Platforms to practise forex on - Think or Swim

Posted by jmot in Thursday, February 28th 2008 under: Brokers, Tools No Tags

The other platform that I am using for my forex paper trading right now is from ThinkorSwim, in addition to the one from InterbankFX. I had to look for another trading platform because the InterbankFX platform that I was first introduced to does not have an online version and I cannot install any software on my company notebook. For me, the good thing about ThinkorSwim is:

It has both web-based and desktop trading platforms

Ultimate! Now I can trade during office hours! Shh…Check out the online web-based platform.

It has Prophet charts

OptionsXpress used to offer charts from Prophet.net and they are the ones that I had been using when I was trading Options. The ThinkorSwim trading platforms (both web-based and desktop versions) have Prophet charts. It feels so at home

Free

Just like the demo platform for InterbankFX.

But I still like the order entry method for InterbankFX more. For the ThinkorSwim platform, entry price, profit target and stop loss are three individual order lines. Can be confusing at times.

Setting up

Create a demo account username
Select citizenship and click “Register Now”

Choose a username and password and enter your personal particulars (real or fictitious? Up to you ) and click “Register”

When you reach this stage, actually you can already login and start to paper trade already! Well, you can always return to complete the process when you want to open a live account

For desktop platform, download from here and install (next, next, next as usual).
For web-based platform, just login in here.

Make trading forex even more fun, doesn’t it?

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9 Comments Already

manikam Said,

March 4th, 2008 @5:20 pm

thanks…

I’m trying out http://www.fxsol.com web-based too

rafik Said,

March 4th, 2008 @6:59 pm

I’m using FXDD…exactly like interbank.

jmot Said,

March 5th, 2008 @10:53 am

icic, thanks manikam, rafik for your recommendations. any good points you find about ur platforms? lower spread, ease of order entry, good charts etc…

March 5th, 2008 @5:44 pm

FXDD is exactly the same as interbank fx. I think it’s a matter of trusting the brokers, which is difficult i guess. I’ve tried withdrawing money slightly more than US1K. No problems. Customer service was good. Then again, if you have much more, I’m not sure .

One more important thing, you might find you do not get quotes that you want during news times, which is normal for most brokers.

Jon Said,

March 6th, 2008 @10:57 am

I have been a Forex trader at FXDD for a few years and withdrew over $40,000 overall. My biggest month was a withdrawal of about $7000, so no problem there at all, I trust them fully in regard to my money. However, they do give slippage once in a while but overall not worst than anyone else. I definitely prefer them to FXCM. I did use the Interbank FX Demo and like it as well. Overall, as long as you go with a reputable broker (and maybe even spread to a few as your account grow), the most important thing remain how happy you are with the platform and the trading condition. Be careful as sometime demo account aren’t giving quite as realistic condition as real accounts. Wish you the best trading.

March 14th, 2008 @9:28 am

exactly why amateurs should not trade the news

great sharing Jon! any good forex charts from any brokers that you would recommend?

kellempxt Said,

December 24th, 2009 @6:55 am

i’ve already had a papermoney demo account up and running the past year…

but how do i really get started with a live account…

apparently think or swim has an issue with our MAS…

can we just use anyhow address and register for a live account?

December 29th, 2009 @5:33 pm

They will need to verify your address with your recent bills and NRIC.

What issue do they have with MAS in particular?

December 31st, 2009 @12:44 am

“Thanks for the email. We used to be able to accept accounts from
Singapore, but we must now obtain MAS approval prior to opening any new
accounts. Unfortunately, we are still awaiting approval from the MAS.
Until we gain this approval we cannot facilitate any new account
openings from Singapore. We hope this changes soon.

Thank you for your interest in thinkorswim.

Regards,
Eric Burns
Client Liaison
866 839 1100
312 212 5868 fax
thinkorswim, inc.
600 west chicago avenue, suite #100
chicago, IL 60654″

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the above is their email reply.