thinkorswim vs Moomoo 2024
thinkorswim vs. Moomoo Introduction
Before making your next trade on a basic website, consider these two desktop platforms from moomoo and thinkorswim.
Compatibility of thinkorswim and moomoo
thinkorswim is available through Charles Schwab and can be used on computers running Windows, Linux, or OS X 10.11 or later. moomoo’s desktop platform works on Windows and Mac machines.
While thinkorswim used to offer API functionality, this feature is no longer available for new users. moomoo’s software is OpenAPI compatible.
Winner: Pretty even overall
Minimums and Fees
Neither desktop platform requires trading minimums or ongoing fees. Both can be used with a $0 account balance, and each has a demo mode for risk-free practice.
Winner: Another tie
Open an Account
Charles Schwab/Thinkorswim: Get $0 trading commissions free Charles Schwab account.
Moomoo:
Get zero commissions at Moomoo.
Customizations and Workspaces
The moomoo platform offers light and dark color themes, easily switchable with the shirt icon in the upper-right corner. Users can change colors and opacities of technical studies and create custom layouts.
thinkorswim provides five color themes, with options to change not only technical study colors but also price action, offering virtually endless customization through the Setup menu.
Both platforms support hotkeys, and users can edit the keystrokes.
Winner: thinkorswim
Charting
Both platforms allow charts to be viewed in full-screen mode, aiding in price analysis. thinkorswim offers nearly 400 technical studies, while moomoo has around 100. On moomoo, users must add an indicator to an available list before it can be applied to a chart, adding an extra step.
Both platforms have right-click menus on their charts, though moomoo’s menu lacks trade links.
thinkorswim includes a variety of drawing tools such as:
- Oval
- Text box
- Regression channel
- Andrews’ pitchfork
- Fibonacci time extensions
moomoo’s drawing tools include:
- Rising arrow
- Fibonacci retracements
- Gridiron line
- Parallelogram
- Elliot impulse wave
thinkorswim charts can be shared via URL, while moomoo allows users to take snapshots of charts, saving them as BMP files by default.
Winner: thinkorswim
Research Tools
Both platforms make it easy to find something to trade. moomoo’s desktop system features a stock screener under the Explore tab on the left side, allowing searches by various criteria such as:
- Volume %
- New High
- Shares Outstanding
- P/E (static)
- OTC marketplace
Other sections under the Explore tab include an IPO section, technical pattern information, dividend-paying stocks, and news articles.
Asset profiles on moomoo display data points from financial statements in both numerical and graphical formats. The Moo tab offers social networking with other moomoo users.
thinkorswim includes a currency heat map, useful for forex trading, which can be added by clicking the plus sign in the bottom-left corner. It also has widgets like live audio and video news, which moomoo lacks.
The MarketWatch tab on thinkorswim provides an economic calendar, heat maps, and financing rates. Under the Scan and Analyze tabs, users can find and analyze assets with numerous search criteria.
Winner: About even
Trading Tools
moomoo’s trade ticket offers 12 order types, including market if touched and trailing stop limit. thinkorswim has multiple order tickets, including a pairs ticket for submitting two orders simultaneously and a quick-trade widget with customizable buttons for rapid trading.
thinkorswim’s regular ticket has 15 order types, including market on close and OCO. Both platforms support bracket orders.
Winner: thinkorswim
Open an Account
Charles Schwab/Thinkorswim: Get $0 trading commissions free Charles Schwab account.
Moomoo:
Get zero commissions at Moomoo.
Moomoo vs Thinkorswim: Verdict
Both software platforms will satisfy the most demanding traders, but thinkorswim has a slight edge overall.