One of the best rated stock and options trading platforms, thinkorswim, looks like it will be opening its doors again for Canadian investors. From various conversations with TD Waterhouse discount brokerage representatives, traders and investors alike, regaining access to the thinkorswim platform for Canadian discount brokerage clients has been widely anticipated. Finally, it seems that there is a definitive timeframe that has been provided for a roll out to new clients.
It appears that thinkorswim is in the midst of a technical upgrade but sometime in October they should be back to accepting Canadian clients. Since thinkorswim Canada is owned by TD Waterhouse discount brokerage, you’ll have to be a client of TD Waterhouse to gain access to the thinkorswim platform. Specifically, only US dollar personal margin account or corporate accounts will be able to use thinkorswim and trading will be limited to US stocks and options.
Additional conditions include a minimum account opening amount of $10,000 and minimum trading activity of 30 trades per quarter. Trade commissions will be charged at $9.99 flat fee for stock trades and $9.99 +$1.25/contract for options trading. Option assignments will cost $15 flat. Interestingly, there are currently no platform fees for thinkorswim.
To find out more information on the platform or to download a free trial of their software (a great ‘try before you buy’ feature) you can visit the thinkorswim Canada page here.
Dear sir,
I like to open an account with thinkorswim. I am leaving in Calgary AB.
I have an cash account with TDW, can I trade the option with the cash account.
What is the procedure to open an account with thinkorswim.
Thank You.
Irene
Hi Irene,
Thanks for your note. You can contact TD Direct Investing and they will walk you through the process. Thinkorswim is known in Canada as the ‘US Trading Platform’. According to the TD website (
) you do need a margin account but the TD reps can confirm this for you. Hope that helps!