Is thinkorswim Free?
Charles Schwab's thinkorswim is a FREE advanced trading platform suite for Schwab clients that comes with no separate platform fee and no minimum funding requirement to get started. It is available in multiple versions, and all of them are free to access.
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 ‘Trading Platforms.’ Doing so will generate a new page with a link to download thinkorswim desktop. The software is compatible with Linux, Windows, and Mac machines. It’s possible with a little elbow grease to run the software on Unix or Unix-like operating systems as well.
Once installed, logging in is quite easy. Simply use the same login credentials you use for the website. It does have 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 specify live or practice trading).
thinkorswim in a Web Browser
The third and final version of thinkorswim is in web-browser format. To access this platform, go to trade.thinkorswim.com and log in with your Schwab account. 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 two robust trade tickets are still there.
thinkorswim in web-browser version will automatically begin in live mode. To switch to demo mode, look for the paperMoney tab in the upper-left corner. Clicking on this button will generate $100,000 of virtual buying power to practice with.
Highlights
Level II quotes are available across the thinkorswim suite. Time & sales numbers are on the web-browser and desktop programs. The desktop system has the strongest routing controls. Schwab does not charge a separate platform fee for any of these features, although normal trade pricing still applies.
thinkorswim can trade stocks, options, ETFs, futures, and forex.
Enabling Live Trading
Although any eligible account can log into any version of thinkorswim, some accounts do have to be enabled before they can place live trades. This is easy enough to do on the website. Just go back to the Trade tab and then the Trading Platforms page. If your account needs activation, Schwab will show the extra instructions there. It’s possible to enable some accounts but not others for thinkorswim, depending on account type.
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 (look for the link for thinkorswim demos). 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 4/7/2026.
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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