thinkorswim
By Charles Schwab
Charles Schwab, the parent company of thinkorswim, is one of the world's largest financial services providers with trillions of dollars in client assets. The thinkorswim platform itself has been the 'trader's choice' for over two decades, known for bridging the gap between retail accessibility and institutional power. Schwab's strategic acquisition of TD Ameritrade was largely driven by the desire to own thinkorswim's elite technology and deep trader community. Today, the company stands as a market leader in the 'self-directed' brokerage space, competing directly with firms like Fidelity and E*TRADE by offering a more robust technical toolkit for active day traders and options strategists.
thinkorswim was founded in 1999 by Tom Sosnoff and Scott Sheridan, two former floor traders from the Chicago Board Options Exchange (CBOE). The original vision was to build a platform that empowered retail investors to trade options with the same sophistication as market makers. Headquartered in Chicago, the firm quickly gained a cult-like following due to its focus on trader education and community. Sosnoff and his team were pioneers in electronic options trading, eventually attracting a $10 million investment from National Australia Bank (of which they only used $1.5 million before buying them out). The company's DNA remains rooted in the 'by traders, for traders' philosophy.
The company's financial history is defined by major acquisitions. After its initial successful growth, thinkorswim was acquired by Investools in 2007. Just two years later, in 2009, TD Ameritrade purchased the group for approximately $606 million in cash and stock (valued closer to $750 million at close). This acquisition integrated TOS into the TD Ameritrade brand, where it became the flagship platform. In October 2020, Charles Schwab announced a massive $26 billion all-stock acquisition of TD Ameritrade. This deal brought thinkorswim under the Schwab umbrella, with a multi-year migration process that concluded in May 2024, making it the primary trading tool for Schwab's global client base.
thinkorswim is offered as a triple-threat platform suite: Desktop, Web, and Mobile. The Desktop version is the flagship, featuring heavy-duty processing power for hundreds of technical indicators and the Flexible Grid layout. thinkorswim Web is a streamlined, browser-based version designed for speed and ease of use without sacrificing essential tools like charting and options chains. thinkorswim Mobile is one of the highest-rated trading apps, offering nearly all the functionality of the desktop version, including multi-leg orders and complex analysis tools, optimized for touch interfaces. The suite also includes 'thinkpipes', a version designed specifically for Registered Investment Advisors (RIAs).
Historically a U.S.-focused platform, thinkorswim expanded its reach under TD Ameritrade and now Schwab. It has established a significant presence in international markets such as Hong Kong and Singapore. Following the Schwab merger, the company has focused on localizing support and expanding 24/5 trading capabilities to a broader global audience. While physically headquartered in Westlake, Texas, the platform serves millions of international clients, allowing them to access U.S. capital markets. The company continues to expand its 'Guest Pass' program globally, allowing non-U.S. residents to trial the platform in a simulated environment.
In the last 12-18 months, thinkorswim has seen significant updates as part of its transition to Charles Schwab. Notable additions include 'Tax Lot Exceptions', allowing traders to change cost-basis methods per trade directly in the order ticket. The platform expanded its 24/5 trading list to over 1,100 stocks and ETFs. New in 2025 are 'Custom Column Sets' that allow users to save and apply specific data views across all watchlists. Additionally, the mobile app received enhanced 'Cash and Sweep Vehicle History' ledgers and the desktop version added more granular account display controls to manage complex household views.
The culture of thinkorswim is a blend of Schwab's 'modern wealth management' and the original 'renegade trader' spirit of its founders. Schwab emphasizes a 'Satisfaction Guarantee' and a client-first service model. However, the thinkorswim team maintains a distinct sub-culture focused on technical excellence and financial education. This is evident in their 'Schwab Coaching' sessions and the irreverent, high-energy educational videos that remain a staple of the platform's brand. The company values transparency, often hosting open forums where traders can suggest features directly to developers.
The thinkorswim community is one of the most active in the fintech world. It centers around 'useThinkScript', a massive third-party forum where thousands of users share custom code and trading strategies. Schwab supports this ecosystem with the 'Learning Center', a comprehensive documentation hub, and 'Schwab Network', a streaming financial news service. The community also congregates in in-platform chat rooms and at major annual conferences where Schwab specialists provide live demos and strategy workshops. Certification programs and structured 'learning paths' help move users from novice to advanced 'thinkScript' developers.
