A TD Ameritrade Demo Account comes in the form of the ThinkorSwim Trading Platform – Demo Mode. The Demo Mode is known as Paper Money and there is no charge to use the broker’s simulated trading tools.
| 🔎 Broker | TD Ameritrade |
| 🔁 Trading Platform | ThinkorSwim |
| ✅ Mode | Simulated Trading |
| 💵 Cost | $0 USD, R0 ZAR |
TD Ameritrade Demo Account – 5 Key Point Quick Overview
- ✅ How to open a TD Ameritrade Account – Step by Step Guide
- ✅ ThinkorSwim Trading Platform Overview
- ✅ ThinkorSwim Pros and Cons
- Conclusion
- Frequently Asked Questions
Min Deposit
USD 0
Regulators
SEC, FINRA, CFTC, MAS
Trading Platform
Web Trading Platform, ThinkorSwim
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
TD Ameritrade offers their clientele a method of practice trading through the use of the ThinkorSwim trading platform – Demo Mode. ThinkorSwim is available as a desktop program or mobile app. The Demo Mode is known as Paper Money and there is no charge to use the broker’s simulated trading tools. Firstly – A client must have a TD Ameritrade Account in order to use Paper Money. Here is an overview of how to open a TD Ameritrade account.
How to open a TD Ameritrade Account – Step by Step Guide
In order to open a TD Ameritrade account, the client will need to provide their social security number or Taxpayer Identification number plus their employer’s name and address.
1. Step 1: Start the Application Process
On the TD Ameritrade account application page fill in the basic personal information required. Here traders will need to select their account type before moving on to the next step.
2. Step 2: Complete Personal Information
In this section, the client will have to complete more secure personal information like their social security number, mailing address, date of birth, and employment information.
3. Step 3: Review and Edit.
In this section, clients will simply be required to review their information, ensure everything is correct and clicking on continue to proceed.
4. Step 4: Agree to Terms
This section includes technical information for the client to agree to. The client must carefully read through the documentation carefully before agreeing to any terms.
5. Step 5: Set Up Online Login
In the fifth and final step, the client will set up their username, password, and security questions. Once the account has been opened, funding can occur.
The next step is to download the ThinkorSwim Trading Platform. Once the download has been completed the trader must choose between live trading and simulated mode. The simulated mode is what is referred to as Paper money and this is TD Ameritrade’s version of a Demo Forex Trading Account. Here is an overview of the full ThinkorSwim Trading Platform.
Min Deposit
USD 0
Regulators
SEC, FINRA, CFTC, MAS
Trading Platform
Web Trading Platform, ThinkorSwim
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
ThinkorSwim Trading Platform Overview
ThinkorSwim (ToS) is the advanced trading platform offered by TD Ameritrade. ThinkorSwim comes fully equipped with technical analysis, charting tools, and software features.
| 💵 Minimum Investment | $0 USD, R0 ZAR |
| 💳 Commissions (stocks, ETFs and Options) | $0 USD, R0 ZAR |
| 🔎 Account Type | Taxable, IRA and More |
| 💻 Platform | Web, Windows, Mac, iOS, Android |
| 🥇 Promotions | None |
ThinkorSwim Pros and Cons
| ✔️ Pros | ❌ Cons |
| No Commisions | Fractional Shares can not be traded |
| Advanced charting tools | Charges contract fees for options |
| Advanced Research tools | Charges contract fees for futures |
| Paper trading accounts | |
| 24/5 trading hours |
Conclusion
Overall, the TD Ameritrade Demo Account is offered on a market leader in trading platforms, carrying all the benefits at no cost or risk.
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Frequently Asked Questions
Is ThinkorSwim as demo account good for TD Ameritrade beginners?
Yes, not only as demo for beginner traders, but also for more advanced traders. Charts, scanners and filter studies are top-level in the industry.
For how long is the ThinkorSwim free trial?
The trial is available for 60 days for traders to strategize and analyze with next-level technology.
What is the difference between a demo and live trading account?
A demo account offers the use of virtual funds instead of actual capital. In the case of TD Ameritrade, virtual funds are referred to as paper money and are available on the ThinkorSwim trading platform.
Which live trading accounts does TD Ameritrade offer?
Live trading accounts offered by TD Ameritrade include:
- Standard Account
- Retirement Account
- Education Account
- Specialty Account
- Managed Portfolios Account
- Margin Trading Account
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