Schwab Trading adds TD Ameritrade Thinkorswim futures and options

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US broker Charles Schwab has completed the integration of the TD Ameritrade trading platform business, which it acquired in 2020. The Thinkorswim technology is now powering the new Schwab Trading account.


The new “thinkorswim” dealing platform, which is part of the Schwab Trading account is customisable and offers what are described as elite-level trading tools to clients.

These include a stock and screener that allows clients to sift through the market looking for stocks that meet their criteria and goals.

The Stock Hacker tool, allows clients to find the stocks and signals that matter most to them whilst filtering out those that don’t. Users can create their own custom filters and alerts using alternative data sets such as technical analysis and options market data.

Another tool called Trade Flash highlights analysts’ upgrades and downgrades, block trades, trade imbalances at the opening and closing of the market and more besides. The thinkorswim platform is available as a download, as a browser-based platform, or as a mobile app.

Thinkorswim has Nasdaq level II data, conditional order types and live financial news on both the desktop and mobile variants. The mobile platform doesn’t have the screening functionality of the desktop or web-based versions, however.

New trading products

The platform offers charting and trader education, but also brings futures and options trading to Schwab clients on one platform, for the first time.

Options trading, including multi-legged trading strategies, are available now, with futures trading scheduled for 2024. There are no mutual funds or fixed-income instruments on the thinkorswim platforms, however.

Additional facilities and help

Additional facilities, accessible via Schwab Trading, include 24/7 support from a desk of product experts, who the broker says can act as a second set of eyes for your trading and offer help and suggestions to clients about structuring complex trades and risk management.

The support team that Schwab calls trading specialists, will help clients to configure the thinkorswim platform to meet their specific needs, via a phone, online chat or even directly in the platform itself.

Thinkorswim looks like a very powerful multi-asset trading platform, the additions of options and futures trading will greatly expand the trading universe for Schwab clients.

Today’s clients want more from their broker and their trading tools, and many retail clients have now become quite sophisticated in their approach to the markets, which of course is what Schwab is banking on.

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