TD Ameritrade is currently my favorite options brokerage. When I first started using the platform, I was a bit put off because of its apparent complexity. However, it didn’t take long to get adjusted to the basic features and iron forex web trader review learn some of the more complex capabilities of the platform.
I am so spoiled by the ease in which I can analyze potential trades, enter trades, and monitor trades that I have a hard time using any other platform. I’m guessing Forex traders would say they aren’t the best platform, but they’ve come a long way since they added this capability. The thing that puts thinkorswim head and shoulders above the rest of the crowd in my opinion is their commitment to ensuring their customer’s ongoing success. They do this in a variety of ways, including continuous roll outs of new platform features, weekly webcasts featuring a variety of speakers to talk about market trends, trading techniques, portfolio management, etc. The one thing that has impressed me about their web platform is how feature rich it is. I’ve been used to suffering with the typical limitations found in most web-based interfaces.
The web interface models the Java-based platform such that functions I’m familiar with on the Java platform are largely available on the web platform AND can be done in very much the same way no new learning curve. The Blackberry application has been recently been overhauled and has become a much richer interface. In addition the development team has been busy creating a whole new Web-based application, which is currently in beta. This one is a clear departure from the more typical web interface.
We’ll have to wait a little longer to see how this one compares. Let’s look at each of these for the thinkorswim platform. Tools for researching trades I typically trade ETF and Index based options so I don’t have a lot of requirement for stock research. They even have a proprietary ‘sizzle’ index, which is a way of assessing how hot the stock or ETF is based on puts and calls traded. Another feature for searching out options strategies is pretty cool. This tool, called the Spread Hacker, allows you to search for what other traders are trading. For example, I might search for other Iron Condor trades on the SPY and come up with a list of other outstanding orders traders have placed.
I can then choose one I like and with a single click create a duplicate trade. A new feature to the platform comes from the TD Ameritrade Option 360 platform and is the very cool heatmap. P 500 and drill into sectors that are either unusually strong or weak. It can be a nice place to look for stocks or even sector ETFs to trade options on. In addition, they do have some particularly powerful tools for monitoring stocks, ETFs or indices that I am interested in.