How to install Thinkorswim Desktop on a Chromebook in 2021

Understanding Thinkorswim Desktop

Thinkorswim is a powerful trading platform developed by TD Ameritrade, designed for investors who seek sophisticated analytical tools, real-time data, and a comprehensive suite of features tailored for trading stocks, options, futures, and forex. Traditionally, Thinkorswim has been predominantly available for Windows and macOS users. However, with the increasing popularity of Chromebooks, many users have been searching for ways to install Thinkorswim Desktop on these devices. This article provides a detailed guide on how to go about this installation process, particularly in 2021.

Why Use a Chromebook for Trading?

Before diving into the installation process, it’s useful to understand why many traders prefer Chromebooks. Chromebooks are known for their lightweight design, long battery life, and affordability. They run on Google’s Chrome OS, which is typically less resource-intensive than the traditional Windows or macOS platforms. While they are mainly web-based devices, recent advancements allow users to install Android apps and even Linux applications, thereby enhancing their functionality.

Preparing Your Chromebook for Installation

Enabling Linux (Beta)

To install Thinkorswim Desktop on your Chromebook, you’ll first need to enable Linux (Beta), also known as Crostini. This feature allows you to run Linux applications alongside Chrome OS.

1. Open Settings: Click on the time in the bottom right corner of your screen and select the gear icon to open the Settings menu.

2. Locate Linux (Beta): In the left sidebar, scroll down to find the “Advanced” section. Click to expand, and look for “Developers.” Here you’ll find “Linux development environment” or “Linux (Beta).”

3. Turn On Linux: Click “Turn On,” then follow the prompts to set up the Linux environment. Allocate adequate storage space for Linux; typically, 10 GB is sufficient for most applications.

Installing Required Packages

Once Linux is enabled, you’ll need to install some additional packages to ensure seamless operation of Thinkorswim Desktop.

1. Open Terminal: After setting up the Linux environment, open the Terminal application. You can find it by searching for “Terminal” in your app menu.

2. Update Package List: Enter the following command to update the package list:

   sudo apt update

   This command ensures you’re working with the latest software available.

3. Install Needed Dependencies: Run the following command:

   sudo apt install libc6 libjpeg62 libfontconfig1 libstdc++6

   These packages are crucial for the proper functioning of Thinkorswim.

Downloading Thinkorswim Desktop

Accessing the Official Website

1. Visit TD Ameritrade: Use your Chromebook’s web browser to navigate to the official TD Ameritrade website. It’s essential to download Thinkorswim from a legitimate source to avoid potential security risks.

2. Create an Account or Log In: If you do not have an account yet, you will need to create one. Registering for a TD Ameritrade account is free and grants you access to various trading tools.

3. Locate the Thinkorswim Download Link: Once logged in, search for the Thinkorswim platform. You should find options to download the software for different operating systems. Choose the Linux version (if available) or opt for the Windows version, as you will be using a compatibility layer.

Installing Thinkorswim

1. Download the Installation File: Click on the download link for Windows, which will save the installation file (typically a .exe file) to your Linux files.

2. Navigate to Downloads: Use the Terminal to navigate to your downloads folder:

   cd ~/Downloads

3. Install Wine: To run the .exe file, you will need Wine, a compatibility layer that enables Linux users to run Windows applications. Install Wine by executing the following command:

   sudo apt install wine

4. Run the Thinkorswim Installer: Once Wine is installed, use the Terminal to run the installer with this command:

   wine Thinkorswim-installer.exe

   Replace Thinkorswim-installer.exe with the correct name of the downloaded file. The installation wizard will open. Follow the provided instructions to complete the installation.

Configuration After Installation

Setting Up Thinkorswim

After successfully installing Thinkorswim Desktop, you need to configure it according to your preferences:

1. Launch Thinkorswim: You can generally find the app in your applications menu or by running:

   wine ~/.wine/drive_c/Program Files/Thinkorswim/bin/thinkorswim.exe

2. Log in to Your Account: Enter your TD Ameritrade credentials to access your account.

3. Configure Preferences: Customize your workspace, set up charts, create watchlists, and familiarize yourself with the tools available.

Accessing Help and Resources

If you encounter difficulties during the installation or setup, TD Ameritrade provides extensive resources, including tutorials, webinars, and support forums. Engaging with these resources can enhance your understanding and usability of the Thinkorswim platform.

Alternative Solutions

While it’s possible to run Thinkorswim Desktop on a Chromebook through the methods described above, users may consider alternatives depending on their specific trading needs.

Web-based Trading Platforms

TD Ameritrade offers a web-based version of Thinkorswim, which operates smoothly on any modern web browser, including Chrome. This solution is ideal if you want a straightforward trading experience without the need to set up Linux or Wine.

Android Version of Thinkorswim

If your Chromebook allows it, you can also download the Android version of Thinkorswim from the Google Play Store. This application is designed specifically for mobile use but offers many of the same functionalities as the desktop version.

Conclusion

Installing Thinkorswim Desktop on a Chromebook adds a powerful trading tool to your financial arsenal. Although the process involves several steps, preparing your Chromebook by enabling Linux and installing the necessary packages makes it feasible. By exploring the capabilities of Thinkorswim, traders can unlock sophisticated tools that empower their investing decisions. Whether you choose the desktop version or opt for the web-based or mobile applications, TD Ameritrade aims to cater to your trading needs efficiently.

FAQ

1. Can I run other Windows applications on my Chromebook using Wine?

Yes, Wine allows you to run many Windows applications on your Chromebook. However, compatibility may vary, and some applications may not function correctly.

2. Will Thinkorswim Desktop run smoothly on a Chromebook?

While many users report successful installations, performance may vary based on your Chromebook’s specifications and the complexity of the tasks you are performing within Thinkorswim.

3. What if I encounter issues during installation?

If you face challenges, consult TD Ameritrade’s support resources or forums. You can often find solutions or seek help from experienced users and experts.

4. Is there any risk involved in installing a third-party application like Wine?

While Wine is widely used and generally considered safe, it is essential to only download it from official repositories to minimize potential security risks.

5. Can I switch back to Chrome OS from Linux (Beta) at any time?

Yes, you can easily turn off Linux (Beta) in the settings, although doing so will remove all Linux applications, including Thinkorswim Desktop. Be sure to back up any data you wish to keep before doing so.