Charles Schwab launches trading platform powered by Ameritrade
Schwab Trading Powered by Ameritrade includes an array of products for trading, including equities, select derivatives, and ETFs. Additional features, such as SnapTicket, and real-time streaming data have also been incorporated into Schwab.com and Schwab Mobile to keep traders informed and agile.
Charles Schwab is once again making headlines, this time for unveiling its latest trading platform: Schwab Trading Powered by Ameritrade.
The platform is a result of the collaboration between Schwab and TD Ameritrade, two of the most innovative players in the financial sector.
“A super-charged, holistic retail trading experience”
According to James Kostulias, Managing Director and Head of Trading Services at Charles Schwab, the new platform is more than a mere merger of existing features.
“Schwab Trading Powered by Ameritrade is much more than just the merging of great trading functionality that already existed at Schwab and TD Ameritrade. It’s a super-charged, holistic retail trading experience that surpasses its predecessors and makes Schwab the clear destination for trading,” Kostulias said.
At the center of this initiative is the thinkorswim trading platform, which comes in three different formats: desktop, mobile, and web. The platform boasts a wide range of features, including a paperMoney® trading simulator, powerful charting tools, and a unique programming language known as thinkScript® that allows for extensive customization.
Trading offering includes equities, select derivatives, and ETFs
The new platform includes an array of products for trading, including equities, select derivatives, and ETFs. Additional features, such as SnapTicket, and real-time streaming data have also been incorporated into Schwab.com and Schwab Mobile to keep traders informed and agile.
Schwab has doubled down on education by providing an extensive digital library, webcasts, courses, and other resources, including a new feature called Schwab Coaching™. This offers interactive sessions with experienced Education Coaches to guide traders on the platform’s capabilities.
The platform also comes with specialized support through Schwab’s Trade Desk, which is manned by professionals, including former floor traders. The level of expertise they bring is aimed at meeting the specific needs of traders who may be dealing with complex strategies.
“Trading is a huge focus for us at Schwab and represents a critical part of our overall business as we go forward,” Kostulias added. Trading accounts for roughly one-fifth of Schwab’s revenue, and trader households tend to bring in assets that are six-and-a-half times higher than those of non-trader households.
The launch of Schwab Trading Powered by Ameritrade aims to create an all-encompassing trading environment that caters to both experienced and novice traders.