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[2022] TD Ameritrade Broker Review | Is The ThinkOrSwim Platform Worth It? - YouTube
Channel: ClayTrader
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td ameritrade and more specifically the
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thinkorswim platform
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better known as tos i want to do a quick
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little review and just give my thoughts
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on it and
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um maybe by the time this post i'm
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really late to the party
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or better yet honestly hopefully i get a
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bunch of comments and saying no clay
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that's not true they fixed everything
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i hope that's the case because that's
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going to save a lot of people
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a headache but as of the recording of
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this video
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thinkorswim td ameritrade i don't know
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what exactly is going on over there but
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there are lots and lots of problems and
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maybe i'm just a conspiracy theorist but
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i think there's a little bit of logic
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behind this but it seems though
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ever since they went to zero dollar
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commissions
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things have fallen off the table from
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both a customer service perspective
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and from a functionality perspective
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like i said let me know in the comment
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section
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maybe things have changed but let me
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know your experience with the tos
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platform
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all i it seems like all i hear about is
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oh tos is delayed oh tos
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isn't even working otos phil and again
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tos
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is thinkorswim which is their platform
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but tos
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insert blank of some sort of negative
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event
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where people are trying to execute or
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trying to trade or trying to use their
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charts and it seems like
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nothing is working and i would guess
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a couple of things either and it could
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be a combination but one
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they're just like well we're charging
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zero dollars
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so i mean we really don't make any money
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from our retail traders anymore
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so because we don't make money from our
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retail traders anymore and because we
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are a bigger business
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with multiple income streams and this
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stream is basically
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non-income anymore yeah we're just going
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to kind of put that
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on the back shelf now and let's actually
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focus on these other areas of our
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business
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because again td ameritrade a big old
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bank but
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you know let's focus on some areas that
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we can actually make money
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so like i said i can see them and i
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don't have any uh
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unless somebody does anybody have any
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data have they laid people off i don't
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know like i said this is pure
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speculation so i'm not passing off any
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of this as fact
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but to me it makes logical sense from a
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business standpoint that if you just
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literally
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basically make something not a revenue
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stream anymore because now you just
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charge people zero commissions
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well then yeah you're probably not gonna
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devote as many resources to it as you
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had before
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and those resources come via the
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customer service and the functionality
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and the functionality just and i guess i
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now it's a little so and this is why i
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can't say with certainty but
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and to offer up some defense when the
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whole coronavirus crash happened i mean
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even my broker who is direct access they
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have a great track record
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they they even had some issues just
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because so much was going on
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and the markets were so crazy so at that
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point i get it
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and i'm willing to cut everybody a pass
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including tos who had plenty of problems
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then
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but that's way behind us now the markets
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have returned more so than normal
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yet i swear to s continues to have
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issues and that's all i hear about
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and what really caused me to do this
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video and what gave me enough kind of
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confidence to just kind of step out
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there
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and say all this is a longtime member of
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the community that i offer
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who's been with tos shared his
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experience and this is somebody that i
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trust like i said they've been around
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forever
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they're a great trader they're probably
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one of the nicest guys in the community
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so i mean for him he's just not gonna
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make this stuff up that's really what
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i'm getting at but this was he said
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and this is what eventually and this is
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what happened you know broke the you
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know
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the straw that broke the camel's back
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he's leaving thinkorswim now
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so as you can see here on the screen i
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am ditching thinkorswim
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or anything else related to td
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ameritrade schwab i was on hold for four
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hours yesterday
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and the excuse for thinkorswim not being
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able to perform was
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market volatility the cust and by the
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way market volatility on this date
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it wasn't anything bad i mean of course
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it was a little volatile but it was not
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anything crazy it was
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nothing that a platform should not be
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able to handle so that in of itself is
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just such a weak excuse on their
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customer service but anyways picking
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back up
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the customer service manager had the
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gall to let me know that i should maybe
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keep more than one hundred thousand
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dollars
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and not pull out money so often from my
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account i
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asked him and this is such a great
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response on his part i asked if that
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would increase
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my thinkorswim functionality his
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response no
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but you will get priority if you stop
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pulling cash from your account
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i am leaving td ameritrade that's just
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i i get it i understand why this person
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is leaving i would do the same thing
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well if you had a hundred thousand
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dollars or more
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you know things would be better oh so if
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i entered 100 000 or more it would
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the platform would actually function
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well no but you won't have to wait for
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four hours you'd only have to wait for
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30 minutes oh
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that's fantastic so i mean think or swim
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if some representative watches this
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video
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i would encourage you this is only one
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member that's leaving in fact
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in the comment section down below have
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you left thinkorswim already
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i mean have you gone out to somebody
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else let me know in the comment section
