Skip to main content

Thinkorswim Canada Review

Phone1 (800) 669-3900
RegulationsSEC, FINRA, CFTC
Minimum Deposit$0

Thinkorswim platform by TD Ameritrade remains one of the best trading platforms, and continues to establish contacts with novice investors. In this TD Thinkorswim Canada review we discuss about TD Ameritrade and how to get Thinkorswim in Canada.


TD Ameritrade reaches out to customers and potential customers through its services built on various social media sites, including Twitter and Facebook. Once TD-Ameritrade was launched, it provided customers with a variety of platforms to choose from, including its basic website, mobile apps and thinkorswim. Thinkorswim is designed for active traders who specialize in derivatives.

KEY POINTS

  • The top broker and best stock trading app for US beginners.
  • Education is a key component of TD Ameritrade’s products.
  • The Thinkorswim Canada download has been disabled for Canadian traders, including a trading simulator.

Recommended Forex Brokers in Canada

What is TD Ameritrade?

TD Ameritrade is one of the top online trading brokers in the US. It offers various trading platforms for different professional levels. These broad educational products help new investors become more confident and encourage them to explore more asset classes as their skills grow. For active investors and traders, the Thinkorswim platform provides all the data, charts and tools needed to find market opportunities. The number of tools and research provided by TD Ameritrade can be unbearable.

Pros Explained

  • Customers can quickly access account details, balances, balance history, positions, news, and more on TD Ameritrade’s traditional website, which has been optimized for mobile browsers. Traders should be able to check the market and their account quickly with well-designed mobile applications, which provide them with a simple one-page experience.
  • The Thinkorswim downloadable platform’s toolset has been widely copied to the web. Customers can trade stocks, options, futures, futures options, and foreign exchange online using its powerful analysis tools and real-time streaming data. TD Ameritrade offers two versions of its platform in Traditional Chinese and Simplified Chinese to reflect its growing presence in Asia.
  • TD Ameritrade takes advantage of the geographic location advantage it gained when it acquired Scottrade a few years ago by offering in-person training in over 280 locations as well as multiple training channels on its website and mobile apps. In addition to on-demand content, the TD Ameritrade network offers 9 hours of live programming.
  • The real-time data stream on thinkorswim, websites and mobile apps is unlimited.

Cons Explained

  • To use their preferred tool, customers may need to use multiple platforms. On thinkorswim, there are many options-specific tools, but the majority of the basic research on stocks and fixed income tools is only available on the website. Large brokerages with multiple platforms frequently face this issue.
  • Customers of TD Ameritrade can choose from a variety of account types, which should be beneficial. This, however, may cause confusion for new investors who are unfamiliar with the terms.
  • The commission per transaction for over-the-counter (low-priced stocks) is $6.95.
  • The interest rate on uninvested cash is very low (0.01–0.05 percent) unless customers take action to transfer cash to money market funds.

TD Ameritrade Thinkorswim Usability

TD Ameritrade tries to make getting started easy, but the breadth of its products is the opposite in this respect. New customers can open accounts and provide funds for them on the website or mobile application. However, the tricky part is choosing the right account type, because TD Ameritrade has many options. Once you have the correct account type, all the “know your client” process required by brokers registered with the SEC becomes simple and easy to understand.

After setting, the navigation height depends on the platform you decide to use. On the website, the layout is simple and easy to follow because of the recent remodeling. There’s a customizable “dock” that displays the economic calendar data, account statistics and news. Each page will display “snap ticket”, allowing you to easily enter fast market or limit orders.

td ameritrade

The thinkorswim platform can be set according to your specific specifications, and you can easily access your most frequently used functions through tabs. The customization options on the website are limited, and on thinkorswim, you can specify everything from the tools on each page to the font used for the background color. Every aspect of transaction default can be set on thinkorswim. In contrast, the site does not allow you to exercise the same level of control over transaction defaults. Most customization options are stored in the cloud. So once you set them up, they will follow you from device to device.

The web version of thinkorswim includes real-time trading and papermoney, trading simulation, all asset classes available on the downloadable version, and all the same data sources and trading engines. Your watch list and dynamic watch list are the same. The biggest difference between the web and the desktop is that all available functions are concentrated in one view on the web instead of having many different tabs. The web version is not as comprehensive as desktop or native mobile applications, but will be built according to the requirements of customers for the most desired features.

thinkorswim chart

TD Ameritrade has native mobile apps for iOS and Android, as well as a mobile web experience that adjusts the screen size according to the device you are using. If you set up a watchlist on one platform, you can access it elsewhere. This is especially convenient for those who switch between standard websites and thinkorswim.

TD Ameritrade Trading Experience

You should use a well-organized two-level menu on your website for everything from brainstorming to arranging transactions. At the bottom of each screen is a transaction ticket, which you can separate and float in a separate window for easy access. To create a trading environment, charts can also be separated and floated, but this is a more involved process than what thinkorswim offers. When you float on a stock, quick buy and sell buttons appear, and you can click them to load the basic information into the transaction ticket.

