How to Open Account on TOS (Think or Swim) for Trading Online
In my previous post, i already made a tutorial about how to Open Account on Optionsxpress. And now, here i want to share with you how to open account on Think or Swim (it’s known as TOS). This broker has a lot of advantage than Optionsxpress. So if you already decide to trade with real money, i recommend this broker to use. Most of the time, i use analysis and trade using TOS Desktop (TOS Software).
So why we have to play in TOS? What is the advantage?
1. Have best software to analyze
2. Chart features is the best among all broker software, i ever used lot of chart software from OX & IB (Interactive Brokers). But for me TOS Chart Features is the best chart software to used
3. Java Based. Not Web Based
4. Data Streaming, so you don’t have to refresh all the time to know the latest price (like OX) if you want to trade.
5. There is Paper Money (Virtual) Account to used
6. Cheap commission. Only $1.25 per trade
7. It’s not like IB, no Cancel Fee if you cancel the trade
How to Open Account on TOS?
1. First enter www.thinkorswim.com
2. Click Open an Account and click Start Opening an Account
3. Fill your Personal Data Registration
4. If finished, click Register
5. Click Individual : Margin and a pop up show like below
6. Name your Nickname and click Select this Account
7. You’ll review your data once again, make sure it’s already correct. At the bottom of the page there are security question. Fill it carefully and better to notes that. If you finished checking all the data, you can click Save & Continue
8. After that, you will be go to login page like below
9. Enter username and password as you enter before. After you login, you will be asked to fill Verification Code. Check your email, and Copy Paste the code on the textbox
10. After you click Submit after entering Verification Code, there will be several statement you must read and agree. Just fill your name on Signature and click Save & Continue like below
11. After several statement, you will enter this page
12. All you need to send is your ID Card, W-8BEN that already Filled & Signature Card. You can scan and send them via email at firstname.lastname@example.org
How to fill W-8BEN Form : Fill number 1-5 with your data and check the 9A checkbox and fill it with your country and signature them
13. After all of this finished, all you need to do is deposit your money to your account.
Just use Wire Transfer via your Local Bank. Usually there is bank fee transfer must payed + another $15 fee transfer charged on the fund you transfered. Need about 1-2 days to delivered
14. After this all done, all you need to do is to download the software and login to it
15. After your download finished. Click Think Desktop icon to run the software
16. It ready to use
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