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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.

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Kimberly Ellis

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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

8.6 Great

Read review

E*TRADE's equivalent to Charles Schwab's Thinkorswim platform is the E*TRADE Pro. This advanced desktop platform is designed for professionals and gives you access to real-time quotes, including Level II data. Customize your layouts and charts with over 100 technical studies and helpful drawing tools.

Stay connected to your brokerage account on E*TRADE's web-based platform, Power E*TRADE, which has no account minimums or trading requirements. And unlike the Thinkorswim app, the E*TRADE app lets you trade mutual funds.

Annual fee$0 per year
Minimum deposit$0
Signup bonusGet up to $1,000
terms apply

Interactive Brokers

Interactive Brokers

9.4 Excellent

Go to site Read review
Interactive Brokers has a sophisticated, customizable desktop platform called Trader Workstation. Use its robust scanners to search for securities, including over 100 technical studies and useful drawing tools. And you can test drive your trading strategies without risking your dough with Interactive Brokers' paper trading.
What sets Trader Workstation apart from Thinkorswim is the ability to trade bonds. And its margin interest rates are between 0.86% and 1.59%, which are significantly lower than Charles Schwab's 7.50% to 9.50%. But to sign up for an account, you'll need a net worth of $20,000.
Annual fee$0 per year
Minimum deposit$0
Signup bonusN/A

Fidelity

Fidelity Investments

9 Excellent

Go to site Read review

Fidelity's Active Trader Pro is a customizable desktop platform that gives you access to 6,000 stocks and ETFs. You can find trading opportunities using your own search criteria or get recommendations from independent firms that match your investing style.
What sets Fidelity apart from Thinkorswim is its generous option search tools to help you identify single and multi-leg option trades. You can filter by strategy, including calls and puts, or dive into its statistics window to learn about market volume and volatility. But to use its desktop platform, you'll need to trade at least 36 times in a rolling 12-month period.
Annual fee$0 per year
Minimum deposit$0
Signup bonusN/A

Webull

Webull

9.4 Excellent

Limited-Time Offer. Deposit or transfer funds to earn: Get a 2% match and up to 8.1% boosted APY, plus a $100 cash bonus and a 30-day Webull Premium subscription voucher. T&C apply.
Go to site Read review

Webull is a discount brokerage with a strong lineup of analysis research and tools, including technical studies, drawing tools and real-time market data. Its charting capabilities are sophisticated enough for most traders but may not be technical enough for professionals. For example, Webull only offers about 35 technical studies, which is a drop in the bucket compared to Thinkorswim's 400 technical studies.
Trading cryptocurrency and its user-friendly mobile app are what makes Webull a good alternative to Thinkorswim. Many Redditors praise Webull's mobile app over Thinkorswim's offering, citing better features and layout.
Annual fee$0 per month
Minimum deposit$0
Signup bonusGet a 2% match and a $100 cash bonus

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

11 of 11
Product Finder Score Available asset types Stock trade fee Minimum deposit Cash sweep APY Offer
Finder score
9 Excellent
Stocks, ETFs, High-yield cash account
$0
$500
4.00%
Get a $50 bonus when you sign up and fund a taxable automated investing account with at least $500.
Automate your stock and bond portfolio or trade individual stocks for as little as $1 apiece. Plus, earn 4% APY on your cash.
Go to site More info
Finder score
9 Excellent
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.01%
Get up to $1,000 in stock when you open and fund a new account. T&C apply.
Trade stocks, ETFs, and options with zero commissions, invest in IPOs or automate your portfolio, with exclusive perks available through SoFi Plus.
Go to site More info
Finder score
9 Excellent
Stocks, Bonds, Options, ETFs, Cryptocurrency, Investments, Retirement, Treasury Bills, High-yield cash account
$0
$0
4.1%
Get up to $10,000 and transfer fees covered when you move your portfolio to Public.
Build a diversified portfolio of stocks, bonds, options, ETFs and crypto, with a high-yield cash account and options contract rebates.
Go to site More info
OPTO logo
Finder score
7.2 Great
OPTO
Finder score
7.2 Great
Stocks, ETFs
$0
$0
4%
Earn up to $300 when you deposit between $2,000–$25,000+.
Copy top-performing portfolios or build your own stock index on Opto's AI-driven thematic investing platform, and get 4% APY on your cash.
Go to site More info
Interactive Brokers logo
Finder score
9.2 Excellent
Interactive Brokers GlobalTrader
Finder score
9.2 Excellent
Stocks, Options, Mutual funds, ETFs, Cryptocurrency
$0
$0
3.83% Lite
4.83% Pro
Trade in a simulated trading environment and access a wide range of tradable assets.
Go to site More info
eToro logo
Finder score
8.2 Great
eToro
Finder score
8.2 Great
Stocks, Options, ETFs, Cryptocurrency, Futures, Investments
$0
$0
3.9%
No commission stock, ETF and options trades, with 3.9% interest on your options account balance and no options contract fees. See full disclosure.
Go to site More info
Webull logo
Finder score
9.4 Excellent
Webull
Finder score
9.4 Excellent
Stocks, Bonds, Options, ETFs, Futures, Money market funds
$0
$0
Up to 8.10%
Trade stocks, ETFs and equity options commission-free, with access to futures, advanced charting tools, a robo-advisor and event trading powered by Kalshi.
Go to site More info
Zacks Trade logo
Finder score
8.2 Great
Zacks Trade
Finder score
8.2 Great
Stocks, Bonds, Options, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Get up to $1,000 when you open and fund an account. Terms apply.
Leverage powerful trading tools and low margin rates to trade stocks, options, ETFs, mutual funds and bonds.
Go to site More info
Robinhood logo
Finder score
9.4 Excellent
Robinhood
Finder score
9.4 Excellent
Stocks, Options, ETFs, Cryptocurrency, Futures, Event contracts, High-yield cash account
$0
$0
4%
Get a free stock when you successfully sign up and link your bank account.
Trade stocks, options, crypto and more, with advanced trading tools, fractional shares and exclusive perks for Gold members.
Go to site More info
Acorns logo
Finder score
8 Great
Acorns
Finder score
8 Great
Stocks, ETFs
$0
$0
N/A
Get a $20 bonus when you set up an account and make your first recurring investment (min. $5).
Automate investing with recurring contributions starting at $5 and invest spare change from everyday purchases.
Go to site More info
Stash Investments LLC logo
Finder score
7.4 Great
Stash
Finder score
7.4 Great
Stocks, ETFs
$0
$0
0.1%
Get $5 when you sign up and deposit $5.
Bank, automate your portfolio or invest in individual stocks and ETFs for as low as $3 per month.
Go to site More info
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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

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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 59 Finder guides across topics including:
  • Kids' banking
  • Financial literacy for kids
  • K–12 education
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