If you’re looking for an automated forex trading platform, thinkorswim is a solid choice. The software includes a variety of tools that make it easy to trade. You can also view news, trade statistics, and watchlists. It even allows you to create your own custom trading screens.
Thinkorswim allows you to trade on more than 70 currency pairs, including Bitcoin. You can use up to 50:1 leverage and trade in thousands of base units (0.1 lot). The software includes commission-free trading, which means that there’s no commission to pay. You also have the option of choosing market spreads, which can vary according to volatility.
Thinkorswim’s pricing model is similar to that of most other brokerages. There’s no monthly fee, but you may have to pay a fee for trading in foreign stocks or options. You can also choose between standard, mini, and micro lots. A standard lot is equal to 100,000 units, while a mini lot is equal to ten thousand units. For micro lots, you can trade in as little as 1,000 units.
Thinkorswim is a powerful forex trading platform from TD Ameritrade. It combines the functions of a broker and an investment fund into one. Whether you’re new to the industry, or looking to diversify your portfolio, thinkorswim is a solid choice. If you don’t have any trading experience, you can practice on thinkorswim by trading using paper money.
Thinkorswim’s platform offers advanced charting, multiple order types, and a huge selection of assets. Its focus is on active traders, so it offers more tools than for the average investor. It also features a community of traders. Its myTrade blog lets you read and share thoughts with other users, and it also tracks social sentiment.
In addition to forex, thinkorswim offers stocks, ETFs, and futures. Its desktop and mobile apps are suitable for beginners and experienced traders. Its live streaming video service is another attractive feature. Traders can even access live news and TV shows on thinkorswim.
There are a variety of risks associated with forex trading. These risks can range from account delays to system failures. Prices may change rapidly. In addition, prices are not guaranteed to be the same as the quote you entered at the time of your order. In addition, the larger your order is, the more chances you have of experiencing delays in execution.
As with any other investment, there are fees associated with forex trading. Some brokerages charge a trading commission based on the volume and value of the trade. Others charge non-trading fees, such as when you make a deposit or withdraw money from your account. In addition to commission fees, they may also charge for other services. TD Ameritrade offers general customer service 24 hours a day. It also offers forex specialists and specialized assistance.