Think or Swim bought by TD Ameritrade

  • Posted: 08 January 2009 11:08 AM

    I’m a little nervous about this.

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  • Posted: 08 January 2009 12:55 PM #1

    Here is the meat of a letter from Tom Sosnoff.  Like lumi, I am leery that this will not be good.

    We’ve been going strong for almost a full decade now, delivering what we believe is the best trading platform and service in the industry. As a small company, we’ve gone through some major changes in that time, and view all of them as positive for our clients. It was only a matter of time until a larger company recognized us as a great value. We want to let you know that TD AMERITRADE has agreed to buy thinkorswim and make our trading platform available to their customers. They are impressed by our trading know-how, technological edge and commitment to make each customer a smarter trader. That’s what we bring to the table. Once the deal is completed, you?ll have access to TD AMERITRADE?s range of features, such as:
    24/7 client account service in addition to our continuing thinkorswim support.
    Extensive independent research and web-based investment tools.
    A nationwide branch network, strong balance sheet and better cash management tools and tax software features.
    A broad range of investment products, including an expanded mutual fund list and expanded bond and Treasury offerings.
    Together, we hope to deliver more educational content, further enhance our trading platforms, and be a leading provider of brokerage services. TD AMERITRADE will work to leverage thinkorswim?s capabilities, and Scott Sheridan and I will continue to lead thinkorswim through the close of the deal, and will then manage the active trading platforms for the combined company. You will continue to get the same, great trading software and support from your favorite Swimmers.

         
  • Posted: 08 January 2009 02:15 PM #2

    My take is that they will increase commissions and might compromise TOS trading platform since they plan to integrate TD’s platform.

    I checked out the TOS chat rooms and everyone is upset and a lot of traders will definitely (according to there reaction) jump ship and leave and take their accounts somewhere else.

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    Posted: 08 January 2009 02:28 PM #3

    Sounds worrying i have been lurking on TOS for some time AC yet to be funded,
    and have always appreciated there efforts to integrate the Mac Platform.
    I was trying to decide between Fidelity on Kiwi’s recommendation and TOS.

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    Lieutenant Dan got me invested in some kind of fruit company…

         
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    Posted: 08 January 2009 07:41 PM #4

    Having moved from E*TRADE to TOS, I am now very underwhelmed by this development. I will be seriously pissed if the service is degraded or the charges go up.

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
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    Posted: 08 January 2009 07:55 PM #5

    Is TOS considered the best Trading Platform for Mac based trading?
    To be honest even tho I have been doing this for a while I wonder if TOS is designed more for the TA and Options folks of which I am most definitely not. And my current Brokerage has no realtime charting and configuration set-ups that TOS does.

    perhaps am answering my own question….

    Was on a bit earlier with Fidelity and they seemed to imply that there online service did not have realtime charts? which did not make any sense…

    any thoughts appreciated.

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    Lieutenant Dan got me invested in some kind of fruit company…

         
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    Posted: 08 January 2009 08:05 PM #6

    Although TOS is aimed at options traders, I only trade stocks on it. You can also trade futures and forex with TOS. ThinkDesktop does have a lot of features aimed at technical traders, with more and more things being added all the time. I’ve even written several indicators (or studies) using their thinkScript language.

    I used to use E*TRADE and found their package could get very sluggish in a fast market, although TOS is not immune to that. Also E*TRADE lacked a lot of more common indicators.

    As long as TDA keep very hands off then I will be happy.

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
  • Posted: 08 January 2009 08:09 PM #7

    I’ve been impressed with their frequent software upgrades . I wonder how much pressure will stay on development.

         
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    Posted: 08 January 2009 09:42 PM #8

    wheeles - 09 January 2009 12:05 AM

    Although TOS is aimed at options traders, I only trade stocks on it. You can also trade futures and forex with TOS. ThinkDesktop does have a lot of features aimed at technical traders, with more and more things being added all the time. I’ve even written several indicators (or studies) using their thinkScript language.

    I used to use E*TRADE and found their package could get very sluggish in a fast market, although TOS is not immune to that. Also E*TRADE lacked a lot of more common indicators.

    As long as TDA keep very hands off then I will be happy.

    Talking with other traders live I’ve noticed every Java-based trading platform frequently lags real time.

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  • Posted: 13 January 2009 01:24 PM #9

    I’m currently a client of TD Ameritrade and quite happy with the service and excellent customer support. 

    In the past I had looked at TOS after hearing great things about it on AFB.  But, I had been disappointed when I saw the pricing at TOS, which seemed rather high.  How much do people actually pay at TOS for their trades?

    As a TD Ameritrade client, I’m looking forward to the integration of TOS’s active trader tools.

    Sorry for the TOS users that are disappointed!  I hope this ends up being good for you!!

         
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    Posted: 13 January 2009 02:30 PM #10

    ApplecoreD - 13 January 2009 05:24 PM

    As a TD Ameritrade client, I’m looking forward to the integration of TOS’s active trader tools.

    It’s worth noting that if you place trades using Active Trader, then your orders go direct to ARCA and you end up paying a per share fee rather than a flat rate.

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
  • Posted: 03 September 2009 01:25 PM #11

    Interesting blog as I am an Investools student just about ready to fund my TOS accnt.
    If I may… slightly off topic and technical.
    My TOS has been running well on my dual 1.25Mhz DT running X10.4.11 for months then after an Java and QT update last Thurs My TOS quit loading.  The Start Icon in the Dock would flash 2-3 times then shutdown.  Have any of of Mac/TOS users been confronted with this issue.  TOS is stumped.  I even tried refreshing the OS on a copy of my main drive but to no avail.  Fortunately I backed up in July but a solution would be helpful.
    Thanks

         
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    Posted: 03 September 2009 09:07 PM #12

    Im currently using TOS on my iMac, with the Snow Lepoard update, with no problems.

    It gives me an error message about getting the newest “Java” which i do have installed { this only started with the installation on Monday of SL OSX, so I imagine that glitch will be fixed } but it works just FINE, and I’m still learning the program, which is ONE MASSIVE PLATFORM indeed.

    Oh, it is now FREE for all Ameritrade customers, if you have an APEX account { someone who does a fair amount of trading }.

    https://www.thinkorswim.com/tos/displayPage.tos?webpage=clientApplication&displayFormat=hide

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    “Even in the worst of times, someone turns a profit. . ” —#162 Ferengi: Rules of Acquisition

         
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    Posted: 30 April 2010 04:51 PM #13

    Does some of you are used to do Wire Transfers with TOS?

    When you do that, do you received a mail, with “Your thinkorswim account - Urgent and Time Sensitive” as a subject line, asking you to confirm it?

         
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    Posted: 30 April 2010 05:08 PM #14

    Tullio - 30 April 2010 07:51 PM

    Does some of you are used to do Wire Transfers with TOS?

    When you do that, do you received a mail, with “Your thinkorswim account - Urgent and Time Sensitive” as a subject line, asking you to confirm it?

    I do wire transfers. I fill out the form and submit it. I then get an email telling me that I’ve submitted a wire transfer request. I have not been asked to confirm it in the past via email and I did one just the other day.

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
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    Posted: 30 April 2010 05:08 PM #15

    Tullio - 30 April 2010 07:51 PM

    Does some of you are used to do Wire Transfers with TOS?

    When you do that, do you received a mail, with “Your thinkorswim account - Urgent and Time Sensitive” as a subject line, asking you to confirm it?

    if they suspect a problem of any kind, yes.

    Do so, otherwise the wire won’t go out.

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    “Even in the worst of times, someone turns a profit. . ” —#162 Ferengi: Rules of Acquisition