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Is Thinkorswim a good Platform for Futures Trading?
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Is Thinkorswim a good Platform for Futures Trading?

  #61 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Favorite Futures: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
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heywally View Post
Also, you can set all of your cash sweeps to go to an FDIC insured bank account if you like. In addition to the trading community via TOS, they have a core of "buy/hold" accounts that makes me a bit more comfortable re the amount of risk they are encouraging/allowing and what would happen in a big sell-off.

An update - re IRA's specifically, TOS has changed their rules on allowing FDIC insured cash sweeps so that if you are designated as a 'pattern day trader' (and even if you have the requisite 25K in your account), you can only opt for the SPIC insured sweeps. Also, TD/TOS is no longer (at least for now) allowing new IRA's to trade futures. More restrictive but okay for me as I've altered my trading style to a hybrid swing/day trade approach with equities/ETF's only in the IRA's. Since I want the FDIC insured sweeps and not the SPIC ones, and I have a scale in-scale out approach anyway, I just won't do day trades in the IRA's.

Won't fit everyone's approach but is another 'symptom' of why I feel fairly comfortable with TD's business model.

"The Future Ain't what it used to be"
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  #62 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,022 since Jul 2011
Thanks: 2,211 given, 1,542 received

range chart futures trading on TOS & MAC OSX

Just some info on TDAmeritrade ThinkOrSwim on MAC OSX and mobiles:

latest TOS info at TDAmeritrade:
https://www.tdameritrade.com/tradingtools/thinkorswim.html

iPad too
https://www.tdameritrade.com/tradingtools/ipadapp.html

ThinkOrSwim also works well on MAC osx and many versions of Linux, as they have java versions, web versions. And mobile versions for iphones, blackberry, android, etc.. Can trade/daytrade futures,forex (alternately forex by commission instead of spread), stocks, options, funds, bonds, options on some futures, pairs, etc anything offered through TDAmeritrade. Works exactly the same on Linux too. (I tried Ubuntu and Red Hat.) TOS has been greatly supported by TDAmeritrade and upgraded in the last year. I find myself enjoying it more and more and just wanted to share the enthusiasm at least as an alternative broker/platform.

https://mediaserver.thinkorswim.com/installer/install.html
https://www.thinkorswim.com/tos/displayPage.tos?webpage=iSwim&displayFormat=hide&tab=pocketPC

Screen cap of TOS working on MAC OSX 10.6+ attached. Trading CL on 4 range. (after hours, so not showing volume, depth and timeofsales). bunch of "studies"/indicators included or script your own for bag of osci junkies

Attached Thumbnails
Is Thinkorswim a good Platform for Futures Trading?-tos-mac.jpg  
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  #63 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,022 since Jul 2011
Thanks: 2,211 given, 1,542 received


more screenshots of forex and mini-futures on TOS

Attached Thumbnails
Is Thinkorswim a good Platform for Futures Trading?-forexfutures1_tos.jpg   Is Thinkorswim a good Platform for Futures Trading?-commission_based_forex.jpg  

Last edited by Cloudy; July 18th, 2012 at 09:25 PM.
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  #64 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
Thanks: 52 given, 59 received

Hi,

What is the costs trading with TDAmeritrade.

Is it competitive compare with Mirus, AMP, Optimus?

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  #65 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
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They start you out at 3.50 each way. Unless you are HFT or have a ton of cash you will be
in the 3.50 class. Once you stick with them for a while they will lower it. I pay 2.50 each way.
I only make a few trades a day and usually no more than 6 contracts.
Sometimes none. Maybe if you just ask them right off the bat they will lower if for you.
I know when it was just TOS and not TDA they were very negotiable.
I will probably try to get mine lowered to 2.25 soon.

Psychology > Strategy ≥ Money
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  #66 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,022 since Jul 2011
Thanks: 2,211 given, 1,542 received

What Massive said for futures. cost of Forex by commission is $2.00 round trip. No fees if by spread.
https://www.tdameritrade.com/pricing.html

Mirus via RCG is at $4.20 round trip. (exclusive of exchange fees and NFA)

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  #67 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
Platform: TOS, TS & MC
Broker/Data: TDA & TS
Favorite Futures: Stock, Options and now Futures (ES)
 
TonyB's Avatar
 
Posts: 514 since Dec 2010
Thanks: 227 given, 134 received

Like Massive l, I too am at 5 bucks RT (ES, all inclusive). Not great, but works for me as I have virtually everything at TDA...

I might add that I asked before I even went live about lowering the commission, and they did, to 3 dollars each way. Pretty cool. I'm not a fat cat, but do have several accounts there... And, after my first month of trading (think newbie, over-trading), I asked for lower, and got the 2.50 each way. I figured that I might as well ask for the lowered commission after such a month... Glad that I did. Since that time, I've averaged just a handful of trades a week.

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  #68 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
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TonyB View Post
Like Massive l, I too am at 5 bucks RT (ES, all inclusive). Not great, but works for me as I have virtually everything at TDA...

I might add that I asked before I even went live about lowering the commission, and they did, to 3 dollars each way. Pretty cool. I'm not a fat cat, but do have several accounts there... And, after my first month of trading (think newbie, over-trading), I asked for lower, and got the 2.50 each way. I figured that I might as well ask for the lowered commission after such a month... Glad that I did. Since that time, I've averaged just a handful of trades a week.

That include platform fees, data, routing etc?

3.50 round trip or per side?


Last edited by torroray; July 19th, 2012 at 12:16 AM. Reason: additional question
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  #69 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
Thanks: 52 given, 59 received

Hi,

Do they provide the same $500 intraday margin like AMP, Mirus?

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  #70 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,022 since Jul 2011
Thanks: 2,211 given, 1,542 received


Hi,

Futures on TOS is about 4k margin per contract. I'd never traded more than 2 contracts on TOS. I mostly do options on TOS, but I had noticed the futures and forex trading has improved immensely in the past year with the improvements to TOS by TDA. Maybe Massive has more info regarding his negotiated rate?
Forex ,however, is about $250 margin per 10k lot.

But yes, the platform itself is all covered. No ongoing platform, feed, or routing fees. You can even register and just download the desktop and try in sim mode without paying anything. I forget, maybe an initial $40 startup fee with first deposit.

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