Hello traders welcome to another thinkorswim article. Today we will learn about most confusing question for a thinkorswim beginner, what is the difference between thinkorswim & td ameritrade? This question often confuse beginners because both products are somewhere related to each other. So many people want to know is there any difference? Then my friend, yes there is a big difference between thinkorswim & td ameritrade. Let’s see what are they & how they are different from each other.
Difference Between TD Ameritrade & Thinkorswim:
We will start this article with TD Ameritrade then well will learn about thinkorswim. The reason is that TD Ameritrade is a parent company of thinkorswim so we need to learn about parent company first only then we can understand their tools & products.
TD Ameritrade is one of the larger online brokers in the United States, that provides you an electronic trading platform for the trade of financial assets. It includes online stock trading and investing, as well as retirement planning products and services. This company was founded in 1971. It’s currently based in Omaha, Nebraska & some of their major trading centers is situated in Southlake, Texas and St Louis, Missouri. On this platform you get wide range of investment options, Invest for the long-term, open a retirement account, build a portfolio with low trading fees etc.
TD Ameritrade website is well optimized for desktop as well as mobile users. So you can easily access your account dashboard & see account details, balances, balance history, positions, news, and more. They also offer some powerful trading tools & real-time streaming data to trade equities, options, futures, options on futures, and forex.
TD Ameritrade is a parent company of Thinkorswim, that means thinkorswim is nothing but a tool or product offered by TD Ameritrade company. This tool was previously offered by ThinkorSwim Group, Inc., which was purchased by TD Ameritrade in 2009. It is a desktop platform which means you will have to download & install it on your Mac, Windows 10 or Linux. But now most of the features of thinkorswim is also available on their mobile application. I’ve already written an article on how to download & install thinkorswim for PC & Mobile please check it here. This tool is completely free for all TD Ameritrade customers so you just need an account to start trading with thinkorswim.
On thinkorswim platform, you get premium features, including real-time data streaming, more than 400 technical studies and advanced charting tools. So it can be complicated for those who are not familiar with advanced trading platform. Thinkorswim also offers paperMoney practice account to trade $100,000 virtual money risk-free.
So the final conclusion is that Thinkorswim is just a product offered by TD Ameritrade & both these platforms are developed by same company. I would say If anyone wants to start trading then thinkorswim platform will be great for them. I’ve already described features of thinkorswim in our last post so make sure you read them. If you have more questions related to thinkorswim then please comment below & let us know.