It may not be that popular, but it provides amazing services in Singapore. Thinkorswim is an online trading platform that brings valuable experience for traders from different groups. With its limited product range, it may make it better for you to focus on one thing.
In this Thinkorswim Singapore review, we will share how it brings value to you and what are the things that you need to be careful about.
Thinkorswim as a glance
Thinkorswim is a TD Ameritrade online trading platform. Different online brokerages are known for different qualities and Thinkorswim is known for its low-cost operation. Unlike many other platforms, Thinkorswim focuses on a specific range of trading products which is the reason why most traders who trade on Thinkorswim mostly succeed. Thinkorswim feels very attractive and fascinating at a glance.
However, there are things about it that you need to be very careful about for having good trading starting as well as long-term experience. So, below is our Thinkorswim Singapore review with everything that you need to know.
Who is Thinkorswim for?
One trading platform can never be feasible for everyone because some different qualities and features bring different values. So, if you are a person who likes to trade in different markets with different products then Thinkorswim may not be the best choice for you. On the other hand, some traders are only looking for the lowest fee options and they like to trade or invest in only a few types of products.
Thinkorswim is a platform made for such people. This is also the reason for the wide success of Thinkorswim across different parts of the world. Thinkorswim mainly focuses on these two groups of people”
Beginners
Beginners usually need more training experience and tools to help them through the process. So, Thinkorswim brings educational resources as well as trading opportunities for beginners. The properMoney trading feature that works like demo trade also helps beginners to gain the experience they need the most.
Experts
Expert traders are looking for more in-depth experience. So, Thinkorswim comes with trading options and tools that offer customizations. So, with these advanced features and tools for trading, experts can get access to sophisticated data that helps in making informed decisions.
Thinkorswim is also a good option for people who want to trade on the go because its application allows them to trade with a single tap.
What we like about it?
- Thinkorswim is an award-winning trading platform specifically for beginner-trading experience
- There are a lot of support channels available on Thinkorswim to help beginners
- The educational resources and tools at Thinkorswim focus on both beginners and experts to enhance their trading experience
- One of the biggest benefits is low fees because of competitive pricing
What we do not like about it
- A demo account is not available
- There are not a lot of ways available to fund your account
How does Thinkorswim work?
The working of Thinkorswim is pretty simple with it only providing 4 trading or investment products. Those 4 are:
- Stocks
- Futures
- Options
- EFTs
The availability of only 4 options for trading makes its working pretty straightforward. All you have to do is to select which one you are willing to go with and proceed with the trade. The benefit of having this less amount of trading options is that traders can focus on specific options and gain better expertise.
Ways by which Thinkorswim brings value to you
Any Thinkorswim review cannot be complete without considering the ways by which it offers the best value. So, here are some of the things that Thinkorswim brings which are the most valuable for traders.
Best for beginners
The first valuable thing about Thinkorswim is that it is one of the best trading platforms for beginners. It has won awards for that and to make things even better it brings an intuitive user experience. This is done with the help of a web interface that is made to work on desktop computers and a mobile application that makes trading on the go easy.
With Thinkorswim beginners can have a clear trading experience.
Filtering feature
There is a unique feature that allows traders to filter things as they want. In this way, the trading options can be customized for a better personal experience. The best thing is that any settings you make are saved on the cloud of Thinkorswim.
So, you do not have to set things differently on a different device. One thing you do becomes a standard for any device with your account.
Amazing customer support
Another way that makes Thinkorswim an exceptional platform for beginners is its amazing customer support. It provides support in the following ways:
- Telephone
Interestingly the call support is available 24/7 and there is a FAQ section as well that can help you solve most of your queries without even contacting the support team.
Good investing knowledge
Thinkorswim comes with good knowledge and educational resources for investment and trading. So, regardless of the experience that you have in trading, you can learn lots of different things. These resources include articles, courses, and webinars. If you want to test things out, you can also go for quizzes.
Attractive fee structure
When you use Thinkorswim as your trading platform you do not have to worry about things like deposit and withdrawal fees. Moreover, there are no withdrawal limits meaning you can get as many withdrawals as you want for free.
Additionally, there are no inactivity charges which makes it an even better option. However, you need to check the commissions as they vary from trades and trading products.
Final Verdict
One of the most important things that every trader must know how to do is to select the right platform. Selecting the right trading platform resolves a lot of issues even before you face them. When we talk about Thinkorswim we get a lot of plus points. However, there are things like minimum balance requirements that you need to be careful about.
So, when you make your final decision about Thinkorswim, make sure that you are considering every detail that we were discussing in our Thinkorswim review.
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