The acquisition of TD Ameritrade by Charles Schwab brought about a significant shift for many traders, as the popular thinkorswim platform transitioned under the Schwab umbrella. For those familiar with thinkorswim, or even those new to advanced trading, accessing this powerful platform through Charles Schwab is a straightforward process.
This lengthy guide will walk you through every step of accessing thinkorswim, whether you prefer the robust desktop application, the convenient web platform, or the on-the-go mobile app. We'll also cover essential setup tips and address common questions.
Accessing thinkorswim from Charles Schwab: Your Comprehensive Guide
Ready to dive into the world of advanced trading with thinkorswim? Let's get started!
Step 1: Confirm Your Charles Schwab Account Status
Before you can access thinkorswim, you must have an active Charles Schwab brokerage account. If you were a former TD Ameritrade client, your account should have been migrated automatically. If you're new to Schwab, you'll need to open an account first.
- Existing Schwab Clients: Great! You're likely ready to proceed.
- Former TD Ameritrade Clients: Your accounts would have been transitioned. Ensure you have successfully logged into your Schwab.com account with your new Schwab credentials.
- New to Schwab: If you don't have a Schwab account, you'll need to open one. Visit Schwab.com and follow the steps to set up a new brokerage account. This is a prerequisite for accessing thinkorswim through Schwab.
Step 2: Choose Your thinkorswim Platform Flavor
thinkorswim offers three main ways to access its powerful trading tools:
- thinkorswim Desktop: The full-featured, highly customizable powerhouse for serious traders. Requires a download and installation.
- thinkorswim Web: A streamlined, browser-based version, perfect for quick access without installation.
- thinkorswim Mobile: The on-the-go app, bringing many desktop features to your smartphone or tablet.
Consider your trading style and needs to determine which platform is best for you. You can, of course, use all three!
Step 3: Accessing thinkorswim Desktop (The Powerhouse)
The thinkorswim desktop platform offers the most comprehensive set of tools for advanced traders. Here's how to get it running:
Sub-step 3.1: Navigate to the thinkorswim Download Page on Schwab.com
- Log in to Schwab.com: Go to Schwab.com and log in with your Schwab User ID and password.
- Find Trading Platforms: Once logged in, navigate to the "Trade" menu (usually found in the top navigation bar). From the dropdown, select "Trading Platforms" or a similar option that leads to information about their trading tools.
- Locate thinkorswim Desktop: On the trading platforms page, scroll down until you see information about "thinkorswim desktop." There should be a "Download thinkorswim desktop" button or link. Click it! You may need to approve the download depending on your browser settings.
Sub-step 3.2: Install the thinkorswim Desktop Application
- Locate the Downloaded File: Once the download is complete (it will typically be an executable file for Windows or a .dmg file for Mac), find it in your downloads folder and open the installer.
- Follow the Setup Wizard: The Setup Wizard will guide you through the installation process.
- Language Selection: Choose your preferred language (e.g., English) and click "OK."
- Welcome Screen: Click "Next" to proceed.
- Account Provider: This is crucial! When prompted, select "Schwab" as your account provider. Then click "Next."
- License Agreement: Read the license agreement carefully. If you agree, select "I acknowledge, continue with installation" and click "Next."
- Installation Options: Decide if you want to install thinkorswim for a single user or multiple users. Choose your desired installation location on your hard drive. Click "Next."
- Desktop Icon (Optional): You'll usually have an option to "Create desktop icon" for easy access. It's recommended for convenience. Click "Next."
- Installation Progress: The wizard will now install the necessary files. This might take a few minutes. Do not close the window during this process.
- Completion: Once complete, you'll be asked if you'd like to "Run thinkorswim" or "Exit the setup." Select the checkbox for "Run thinkorswim" and click "Finish."
Sub-step 3.3: First-Time Login to thinkorswim Desktop
- Launch thinkorswim: The application will launch and check for any software updates. This ensures you're always using the latest version.
- Login Window: You'll see the thinkorswim login window.
- Live Trading vs. paperMoney®: You can choose between "Live Trading" (for real money trading) or "paperMoney®" (a simulated trading environment for practice with virtual funds). For your first time accessing your live account, select Live Trading.
- Enter Schwab Credentials: Enter your Schwab.com login ID and password. These are the same credentials you use to log in to the Schwab website.
- Log In: Click "Log In."
- Two-Factor Authentication (if applicable): Depending on your account settings, you may be prompted to complete a two-factor authentication step (e.g., a code sent to your phone).
- Workspace Configuration (Optional): The Setup Wizard may offer options for configuring your workspace. You can choose to skip these or customize them now. You can always adjust your workspace later.
Congratulations! You should now be logged into the powerful thinkorswim desktop platform.
Step 4: Accessing thinkorswim Web (Browser-Based Convenience)
For a lighter, no-download experience, thinkorswim Web is an excellent choice.
Sub-step 4.1: Accessing via Schwab.com
- Log in to Schwab.com: Ensure you are logged into your Charles Schwab account on Schwab.com.
- Navigate to thinkorswim Web: From the "Trade" menu on Schwab.com, select "thinkorswim Web."
- New Window: A new browser window or tab will open with thinkorswim Web ready for use. You should automatically be logged in if you were already logged into Schwab.com.
Sub-step 4.2: Direct Access (Alternative)
- Go to the thinkorswim Web URL: You can also directly navigate to trade.thinkorswim.com or thinkorswim.com in your web browser.
- Login: Enter your Schwab.com login ID and password when prompted.
- Two-Factor Authentication (if applicable): Complete any required two-factor authentication.
