thinkorswim is Available to Canadians
thinkorswim is available for new and existing Canadian customers as of 2022.
TD had discontinued the thinkorswim offering for new customers in the Spring of 2021 however has now opened it back up.
Not much is known as to why it was discontinued and is now being reinstated besides it being a ‘business decision’.
In speaking with a TD representative, they noted there was a lot of customer feedback and demand for the thinkorswim platform.
Opening a thinkorswim Account
- Call the number listed on the thinkorswim page (1-800-465-5463) which is a direct line and generally will get you to a customer representative very quickly.
- They are open 7 AM to 7 PM Monday to Friday.
- As an existing TD Direct Investing customer, expect the process of opening a thinkorswim account to take about 30 minutes.
- Both new and existing customers can open a thinkorswim account.
- A minimum account balance of $25,000 USD is required.
- It takes about 24 hours for activity on thinkorswim to sync up with WebBroker, but if you call them, they can update it immediately.
- There is a live chat support option through the thinkorswim software that goes to someone on the thinkorswim team, available during market hours.
What is thinkorswim?
thinkorswim is regularly praised by advanced options traders due to its capabilities and tools.
While the platform was always available to US customers, TD extended its availability to Canadian customers as part of the TD Direct Investing offering available to Canadians.
With a limited number of trading platform options in Canada, thinkorswim was a welcome addition for advanced traders.
thinkorswim was originally launched in 1999 by Tom Sosnoff and Scott Sheridan.
Over the years they grew rapidly and held sizable market share during years where technology and the internet were quickly evolving.
thinkorswim offers a robust, powerful suite of tools.
- Fully customizable platform
- Sophisticated, multi-leg option strategies
- Free real-time streaming data for US equity and option level 1 and 2 data
- Analyst upgrades and downgrades and live CNBC newsfeeds
- Paper money account available on the app
- Robust set of research and analytics features
Frequently Asked Questions
- Is thinkorswim available in Canada?
Yes, thinkorswim is now available in Canada.
- How much money do I need to open a thinkorswim account in Canada?
$25,000 USD minimum balance is required in each account.
- Can I use thinkorswim for free?
Yes, thinkorswim offers a free paperMoney® account available through both desktop and their smartphone app.
- Is thinkorswim good for beginners?
thinkorswim offers a robust feature set and many advanced features that most beginners will not be using at the onset of their trading activities, however, if you’re willing to learn the platform, it is very intuitive and powerful.