This broker has been taken over by TD Ameritrade, but their legacy lives on in the platform they built that is still available from TD Ameritrade. The founders of Thinkorswim have also started a new trading related project called Tasty Trade, an amazing and free and high quality financial news and entertainment network focused on trading options.
The creators of Thinkorswim love technology and technical options trading. And it shows in the software they created. Although they are no longer involved in the development of the current versions, on the whole it is one of the best pieces of options trading software available on the market today. And there are ofcourse the many tutorials on the Thinkorswim site under “Option School” and daily interactive educational chat sessions under “Swim Lessons” in the main menu.
thinkDesktop is the software you can install on your computer to trade with them. A very technical piece of options trading software that will fully satisfy any options trader. Although it does take some time and effort to learn and get used to, as it is quite radically different from other platforms you might be used to. And Tasty Trade uses this platform to teach options trading, so you can learn from the creators and experts of the software themselves in several free video series dedicated it.
webBasedTrading is the website on which you can trade with them. A similar platform to their desktop platform (thinkDekstop), but missing some features that are only available to desktop software client. This platform does however easily lets you trade from behind a firewall that might be present at your office.
Paper Trading Platform
paperMoney is the way to try out all their platforms. It is their demo account and paper trading platform in one. Although it is a bit more cumbersome than some other platforms that offer easy switching between live and demo accounts in the same application, it definitely beats many other platforms. Especially ones specifically built for options trading.
The paper trading gives you a demo margin account and a demo IRA account. Both have been funded with $100,000 to trade with without any risk to your own money, so you can use it to start learning to trade options or you can use it to learn to trade with their specific options trading platform.
The current minimum account funding is $50 for almost all types of accounts. Which makes it a very low point to enter trading with them. But if you want to do any kind of options trading or have the availability of a margin on your account the account balance has to be at least $2,000. Again, this is not a high point of entry and makes this broker extremely suited for beginning traders.
Trading stock with them will costs you $9.99 per trade.