- Updated August 9, 2024
- This page may contain affiliate links. We may earn a commission if you make a purchase through these links.
Discover our detailed comparison of Forex.com and thinkorswim to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for Forex.com and thinkorswim across the internet and compiled it all in this article.
Overview of Forex.com
Forex.com
- ✓ Best for forex trading
- ✓ Competitive pricing
- ✓ Several tradeable assets
Forex.com is a comprehensive trading platform that allows users to trade forex, commodities, indices, and cryptocurrencies. It offers a range of account types, including standard, commission, and direct market access accounts, catering to different trading needs. Forex.com provides advanced trading tools and research resources, making it suitable for both novice and experienced traders. However, it lacks the social trading features found on some other platforms, and its educational resources could be more extensive. Despite these minor drawbacks, Forex.com is known for its robust trading infrastructure and competitive pricing.
Forex.com is Best For
Forex.com is best suited for traders who want to focus on forex and CFD trading with access to a wide range of global markets. It caters to both novice and experienced traders, offering advanced charting tools, real-time market analysis, and educational resources to help improve trading skills. The platform is particularly appealing to those who prefer the popular MetaTrader 5 (MT5) interface, as it provides exclusive tools and features when used with Forex.com. It also allows you to use advanced TradingView charting. Additionally, Forex.com is ideal for traders seeking a reliable and regulated broker with competitive spreads and the ability to trade on desktop, web, and mobile platforms.
Overview of thinkorswim
thinkorswim
- ✓ Customizable charting tools
- ✓ Paper trading features
- ✓ Free for Schwab accounts
thinkorswim was founded by Tom Sosnoff in the late 90s, and is one of the most popular trading platforms today. thinkorswim allows you to use advanced charting tools, custom indicators, screeners, trade options, and more! thinkorswim itself is not a brokerage, but is compatible with Schwab and TD Ameritrade customers.
thinkorswim is Best For
thinkorswim is best for traders who already use Schwab or TD Ameritrade, and want an excellent trading platform for technical analysis, options trading, news, and more!
Key Characteristics of Forex.com and thinkorswim
| Provider | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| Forex.comVisit Site | Brokerage Platform | Over 80 FX pairs, CFDs for stocks, futures, futures options, and crypto | Chart via TradingView or MetaTrader | Real-time data is included with a funded account | No premium features |
| thinkorswimLearn More | Trading Platform (Schwab) | Stocks, ETFs, Mutual Funds, Options, Index Options, Futures, Futures Options, Bonds | Downloadable desktop platform and web app | Real-time data with funded account | No premium features |
Trading Features and Tools
| Provider | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Forex.comVisit Site | No | Yes | Not insured | Yes |
| thinkorswimLearn More | Yes, no fees | Yes | Not a broker | Yes |
Trading Costs and Commissions Compared
| Fee Type | Forex.comVisit Site | thinkorswimLearn More |
|---|---|---|
| Equity Commission | Trade CFDs by connecting to StoneX One | Free |
| Option Commission | No options | $0.65 per contract |
| Futures Commission | Connect with StoneX One | $2.25 per contract |
| Futures Options Commission | Connect with StoneX One | $2.25 per contract |
| Option Exercise Fee | No options | None |
Forex.com vs thinkorswim – Bottom Line
Choosing between Forex.com and thinkorswim depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
TradingView Limited Time Offer!
Exclusive Deal: 30-Day FREE Premium Access + Bonus Credit
Don’t Miss Out – Sign up for TradingView Now!
- Advanced Charts
- Real-Time Data
- Track all Markets
If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more.
Related Trading Platform Comparisons
Barchart vs Interactive Brokers
Finviz vs StockCharts
Schwab vs Vanguard
Barchart vs Tradovate
Robinhood vs Vanguard
- Uncategorized
Recent Posts
Apex Trader Funding vs. TopStep – Which is Best For You?
Apex Trader Funding Review (2024)
Trade Ideas Review: Reviews, Pricing, Alternatives (2024)
Options Trading
Mike
Option Omega Review: The Best Automated Options Backtesting Software
Mike
The 3 Best Options Backtesting Software
Mike
The Best Indicators for Options Trading
Mike
Option Omega Discount Code – 50% Off Coupon
Mike
The Wheel Strategy Explained | 3 Things You Must Know
Technical Analysis
Mike
TradingView Review: Features, Pricing, and Reviews (2024)
Mike
TrendSpider Review – Is It Worth Paying For? (2024)
Mike
11 Best TradingView Indicators in 2024
Mike
The Best Charting Software for Stocks in 2024
Mike
TradingView Volume Profile: A Comprehensive Guide for Traders
Mike
How You Can Get a TradingView Free Trial
