Charles Schwab acquired TD Ameritrade in 2020 and inherited its legendary thinkorswim platform -- the most powerful free trading platform available to retail traders. Sign up: https://www.schwab.com | thinkorswim: https://www.schwab.com/trading/thinkorswim
Schwab runs two separate interfaces:
Schwab.com (web): clean, simple -- for ETF investing and IRA management.
thinkorswim (TOS): professional-grade desktop/mobile -- for active trading.
Use Schwab.com for: buying ETFs, IRA contributions, account overview.
Use thinkorswim for: options, technical analysis, charting, active trading.
Paper trading: trade $100,000 of fake money with real market data.
Best paper trading platform in the industry -- use for 3-6 months first.
thinkScript: write custom indicators and automated stock scanners.
Options analysis: P&L curve visualizer, probability cones, risk graph.
Advanced charting: all major indicators + fully custom ones, drawing tools.
Market scanner: screen thousands of stocks in real time by any criteria.
'On Demand' replay: replay any historical trading day to practice with real past data.
$0 commissions on stocks and ETFs.
Options: $0.65/contract (free to open spreads on Schwab).
No account minimums to open.
Individual brokerage, Roth IRA, Traditional IRA, SEP IRA, Rollover IRA.
Schwab Intelligent Portfolios: free robo-advisor (auto-rebalancing) with $5,000 minimum.
Schwab Bank: attached checking with unlimited worldwide ATM fee refunds.
The thinkorswim mobile app carries most desktop features:
Full charting with all indicators.
Options trading with full Greeks display (Delta, Theta, Gamma, Vega).
Paper trading mode available on mobile.
Available on iOS and Android.
Schwab also has a separate simpler 'Schwab Mobile' app for basic account management.
Related: Choosing a Trading Platform • How to Open a Brokerage Account • Options Greeks -- Delta, Gamma, Theta, Vega, Rho • Day Trading -- What You Must Know First