Learn more I know this is an old post, but how big is the spread difference with oand? One thing to keep in mind is that they don’t offer lot sizes smaller than a mini (1000 units). 2. thinkorswim. User account menu. I love TOS and use it for stock trading as well so I was glad to not have to learn a new platform and I definitely prefer TOS to MT4, which of course they do not offer. Could I get your experiences w the platform for FX trading? Press question mark to learn the rest of the keyboard shortcuts. Welcome to FXGears.com's Reddit Forex Trading Community! The only thing I would say is that they don’t have the tightest spreads out there, but they are not bad either. As for the spreads, it depends on the pair and time of day of course, but it’s usually no wider than 2 pips on average. Commission free usually means brokers offer larger bid/ask spreads. I use TD Ameritrade with Thinkorswim for forex and have not had an issue. A comprehensive guide to everything thinkorswim. Powered by Discourse, best viewed with JavaScript enabled. Is this too good to be true? We cover trading setups, trading strategies, fundamental and technical analysis … Press J to jump to the feed. Does anyone have a good reason for a US resident to [I]NOT[/I] use TD Ameritrade as their broker, and Thinkorswim as their platform? @Themadinvestor is correct on everything he said. I've traded commission free through other brokers, though I haven't traded fx through TDA. You get tighter spreads with that model, but you pay commission of .10 per 1000 units with a $1 minimum. We also received several industry awards, "Trader App" (TD Ameritrade Mobile Trader, 4 years in a row), "Trader Community" (5 years in a row) and "Desktop Platform" (thinkorswim®) (8 years in a row). Additionally, I did search up that the FX data may be 'second-hand', but was unable to get a clearer picture of what that really means. Four reasons to trade forex with TD Ameritrade. log in sign up. Basically, you use commission free pairs for smaller buys and commissioned pairs for larger buys. Are there brokers that charge commission on execution regardless of order size? ThinkOrSwim has paper trading on everything: stocks, options, futures, forex, etc. No hidden fees . Thinkorswim is a leading platform when it comes to … I’m a trader employed by TD and everything that he said is true. Not that much. Unfortunately, the forex landscape has diminished in the US. (both is very rare, though), no commission = spread, some pairs can go up to 5 pips, its up to you, because those spreads can be a risk into your trade. The #1 trading app accolade applies to thinkorswim mobile―also known as TD Ameritrade Mobile Trader. Press J to jump to the feed. However,I found out that there were some pairs which TOS allows you to trade commission free! ---- Hope this helps, There's always a cost to trading, and you're going to pay through either commission or spread markups or both! thinkorswim Web. Their non-commission model doesn’t allow lot sizes smaller than 10,000 units and only allows increments of 10,000 units. r/Forex. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat. That being said, if you plan on paper trading first, be sure to get them to turn on live quotes on your platform. They give me an average price on the chart, but when I put a trade, they execute with real bid and ask prices. That’s not the beef I have with Oanda. Im not on my pc so can’t explain how to do it on a pc, but on a tablet I can change it here ( the blue shows icons ive clicked to get here ). Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! If you want to trade smaller or in smaller increments, you will have to use the commission model. The only thing I would say is that they don’t have the tightest spreads out there, but they are not bad either. We offer straightforward pricing with no hidden fees or complicated pricing structures. It basically comes down to account size and flexibility. I’m on mobile most of the time. Commission free pairs have a higher spread (difference between ask and bid is greater) and commissioned pairs have smaller spreads. For FX, it seems rather limited compared to other platforms. Futures and futures options trading is speculative and is not suitable for all investors. I use TOS over 5 years and it’s very interesting platform with paper trading on currencies, futures, options and stocks. I believe thinkorswim does have paper trading, not sure if it’s just stocks or forex as well. Press question mark to learn the rest of the keyboard shortcuts. The smallest increment you can trade in is 1000 units and that is only on their commission model. I use the non-commission model personally. Commission-free FX trading with thinkorswim - pros and cons? The smallest increment you can trade in is 1000 units and that is only on their commission model. If you don’t mind trading larger and don’t need small increments, then the non commission model is better. how wide we talking on spreads? Depending on how much capital you work with, it is more cost effective to pay a flat fee per trade. I was able to set up forex with TD ameritrade with only a few grand. You can change the screen view so it shows average or ask or bid price. Cant be as bad as oanda…and is there any way to have instant execution or bridge MT4? 7. 7. Please read the following risk disclosure before considering the trading of this product: Forex Risk Disclosure. I don’t like their prices. I’ve missed entries and exits because of this. I also remember reading that you need a minimum $500,000 deposit to open a forex account with TD, don’t quote me on this however. I’ve resorted to adding a few pips extra to my actual entries, exits and s/l, but this is cutting my profit a lot. New comments cannot be posted and votes cannot be cast. I checked out the research features, and they seem pretty neat for options and futures. The spreads are wider than the commission model, but since there is no commission, most of the time I find both models to come out close to the same. Does TD Ameritrade offer demo trading on their accounts? /r/Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. One thing to keep in mind is that they don’t offer lot sizes smaller than a mini (1000 units). Posted by. We also have one of the largest forex chatrooms online! Our provider is Gain. Keep in mind, if you live in AZ or OH you will not be able to use TDA to trade Forex. Thinkorswim has over 100 commission-free ETFs, over 13,000 mutual funds, over 100 forex currency pairs, options, and futures on a variety of products; indices, metals, cereals, energy, and other commodities at its clients' disposal. The latest addition to the thinkorswim suite, this web-based software features a streamlined trading experience. That is what residents of those states have said in this forum at least. Please read the Risk Disclosure for Futures and Options prior to trading futures products. Obviously they vary across pairs and at certain times, but so does everyone else I’ve used. I use Oanda and their spreads don’t seem any different to other brokers I’ve used. I would like to start trading FX, but am not sure of the pros and cons of using TOS to do so (other than the FX research). thinkManual. Like free shipping, the price is just embedded in the product. Most fx brokers I've seen only charge commission based on the size of the order. Nothing is free. Getting Started Left Sidebar Monitor Trade Analyze Scan ... including multiple commissions, which may impact any potential return. btw need to know their slippage rate also. It's perfect for those who want to trade equities and derivatives while accessing essential tools from their everyday browser. With thinkorswim, you can access global forex charting packages, currency trading maps, global news squawks, and real-time breaking news from CNBC International, all from one integrated platform. I would avoid them if you plan on being a scalper or something like that. Forex investments are subject to counter-party risk, as there is no central clearing organization for these transactions. And I like it. I just want a candle stick chart with bid prices. r/Forex: /r/Forex is your forex trading community here on Reddit!! Many thanks. Close. I recently opened a TOS account. ---- I use TD Ameritrade with Thinkorswim for forex and have not had an issue. Thank you. The method you showed gives me a line chart. I think they are delayed be default. So that can be pretty expensive for a small account depending on your trading style. 1.

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