TradingView vs. thinkorswim: Which platform is better for trading and chart analysis in 2022

ReviewsJune 22, 2022

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To trade stocks, forex or cryptocurrencies, besides choosing a reputable broker, traders also need to find a price chart monitoring software. Choosing a good charting platform makes the technical analysis process easier and more efficient. The following article compares TradingView vs thinkorswim so that users can find the most suitable charting platform.

Overview of TradingView and thinkorswim

TradingView is an online charting platform that updates real-time data in 2011. Currently, TradingView has more than 30 million users globally every month. TradingView can be considered as a technical analysis support tool, and comprehensive market research, and is familiar to all traders around the world.

TradingView works mainly on a web browser, phone, or computer application, so users can easily monitor trades and analyze charts anywhere. In addition, TradingView is distinguished by a trading network that allows users to share trading ideas easily and a community that is very active every day. This makes TradingView the most versatile and familiar charting platform available today.

Thinkorswim was launched in 1999 as an options brokerage platform. In 2009, TD Ameritrade acquired Thinkorswim. After that, Thinkorswim’s brokerage services were shut down, but the trading platform was used by TD Ameritrade for their clients. Today, TD Ameritrade has 11 million client accounts and manages more than $1 trillion in assets across stocks, ETFs, options, and mutual funds.

Similar to TradingView, Think or Swim is a multi-functional platform such as updates news, and price alerts providing trading documents, and supporting market analysis. The platform is also quite mobile-friendly.

What is TradingView?

* See more: The complete guide TradingView from a to z

TradingView is a real-time online charting tool with many features for market analysis. TradingView charting platform is considered the most popular today with many advantages:

  • Offers many features for free
  • Integrating social networking features to allow sharing of trading and investment ideas
  • Versions of the application are available that are compatible with different operating systems, including web, mobile, desktop
  • There are many different market research tools and assets available
  • There are many types of free and premium accounts to suit different user needs.
  • Powerful charting tools with flexible customization through Pine Script

Besides, TradingView also has some disadvantages as follows:

  • TradingView is not an independent trading platform, so it is necessary to connect an account with a compatible broker.
  • TradingView only focuses on customer service for premium account types
  • Users need to register for an account and use a premium account to use the full features of TradingView
  • TradingView products do not have many ETFs yet.

What is Thinkorswim?

Thinkorswim is a trading platform acquired by TD Ameritrade in 2009 to serve the online trading needs of their clients.

Besides the trading function, Thinkorswim users also have access to trading and analytical tools, online courses, etc.

Unlike TradingView which can be connected to trading accounts of many different brokers, Thinkorswim is only used by TD Ameritrade clients.

TradingView and thinkorswim: Connect brokers

TradingView and Thinkorswim have a big difference in broker compatibility. TradingView is a platform that can connect with many different brokers. Meanwhile, Thinkorswim can only connect to the trading account of the broker TD Ameritrade.

TradingView vs Thinkorswim: asset classes

Besides, TradingView provides trading platforms and analysis tools for most asset classes including stocks, bonds, commodities, currencies, and cryptocurrencies. However, TradingView does not support options trading and does not provide options analysis tools.

Unlike TradingView, Thinkorswim only offers trading on TD Ameritrade’s available assets, including stocks, bonds, commodity futures, and currencies. The Thinkorswim platform only supports trading of Bitcoin futures contracts, and cannot trade the cryptocurrency directly or view the price data of this asset class. However, Thinkorswim supports options trading.

TradingView chart vs thinkorswim

When comparing the two trading and analysis platforms, the charting interface is the key feature that decides which one is more popular.

TradingView is famous for the most user-friendly and easy-to-use charting on the market. This feature is compatible with both the web version, the mobile app, and the desktop. In addition, the TradingView platform also provides a feature that allows users to freely use Pine Script to customize charts to suit specific needs. In particular, TradingView provides 8 different language versions in the world such as English, Chinese, Japanese, and Korean… However, TradingView can only download up to 3 indicators per chart for free and maximum. up to 25 indicators with more advanced packages.

Overview of TradingView and thinkorswim. Connectivity, asset types, charts, price alerts, ... of TradingView vs thinkorswim.

Think or Swim provides visually designed charts of asset price movements over time. In addition, the platform also allows users the flexibility to use hundreds of different technical indicators. Besides, thinkorswim also provides many learning materials and the ability to customize, set up charts easily.

Overview of TradingView and thinkorswim. Connectivity, asset types, charts, price alerts, ... of TradingView vs thinkorswim.

Comparison of the price alert feature of TradingView vs Thinkorswim

The price alert feature makes it possible for traders to catch market movements without having to sit for hours watching charts. Both TradingView and Thinkorswim provide price alerts for users.

Thinkorswim allows users to freely set alerts based on technical indicator parameters and price movements. Meanwhile, TradingView only allows users to receive 12 different warning conditions. However, users can actively choose the form of receiving alerts via messages, emails, and notifications on the TradingView window…

Level of friendliness, ease of use

Looking at it objectively, TradingView is a globally popular platform. TradingView web interface is designed to be simple and coherent. Users can easily find and use the provided features right from the first use.

Meanwhile, Thinkorswim is somewhat more complicated than beginners. Thinkorswim is confusing even for many experienced traders. However, the platform has a quite detailed and complete system of study guide documents, which users can use when they need to learn.

Trading community

TradingView is famous for its ability to share trading ideas and users can easily comment, ask and answer questions with other traders around the globe.

Thinkorswim only allows users to chat and is strictly moderated. However, Thinkorswim does not have a community to share trading ideas, so it is more limited in terms of community connectivity.

Which platform is better between TradingView vs Thinkorswim

Both TradingView and Thinkorswim provide trading platforms and support real quotes allowing users to do powerful charting technical analysis. However, for the vast majority of traders in the world, TradingView is more popular and easier to use for newbies. TradingView also allows users to easily search and track trading ideas with the community.

Meanwhile, Thinkorswim is completely free for customers which is a big plus. For traders with TD accounts Ameritrade has provided a wealth of knowledge for traders who want to learn about trading and investing. Especially, if users are interested in the options trading market, TradingView does not have this product, while Thinkorswim is superior in this product.

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