Cryptocurrencies, especially bitcoin, are the 21st century’s most marvelous invention ever. Nowadays its popularity has risen and people want to know more and more about it. The traders enjoy the profits either owning the currency directly or turning to future markets.
Wondering how you can buy or sell cryptocurrencies? Well, the traditional brokers offer a vast selection of investable securities however you cannot trade bitcoin directly. it is available only for the future. The crypto exchanges are limited to digital currencies. Use this tool to convert Satoshi to Bitcoin and your currencies.
This article will only focus on the TD Ameritrade broker.
What is TD Ameritrade?
Today TD Ameritrade is famously known to be the best full services broker on the market whose services do not solely rely on traditional stocks and bonds. TD Ameritrade has expanded its services by offering bitcoin futures as well. It does not allow direct trading in digital currency. To start the bitcoin futures it is necessary to meet the account minimum.
TD Ameritrade is working on a very good platform known as thinkorswim. It consists of many advanced features, from which option traders, stock and ETF traders, and penny stocks can earn many benefits. For beginners, this software can be a little hard to understand. Let us take a quick look at the services provided by the program. By the time you finish reading, you will get a good idea about TD Ameritrade brokers and their worthiness,
What good is thinkorswim for penny stocks day trading?
As a trader, you will come along with several beneficial features on thinkorswim. It consists of hundreds of technical studies that can later become a part of equity price history. There are many tools available here, some of which are Projection Oscillator, Ease of Movement, and Aroon Indicator.
Best drawing tools are also a part of the TD Ameritrade platform. trend lines, Fibonacci time extensions, arrows, text boxes, and regression lines are some of the best tools you can find. The thinkorswim order entry system is a bit more complex than others but it is a steady one for sure.
To start an order, right-click on the chart and proceed to select buy or sell from the drop-down menu. On this program, you can also buy customs and sell customs. However, these are for more advanced order types like the order cancels, etc.
TD Ameritrade does not charge any extra fee for penny stocks, large size orders, OTC BB, and Pink sheets stock trades. It implies the $0 commission on all the trades mentioned above.
Is thinkorswim beneficial for option traders?
The option hackers look for derivatives built on the inputs that can easily be selected from a dropdown list. These include implied volume, delta, expiration days, and % of in or out of the money. You can also select the Fundamental data of the underlying stock for instance, data regarding the company’s cash flow or debt-to-capital ratio.
To reduce the search engine result, you can set different ranges for all input variables. By using the stock or option characteristics you can also sort out the call and put options result in either ascending or descending. With this feature, the investigation. of complex order like the vertices and diagonals has also become convenient.
The process for submitting an order on thinkorswim is also a piece of cake. Look at the far right side of the screen, right-click on the menu icon there. You are allowed to select the opposite side of the trade as well.
TD Ameritrade offers the most advanced trading tools like no other platform. You will not find a single brokerage housing that offers as advanced options tools as thinkorswim.
Is thinkorswim user-friendly for beginners?
TD Ameritrade does not recommend thinkorswim to beginners because of its complex features. It rather recommends trade architects whose features are simple and convenient for all beginners. Regardless of its simplicity, it consists of all the basic and necessary tools, and also it uses an adobe flash player.
Bottom line
TD Ameritrade is one of the best brokers you can find these days. Not only do they offer the best trading means but also their tools vary according to the type of investor you are.