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i mean who knows maybe there's a think
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or swim
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representative that's going to kind of
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get the light bulb to go off and say oh
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wow maybe we should start caring about
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more of this but i don't maybe they just
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don't care anymore because again
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it's a zero revenue there's no revenue
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that comes from the commission's anymore
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but i don't let me know and i can say
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that this is only one exa
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in fact the i was going to do a
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screenshot but i think i've driven the
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home enough but even
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the uh all right i've driven the point
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home enough but
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even this morning in the chat room
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somebody was griping about tos and how
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they're gonna be leaving and
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all that so i don't know what's going on
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with td ameritrade but all i would say
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is if you're thinking about using them
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as a platform
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as of now i i would be a little
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suspicious because it seems like they're
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having
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so many problems well i was always
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taught well clay if you're going to be
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offering up a bunch of problems and
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problems maybe some sort of solution
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so if you are somebody that is still
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looking for a zero dollar
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you know broker with because you have a
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smaller account then i would recommend
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weeble
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in fact i'll put a link down below to uh
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to a video on why i would recommend them
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and i walk through the platform
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so you can see everything that's going
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on for full disclosure sake that is an
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affiliate link
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but that's not the reason why i am uh
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recommending them for example
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robinhood also offers an affiliate
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program but i will never recommend
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robinhood
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so this is really nothing to do with the
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affiliate link i give my reasoning in
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that link down below
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uh but just for transparency sake that
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is an affiliate link but that is
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somebody that i would and i will say a
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lot of people are
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switching to them um because a lot of
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people really like weibull's
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uh app or their uh yeah the app on the
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phone
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uh which matches up pretty nicely with
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tos's app because i mean to give credit
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tos
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has a nice little app when it works but
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weibo has a nice app too so i know a lot
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of members
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in my community at least have been
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switching over to them so i'd encourage
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you at least watch the video that i
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linked below
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and you know maybe you can maybe you
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think no i don't like the way that
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platform looks at all and
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that's fine but like i said i want to at
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least offer up an alternative solution
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um as you're wondering i know should i
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use thinkorswim or not as of now i i got
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to give them a no do not use them
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and like i said what really pushed me
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over the edge was this member
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uh who's the nicest guy ever he's been
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around forever he's a great trader
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he's not gonna be making stuff up to
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hear about that experience i mean that's
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ridiculous
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absolutely ridiculous when you have the
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backdrop of
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i mean people have a right to be
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frustrated with how often the platform
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seems to be going down
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so that's my thoughts on thinkorswim
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right now i gotta give it a hard pass
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would not even think about touching it i
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do hope though that they get things
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turned around i hope that uh
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they can maybe devote some more
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resources to get the platform up and
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running more consistently
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can maybe get a little bit better
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customer service uh but
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it is what it is so those are some you
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know you know that's my thoughts on that
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and uh like i said i think the best way
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to go about it is just
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leave me your thoughts down below in the
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comment section maybe i'm way off maybe
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you've had the best
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experience ever and that's great maybe
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maybe this is all just uh i don't know
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maybe this is all just
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not really true taken out of context but
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i don't think it is because i swear
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everywhere i look
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it seems like everybody's always griping
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and complaining about think or swim but
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i don't know let me know in the comment
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section below and if you do enjoy these
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sorts of
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reviews let me know below i mean let me
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put it this way can you suggest anybody
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else that you would maybe like me to
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look into and review
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because if these videos get enough
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popularity then yeah it's probably worth
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my time to maybe do more of them
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and a good way to do that would be well
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first off hit that like button and then
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leave suggestions down below about what
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other things might need to be reviewed
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or what you would find value and getting
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reviewed and then also check out the
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channel
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as a whole lots of other types of videos
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and hopefully you decide to hit that
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subscribe button i'd love to have you as
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a subscriber but yeah
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come on tos come on think or swim come
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on td ameritrade
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let's let's get back to your former self
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first off thanks so much for watching
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the entire video real quick
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before you go i want to invite you to a
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live webinar
[522]
web class training workshop online event
[524]
whatever you want to call it but it will
[526]
be me
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live revealing to you what i discovered
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that has allowed me
[530]
to transform myself from being an
[532]
employee to being my own boss
[534]
including how i had only one losing day
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out of 73 days in total
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i'm going to cover three keys that have
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helped me unlock
[542]
profitable consistency within the
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markets the first key is super weird but
[546]
in a productive type of way
[548]
the second key is super awesome because
[550]
it quite literally is wired into our dna
[553]
as humans
[554]
making it very easy to use but in a
[556]
cruel way
[557]
this becomes a pitfall for many traders
[559]
i'll explain it all though
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including how to avoid the pitfall that
[562]
it creates for some
[563]
and yeah the third key when you hear it
[565]
sounds way too good
[566]
way too good to be true but it's not and
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i'll show you how it all works then
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at the end i open it up for a question
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and answer session that is
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again totally live even if you can't
[576]
make the live session
[578]
please still sign up as it will be
[579]
recorded and you can go back and watch
[581]
the replay
[582]
that i will send you click the image on
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the screen or click the
[585]
link down in the description box so you
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can get the date and time and claim your
[589]
spot
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which i should note is limited due to
[592]
the fact that this truly is a live event
[594]
if you have any questions let me know if
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not i'll be seeing you soon
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