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Thinkorswim is a very technologically advanced options trading platform owned by the big name broker TD Ameritrade. While you can do everything you would expect from a regular trading platform here it's really tailored towards investors who know what they are doing with options and want to execute complex automated strategies. However, Thinkorswim are also really good at providing helpful educational material for new investors.
If you are a new investor we would recommend heading straight to the educational section of the thinkorswim web site. Here you will find some excellent material to help you learn more about the financial markets and how to invest. If you work your way through this lot, by the end you should be comfortable with all the market jargon that can be thrown at you and might even be thinking about coming up with some options strategies yourself. In case it's not enough though, Thinkorswim also organise regular live seminars that you can go to for free to network and improve your investment skills.
The tools Thinkorswim offers for trading are truly state of the art and pack in an astounding number of features. The flagship offering is a downloadable desktop application that runs on Windows or Mac operating systems. This lets you check out live charts and streaming data and use the various analysis tools to help you make decisions on trades to execute. The same functionality is on offer through the web based tools which have the added benefit of being accessible from any web browser wherever you happen to be. Thinkorswim really stands head and shoulders above the competition when it comes to programming strategies. The unique drag and drop interface makes it easy to plan and execute complex automated strategies without the need to learn any scripting languages.
Thinkorswim takes a one-size-fits-all strategy when it comes to commissions and fees. No matter how many trades you make it's always the same fees so, while this is great for people who don't trade too often, regular traders might be put off as there is no discount for volumes. Prices are quite reasonable though, especially when you consider the quality of the trading tools provided. It's also completely free to make use of the virtual trading tools which let you place trades on live market data but with virtual currency to test how well your skills are progressing.
Thinkorswim is an excellent quality trading platforms and has won a number of respectable awards since it started over 10 years ago. The novel features in the tools on offer make it especially worthwhile for anyone interested in options trading, but other types of investors will find it very easy to use too. At the moment there is a tempting introductory offer for signing up for an account so we suggest having a look right away.
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