thinkorswim Stock Brokerage Review
thinkorswim was rated number 1 online broker for 2009 by Barron’s, and I am not surprised. Every single trader I have come across, with an account, is absolutely in love with the service. Hey, if you are new to stock trading, then thinkorswim even has free paper trading for you.
The discount broker is known for its great educational resources and trading tools. You can usually find some sort of free live seminar hosted by thinkorswim.
thinkorswim tools
One of the major advantages for thinkorswim are their powerful tools, which allow you to trade anywhere from a computer to your phone. There are 4 tools (all are free with your account):
- think Desktop – software-based platform
- Web-based trading
- think Anywhere – trade from your pda device
- think Mobile – mini-browser for your cell phone
With thinkorswim you can trade stocks, options, mutual funds, bonds, ETFs, and mortgage-backed securities. There are also various retirement and education saving plans, but you might want to look else where for these options.
thinkorswim pricing
- $9.95 per stock trade (5000 shares max) or $.015 per share (500 min)
- $500 account minimum
- Standard option rate – $2.95 per contract or $1.50 per contract $9.95
Unlike the other brokers for active traders that we will be looking at, thinkorswim probably has the highest rates; however, there are many promotions that aim at giving you money back:
- $50 per new customer referral
- Replenish up to $100 on any transfer fees
- They will rebate the cost of internet if you make 40+ trades in a month
- 3 complimentary mutual fund trades per month
- Get a free TOS monkey when you fund your account
In short, thinkorswim is really a great choice for any type of trader. There are so many tools and options available to you that you almost couldn’t go wrong with this brokerage.
- For those looking to enter the stock market, take a second to download my free guide to entering the stock market.
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