ThinkOrSwim

*Est. $9.95 per trade

Reviewed

March 2011

Best for active traders

Pros

Flat-rate commissions
Great mobile access
Three free mutual fund trades per month
Cutting-edge trading technology

Cons

Not great for international traders
More bells and whistles than some might want
Takes $3,500 to open an account

Where to Buy

Our Analysis

Thinkorswim is geared to frequent traders, but it offers flat-rate commissions no matter how many trades you make. Thinkorswim has four trading platforms that make it possible to access your account from virtually any mobile device, including your cell phone. Reviewers say its education and research are outstanding, and the trading platforms, though complex, are easy to use. If you don't trade frequently and want a well-established broker, reviewers recommend Fidelity. Thinkorswim was acquired by TD Ameritrade in 2009, but the two brokers continue to operate separately, and reports say that ThinkOrSwim's positives remain unchanged.

We found the best review of thinkorswim in Barron's 2010 review of the top 22 online brokers. TopTenReviews.com has a review as well, and StockTradingtoGo.com offers a brief report.

Our Sources

1. Barron's

Barron's rates the top 22 online brokers; the resulting rankings and category ratings are summarized in a table. For the second year in a row, thinkorswim is ranked number one. Theresa W. Carey singles out the firm for "great customer service and a wide array of educational offerings" as well as its cutting-edge trading technology.

Review: Newest Trading Play: Screen Savings, Theresa W. Carey, March 10, 2010

2. TopTenReviews.com

TopTenReviews.com offers detailed reviews and ratings of 18 brokers; data about them are summarized in a comparison chart. The thinkorswim review says, "We like their casual approach to traditionally serious subjects and their inventive trading education tools, and we really like that they have embraced all things mobile."

Review: ThinkOrSwim Review, Editors of TopTenReviews.com

3. StockTradingToGo.com

Blain Reinkensmeyer ranks ThinkOrSwim second of the top five online brokers. He praises its high-ranking trading platform.

Review: 5 Top Online Stock Brokers, Blain Reinkensmeyer

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