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Thinkorswim Alternatives You Should Consider

If you’re on the hunt for a trading platform similar to Thinkorswim, here are some comparable options to consider.

Charles Schwab’s Thinkorswim is a powerful desktop trading platform with robust research and analysis tools. But it’s not the only professional-grade trading platform on the market. Here are five trading platforms to consider if you’re looking for an alternative to Thinkorswim.

4 Thinkorswim alternatives

E*TRADE

E*TRADE from Morgan Stanley

8.8 Great

Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusGet up to $1,000
terms apply

Interactive Brokers

Interactive Brokers

9.2 Excellent

Go to site Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusN/A

Fidelity

Fidelity Investments

9.2 Excellent

Go to site Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusN/A

Webull

Webull

9.2 Excellent

Earn up to 40 fractional shares and an extra 2% APY for 30 days when you open an account and make an initial deposit of the qualified amount. T&C apply.
Read review
Stock trade fee$0
Minimum deposit$0
Signup bonusEarn up to 40 fractional shares and an extra 2% APY for 30 days

Pros and cons of Thinkorswim

Here’s why Thinkorswim is a top online trading platform and a few reasons why you may want to consider an alternative.

Pros

  • No minimum investment amount
  • Plethora of educational resources
  • Professional research tools

Cons

  • Steep learning curve for beginners
  • Slightly higher commissions than some online brokers
  • No cryptocurrency

How to transfer your brokerage account

The process to switch brokerage firms may vary depending on your current broker and the firm you’re moving to. While there’s no fee to close your account, Charles Schwab charges $75 to initiate a full account transfer to your new broker. Thinkorswim uses the Automated Customer Account Transfer Service (ACATS) to transfer your account. Here’s what the process might look like.

  1. Complete a transfer form with your new broker.
  2. Your current broker authorizes your request within three business days.
  3. Your previous broker completes the transfer and moves your funds within five to eight business days.

Note: Some brokers won’t accept proprietary funds from other brokers.

Compare trading platforms

1 - 12 of 12
Product USFST Finder Score Available asset types Stock trade fee Minimum deposit Key features Offer
OPTO logo
Finder score
Stocks, ETFs
$0
$0
  • Discover emerging trends
  • Invest by theme
  • Design your own stock index
Earn up to $300 when you deposit between $500–$3,000
SoFi Wealth Management logo
Finder score
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
  • Invest, bank, borrow and more
  • SoFi Plus benefits
  • Taxable and retirement accounts
Get up to $1,000 in stock when you fund a new account. T&C apply.
Tastytrade logo
Finder score
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
$0
$0
  • Real-time market insights
  • Live educational shows
  • Professional trading tools
Get $50-$5,000 when you open and fund an account with $2,000 to $1,000,000+
Robinhood logo
Finder score
Stocks, Options, ETFs, Cryptocurrency, Futures
$0
$0
  • Get up to 3% in IRA boosts
  • Get 4% APY on cash with Gold
  • Active trading tools
Get a free stock when you successfully sign up and link your bank account.
Zacks Trade logo
Finder score
Stocks, Bonds, Mutual funds, ETFs, CDs
$0.01
$250
  • Low margin rates
  • Customizable trading platforms
  • Professional trading tools
Get up to $500 when you open and fund an account. Terms apply.
Interactive Brokers logo
Finder score
Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures, Forex, Treasury Bills
$0
$0
  • Active and robo investing
  • Global market access
  • Professional trading tools
Public logo
Finder score
Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Treasury Bills, High-yield cash account
$0
$0
  • Lock in a 6.8% bond account yield
  • Earn rebates on options trades
  • Earn 4.1% APY on your cash
Get up to $10,000 and transfer fees covered when you move your portfolio to Public.
Acorns logo
Finder score
Stocks, ETFs
$0
$0
  • Invest spare change
  • Get a 3% IRA contribution match
  • Invest and bank
Get a $20 bonus when you set up an account and make your first recurring investment (min. $5).
Stash Investments LLC logo
Finder score
Stocks, ETFs
$0
$0
  • Invest and bank
  • Active and robo investing
  • Invest spare change
Get $10 when you sign up and deposit $5.
Wealthfront logo
Finder score
Stocks, ETFs
$0
$500
  • Earn 4% APY on your cash
  • Active and robo investing
  • Automated bond investing
Get a $50 bonus when you sign up and fund a taxable automated investing account with at least $500.
JPMorgan logo
Finder score
Mutual funds, ETFs
$0
$25,000
  • Personalized financial planning
  • Get an expert-built portfolio
  • Ongoing advice
M1 Finance logo
Finder score
Stocks, ETFs, Cryptocurrency
$0
$100
  • Earn 4% APY on your cash
  • Active investing with automated tools
  • Low margin rates
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What is the Finder Score?

The Finder Score crunches 147 key metrics we collected directly from 18+ brokers and assessed each provider’s performance based on nine different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the best brokerage accounts.

We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

Read the full Finder Score breakdown

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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Written by

Writer

Kimberly Ellis is a personal finance writer at Finder, specializing in banking and financial literacy. After teaching in public and private schools, Kimberly zeroed in on personal financial education to help families and kids develop lifelong money skills. She hails from New York City, graduating summa cum laude from Queens College with a BA in elementary education and mathematics, as well as a New York State teaching certificate. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick. See full bio

Kimberly's expertise
Kimberly has written 74 Finder guides across topics including:
  • Kids' banking
  • Financial literacy for kids
  • K–12 education

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