Thinkorswim vs DAS platform

[djdansays 0]

Hi all,

I'm trying to decide between Thinkorswim and DAS for my platform for TD as my broker. Can you please share the pros and cons for these 2 platforms? This will help me decide. I've listed the ones I've known below

TOS

Pros

1. Good Charts and good set of indicators
2. Thinkscript for customization

Cons:

1.  Limited Hotkeys and risk settings
2. Bulky software

DAS

Pros:

1. Light software
2. Advanced Hotkey and risk management

Cons:

1. Charts are simpler in comparison with TOS
2. No scripting for customization

Thanks,

Danny John

[Tom C 1]

I am trying DAS with TD this month,  I love DAS over TOS but fills are still bad especially on the open. Also issues with Hot button execution after taking partials.  Moving to IB right now.  That's just my experience. I'm too new to this to have to panic about getting out of trade.

Edited January 8, 2021 by Tom crowley
spelling

[Wayne C. 5]

1 hour ago, Tom crowley said:

I am trying DAS with TD this month,  I love DAS over TOS but fills are still bad especially on the open. Also issues with Hot button execution after taking partials.  Moving to IB right now.  That's just my experience. I'm to new to this to have to panic about getting out of trade.

Tom, I'm right there with you.  I've read too many reports now here, on Reddit, on Youtube, and on other sites about lag at open and bad fills on TD.  They even mention on their own site FAQs that they are still working out bugs for their interface with DAS.  I'm just not willing to chance it at this point.  I mean, I'd love to trade commission-free, but lost opportunity and bad fills have their own cost.

I'm moving my funds from TD to Centerpoint.  I chose Centerpoint over IBRK simply because I've read that they have better short availability.  They're really slow on account approval though.  I applied on Dec 28th and am still waiting on approval ten days later.  I have perfect credit and decent net worth, so it's perplexing.  My patience meter is getting low.  I called yesterday and they said to give them another day or two.

[Wayne C. 5]

Also, here is a blurb from the 2020 Year In Review email I received from DAS a few days ago discussing their partnership with TD:

 

[Tom C 1]

I just finished opening IB account only took 10 minutes. Now I'm just waiting for my funds to transfer back to me   from TDameritrade so I can get them to IB. I am just going to paper trade until my current month of DAS is done then I will open a new DAS account to my IB account.   It won't hurt me to paper trad for another 3 weeks.  Could be hurt though by trading the open with TD.

[Wayne C. 5]

1 minute ago, Tom crowley said:

I just finished opening IB account only took 10 minutes. Now I'm just waiting for my funds to transfer back to me   from TDameritrade so I can get them to IB. I am just going to paper trade until my current month of DAS is done then I will open a new DAS account to my IB account.   It won't hurt me to paper trad for another 3 weeks.  Could be hurt though by trading the open with TD.

Can you not do an ACH transfer directly from TD to IB?

[Wayne C. 5]

...aaaaand finally, at 4:32pm EST, Centerpoint approved me.  Sheesh.  Only took ten days. 😐

[NikkiB 22]

I moved from TD/TOS to IB/DAS about 4 months ago.  Assuming the cost for the DAS platform is relatively the same - the commissions really aren't anything in the grand scheme of things.  My bad trading is what's killing me, not the commissions at all.  I dealt with the lag at the bell with TD/TOS for about a year and it's SO nice to not have to deal with that now!  To not have to sit there with an order in and you can't see it nor cancel it and panic for 5-10 minutes before something goes through, and you never know where it's going to end up cuz you've hit Flatten 10 times by then - paying the minimal commissions for IB is fine with me!  Plus having the brokerage and platform support with this community is great.

[Tom C 1]

Moving it faster won't help as I want to use up my DAS that I paid for  on my TD account, you can't transfer DAS from 1 broker to another. You have to cancel and get a new account.

[Tom C 1]

NikkiB thanks for sharing your experience. I know I made the right call.