Is thinkorswim Free?
Charles Schwab's thinkorswim has no platform fee. Schwab offers thinkorswim in multiple versions,
and all of them are free to use with a Schwab account. Standard commissions, contract fees, regulatory fees, market-data fees, and other trading-related costs can still apply.
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 for no-transaction-fee funds; up to $49.95 or $74.95 to buy transaction-fee funds, $0 to sell |
| Futures | $2.25 per contract |
| Treasury bills, notes, bonds, and TIPS | $0 online |
| CDs new issues | $0 |
| Secondary CDs, Corporate Bonds, Municipal Bonds, Government Agencies, and Zero-Coupon Treasuries including STRIPS | $1 per bond/CD, $10 minimum, $250 maximum |
| Preferred Stocks and REITs | $0 |
| Commercial Paper, Foreign Bonds, Asset-Backed Securities, Mortgage-Backed Securities, Collateralized Mortgage Obligations, and Unit Investment Trusts | call for pricing |
| Investments |
stocks, ETFs, OTC equities, options, mutual funds, futures, Treasury issues, bonds, CDs,
preferred stocks, REITs, forex, annuities, and certain foreign securities
|
| Minimum deposit to open an account | $0 for brokerage account; $2,000 in cash or marginable securities to begin margin borrowing |
| Fees | thinkorswim fees |
Downloading the thinkorswim Desktop Version
It’s really easy to download the thinkorswim desktop platform. Simply log into Schwab’s website and click on the Trade tab that appears at the top of the site. In the drop-down menu that appears, click on the link for ‘thinkorswim Desktop.’ Doing so will generate a new page with a link to download the platform. The software is compatible with Linux, Windows, and Mac machines. Schwab also provides instructions for Unix or Unix-like operating systems, although it does not provide official support for configuring those operating systems.
Once installed, logging in is quite easy. Simply use the same login credentials you use for the website. It has two modes: live and paperMoney, which is a simulated-trading environment. It is recommended to spend some time with paperMoney, as this platform is difficult to learn.
Free thinkorswim Platform
Visit thinkorswim Website
thinkorswim in Mobile Version
thinkorswim does come in mobile format. It is compatible with both Android and Apple devices. The relevant app can be downloaded from either app store. Logging in follows the same rules as for the desktop system: use the website credentials and choose live trading or paperMoney where available.
thinkorswim in a Web Browser
The third version of thinkorswim is in web-browser format. To access this platform, head back to the Trade tab we have already visited. This time, select ‘thinkorswim Web.’ Doing so will generate a new web-browser window with the thinkorswim platform. No download is needed this time.
The web-browser version of thinkorswim is trimmed down from the desktop system. Many resources are missing, although Level II quotes, time & sales data, and robust trade tickets are still there.
thinkorswim in web-browser version can also be used with paperMoney. To switch to demo mode, look for the paperMoney tab in the upper-left corner. paperMoney provides $100,000 of virtual buying power to practice with.
Highlights
Level II quotes are available on thinkorswim. Time & sales numbers are on the web-browser and desktop programs. Direct-access routing is available on the desktop system only. Access to real-time market data is conditioned on acceptance of exchange agreements, and fees may apply.
thinkorswim can trade stocks, options, ETFs, futures, forex, and closed-end funds. Futures and forex trading require separate approvals, and not all clients will qualify.
Enabling Live Trading
Schwab clients can access the thinkorswim platform suite with a Schwab account. However, not every account is automatically approved for every trading product. Stocks and ETFs can generally be traded in eligible brokerage accounts, while options, futures, and forex require the proper account permissions and approvals. Futures and forex trading are provided by Charles Schwab Futures and Forex LLC.
Awards
thinkorswim Education
Schwab has built a library of videos that covers all sorts of trading topics that thinkorswim users may want to brush up on. These resources can be found under the Learn tab on the website. Examples we found include:
- Set Up thinkorswim® Desktop for Options Trading
- Customize Platform Appearance
- Stock Trading on paperMoney®
Free thinkorswim Platform
Visit thinkorswim Website
Updated on 7/8/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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