You can go to an extended transaction ticket, which can be accessed by clicking, to send a conditional order. You can customize your screen on thinkorswim by adding your favorite tool and a transaction ticket. In most cases, the default layout is simple to use, and most traders are familiar with application drawing tools, technical indicators, and data visualization tools. Traders can use thinkScript, a built-in programming language, to create their own analysis tools in Thinkorswim.

On the web, you can customize the order type (market, limit, etc.), order quantity, order party (buy or sell) and tax batch method. With Thinkorswim, you can post orders on all platforms for future entry.

Mobile trade experience

The thinkorswim mobile platform provides a wide range of functions for active traders and investors. The workflow for stocks, futures and options is very powerful and intuitive. You will find many bells and whistles that make the mobile application a complete solution for most trading purposes, including the ability to stream real-time data and the ability to trade from charts. The formal mobile platform is almost identical in functionality to the website, so this is a simple transition.

thinkorswim platform

Trading Instruments

TD Ameritrade customers can trade various assets on the web platform, thinkorswim and mobile apps. TD Ameritrade does not support cryptocurrency trading, but you can trade CME Bitcoin futures. It is currently not possible to open positions with fractional stocks. In addition, investors can also trade:

  • Stock Long Short (TD) Ameritrade does not have a traditional easy-to-borrow list. TD pointed out that at any given time, there are more than 3000 types of securities available for short selling, while the availability in the order management system is the opposite.
  • Mutual funds (more than 1,900 unloaded, no transaction fees).
  • OTCBB (low-priced stocks).
  • Single leg and multiple leg options.
  • Bonds: corporate bonds, municipal bonds, treasury bills and CDs.
  • There are up to eight branches of trading, consisting of multiple asset classes (stocks, options, futures and foreign exchange); it can be designed on thinkorswim.
  • Futures and futures options.
  • You can access various international exchanges through real-time brokers.
  • Foreign exchange (75 pairs).
  • Robot consulting, TD Ameritrade’s basic portfolio , integrated into the website and mobile app. Provide additional recommended investment portfolios through financial advisors.

Order Type

TD Ameritrade customers can enter a variety of orders on the website and thinkorswim, including conditional orders, such as one canceling another and one triggering another. There are no order type restrictions on the mobile trading platform. Customers can post orders on all platforms for future entry.

If you have been buying a particular stock, you can choose the tax batch when you close part of your position, or you can choose to set the full account default value for the tax batch (such as average cost, last in first out, etc.). You can also set full account default values ​​for the following items: dividend reinvestment.

Education

TD Ameritrade sets high standards for trading and investment education. It offers a variety of educational modes, including real-time videos, recorded webinars, articles, courses including quizzes, and content organized by skill level. Most of the content is also available in Mandarin and Spanish. Through the use of artificial intelligence, the website can provide customers with a personalized experience and suggest content and next actions. In 2020, as new investors join the trading world, TD Ameritrade has added two new learning paths to meet the needs of beginner investors, including beginners in personal finance and investing in growth stocks.

The TD Ameritrade web show provides 9 hours of live video every day. The initial target of the network was advanced traders, but it has been expanded to provide new traders with a way to make their first step. You can view TDAN content on native apps for iOS, Android, Amazon Fire, and Roku.

customer service

  • Live chat support for TD Ameritrade Mobile trader app.
  • 24/7 telephone line.
  • Deploy chatbots on Twitter, Facebook Messenger, Apple Business Chat and WeChat (Asia).
  • TD Ameritrade support associates have the ability to track your trading platform and show you its features;
  • An excellent trading-related guide for Thinkorswim users.
  • Ask-Ted, a virtual customer service agent, provides automated support by answering customer questions and directing them to content on the site.

Safety

TD Ameritrade’s safety complies with industry standards:

  • The client can use biometric authentication (fingerprint and face recognition) for mobile application login.
  • TD Ameritrade’s security algorithm identifies the computer that the customer has accessed the account in the past;
  • TD Ameritrade provides each customer with security protection worth US$149.5 million and cash protection of US$2 million through supplementary insurance provided by the London Insurance Company;

Conclusion

TD Ameritrade’s multiple platforms enable research and trading to facilitate the majority of investors and traders. Newer investors can go all the way along this chain. When they encounter new methods and asset classes in the process of receiving financial education, they will adopt new methods and asset classes. Traders and active investors will enjoy the functions of the Thinkorswim platform, including the ability to create custom indicators and share asset screening in the wider community;

FAQs

Is Thinkorswim available in Canada?

No, Thinkorswim no longer accept new Canadian clients.

Is Thinkorswim download free?

Yes, ThinkorSwim trading platform is available for download free of charge.

Can I use Thinkorswim in Canada?

Yes, if you use a VPN or log in using an old account.

How to get Thinkorswim in Canada?

The only option is using a VPN although this might be a risky way.

No reviews yet


Got a question or an opinion for this article? Share it with us!

Your email address will not be published. Required fields are marked *