thinkorswim Singapore

TD Ameritrade’s Thinkorswim Singapore Review: Is It For You?

Finding the best investment platform might not get you rich immediately, but it is an excellent step in the right direction. Once you find the best way to trade, you will eventually make the best trade decisions that will help you monitor the markets easily. 

If you are interested in the US markets, the TD Ameritrade thinkorswim platform is the go-to for you. With the platform, you will access US ETFs, online stock, futures,mutual funds and options. It is well designed for novice traders as well. 

The Thinkorswim platform was voted as the Most Preferred Platforms at the 2019 ShareInvestor Awards, and TD Ameritrade won the Most Engaging Financial Company during the same time. Here is all you need to know about the platform if you want to start your investment journey. Read more on how to invest in singapore stocks.

What is TD Ameritrade?

The platform is among the most prominent US brokers and is regulated by the Monetary Authority of Singapore. The platform is open to Singapore investors interested in US equities. 

TD Ameritrade uses the Thinkorswim platform designed for serious traders and the mobile version that allows beginner investors to trade and stay connected to the market while on the go.

 

Why Invest with TD Ameritrade?

TD Ameritrade caters for traders with a variety of trading experiences. It offers a wealth of education, including live-in-platform and online demonstrations where users learn to use the power of the thinkorswim platform and help you execute different trading strategies at low fees.

The platform also provides credible, accessible knowledge support through email, phone, online, and in person. All users have access to financial advisors that specialize in trading US equities.

TD Ameritrade is regulated by the Monetary Authority of Singapore and is a subsidiary of TD Ameritrade Holding Corp has been in the investment business for the past 40 years. TD Ameritrade Holding Corporation is also a wholly-owned subsidiary of the Charles Schwab Corporation.

What are the Pros and Cons of Having a TD Ameritrade Account?

The Pros

  • Different help channels
  • Low fees and very competitive pricing
  • Great educational resources
  • Beginner-friendly trading platform

The Cons

  • The platform does not offer a demo account
  • Limited account funding methods when compared to other brokerage accounts. 

What is TD Ameritrade’s Thinkorswim Platform?

TD Ameritrade Thinkorswim platform was designed for investors in Singapore who would want to trade in US equities. The platform allows you to trade in the US markets even with the considerable time difference. It will enable you to trade 24 hours five days a week and help you pre program your buy or sell orders for the following day.

Thinkorswim has the mobile and the desktop version, so you can easily trade from the comfort of your home or while you are on the go. You also have the option of accessing the platform through the mobile browser without downloading the app.

view stock broker trading online

Benefits 

Like many trading platforms available in Singapore, thinkorswim gives you access to fundamental data, research, tools, and charts, among other educational resources that will help you refine your trading strategy and help you pick your preferred stock easily and with low fees. Thinkorswim has advanced third-party research reports, interactive charting, trade scanners, a profitability analysis tool, and a market heat map.

The platform also offers a comprehensive guide on navigating thinkorswim on the app and has directions on how to trade exchange-listed stocks. Thinkorswim is great for beginner traders, especially for its trade stimulator called PaperMoney that allows beginners to execute mock trades with up to S$100,000 worth of play money. 

If you run into any problem with the platform, you can visit the TD Ameritrade platform in Singapore during weekdays at 6823 2250 or WhatsApp customer service at +1 855 281 8383. You can also access their customer service through in-app chat support.

Key Features

1. Product Access

Exchange Listed Stocks, ETFs, Options, Futures/Forex, complex options, mutual funds, CFD trading.

2. Standard Features

Alerts, Customizable web features, screeners, chat support, Apple business chat, transaction history.

3. Advanced Features

Conditional orders, level II quotes, TD Ameritrade Network and CNBC streaming, virtual positioning, strategy roller, PaperMoney Virtual Trading.

4. Idea Generation

Third-party research, market option heat map.

System Compatibility

Web browser, mobile app, desktop.

Vs. Other Trading Platforms

Classic Web Platform Our online trading platform has the tools and resources you need to invest with confidence. Our innovative products and features are bundled together to help you manage your portfolio more efficiently and invest smarter.
Next-Gen Web Platform Building on the intelligent features of our classic platform, our mobile-optimized web platform makes it easy to check your account value, research potential investments, and confidently place trades on your phone, tablet or desktop.
TD Ameritrade Mobile Never miss a potential opportunity with the companion app to our Classic Web Platform. Get the essentials you need to manage your accounts and investments with this simple, straightforward, and easy-to-use app.
thinkorswim® web  

Use our streamlined thinkorswim experience to chart analysis, trade securities, and derivatives quickly, preconfigure trades, and easily learn new techniques—all from your standard web browser.

thinkorswim® desktop Explore our most advanced trading platform featuring elite-level tools and sophisticated analytical resources for idea generation, strategy testing, and efficient trade execution.
thinkorswim® mobile Trade with all the power and features of the thinkorswim desktop in the palm of your hand. Analyze market movements and trade products quickly and securely on a platform optimized for phones and tablets.

Is Trading in TD Ameritrade for You?

If you are an investor in Singapore and are interested in trading US derivatives, the TD Ameritrade thinkorswim is for you. It is the leading brokerage firm that offers a wide range of American ETFs and stocks. 

