Are you a savvy investor in the UK looking to leverage the advanced features and comprehensive market data of Thinkorswim? Unfortunately, you are out of luck. Thinkorswim is currently unavailable in the UK.
Many traders like you are drawn to Thinkorswim’s robust analytics and customizable interface, only to find it out of reach. But don’t hang up your trading hat just yet – we have some exciting alternatives lined up for you.
|Social Investing and ETF & Stock Trading
|Real Stocks, ETFs, Forex and CFDs on Stocks, ETFs, Cryptos and Commodities
|0% commissions on stocks and ETFs (spreads apply)
|Intermediate & Day Traders
|Stocks, ETFs, Bonds, Forex, Funds, Commodities, Options, Futures and CFDs
|Up to $0.0035 per stock (min: $0.35)
|Stocks, ETFs, CFDs, Options, Futures, Forex, Bonds and Funds
|From $0.01, $0.015 or $0.02 per share on US stocks
Why should you stick around? Because we’ve done the legwork for you. We’ve sifted through the sea of trading platforms to bring you the best Thinkorswim alternatives available in the UK for 2024. So, buckle up and get ready to dive into a world of trading platforms that offer everything from social investing to advanced technical analysis tools. You might just find your new trading home.
Is Thinkorswim Available in the UK?
Thinkorswim, the popular trading platform, has garnered a considerable following among investors and traders in the United States.
However, unfortunately, Thinkorswim is not currently available for UK residents. While this may be disappointing news for those hoping to access its features and capabilities, alternative platforms offer comparable services. Let’s explore some of these alternatives that UK residents can consider for their trading needs in 2024.
Can I use a VPN to use the Thinkorswim app from the UK?
You might be thinking, “Can’t I just use a VPN to access Thinkorswim from the UK?” It’s a fair question. After all, VPNs are commonly used to bypass geographical restrictions on various online platforms. However, using a VPN won’t do the trick when it comes to Thinkorswim.
Here’s why: Thinkorswim requires users to have a valid Social Security number, a legal US residential address, and a US citizen or valid US visa. So, even if you manage to download the app using a VPN, you won’t be able to create an account without these US-specific details.
Moreover, attempting to bypass Thinkorswim’s geographical restrictions could land you in hot water. It’s against the company’s terms of service and could result in your account being suspended or even permanently closed. So, as tempting as it might be, using a VPN to access Thinkorswim from the UK is a no-go.
When is Thinkorswim Coming to the UK?
The million-dollar question: When is Thinkorswim going to be available for the eager UK traders? Unfortunately, as of now, we don’t have a clear-cut answer to this.
TD Ameritrade, the company behind Thinkorswim, hasn’t officially announced any plans to launch the platform in the UK. Their expansion strategy and timeline remain under wraps, and we can only speculate about when Thinkorswim might make its debut on this side of the pond.
Bringing a platform like Thinkorswim to a new market is a complex process that involves navigating regulatory hurdles, aligning with business strategies, and establishing operational capabilities, among other things. Until TD Ameritrade provides a clear indication of their plans for the UK market, we can’t provide a specific timeline.
We understand that this might be disappointing news if you’ve been eagerly awaiting Thinkorswim’s UK launch. However, rest assured that there are some solid alternatives available for UK traders. Let’s dive into these options in the next section.
Thinkorswim UK Alternatives
We’ve compiled this list of Thinkorswim UK alternatives based on factors such as ease of use, fees, product catalogue, educational resources, security, and regulation. Check out our selection below.
eToro – Best for Social Investing and ETF & Stock Trading
76% of retail CFD accounts lose money.
eToro in a nutshell
eToro is one of the largest trading platforms in the world. Founded in Israel in 2007, its trading platform allows users to buy and sell assets such as stocks, ETFs, and thousands of CFD products. Moreover, you can also buy and sell cryptocurrencies.
One of the main features of eToro is the Social Trading aspect of its platform. Users can share their trades so everyone can learn and copy from their favourite traders. eToro has over 30 million clients in more than 140 countries.
There are no commissions for stocks and ETFs. However, trading crypto can become expensive as eToro charges a 1% fee plus spread on crypto transactions. There is also an inactive fee. If you don’t log in for a whole year, you pay a $10 monthly inactivity fee.
This platform has a unique and beautiful design with an intuitive user experience both on desktop and mobile. The menus are easy to navigate, and the information is crystal clear. The actual data on the various companies and stocks could be more in-depth, but that could compromise the ease of the platform.
The educational resources are vast and sound. They range from articles, videos or even courses you can take. All in all, it serves its function very well.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Interactive Brokers – Best for Intermediate & Day Traders
Interactive Brokers in a nutshell
The Trader Workstation (often mentioned as TWS) is Interactive Brokers’ trading platform, more focused on technical analysis. It is designed more towards active investors, and it has two different layout options: “TWS Mosaic,” which displays a fully customisable workspace, and “Classic TWS,” which is more excel-like with spreadsheets and contains more complex/advanced tools for more experienced traders.
One of the best features of the Trader Workstation is its level of interactivity and customisation. You can also improve the mosaic view with subscriptions from Reuters, Morningstar or Dow Jones. You also have several related news at your disposal all of the time.
Compared to thinkorswim, TWS offers a broader range of assets, including bonds that cannot be traded on thinkorswim. Moreover, Interactive Brokers is one of the largest and best-rated brokerage firms, so you can rest assured while trading with this platform.
Saxo Bank – Best for Advanced Traders
Saxo Bank in a nutshell
Saxo Bank offers three trading platforms: SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. Assuming that our readers have an average understanding of financial markets, we will concentrate on SaxoTraderGO, the broker’s most popular trading platform. An important safeguard is that the products featured in SaxoTraderGO are the same as in SaxoTraderPRO. You have stocks, bonds, ETFs, Forex, FX Options, CFDs, commodities, futures, bond mutual funds, and options trading at your disposal.
SaxoTraderGo is an excellent choice for the active investor who wants to have technical data such as multiple charts, fundamental and technical analysis tools, and performance analysis. All of this without compromising aesthetic and pleasing user experience.
If this sounds like you, then you’re definitely going to love SaxoTraderGo. You can start by setting up a demo account, exploring the app and its features, and seeing how it feels. You will not regret your decision!
In the vast ocean of trading platforms, it’s easy to feel adrift when the one you’ve set your sights on isn’t available in your region. But as we’ve explored, the absence of Thinkorswim in the UK isn’t the end of the road. In fact, there are plenty of viable alternatives that can cater to your trading needs.
Each platform we’ve discussed offers its own unique blend of features, tools, and user experiences, and it’s up to you to decide which one aligns best with your trading style and goals.
So, as we wrap up, remember: the world of trading is vast and dynamic. Don’t be disheartened if one door closes – there are always others waiting to be opened. Embrace the opportunity to explore, learn, and grow as a trader. Who knows, your perfect trading platform could be just around the corner!