameritrade in 2009, Thinkorswim has evolved into one of the most feature-rich trading platforms in the industry.

The platform offers comprehensive tools for trading stocks, options, futures, forex, and bonds. While it doesn't directly support cryptocurrency trading like dedicated crypto platforms, it provides excellent analysis tools for traditional markets and some crypto-related securities. For direct crypto trading, you might want to explore our guide on the best crypto wallets and exchanges.

Key Features and Tools

Advanced Options Trading

Options Chain

• Real-time options pricing
• Greeks calculations and analysis
• Probability analysis tools
• Multi-leg strategy builder

Strategy Tools

• Risk profile visualization
• Profit/loss analysis
• What-if scenarios
• Position management tools

Professional Charting

Thinkorswim's charting capabilities rival those of professional trading terminals:

• 400+ technical studies and indicators
• Custom study creation with thinkScript
• Multiple chart types and timeframes
• Advanced drawing tools and annotations
• Market heat maps and sector analysis

Research and Analysis

Fundamental Analysis

• Company financials and earnings data
• Analyst ratings and price targets
• Economic calendar and news feed
• Sector and industry comparisons

Scanning and Screening

Powerful tools to find trading opportunities:

• Pre-built and custom stock screeners
• Options opportunity scanner
• Technical pattern recognition
• Real-time market scanning

Pricing and Fees

Platform Access

FREE

• No platform fees
• No account minimums
• Full feature access
• Real-time data included

Trading Commissions

Per Trade

• Stocks & ETFs: $0
• Options: $0 + $0.65/contract
• Futures: $2.25/contract
• Forex: Spread-based

User Interface and Experience

Desktop Platform

The desktop version of Thinkorswim is incredibly powerful but can be overwhelming for beginners. The interface is highly customizable, allowing users to create personalized workspaces with multiple tabs, charts, and tools. The learning curve is steep, but the platform rewards users who invest time in mastering its features.

Mobile Application

Mobile Trading: The Thinkorswim mobile app provides excellent functionality for trading on the go, though some advanced features are desktop-only.

Web Platform

TD Ameritrade also offers a simplified web platform for basic trading needs, but serious traders will want to use the full desktop application for access to all features.

Pros and Cons

Advantages

• Industry-leading options trading platform
• Completely free with no account minimums
• Advanced charting and technical analysis
• Excellent educational resources
• Professional-grade research tools
• Strong customer support
• Reliable execution and uptime
• Comprehensive screening tools

Disadvantages

• Steep learning curve for beginners
• Can be overwhelming with too many features
• No direct cryptocurrency trading
• Options contracts have fees
• Resource-intensive desktop application
• Limited international market access
• Complex interface may intimidate new users

Comparison with Competitors

Thinkorswim vs Interactive Brokers

Interactive Brokers offers lower costs for high-volume traders and better international market access, but Thinkorswim provides superior user experience and educational resources. For options trading specifically, Thinkorswim has the edge in terms of tools and interface design.

Thinkorswim vs TradingView

While TradingView excels in charting and social features, Thinkorswim provides direct broker integration and superior options trading tools. TradingView is better for analysis, while Thinkorswim is better for execution.

Thinkorswim vs E*TRADE

E*TRADE offers a more beginner-friendly interface, but Thinkorswim provides significantly more advanced tools and features. For serious traders, especially those interested in options, Thinkorswim is the clear winner.

Educational Resources

One of Thinkorswim's strongest features is its educational content:

• Comprehensive video tutorials and webinars
• Interactive courses on trading strategies
• Paper trading environment for practice
• Regular market analysis and commentary
• Options education specifically tailored to the platform

Getting Started with Thinkorswim

Step 1: Open a TD Ameritrade Account

Create a free TD Ameritrade account online with no minimum deposit required.

Step 2: Download the Platform

Install the Thinkorswim desktop application and mobile app from TD Ameritrade's website.

Step 3: Complete the Tutorial

Take advantage of the built-in tutorials and educational resources to learn the platform.

Step 4: Practice with Paper Trading

Use the paper trading feature to practice strategies without risking real money.

Step 5: Start with Simple Strategies

Begin with basic stock trades before moving to more complex options strategies.

Who Should Use Thinkorswim?

Best For:

• Active options traders
• Experienced stock traders
• Users who want advanced charting tools
• Traders who value educational resources
• Those who need comprehensive research tools
• Futures and forex traders

Not Ideal For:

• Complete beginners to trading
• Cryptocurrency-focused traders (consider our Bitcoin price analysis instead)
• Users who prefer simple, basic interfaces
• International traders needing global market access
• Those who primarily buy and hold investments

Value Assessment

Thinkorswim offers exceptional value by providing professional-grade trading tools completely free. The platform would easily justify a monthly subscription fee, making it an outstanding deal for serious traders.

Cryptocurrency Considerations

While Thinkorswim doesn't offer direct cryptocurrency trading, it does provide analysis tools for crypto-related securities like Bitcoin futures and cryptocurrency ETFs. For direct crypto trading, you'll need to use dedicated cryptocurrency exchanges alongside Thinkorswim for traditional market analysis.

If you're interested in cryptocurrency investing, consider exploring our guides on understanding cryptocurrency basics and making money from crypto to complement your traditional trading activities.

Final Verdict

Thinkorswim stands as one of the most powerful and comprehensive trading platforms available to retail investors. Its combination of advanced features, professional-grade tools, and zero cost makes it an exceptional choice for serious traders, particularly those focused on options trading.

The platform's main weakness is its complexity, which can be overwhelming for beginners. However, for traders willing to invest time in learning the system, Thinkorswim provides tools that rival those used by professional traders on Wall Street.

If you're an active trader, especially one interested in options strategies, Thinkorswim is hard to beat. The combination of powerful tools, excellent education, and zero platform fees makes it a standout choice in the competitive brokerage landscape.

Thinkorswim Review 2025: Complete TD Ameritrade Platform Analysis