Schwab Introduces Schwab Trading Powered by Ameritrade™, Setting a New Standard for the Retail Trading Experience
- Schwab Trading Powered by Ameritrade combines the award-winning thinkorswim trading platforms with Schwab's trading capabilities on Schwab.com and Schwab Mobile, creating a superior trading experience.
- Clients can trade equities, derivatives, and ETFs on the thinkorswim platforms. The thinkScript programming language allows for extensive customization, and the thinkorswim community enables traders to share ideas and insights.
- Schwab has enhanced trading features and functionality on Schwab.com and Schwab Mobile, including SnapTicket and streaming market data, to provide clients with more flexibility and real-time information.
- The new education experience incorporates elements from TD Ameritrade's education offer, with a digital library of articles, videos, courses, coaching, and other resources to support clients in their investing journeys.
- Schwab Trading Powered by Ameritrade offers specialized support from experienced professionals, including Schwab's Trade Desk and Active Trader Financial Consultants, who can assist with complex trading strategies and provide coaching.
- Trading has accounted for approximately one-fifth of Schwab's revenue over the past two years, highlighting the importance of trading to the company's overall business.
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Combination of the thinkorswim® and Schwab Trading Platforms, Extensive Trading Education and Specialized Service Brings Together the Best of Schwab and TD Ameritrade’s Trading Offers
(Graphic: Business Wire)
“When you’re backed by robust, innovative trading technology, it makes a difference – and that applies to both sophisticated traders as well as those who are just starting out,” said James Kostulias, Managing Director and Head of Trading Services at Charles Schwab. “Schwab Trading Powered by Ameritrade is much more than just the merging of great trading functionality that already existed at Schwab and TD Ameritrade. It’s a super-charged, holistic retail trading experience that surpasses its predecessors and makes Schwab the clear destination for trading.”
Industry-Leading Trading Platforms
At the core of Schwab Trading Powered by Ameritrade is the thinkorswim platform suite and its highly popular paperMoney® trading simulator. Long lauded by industry experts for the depth and breadth of its trading capabilities, the thinkorswim platforms provide powerful charting and analytics tools, trader-friendly navigation, and extensive customization.
The thinkorswim platform suite includes:
- thinkorswim desktop: Fully customizable software that offers access to elite trading tools to test strategies, develop new ideas, and execute even the most complex trades.
- thinkorswim mobile: A secure platform natively built for mobile devices that offers the features and power of thinkorswim’s desktop platform while on-the-go.
- thinkorswim web: Web-based software that features a streamlined trading experience with the most essential tools and strategies, available in-browser with no download necessary.
Among many more, the following key features are available on the thinkorswim platforms:
- Clients can trade an array of products, including equities, select derivatives, and ETFs.
- The thinkScript® programming language powers extensive customization, allowing clients to build their own order entry and strategic testing algorithms to see how various scenarios could play out. (Available on thinkorswim desktop and mobile.)
- Charting with thinkorswim allows clients to pull from a wide array of technical studies, including basic support, resistance, candlestick, and profile charts as well as sophisticated charts like monkey bars and renko charts alongside up to 20 drawings with eight Fibonacci tools.
- The thinkorswim community allows clients to share ideas and insights with other passionate traders via in-platform chat rooms. (Available on thinkorswim desktop and mobile.)
- The paperMoney trading simulator allows traders to test strategies and place trades without monetary risk.
In addition to making thinkorswim available to all clients, Schwab has also rolled out an ongoing series of meaningful enhancements to trading features and functionality on Schwab.com and Schwab Mobile to give clients the flexibility to trade the way they want. Recent additions include SnapTicket®, an order ticket that allows clients to enter orders directly from the most frequently visited Schwab.com pages , and streaming market data on trade tickets, watchlists, options chains, and order status via web and mobile to help clients stay informed of the latest market moves in real-time.
Comprehensive Tailored Education Experience
Education plays a critical role in helping clients learn and implement strategies, manage their investments, navigate platforms, and stay on top of market news and economic events. Knowing this, Schwab has made significant investments in ensuring clients have access to wide-ranging Insights & Education experiences in their channel of choice.
This new education experience from Schwab incorporates many beloved elements of TD Ameritrade’s education offer, including an extensive digital library of articles, videos, podcasts, live events, courses, learning paths, coaching, and other helpful resources to help support clients through their investing journeys.
In a sign of Schwab’s commitment to trader education, the firm recently released an extensive library of content including an array of helpful explainers about the thinkorswim platforms, new trading-centric online courses, learning paths and much more. Additionally, the firm launched Schwab Coaching™, which connects clients with experienced Education Coaches in one-to-many interactive webcasts, allowing them essentially to “watch over the shoulder” of these professionals as they demonstrate concepts and strategies on Schwab’s trading platforms.
Support for Traders, by Traders
Schwab Trading Powered by Ameritrade also features specialized support from experienced professionals with Schwab’s Trade Desk, which includes former floor traders. Trade Desk professionals are well versed in traders’ unique needs and equipped with the knowledge of how to set up even the most complex trading strategies.
Trading support is available long after the market closes. Clients can connect with teams in-platform, via social media or in branch locations. Service support and expertise ranges from helping clients learn the ins and outs of platforms to providing a simple gut check to help clients better understand the potential gains or losses of a trade. Additionally, Schwab’s virtual Active Trader Branch includes Active Trader Financial Consultants who focus on trader “coaching” and wealth management to help meet the unique needs of qualifying traders.
“We’ve achieved an important, highly anticipated milestone in the integration with the broad availability of thinkorswim,” said Kostulias. “Trading is a huge focus for us at Schwab and represents a critical part of our overall business as we go forward. Trading has accounted for approximately one-fifth of Schwab’s revenue over the past two years, and across Schwab and TD Ameritrade, average net new assets among Trader households are about six-and-a-half times higher than non-trader households. We are excited to be able to offer traders an innovative experience at Schwab that combines the full breadth of wealth management that Schwab offers alongside award-winning trading platforms, tailored education and the incredible support that is at the heart of TD Ameritrade’s legacy.”
Traders at Schwab have access to the company’s full range of affiliate wealth management, banking, financial advisory services, and more. For more on Schwab Trading Powered by Ameritrade, including how to get started, visit www.schwab.com/trading.
About Charles Schwab
At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
More information is available at aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.
Disclosures
Investing involves risk including loss of principal.
Charles Schwab & Co., Inc. ("Schwab") and TD Ameritrade, Inc., members SIPC, are separate but affiliated subsidiaries of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
The paperMoney® software application is provided for educational purposes only, and allows users to engage in simulated trading with hypothetical funds using live market data. Market activity, trade executions, transaction costs, and other elements presented in paperMoney are simulations only. Simulated performance does not ensure success in a live environment.
1023-3JJJ
View source version on businesswire.com: https://www.businesswire.com/news/home/20231016718804/en/
Margaret Farrell
Charles Schwab
(203) 434-2240
Margaret.farrell@schwab.com
Source: The Charles Schwab Corporation
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