Is thinkorswim a Scam? Is thinkorswim Safe and Legitimate Broker? Is thinkorswim Account Free and Insured?

Is thinkorswim a Scam?

thinkorswim is a highly-developed trading platform provided by TD Ameritrade. Investors might have some questions about thinkorswim, so let's try to address some of these concerns.

First question some people ask "Is thinkorswim a Scam?". Rest assured thinkorswim is definitely not a scam. It is a legitimate trading platform for TD Ameritrade clients. In fact, the platform has won awards for both the desktop version and the mobile format. Many investors use thinkorswim for their daily trading activities. With the strength and reliability of TD Ameritrade supporting it, there is no cause for concern.

Is thinkorswim a Safe and Legitimate Firm?

TD Ameritrade, the operator of thinkorswim, is a safe and legitimate broker. It has been in the securities industry since 1983. It has 12 million of client accounts and over a $1.32 trillion in assets under management. It's hard to get more genuine than that.

The financial publication Barron's awarded the broker with several honors. The broker was ranked #1 for portfolio analysis and reports, #1 for long-term investors (two years in a row), #1 for usability, #1 for novice investors (five years in a row), and #1 for research amenities (two years in a row). It's hard to find another broker with a better grade from Barron's.

Other organizations have also reviewed the broker favorably. The financial organization Corporate Insight awarded TD Ameritrade three Gold rankings. The prizes were for online help, investor education (5 years in a row), and news and research. TD Ameritrade has also won awards from Technical Analysis of Stocks & Commodities. It was ranked #1 for options trading systems, #1 for online analytical platforms, and #1 for options analysis software.

Is thinkorswim FDIC/SIPC Insured?

TD Ameritrade is a broker that is registered and insured with SIPC. Like all other brokerage firms, it is not a bank, and is therefore not FDIC insured. All securities in a TD Ameritrade brokerage account are insured by the SIPC up to $500,000.

There is a cash management account at TD Ameritrade that is FDIC insured. In fact, the balance of the account is deposited in up to two banks, doubling the standard FDIC insurance of $250,000 to $500,000. This cash management account is separate from the securities account, which is governed by SIPC rules.

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Is thinkorswim Free?

There is no charge to use thinkorswim in either desktop or mobile app format. TD Ameritrade is one of the few brokers to offer its advanced platform free of charge. Other brokers, such as Merrill Edge, Fidelity, and E*Trade, maintain frequent trader requirements or charge a monthly fee for use of their advanced trading system. Some brokers don't have an advanced platform like thinkorswim. Vanguard, for example, does not offer any software besides its website.

Is thinkorswim Scam

thinkorswim BBB (Better Business Bureau) Rating and Reviews

TD Ameritrade has a rating of A+ from the Better Business Bureau. This score is on a scale from A+ to F, so it's the best possible ranking. Factors that affect a company's score include how long the firm has been in business, how transparent BBB thinks the company is, the number of grievances filed with BBB against the company, whether BBB thinks the company responded appropriately to the complaint, and any government actions against the business.

The brokerage firm has been accredited by BBB since 1990. In order for a business to be accredited, BBB must find that it is transparent, honors promises, safeguards privacy, builds trust, uses honest advertising, is responsive, and embodies integrity.

One review on the BBB website expressed concern that the thinkorswim program may lock up and therefore delay quotes and orders. Other users of the software have not experienced such technical glitches. The application is routinely updated by TD Ameritrade.

The thinkorswim Platform

thinkorswim comes in two versions: a desktop application and a mobile app. Both formats are very advanced compared to what other brokers offer. Charting, for example, is very sophisticated in both versions. thinkorswim also has futures and forex trading. In comparison, the advanced platforms of Schwab and Fidelity do not offer forex and futures trading. Additionally, both formats of thinkorswim offer paperMoney, a practice platform that allows users to practice the software before committing real money.

Is thinkorswim Safe

Is thinkorswim a Scam Summary

TD Ameritrade's thinkorswim platform is one of the best trading applications in the industry. The fact that the broker doesn't charge a fee for it or require frequent trading status is incredible. The current promotion is a perfect opportunity to take the software for a test drive free of charge.

thinkorswim Incentive

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