thinkorswim acquired by ameritrade.

Discussion in 'Retail Brokers' started by gaj, Jan 8, 2009.

  1. dude25

    dude25

    Imo, it is not clients that ameritrade is interested in.
    Ameritrade wants to diversify its products and services. (Only imo though).

    TD AMERITRADE to Acquire thinkorswim: Key Points
    This deal advances our growth strategy, creating scale for the trading side of our business and, more importantly, advancing our trading strategy by several years.

    We have a strong, stable balance sheet, are well-capitalized and have strong cash flow – all of which uniquely position us to be opportunistic in this economic environment.

    thinkorswim is an industry leader in trader technology. Our combination will introduce new trading functionality for strategies that include advanced options trading, futures, foreign exchange and portfolio margining to our existing retail client account base.

    thinkorswim, with its highly active retail clients and complementary trading tools and services, will add its current #1 position in the number of options trades placed each day to our current #1 position in the number of equity trades placed each day.(2)

    We are uniquely positioned to leverage the state-of-the-art Investools investor education program as an acquisition channel and to help deepen the relationships we have with our clients. We also plan to expand it over time to include programs for long-term investing, helping us drive our asset gathering strategy.

    Clients should expect no immediate impact to their accounts or the way they trade. All clients will receive more detailed information about what they can expect from the combined company after the acquisition is completed.

    After the deal closes we plan to retain key members of the thinkorswim management team, including thinkorswim founders Tom Sosnoff and Scott Sheridan. We recognize the firm's outstanding achievements in trader technology and education and will support their continued innovation.
     
    #11     Jan 8, 2009
  2. TOS is my favorite broker.

    Hope Ameritrade dont mess with the TOS Platform, commissions and fees....

    Schwab really fucked CBT customers when it ate Cybertrader, my favorite broker back then...

    now this shit happens....

    TOS was really the best retail broker on the market......

    I am fucking mad - cant say anything else.....
     
    #12     Jan 8, 2009
  3. F*ck...pardon my Italian


    hummm....we need to set up a TOS support group, so when Ameritrade starts fucking with our accounts we can figure out the best place to go...IB?
     
    #14     Jan 8, 2009
  4. I worked at BrownCo when E*trade bought us and closed shop... I also have a close working knowledge of the FISERV Trust acquisition by TD Amerifee.

    The only thing that I can suggest to ToS customers is that you PRE NEGOTIATE any & all of your fees, rates, structure, account, etc. before you sign anything. TD Amerifee will allow ToS guys to be grandfathered in but in my experience the acquiring company will try and avoid that at all cost.
     
    #15     Jan 8, 2009
  5. pkramer

    pkramer

    ah well this pisses me off. TD Ameritrade doesn't have futures and I called them up and they basically said they have no interest or plans to add futures. Can anyone else recommend a good futures broker? Is IB the only choice?
     
    #16     Jan 8, 2009
  6. mike007

    mike007

  7. I'm glad to see that i'm not the only one who rolled his eyes and said crap, as if I'm not busy enough and paying enough commissions to TOS to keep them independent!
    Its kinda funny as I have an account with both, not wanting to burn my bridges with Ameritrade over a new start-up called TOS.
    I'm on portfolio margin which I find very acceptable with TOS, and my only hope with this is that Ameritrade does not screw it up or jack up the rates/requirements.
     
    #18     Jan 8, 2009
  8. Join the Revolution!! Sellout to TD Ameritrade!!
     
    #19     Jan 8, 2009
  9. Posted this on the other thread,
    This is unquestionably bad news for those Think or Swim customers that have become accustomed to great service from a small company that would work directly with the client to work out whatever you needed. You have to assume they will become the large corporate run non boutique firm of TD.

    Anyone know if there is somewhere else we can go? We all know about IB – great commissions for options and great range of products, but terrible commissions for futures, useless charts, and poor service. Is there any company out there like Think or Swim? Maybe it was too much to hope that a small, well run company could survive the generic large corporate takeover.


    Please feel free to email TOS to let them know your displeasure. I have no delusions that we can change the merger, but if the majority of TOS customers realize how bad this is for them and make that known, the companies may at least try harder to work in what we like about TOS.
     
    #20     Jan 8, 2009