TradingView vs ThinkorSwim: Which Trading Simulator is Best for You?

If you’re weighing TradingView against Thinkorswim, you’re in the right place. Both platforms offer powerful features, but the right choice depends on your trading style, experience, and what you need in a simulator.

Whether you’re exploring a TradingView alternative or searching for the best paper trading platform, this guide breaks it all down to help you make an informed decision.

Let’s dive in!

WARNING

Trading exposes you to the risk of losing more than your initial investment and incurring financial liability. Trading is suitable only for well-informed, sophisticated clients able to understand how the products being traded work and having the financial ability to bear the aforementioned risk.

Transactions involving foreign exchange instruments (FOREX) and contracts for difference (CFD) are highly speculative and extremely complex. As such, they are subject to a high level of risk due to leverage. Please keep in mind that CFD trading is banned in the US.

Information published on the NewTrading.io website is for informational purposes only and should not be construed as offering investment advice or as an enticement to trade financial instruments.

Head-to-Head Comparison Table

Trading Simulator	TradingView	Thinkorswim
Ease of use	⭐⭐⭐⭐ 80%	⭐⭐⭐⭐ 75%
Technical & Drawing Tools available	⭐⭐⭐⭐⭐ 95%	⭐⭐⭐⭐⭐ 80%
Free Features vs. Paid version	⭐⭐⭐⭐⭐ 80%	⭐⭐⭐⭐⭐ 80%
Mobile Experience	⭐⭐⭐⭐⭐ 90%	⭐⭐⭐⭐ 80%
Setup Process	⭐⭐⭐⭐ 80%	⭐⭐⭐⭐⭐ 90%
Unique Features	✅ Sophisticated charting software ✅ Social ‘ideas’ stream	✅ Advanced stock screener ✅ Advanced deal ticket
Pricing	Free with limited features	Free with limited features
Product Link	Try TradingView	Try Thinkorswim
Learn more	Read Review	Read Review

TLDR: Which is the best?

Our verdict: When it comes to paper trading simulators, TradingView is the clear leader for traders who value modern design, multi-broker integration, and intuitive charting tools. It offers a clean, flexible platform that’s perfect for technical analysis and strategy testing. TradingView also fosters a collaborative community with its social ‘ideas’ feature, enabling users to share insights and learn from other traders.

Thinkorswim, on the other hand, takes a more immersive approach. Developed by Charles Schwab, it’s built for traders who want to replicate real-world trading conditions. With its advanced order types, powerful stock screener, and deep market analysis tools, Thinkorswim excels in providing a more hands-on experience. It’s particularly appealing for intermediate and experienced traders focusing on stock and options investing.

That said, many traders find value in using both platforms. TradingView offers unmatched charting capabilities and broker flexibility, while Thinkorswim provides a lifelike environment for refining execution skills and exploring complex strategies.

Which platform should you choose?

If you’re driven by charts, strategy testing, and community inspiration, TradingView is your go-to. For those prioritizing a focused, immersive trading environment with tools for serious stock analysis, Thinkorswim is the stronger fit.

It’s also worth considering your brokerage. TradingView serves as a trading platform compatible with multiple brokers, giving you the flexibility to connect to the one that fits your needs. Thinkorswim, however, is exclusive to Charles Schwab, integrating directly with its services. If you’re already a Schwab client, this can streamline your trading process and make Thinkorswim the obvious choice.

Ready to explore the specifics? Let’s dive deeper into their features and help you find the right match for your trading goals

1. Ease of Use 

What we’re testing:

Here, we’re evaluating how user-friendly each platform is for both beginners. A good platform should balance being intuitive for new users and efficient for advanced practice.

• TradingView.
  While TradingView’s dashboard can look cluttered at first glance and has a steep learning curve for beginners, it’s fully customizable, responsive, and powerful. While not the most intuitive platform, once you get to grips with it, it becomes easier to use and layouts can be adjusted to be simpler.
  
• Thinkorswim
  Thinkorswim’s dashboard is fairly basic compared to TradingView, which makes the barrier of entry slightly easier.
  
  We’ve had a hard time with Thinkorswim’s handling of custom chart setups, as switching between the ‘Chart’ and ‘Trade’ tabs didn’t seem to preserve them. Additionally, trading directly from the charts felt less intuitive compared to TradingView.
  

Winner: TradingView

Neither of these platforms are going to win any awards for ease of use – both have relatively steep learning curves. 

However, TradingView just about gains the edge over Thinkorswim because it’s easier to interact with TradingView’s powerful charting software despite the initial difficulty when logging in. 

Chart setups and tools remain in place when navigating throughout the dashboard, and placing trades through the chart is a slicker experience on TradingView versus Thinkorswim.

2. Technical & Drawing Tools Available

What we’re testing:
We evaluated the range and functionality of technical analysis tools (like moving averages, RSI, MACD) and drawing tools (like trendlines, Fibonacci retracement). A great platform should support in-depth chart analysis and offer customization for various trading scenarios.

TradingView:
TradingView excels with an extensive array of tools for charting and analysis. From trendlines and Fibonacci retracements to pitchforks and a huge library of indicators.

The strategy tester is another standout feature, allowing users to upload and backtest their custom trading strategies. However, the free version limits you to a single chart per tab and a maximum of three indicators per chart, which can feel restrictive for advanced users.

