Worries about Thinkorswim's future have heated up ever since Charles Schwab bought TD Ameritrade. But Schwab is working to show the popular trading platform is alive and well.
Schwab, No. 1 in IBD's Best Online Brokers survey, this week announced it's migrating Thinkorswim to Schwab's platform later in 2023. But as part of the migration, Schwab is pointing out it made a series of enhancements to the Thinkorswim platform in late 2022.
The upgrades are somewhat noteworthy. But even more important is what the investment says in terms of Schwab's commitment to the unique, professional-grade trading platform popular with sophisticated individual investors. Investors have worried Schwab might unplug Thinkorswim following the merger. Schwab says that's not the case.
"These latest enhancements to the thinkorswim product suite are a reflection of our commitment to deliver new functionality that traders want," said Barry Metzger, Head of Trading and Education, Charles Schwab.
Showing Thinkorswim Is Alive
The timing for the Thinkorswim improvements is uncanny and reassuring. Former TD Ameritrade customers are now getting notified their accounts will migrate to Schwab. Thinkorswim itself is also moving this year, Schwab says.
"We are working diligently to ensure a successful transition for TD Ameritrade clients moving to Schwab, while at the same time delivering innovation that ensures the best possible trading experience on thinkorswim," Metzger said. "In addition to our focus on all of the necessary back-end work to keep things running smoothly for clients throughout the integration."
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What were the Thinkorswim enhancements?
How Thinkorswim Is Changing
Enhancements were added to Thinkorswim's three versions, desktop, mobile and Web.
Thinkorswim Desktop added new ways to search for news. There's also a new Gann Fans drawing tool. The tool helps chartists find trends.
For the mobile version of Thinkorswim, investors picked up the ability to tailor their order ticket. Also, your order types set on mobile will be shared with Web and desktop versions.
And for the Web, investors pick up a new way to see dividends paid by stocks display on charts. There's also a new option spread view. And the filtering and screening tool lets investors add their own criteria.
Investors hope Schwab's investments in their beloved Thinkorswim demonstrate its commitment.
Follow Matt Krantz on Twitter @mattkrantz
