Thinkorswim is the trading platform of TD Ameritrade, one of the biggest US-based stockbrokers. Consequently, Thinkorswim in and of itself is not a standalone broker. As a result, this comparison provides insights primarily into the pros and cons of Tastyworks' trading platform and TD Ameritrade’s trading platform. When we describe other aspects, like the account opening process or customer service, the name Thinkorswim refers to TD Ameritrade.
In a nutshell, the tastyworks web platform is great for experienced traders, especially for options trading, while thinkorswim offers a good web trading platform with a clean design.
Common pros of tastyworks and thinkorswim
The platforms offer a safe, two-step authentication for certain important functions
Both are available in web, mobile and desktop versions
Common cons of tastyworks and thinkorswim
Limited customizability of the charts and the workspace
Availability only in a few languages: tastyworks is available in English, while thinkorswim is available in English and Chinese.
|Fees score||4.3 stars||4.2 stars|
|Account opening score||5.0 stars||3.7 stars|
|Deposit and withdrawal score||1.9 stars||1.9 stars|
|Web platform score||3.4 stars||4.3 stars|
|Markets and products score||3.1 stars||3.7 stars|
The difference in the overall score of the two brokers is not substantial and in terms of fees as well as depositing / withdrawing money, both tastyworks and thinkorwsim (TD Ameritrade) score low.
However, it’s much easier to open an account with tastyworks. This is because TD Ameritrade may ask you to confirm your identity by mailing or faxing a copy of your ID documents, while at tastyworks the account opening is fully digital. But once you open your account, the functions and features of the Thinkorswim (TD Ameritrade) platforms rank significantly better.