Thinkorswim:
Thinkorswim’s stock screener is a highlight, offering over 60 filters, with 30 focused on fundamentals like EPS, ROE, and profit margins. The platform’s “studies” (indicators) are divided into useful categories, such as trend and volatility, providing solid support for technical analysis.

That said, its drawing tools, while functional, don’t match the depth and versatility of TradingView. Plus, the free version only comes with a 30-day guest pass unless you open a Charles Schwab account.

Winner: TradingView
TradingView’s breadth of tools and flexibility make it the superior choice for traders seeking advanced charting and analysis. 

However, both platforms have limitations in their free versions. Thinkorswim’s trial is time-limited, and TradingView restricts charts and indicators without a paid plan. For serious trading, upgrading is almost essential on both platforms.

3. Free Features vs. Paid Version

What we’re testing:
Here we’re comparing the free and paid versions, looking at whether the free version gives you a full paper trading experience or if it constantly tries to upsell you. We want to see if the free version allows for smooth strategy practice or if it’s interrupted by paywalls.

TradingView:

TradingView has all the core charting tools available to paper trading accounts. Live market data and prices are available, but they’re an option you need to pay for – and the free version also only supports up to three indicators per chart. You’re also likely to get more upgrade prompts on TradingView compared to Thinkorswim, and there are one or two advanced tools – such as Volume Profile – that are locked behind full accounts.

Thinkorswim:

Thinkorswim is owned by Charles Schwab, meaning that you don’t even have to sign up for a guest pass if you’re already a Charles Schwab customer. Thinkorswim’s paper trading simulator provides a solid trading experience without frequent interruptions. While the platform may occasionally highlight features available in the live trading version, it does not inundate users with constant prompts to upgrade.

Winner: Thinkorswim

Thinkorswim’s paper trading platform is relatively free from intrusive upgrade prompts. It’s more focused on educating users and letting them explore tools rather than pushing for immediate upgrades. That said, you may encounter occasional reminders about using the live account for actual trading, but they are not as persistent or disruptive as on some other platforms.

4. Mobile Experience

What we’re testing:
We’re evaluating how well the mobile app replicates the desktop experience, looking at navigation and access to core tools like order placement and charting. We want to see if traders can use the mobile app without needing to switch to desktop for important tasks.

TradingView:
The TradingView mobile app is simple and streamlined. It’s all about ease of use and accessibility, with a user-friendly visual design. You can find and use all the charting tools and technical indicators easily, as the layout is almost identical to the desktop version. While the mobile app lacks some of the advanced features of the desktop version such as the more complex drawing tools, the app is optimized for performance and has quick access to the essential tools for trading on the go.

Thinkorswim:
Thinkorswim’s mobile app has the full features of core trading tools and a ton of charting capabilities to perform detailed technical analysis. The interface is responsive while the performance management is intuitive.

While the mobile app has most of the desktop’s main features, some more complex technical indicators are limited. You might need to switch to the desktop for in-depth strategy testing or highly customized analysis, but overall Thinkorswim’s mobile app is stable and user-friendly for everyday trading. 

Winner: TradingView

Reason: TradingView’s mobile app beats Thinkorswim in terms of mobile experience. It’s super simple and visually intuitive and mirrors the desktop version closely with all the charting tools and features easily accessible. You can do almost all the critical analysis and trading on mobile without any limitations so it’s perfect for traders who rely heavily on mobile access.

5. Setup Process

What we’re testing:
Last of all we look at how well the simulator mimics live trading, like order types, platform speed and number of assets. We want to see if the simulator allows you to practice a variety of trading strategies like you would in a live environment.

TradingView:
Signing up with TradingView directly rather than through one of its affiliates is actually not as straightforward as it could be – in our in-depth review, we mention how you have to visit a chart page to sign up for a paper trading account rather than a dedicated landing page for demo accounts. While not impossible, the signup process does contain more steps than usual.

Thinkorswim:
Signing up for Thinkorswim is extremely straightforward and even easier if you are already a Charles Schwab customer – you already have access to the Thinkorswim platform. Even if you aren’t, the entire process takes a couple of minutes.

Winner: Thinkorswim

Signing up to Thinkorswim’s paper trading account (also known as a guest pass with Charles Schwab) is a quicker and smoother process than opening a demo account with TradingView, which is hidden by a couple of layers.

---

Conclusion

Overall Winner: TradingView

Why choose tradingView:

• Sophisticated charts
  TradingView are world-renowned for their powerful and comprehensive charting packages, which are used by plenty of different brokers and platforms – with good reason. They’re one of the best charting packages out there.
• Social trading
  For a community-based platform and a reliable source of ideas, TradingView’s ideas stream, as well as its social aspect, shines over the competition.
• Impressive array of technical and fundamental tools
  While the platform doesn’t hold your hand or give a wide range of tutorials, its diverse range of tools are likely to impress any level of investor.
  

When to consider Thinkorswim:

• Less is more: if you’re looking for a cleaner experience that cuts out market chatter and focuses on the fundamentals, Thinkorswim is a solid choice.
• Stock screener: If you’re looking to only trade stocks, Thinkorswim has one of the best advanced stock screeners in the market. 
  

Ready to practice your trading skills? Try out TradingView here or Thinkorswim here and see which one suits you best.