Thinkorswim by TD Ameritrade Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Thinkorswim by TD Ameritrade trading signals. You will learn what kinds of trading signals Thinkorswim by TD Ameritrade offers and what the conditions for using them are.
Short introduction of Thinkorswim by TD Ameritrade
TD Ameritrade’s Thinkorswim broker is a result of the unification of Thinkorswim and TD Ameritrade, the developers of the best platform for stock trading in the US. Its main focus is trading securities, the OTC securities market, spot instruments, and retail foreign exchange trading in the US. The company was nominated for: "Best Platforms and Tools", "Best Application for Traders", for being among the Top 5 in the ratings, "Best Innovative Developments", and "Best Broker for Options Trading". Since 2009, the company’s reliability has been confirmed by the licenses from two of the most stringent regulators in the world, FINRA (CRD#: 7870/SEC#: 801-60469,8-23395), and SIPC.
| 💰 Account currency: | USD |
| 🚀 Minimum deposit: | From $0 (from $2,000 to activate margin trading opportunities) |
| ⚖️ Leverage: | Floating |
| 💱 Spread: | from 0.00 points |
| 🔧 Instruments: | Over 70 currency pairs |
| 💹 Margin Call / Stop Out: | Stop out - 25% |
Thinkorswim by TD Ameritrade Pros and Cons
👍 Advantages of trading with Thinkorswim by TD Ameritrade:
•Access to stock exchange markets with hundreds of instruments, including indices. Derivatives trading, entry into the OTC market, legal services of currency trading in Forex.
•One of the most functional platforms in the world for trading securities with multi-level complex chart analyses.
•Two of the world's best regulators license it.
•Optimal trading conditions for individual assets.
•Segregated accounts.
👎 Disadvantages of Thinkorswim by TD Ameritrade:
•The broker works only with traders from the USA.
•The platform is difficult for novice traders.
•There is no membership in the FDIC (Federal Deposit Insurance Corporation, which would ensure traders' money up to $250 thousand).
•A limited number of deposit/withdrawal options.
•High entry threshold.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
-
Copy trading.
-
Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Thinkorswim by TD Ameritrade Trading Signals
Trader’s Union experts examined Thinkorswim’s platform and conditions looking for hidden fees on Forex market assets (pricing for stock instruments was not considered). The Union found that its billing is transparent and there are no hidden fees. The type of order processing complies with the ECN standard, but there is no commission for each lot held on the account which is a significant competitive advantage.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard (Forex) | 1.2$ | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Thinkorswim by TD Ameritrade does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.