Business trends have gone global for social media users, why? Trading can help you understand the investment market more easily, the results are also different, and you can use trading for long-term and short-term investment needs.
However, not everyone can make the most of business investment. To be able to understand it, you can learn first to understand and minimize the damage. So far, you can easily learn how to use trading by downloading some platforms.
The following trading platforms will provide some tips related to the world of trading that you will follow later, now in this article we will discuss one of the trusted trading platforms that you can use to invest. Thinkorswim is an online stock trading platform recognized as one of the most innovative and advanced trading platforms on the market. Acquired by TD Ameritrade in 2009, Thinkorswim continues to grow into one of the world’s leading online trading platforms. In this article, we will discuss Thinkorswim in more detail, including the features, pros, and cons of the platform.
History of Thinkorswim
Thinkorswim was founded in 1999 by Tom Sosnoff and Scott Sheridan. The two entrepreneurs founded the company to give individual traders access to advanced and easy-to-use trading tools. At first, Thinkorswim only provided options trading services, but over time the company has evolved into an online stock trading platform that allows trading of a wide range of assets including stocks, ETFs, futures, and currencies.
In 2009, TD Ameritrade purchased Thinkorswim for $606 million. With Thinkorswim joining TD Ameritrade, the trading platform continued to grow and became one of the best online trading platforms in the world. Thinkorswim is now part of Charles Schwab after the company acquired TD Ameritrade in 2020.
Key features of Thinkorswim
Thinkorswim offers advanced charts that give investors and stock traders access to different types of charts and technical tools. You can choose from a variety of chart types, including bar charts, Japanese candlesticks, and Renko. You can also add technical indicators such as RSI, MACD, and Bollinger Bands to help you analyze trends and market forces.
Thinkorswim provides market analysis tools that allow investors and stock traders to research stocks based on specific criteria. You can choose from various filters such as price, volume, and technical indicators. Scans can be saved for later review.
Automated Trading Strategies
Thinkorswim offers trading automation tools that allow stock investors and traders to automate their trading strategies. You can program your strategies or use strategies that already exist on the platform. This can help speed up the transaction process and reduce human error.
Thinkorswim offers a variety of educational resources to help stock investors and traders learn more about trading and the stock market. You can access videos, articles, and webinars created by industry experts to help you understand more advanced trading concepts and strategies.
Thinkorswim allows users to open multiple windows on the same platform. This allows investors and stock traders to simultaneously track various stocks, technical indicators, and trading strategies.
Thinkorswim Features and Benefits
Thinkorswim is a trading platform that is listed as one of the official trading platforms in the world, where you can trade several assets such as Forex and Futures.
Thinkorswim is perfect for those of you who are just starting trading, but more than that it is also widely used by experienced traders. Thinkorswim uses high technology, always keeping up with global trade finance and financial stocks.
Thinkorswim is also one of the platforms with the best charts, if you are curious here are some other advantages of this Thinkorswim software, see below:
Did you know that Thinkorswim is listed as one of the best charting platforms? It even beats the graphics of Dark Cloud Cover and Three Black Crows. So you can use Thinkorswim with very sharp charts and amazing images.
Thinkorswim comes with the feature of being able to invest within a timeframe that you set, where you can choose to trade short-term or long-term. Everything can be customized to your liking.
You can download Thinkorswim and use it with more flexibility, in addition to being accessible to computers with Windows and MacOS operating systems, you can also use Thinkorswim easily on your mobile phone.
Free and easy access
You can access Thinkorswim very easily, you just need to download it on your PC and mobile phone, best of all, you will not be charged for registration. User interface
Thinkorswim comes with a very simple user interface. Thinkorswim has a simple but still great user interface with an excellent graphical display or representation. The graphics on this platform are the best compared to others.
Benefits of trading with Thinkorswim from TD Ameritrade:
- Access to the stock market with hundreds of instruments, including indices. Derivatives trading, OTC market participation, foreign exchange trading legal services.
- One of the world’s most functional platforms for stock trading with advanced multi-level chart analysis. – Two of the best regulatory bodies in the world authorize it.
- Optimal trading conditions for private assets.
- Account segregation.
Cons of Thinkorswim by TD Ameritrade:
- The broker only works with traders from the United States.
- The platform is difficult for new traders. – There is no FDIC (Federal Deposit Insurance Corporation, which would guarantee traders’ membership up to $250,000).
- A limited number of deposit/withdrawal options.
- High input threshold.
America’s best stock app
These are the best American stock apps, apart from Thinkorswim
One of the best apps for buying foreign stocks in 2023, it is an app released in 2018 and founded by former Alibaba Corp employees in Delaware, USA.
10 million people have downloaded the app for transactions such as selling and buying stocks.
Webull can also be your choice when looking for an offshore broker app.
The app is registered with the Securities and Exchange Commission (SEC)
For those of you who want to buy offshore stocks, this app can be an option to choose from. So far, more than 1 million users have downloaded this app from the play store and app store. Pluang is an app that can make it easier for you to buy foreign stocks when you have enough money.
