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thinkorswim Web: Streamlined Stock, Futures, Forex, and Options Trading

thinkorswim Web is the TD Ameritrade streamlined, web-based options trading platform that lets you trade wherever you have an internet connection.

https://tickertapecdn.tdameritrade.com/assets/images/pages/md/Trade options anywhere with thinkorswim Web
5 min read
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Key Takeaways

  • thinkorswim Web is the latest trading platform from TD Ameritrade

  • Learn the key features of this web-based trading platform 

  • Understand how to analyze and trade with thinkorswim Web

As a trader, you have many things to think about—go long or short an equity, different strategies to apply, different option chains to analyze, and more. Whatever you're trading, to keep track of everything, you may need to become familiar with a trading platform to access trading features such as charts and chart studies and to keep an eye on important variables like volatility, probability, the different greeks, the impact of time, and so on.

The good news: you have different platforms to choose from. The thinkorswim® desktop trading platform from TD Ameritrade has all the bells and whistles necessary for trading stocks, options, futures, and forex. And if you need to be away from your desk, there’s thinkorswim Mobile, which allows you to analyze trades, place trades, track positions, and access charts from your mobile device. Now there’s a new kid on the block: thinkorswim Web, which TD Ameritrade launched on May 27, 2020.

From its name, you may have guessed that it’s a web-based platform, which means there’s no need to download anything. You can log in and trade from any device with a supported web browser. We’re talking anything from e-readers and screen readers to netbooks, mobile devices, and laptops. Since the application is powered by thinkorswim, you get the full power of an advanced trading platform and its many features plus a streamlined workflow. The bottom line: You get a trading process that’s simplified and fast.

Accessing thinkorswim Web

Use a supported browser and type in thinkorswim.com to quickly access thinkorswim Web using your same TD Ameritrade log-in credentials. For a trader, fast is key and thinkorswim Web makes this a reality for traders who’re looking for a web-based solution. 

You’ll get a taste of this from the default screen, which is divided into three main sections: Account Summary, Watchlist, and All Account Positions. An additional trade page will display when you select a ticker.

The account summary is where you can see your account information. If privacy is a concern, the eye icon allows you to hide your account-specific information on the screen. This section also allows you to switch to paperMoney®, thinkorswim’s virtual stock market simulator. 

Time to Play

A good starting point is to bring up one of your watchlists and select any stock symbol. An additional window will display the details of the security you selected plus a price chart. Thinking of trading the stock? You could place the trade directly from here. And if you want to analyze the stock before hitting the buy or sell button, you could add chart studies such as moving averages and RSI to the price chart.

If you're considering trading options on the stock, expand the Option Chain to see the different expirations (see figure 1).

Default screen for thinkorswim Web
FIGURE 1: DEFAULT SCREEN. After you log in using your account credentials, you can access your account info, watchlists, quote details, options data, and the status of your positions. Image source: the thinkorswim Web platform from TD Ameritrade. For illustrative purposes only.

Then expand any expirations listed on the Option Chain to analyze the various strike prices. Below the Option Chain is the trade ticket window. 

There are a couple of different ways to place a trade:

  • Select the strikes from the Option Chain
  • Select one of the default choices—option trade, covered stock, vertical, iron condor, or use the menu under Strategy
  • Manually build the legs of an options trade by starting with +Option Trade

The software has integrated trading and analysis. Once you select a strategy, you’ll see the risk profile displayed next to the price chart (see figure 2). 

Trading on thinkorswim Web
FIGURE 2: TRADING ON THINKORSWIM WEB. When you build an options strategy on the trade ticket window, you’ll see the related price chart and risk profile. Examining the two charts side by side can help you visualize your max loss, break-even point, and max profit. Image source: the thinkorswim Web platform from TD Ameritrade. For illustrative purposes only.

thinkorswim Web utilizes dynamic spread recognition so whether you build a strategy or select a default, thinkorswim Web will recognize and display the risk profile next to the price chart. Here’s what’s interesting. When you place your cursor on any price bar on the chart, you can see the estimated profit & loss on the risk profile. It works the other way too. If you place the cursor on an area in the risk profile that’s profitable, you can see where the price of the underlying needs to move toward. And if you roll positions, you can see your profit & loss profile after you roll the position.

If you’re comfortable placing the trade, select the Review button, which will show you the cost of the trade, your resulting buying power for stocks and options, and the buying power effect. Order confirmation is dynamic so as you change the number of contracts you want to trade, you'll see how much your buying power and cost will change. When you’re ready to place the trade, hit Send and wait for the trade to get filled. If the trade is executed, it’ll be added to the account position window. You can keep track of open positions on any device, because they all sync up. 

And thinkorswim Web is not limited to trading stocks and options. You can also trade futures and forex (with appropriate account approvals).

Stay Tuned …

thinkorswim Web is still in its early stages and under active development. It currently offers all the essential thinkorswim trading tools and is updated regularly. With thinkorswim Web you can enjoy having your thinkorswim wherever you are, whenever you need it. 

Options involve risks and are not suitable for all investors. Trading privileges subject to TD Ameritrade review and approval. Not all clients will qualify. Multiple-leg strategies carry additional risks and transaction costs. 

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Key Takeaways

  • thinkorswim Web is the latest trading platform from TD Ameritrade

  • Learn the key features of this web-based trading platform 

  • Understand how to analyze and trade with thinkorswim Web

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Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.

Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.

Futures and futures options trading is speculative and is not suitable for all investors. Please read the Risk Disclosure for Futures and Options prior to trading futures products.

Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. Please read the Forex Risk Disclosure prior to trading forex products. 

Futures and forex accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Futures, futures options, and forex trading services provided by TD Ameritrade Futures & Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify. Forex accounts are not available to residents of Ohio or Arizona.

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Market volatility, volume, and system availability may delay account access and trade executions.

Past performance of a security or strategy does not guarantee future results or success.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.

Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.

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