Is thinkorswim Free?
Charles Schwab’s thinkorswim is a FREE advanced trading platform with no fees or account requirements. It comes in several versions, and all of them are free to use.
Thinkorswim Commissions
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 |
| Stocks and ETFs broker assisted | $25 |
| US Over-The-Counter (OTC) Equities | $6.95 |
| Options | $0.65 per contract |
| Mutual funds | $0/$49.95/$74.95 to buy, $0 to sell |
| Futures | $2.25 per contract |
| CDs, Corporate Bonds, Municipal Bonds, Government Agencies, Zero-Coupon Treasuries, including STRIPS and Mortgage-Backed Securities | $1 per bond, $10 minimum, $250 maximum |
| Preferred Stocks and REITs | $0 |
| Commercial Paper and Foreign Bonds, Unit Investment Trusts | call for pricing |
| Investments |
stocks, bonds, mutual funds, futures, Treasury issues, options, CDs, insurance, ETFs,
forex, annuities, non-U.S. securities and ADRs, WEBs and Canadian foreign orders
|
| Charles Schwab minimum deposit to open account | $0 for cash account, $2,000 for margin account |
| Fees | Thinkorswim fees |
Downloading the thinkorswim Desktop Version
It’s very simple to download the thinkorswim desktop platform. Log in to Schwab’s website and click the Trade tab at the top. From the menu that opens, choose ‘thinkorswim Desktop.’ This takes you to a new page with a link to download the software. It works on Linux, Windows, and Mac computers. With some extra effort, you can also run it on Unix or Unix-like systems.
After installing, logging in is easy. Use the same login details as on the Schwab website. The platform has two modes: live trading and paperMoney, which is a practice mode. It’s best to spend time in paperMoney first because the platform can be challenging to learn.
Free thinkorswim Platform
Visit Thinkorswim Website
thinkorswim in Mobile Version
thinkorswim also has a mobile version that works on both Android and Apple devices. You can download it from either app store. Logging in is the same as on desktop—use your Schwab credentials and choose live or paperMoney mode.
thinkorswim in a Web Browser
The last version of thinkorswim runs in a web browser. To open it, go to the Trade tab again and choose ‘thinkorswim Web.’ A new browser window will open with the platform. No download is required.
The web version is simpler than the desktop one. Some tools are missing, but it still has Level II quotes, time & sales data, and two full trade tickets.
The web version automatically starts in live mode. To switch to practice mode, click the paperMoney tab in the top-left corner. It will load $200,000 in virtual money for demo trading.
Highlights
Level II quotes are available on all thinkorswim versions. Time & sales data appear on the web and desktop platforms. Direct-access routing is offered only on the desktop version. Schwab doesn’t charge for any of these tools, and no signup is needed.
thinkorswim supports trading of stocks, options, ETFs, futures, forex, and closed-end funds.
Enabling Live Trading
Any account can log into any version of thinkorswim, but to make live trades, the account must be enabled for it. This is simple to do on the website. Return to the ‘thinkorswim Desktop’ page and look for the blue button in the middle that says Enable thinkorswim. Click it and follow the steps. Some accounts can be enabled while others cannot. By default, all accounts are enabled for Thinkorswim, which is the older platform.
Awards
thinkorswim Education
Schwab provides a large set of videos covering many trading topics for thinkorswim users. You can find them under the Learn tab on the website (look for thinkorswim demos). Examples include:
- Set Up thinkorswim® Desktop for Options Trading
- Customize Platform Appearance
- Stock Trading on paperMoney®
Free Charles Schwab/thinkorswim Account
Visit Thinkorswim Website
Updated on 10/7/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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