The next best app for buying foreign stocks is TradingView.
This app offers quite comprehensive online trading functionality. If you download the app, you will experience many features such as real-time data, demo account services, comprehensive educational features, and investment tools.
Recommendations on American investment companies to buy the best stocks
For investors who want to try investing in overseas stocks. As long as the domestic stocks are of good quality, there is nothing wrong with trying to expand your investment to global stocks. It is now also very easy to invest by buying shares of foreign issuers because there are many trusted securities.
Here are some trusted international stocks that you can choose to buy foreign stocks from:
This UK securities company was founded in 2007 and operate in hundreds of countries, offering over 2,000 issuers for you to buy from. The minimum deposit is also very affordable, only $200 or equivalent to IDR 2.8 million.
Apart from stocks, you can also invest in forex, crypto, and exchange-traded funds (ETFs).
The company charges investors $5 for each withdrawal.
2. Saxo Bank
The next foreign investment company is Saxo Bank, which has been in operation since 1992.
You can utilize the services to buy and sell stocks, forex markets, bonds, and other assets.
However, this company is for those who are more serious about investing in foreign stocks.
Saxo Bank requires a minimum deposit of $3,000. In addition, customers pay an annual fee of 0.12-0.25%.
To withdraw money, customers have to pay 5 euros.
The closest investment company is TradeStation.
This company can be used to buy the best US stocks. This investment company does not charge fees to its clients who want to buy and sell stocks.
For your first deposit, you need to prepare US$ 2000 or IDR 29 million. TradeStation also offers trading in Forex, Crypto, Mutual Funds, Bonds, and ETFs.
You can also use GoTrade to buy stocks as it is among the best stock buying platforms. This Singapore-based company is known to operate in 150 countries.
This investment company is the most beginner-friendly. You only need to make your first deposit of $10.
You will not pay any fees, including buying or selling shares.
Investors are still entitled to dividends even if they have less than 1 lot of shares.
Best stock options brokers for beginners
Stock options trading is a risky investment, but it is attracting more and more attention from global traders. Simply put, stock options trading can be understood as buying and selling equity derivatives. However, the payment structure and trading methods can be quite complicated for beginners. Therefore, interested beginner traders should not join a stock options broker.
An options broker suitable for beginners should fulfill at least a few criteria. First, the minimum initial capital investment is low. Second, good analytical and portfolio management tools on the trading platform. Third, provide options trading training that is easy for beginners to understand. In addition, options brokers suitable for beginners should also have a relatively simple commission structure.
So, which stock options brokers are suitable for beginners? See below.
Interactive Brokers is known as one of the best stock options brokers for beginners because of four key advantages:
There is no minimum initial capital deposit; you can make a deposit depending on the price of the options contract you are interested in.
There are no per-trade fees, while the broker commission per contract is only 0.7 USD cents.
Plenty of educational material on stock options trading.
The Trader Workstation trading platform has a simple and easy-to-use interface. The mobile app can even be used with voice commands. In addition to these advantages, Interactive Brokers also have some disadvantages. Complaints indicate that the trading platform can only be opened on one device at a time. This means you can’t open the platform on your PC and mobile app at the same time. In addition, the broker “penalizes” passive traders by charging a minimum of 10 USD/month for accounts with balances less than 100,000 USD or paying commissions less than 10 USD/month.
TD Ameritrade offers several special perks for traders, including:
There is no minimum initial capital deposit; you can make a deposit depending on the price of the options contract you are interested in. The collection of teaching materials is diverse, ranging from basic Options articles, and video tutorials to live coaching. General trading materials are available for free on TDAmeritradeNetwork.com, while specialized stock options materials are integrated into the thinkorswim trading platform.
Practice stock options trading using the simulator.
The thinkorswim platform allows data to be sent to multiple utilities simultaneously. The platform also has comprehensive tools to help traders choose their preferred options trading strategy. Compared to Interactive Brokers, TD Ameritrade charges higher trading fees. There is a fee of 6.95 USD per transaction, plus a fee of 0.75 cents USD per contract. However, the collection of educational materials it provides is much richer and more complete than any stock options broker.
The media The Balance honors Charles Schwab as the best stock options trading platform provider for beginners (new traders), especially for its impeccable customer service. In addition, this stock options broker offers:
Excellent research results and educational materials specifically designed to help traders develop from the ground up. The platform also presents trade ideas that can be executed instantly.
StreetSmart’s trading platform is easy to use for investing and trading various asset classes via the desktop, website, and mobile devices.
However, beginner traders with limited pockets should think twice before joining Charles Schwab. With the minimum initial capital deposit for trading standing at 1000 USD. There is also a 0.95 USD fee per transaction and a 0.65 USD cents fee per contract. One last thing to keep in mind when entering this business:
You should avoid brokers with complicated fee structures and excessively high starting capital. Practice first using a simple and inexpensive broker platform. Once you get the hang of it, go out to look for brokers that offer complex trading platforms that charge higher transaction fees. Remember that trading is a high-risk activity, and the risk can only be reduced by learning and practicing stock options trading as much as possible.
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