Tastyworks vs Thinkorswim (TD Ameritrade)

Tastyworks vs ThinkOrSwim (TD Ameritrade)

 

The co-found and maker of TD Ameritrade’s brokerage platform, Tom Sosnoff branched off to start the Dough trading group. After much success, he decided to take his ingenuity further by creating the Tastyworks brokerage platform.

Tastyworks is, for all intents and purposes, a super version of the thinkorswim (ToS) platform. The design is more slick with bigger and easier to read and maneuver. The technology of the platform seems very stable and fluid with real-time price changes. One can get a fill with minimal delay compared to other platforms. In addition, the Tastyworks platform has a built in “follow” section where you can see what the group members of the network are doing. This helps give trading ideas where you can opt to follow trade-for-trade, or simply do your own thing.

In Tastyworks desktop platform, you also have direct access to their live video broadcast station where you can get ideas from the group with explanations behind their trades. The Tastyworks browser version also contains the famous IV ranking system they have developed to determine a read on volatility and premium pricing in options trading. This is unique to their trading system.

You can access their brokerage service either via their downloadable desktop platform or web browser. Apps for mobile devices should be released to the public in the near future.

thinkorswim has the nice advantage of a long history of stability. The platform just works. However, if you want a platform where most of the excess features are removed to create a more fluid setup, Tastyworks is for you.

The nice thing about both platforms is you can sign up for free without any monthly fees. So you can easily go to Td Ameritrade or TastyWorks to try both platforms out at no risk to you to play with the features. Of course, if you trade, you’ll have risk. But it’s well worth it to get a feel for how the platforms work, and which works best for you.

If we had to pick one with the most potential, the winner would definitely be TastyWorks. The maker of thinkorswim made Tastyworks and it’s still be heavily developed, the potential future benefits to traders is great.

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