You'll now be in the streamlined thinkorswim Web interface.
Step 5: Accessing thinkorswim Mobile (Trading On-The-Go)
The thinkorswim mobile app provides a robust trading experience from your smartphone or tablet.
Sub-step 5.1: Download the thinkorswim Mobile App
- Find the App: Open the App Store (for iOS devices) or Google Play Store (for Android devices) on your mobile device.
- Search: Search for "***thinkorswim: Trade. Invest.***" or simply "thinkorswim."
- Download and Install: Tap "Get" or "Install" to download and install the app on your device.
Sub-step 5.2: First-Time Login to thinkorswim Mobile
- Open the App: Once installed, tap the thinkorswim icon to open the app.
- Login Screen: You'll see the login screen.
- Live Trading vs. paperMoney®: Similar to the desktop version, choose between "Live Trading" or "paperMoney®."
- Enter Schwab Credentials: Enter your Schwab.com login ID and password.
- Log In: Tap "Log In."
- Biometric Login (Optional): You may be prompted to enable Face ID or Touch ID for future, quicker logins, depending on your device. This is highly recommended for convenience.
- Welcome Screens & Configuration: You'll likely see a series of welcome screens that help you configure basic settings like themes (light/dark) and initial layout. You can always adjust these later in the app's settings.
- In-App Help: The app often highlights its in-app help features (usually a question mark icon), which can be very useful for learning about specific features.
You are now ready to trade from the palm of your hand!
Step 6: Initial Setup and Customization Tips (Across Platforms)
Once you're logged into any of the thinkorswim platforms, you'll find a wealth of customization options. Here are a few important ones to consider:
Sub-step 6.1: Syncing Across Platforms
One of the great features of thinkorswim is its dynamic syncing. Your watchlists, scans, and many settings often sync across the desktop, web, and mobile platforms.
- Watchlists: Create and modify watchlists on one platform, and they'll often appear on others.
- Studies and Drawings: Chart studies and drawings can also sync, providing a consistent analysis experience.
Sub-step 6.2: Customizing Your Workspace (Desktop & Web)
- Layout: The desktop platform offers immense flexibility to customize your layout with various gadgets, charts, and modules. Drag and drop elements, resize windows, and save your preferred layouts.
- Charts: Explore the extensive charting capabilities. Add studies, drawing tools, and compare multiple timeframes.
- Active Trader: If you're an active trader, familiarize yourself with the "Active Trader" gadget for rapid order entry.
- Order Entry Tools: Learn about different order types (market, limit, stop, OCO, etc.) and how to use them effectively.
Sub-step 6.3: Utilizing paperMoney®
- Practice Makes Perfect: Even experienced traders can benefit from paperMoney®. Use it to test new strategies, explore unfamiliar products (like futures or options), or simply get comfortable with the platform's interface without risking real capital.
- Real-time Data: paperMoney® uses real-time market data, making it a valuable simulation tool.
Step 7: Getting Help and Support
Charles Schwab provides extensive support for thinkorswim users.
- In-Platform Chat: Look for a chat icon or "Support Chat" within the thinkorswim platforms (desktop, web, and mobile). You can often chat with a trading specialist in real-time.
- Phone Support: Charles Schwab offers dedicated phone support for trading platforms. You can find contact numbers on Schwab.com or within the thinkorswim application itself.
- Learning Center/Education: Both Schwab.com and the thinkorswim platforms offer a wealth of educational resources, tutorials, and guides to help you master the platform and trading concepts. Look for sections like "Insights & Education" or "Learning Center."
- Community: Some platforms have in-app chat rooms or communities where you can connect with other traders.
10 Related FAQ Questions
Here are some frequently asked questions about accessing thinkorswim from Charles Schwab, with quick answers:
How to transfer my TD Ameritrade account to Charles Schwab?
Your TD Ameritrade account would have been automatically transitioned to Charles Schwab. You should have received communications regarding your new Schwab account number and login credentials. If you haven't, contact Charles Schwab client services.
How to download the thinkorswim desktop platform?
Log in to Schwab.com, navigate to the "Trade" section, then "Trading Platforms," and look for the "Download thinkorswim desktop" link.
How to log in to thinkorswim with my Schwab account?
Use your Schwab.com User ID and password to log in to any thinkorswim platform (desktop, web, or mobile).
How to use paperMoney® on thinkorswim?
When logging in to any thinkorswim platform, select the "paperMoney®" option instead of "Live Trading." It provides a simulated environment with virtual funds.
How to access thinkorswim web without downloading anything?
Simply go to trade.thinkorswim.com in your web browser and log in with your Schwab credentials, or access it directly from Schwab.com under the "Trade" menu.
How to get the thinkorswim mobile app?
Search for "thinkorswim: Trade. Invest." in your device's App Store (iOS) or Google Play Store (Android) and download it.
How to link external bank accounts to my Schwab account for funding thinkorswim?
Log in to Schwab.com, go to "Move Money," then "Transfers & Payments," and look for options to "Link or delete external bank accounts."
How to get support for thinkorswim issues?
You can use the in-platform chat feature within thinkorswim, call Charles Schwab's client services, or explore the "Help" or "Support" sections within the platforms and on Schwab.com.
How to customize my thinkorswim workspace?
On the desktop platform, you can drag and drop modules, resize windows, and save layouts. On all platforms, you can customize charts, add studies, and modify watchlists.
How to find educational resources for thinkorswim?
Look for "Insights & Education" or "Learning Center" sections on Schwab.com and within the thinkorswim platforms for tutorials, videos, and guides.