Singapore investors can easily invest in big tech companies such as Apple, Google, or Amazon with no hassles. Please note that tech stocks are pretty volatile, but you can capitalize on their market volatility or margin debit balances and stand a chance to make a lot of money.

It is also fast to create an individual or a joint account on the platform.It takes less than 20minutes.

Why Does Thinkorswim Stand Out?

Thinkorswim is a great platform for first-time investors looking for a cheap way to start their investment journey as it doesn’t have an inactivity fee. The platform offers extensive educational resources to help you gain trading confidence as you continue to invest. 

It is essential to keep in mind that you are subject to transfer fees when you transfer money from one brokerage firm to another, but you will be exempted only if you transfer more than USD3,500 every time with no exercise or assignment fees or inactivity fee.

Thinkorswim is entirely customizable and offers experienced traders a chance to tweak it to their needs. It also offers new clients a steep learning curve. TD Ameritrade can be your secondary account if you want access to the US markets on top of your regular brokerage firms that offer Singapore equities on their portfolio.

Should I Use Thinkorswim in Trading on TD Ameritrade?

Here are the benefits of trading on TD Ameritrade:

Beginner-Friendly Platform

TD Ameritrade Thinkorswim is a trading platform recognized by investors as one of the best for beginner investors. It is available in three versions, including web, desktop, and mobile, which offers an easy way to trade US equities. It was voted as the most preferred platform at the INVEST fair 2019. All thinkorswim versions are rich in capabilities and features to help you execute trades even while you are on the go.

The platform also can filter the stocks that you want. It is easy to customize options trading since all your trades are saved on the cloud; hence easy to follow across different devices. In addition, it offers the Essential Portfolio, a beginner-friendly feature that is great for investors who want to take advantage of portfolio management with other brokerage houses.

Various Help Channels

The platform offers different help channels if their customers run into any problem. The firm offers different channels such as 24/7 telephone support, email, and WhatsApp support. The website also has a comprehensive FAQ section with up to date information that covers almost all the questions you might have for them.

Outstanding Educational Resources

Another perk of beginners here. TD Ameritrade offers an outstanding selection of educational resources for anyone looking to expand their investment knowledge. The educational resources come in different forms, including articles, webinars, quizzes, and courses. All the content is well organized according to your skill level, allowing you to learn at your pace.

You can read the articles and watch the educational videos at your leisure. You also have access to TD Ameritrade, which offers structured investing education. 

The firm also has its news studio, which features trading knowledge and analysis directly from professional advisors. TD Ameritrade does not offer a demo account but has a virtual trading feature where you can test out your trading hypothesis to help sharpen your results. This can be helpful when trading CFDs. 

Has Popular Trading Instruments

The platform does not offer the most extensive trading features, but it does have the most popular ones. You will have access to more than 5,000 securities listed across the US markets. There are also more than 50 future products and a wide range of options and CFD trading.

stock market graph financial data

Related Questions

What Type of Products Can I Trade with TD Ameritrade Singapore?

TD Ameritrade facilitates the trading of US Exchange-listed ETFs, equity shares, and all the listed index and equity options. You may also have the opportunity to trade futures after opening a margin account.

What is a Margin Account, and How Does It Work?

A margin account allows investors to borrow money from their brokerage firm to purchase securities on credit and borrow from the marginal securities that are already in the account. The loan terms will require the securities you have in your account to qualify as collateral for your loan. Further, the interest is charged on the borrowed funds during the period the loan goes unpaid.

Investors who want to open a margin account must first deposit cash and eligible securities that value more thanUS$2,000. This amount serves as the collateral for the said loan.

What are Regulatory Fees?

Regulatory fees are charged on certain transactions that may include the following:

  • Sales fee of a sell transaction; assessed at a rate consistent with Section 31 of the Securities and Exchange Act of 1934.
  • Options regulatory fee.

Will TD Ameritrade Give Trading Advice?

No.

TD Ameritrade Singapore is a brokerage firm and not a financial advisor. All information provided by any representative of the platform is for educational purposes only.

What is Limited Trading Authorization?

LTA or limited trade authorization allows the account holder to nominate a person to place trades on their account. The first will require you to give official approval to grant another person access to your account.

Will I Have to Pay Goods and Services Tax (GST)?

Yes.

TD Ameritrade in Singapore will charge GST on applicable commissions and fees at a prevailing rate.

What is Forex? Can I Trade Forex with TD Ameritrade Singapore?

Foreign currency exchange, FX, Forex, Currency trading, and CT all refer to the Over the Counter (OTC) global currency market where the physical currency is traded and exchanged. However, TD Ameritrade in Singapore does not offer the services of this writing.

Conclusion

TD Ameritrade’s Thinkorswim is best suited for beginner traders. It is available on browser, desktop, and as an app and stores all its information on the cloud, meaning you can access your account from any device. The platform also offers the lowest fees for Singapore residents who want to trade in US derivatives.

Key Takeaways

  • Thinkorswim is great for beginner traders with interest in US derivatives.
  • The platform does not require a minimum funding amount, but it is recommended to start with at least US$3,500 of initial deposit.
  • Thinkorswim is available for both mobile and desktop.
  • Its stock holding type is a custodian account.

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