Brother, first of all if there is no straight answer to a straight question then there is no direct crypto trading on ThinkorSwim.
This platform is famous for stocks options and futures but you cannot buy cryptocurrencies like Bitcoin, Ethereum etc.
But don’t worry,
there are some workarounds which I am going to tell you about
Friends, I have done a lot of research in writing this article. First I checked the official website of ThinkorSwim,
Then read the crypto ETF rules of SEC. Watch the real experiences of traders on Reddit/Quora.
Compare apps like Coinbase-Binance After that I have written the article just for you.
You will enjoy reading this article.
Why Thinkorswim Rejects Crypto Trading
Think about it, ThinkorSwim is a part of TD Ameritrade which is a traditional brokerage.
They do not have full trust in crypto because the rules are a bit complicated and volatility is also very high.
That is why they have not yet supported direct crypto trading.
But if you are interested in crypto then there are some other ways that can work.
How to Trade Crypto on Thinkorswim (Indirect Method)
Yes brother, you cannot do it directly but you can buy crypto related ETFs like BITO which is based on Bitcoin futures or GBTC which is a Bitcoin trust.
Apart from this you can also trade CME listed Bitcoin futures on ThinkorSwim but this is a bit complicated and does not feel like direct crypto.
If not crypto on ThinkorSwim then what are the best alternatives
If you really want to trade crypto, then there are some good platforms like Coinbase which is beginner friendly,
Binance where trading fees are low and options are many,
You can also do social trading on eToro and some basic crypto trading also happens on Robinhood, choose any of these as per your convenience.
Pros and Cons of Crypto Trading with ThinkorSwim
Talking about the pros, ThinkorSwim’s charts and analysis tools are very strong,
Which are useful for crypto ETFs and futures, but the biggest con is that you do not get direct crypto and the fees can also be a bit high.
If you are only interested in crypto, it is better to use dedicated crypto platforms.
FAQs
Is there crypto trading on Thinkorswim?
No brother, you cannot trade crypto directly. But you can trade bitcoins forex and futures.
Will ThinkorSwim add crypto?
There is no plan as of now if there is any update then I will let you know.
Can I track crypto prices?
Yes, you can try using tricks but cannot trade.
What are the best crypto trading apps?
Choose from Kinbase, Easy to Buy, Low Fees and Secure
How to invest in crypto with ETFs?
You can buy Bitcoin, Bitcoin futures and as long as you trust Bitcoin it doesn’t feel like direct crypto.
Final Verdict –
If you are a serious crypto trader then ThinkorSwim is not the best option as there is no direct trading but
if you are interested in both stocks and crypto and want a little indirect exposure then you can try ETFs and futures otherwise
It is better to focus on platforms like Coinbase Binance which are specifically made for crypto