Thinkorswim Review (2025): Is This Trading Platform Worth It?

Thinkorswim (ToS) is an advanced trading platform developed by TD Ameritrade and now offered by Charles Schwab. It’s a go-to choice for active traders, and Schwab wisely retained it post-merger. After years of development and testing, this comprehensive Thinkorswim review reveals why traders consider it essential.

It is widely regarded as one of the most feature-packed stock trading platforms available.

Charles Schwab has ensured this trading platform remains a flagship product, packed with exceptional market analysis capabilities, real-time data streaming, and professional-grade research tools. Our thorough Thinkorswim review discovered that while the platform excels in functionality, new users might need time to master its features.

Are you tired of juggling multiple trading platforms and paying excessive fees for your trading needs?

If so, you might find a lot to love in what Schwab brings to the table with Thinkorswim.

With its updated pricing structure and comprehensive tools, it’s clear this platform offers more than many specialized trading services.

Although not exclusively a day-trading platform, it’s packed with features short-term traders will appreciate. Thinkorswim is primarily a desktop platform, so your first step is downloading and installing the software.

In this honest Thinkorswim review, I’ll share my own experiences with the platform. We’ll dive deep into its key features and benefits and show you how they can actually help you succeed in the market.

What is ThinkorSwim? 

Thinkorswim is an electronic trading platform designed for active investors and professional traders and owned by Charles Schwab – one of the biggest 4 brokerage trading firms in the US, managing $10.31 trillion in assets.

The ToS software was originally developed by a team of experts led by Tom Sosnoff in 1999 and was eventually acquired by TD Ameritrade in 2009. In 2022, Charles Schwab completed its acquisition of TD Ameritrade, and the transition of Thinkorswim to Schwab was finalized in 2023.

ThinkorSwim Key Features and Tools

Thinkorswim runs seamlessly across desktop, web, and mobile platforms. Each version offers dedicated trading capabilities. The mobile experience provides essential features while maintaining the platform’s core functionality.

Charting Capabilities

Let’s dive into Thinkorswim’s impressive charting system, which serves as the backbone for technical analysis. We’ve discovered over 400 technical indicators available. This represents an industry-leading selection of analytical tools.

Common indicators include:

• Moving Average Convergence
• Bollinger Bands
• Volume Profile
• Momentum Oscillators
• Relative Strength Index

But that’s just the beginning – Thinkorswim enables direct trading capabilities right from your charts. This integration streamlines your trading workflow significantly.

You can easily expand any chart into fullscreen mode for detailed analysis. This enhances visibility significantly. Time intervals range from microseconds to decades. During our evaluation period, we tracked historical data for major stocks dating back to the 1980s.

While many traders prefer traditional candlesticks, you can also choose from:

• Point and Figure
• Volume Profile
• Range Bars
• Renko Charts
• Time Cycles
• Price Action
• Line Charts
• Mountain View
• Multiple Time Frames

Thinkorswim’s customization options seem practically limitless. From advanced color schemes to dynamic scaling options, and corporate action overlays, the platform offers incredible depth.

Order Types

The trading interface deserves special attention, packed with features that both day traders and investors will appreciate. The platform supports various order routing options and includes sophisticated order types such as:

• Standard Market
• Advanced Limit
• Dynamic Stops
• Smart Trailing
• Conditional Orders
• Time-Based Orders
• Multi-Leg Options
• Bracket Orders
• And beyond…

Research Capabilities

Thinkorswim excels in providing comprehensive research tools. Under the platform’s Analysis section, you’ll find powerful screening capabilities. The “Scanner” feature allows filtering based on multiple parameters

Real-time economic indicators are fully integrated into the Thinkorswim platform.

Learning Resources

For traders seeking to enhance their skills, Thinkorswim offers comprehensive educational content. Located in the Learning Center, these resources provide invaluable insights for traders of all levels.

For advanced users, Thinkorswim even provides the capability to develop and implement custom technical indicators.

What can you trade on ThinkorSwim?

Thinkorswim stands out as a versatile platform offering access to virtually every tradable market. Not only can you trade stocks, futures, forex, ETFs, and options, but you’ll also find powerful analytical tools.

Thinkorswim provides commission-free trading on stocks and ETFs, along with access to thousands of mutual funds. You can also trade futures on commodities, metals, energy, indices, and other key financial instruments.

Thinkorswim remains a top choice for traders looking for extensive market access.

ThinkorSwim Pricing & Fees

Using Thinkorswim is completely free with a Schwab account. The platform is included at no extra cost, you just need to open a brokerage account with Charles Schwab which you can do HERE. Trading fees follow Charles Schwab’s standard commission structure. Basic trades like stocks and ETFs are commission-free.

The main costs you’ll encounter are contract fees for derivatives trading ($0.65 for options, $2.25 for futures).

In a move that makes Thinkorswim even more attractive, Charles Schwab has reduced fees across multiple asset classes.

• Trade stocks, ETFs, and most mutual funds with zero commission.
• Options trading costs only $0.65 per contract with no base fee.
• Each futures contract costs $2.25 per side.
• Forex trading costs are built into the spread.

Who Should Use ThinkorSwim?

Thinkorswim is ideal for traders and investors who want a professional-grade trading experience. But with its vast selection of tools and research features, seasoned traders will benefit just as much as stock beginner traders.

It is highly customizable. You can trade with simple order types or use complex strategies with advanced automation. Charles Schwab serves over 36 million clients, so it’s no surprise that many traders rely on this platform.

Thinkorswim is available at no cost to anyone with a Schwab account. If you focus on stocks and ETFs and want cutting-edge tools, Thinkorswim is absolutely worth exploring. 

ThinkorSwim Review Final Verdict

Thinkorswim competes with the best trading platforms available for active and professional traders. With $0 commissions on many trades, Charles Schwab delivers a strong offering that’s tough to beat.

The surge in retail trading, options strategies, and market speculation in recent years—fueled by Reddit, meme stocks, and social media—has brought many new investors into trading. But you don’t need years of experience to start using Thinkorswim. You can sign up for a Paper Money demo account to try out the platform risk-free before trading with real capital.