TD Ameritrade was one of the largest US retail brokers, known for its thinkorswim platform, commission-free trading, and powerful options tools. Founded in 1971 as First Omaha Securities and later renamed TD Ameritrade, the broker served tens of millions of clients before being acquired by Charles Schwab in 2020 and fully migrated in September 2023. The thinkorswim platform lives on under Schwab.
A comprehensive look at TD Ameritrade's regulatory history and the full timeline of its merger with Charles Schwab.
TD Ameritrade was regulated by the SEC and FINRA as a registered broker-dealer. These registrations have been transferred to Charles Schwab.
TD Ameritrade was a SIPC member providing up to $500,000 protection. Account protection is now under Schwab's SIPC membership.
All regulatory registrations, client accounts, and protections have been absorbed into Charles Schwab & Co., Inc. Clients are now Schwab clients.
For reference: the account structure TD Ameritrade offered before the Schwab migration in September 2023.
These fees reflect TD Ameritrade's pricing at the time of its merger migration into Schwab in September 2023. Fees at Schwab may now differ slightly.
| Instrument / Fee | Type | Account | Historical Rate | Notes | Current at Schwab | Status |
|---|---|---|---|---|---|---|
| 📈 US Stocks & ETFs | Commission | All | $0.00 | Commission-free since Oct 2019 | $0.00 at Schwab | Continued |
| 📊 Options | Per Contract | All | $0.65/contract | $0 to open, $0.65/contract commission | $0.65 at Schwab | Continued |
| 📉 Futures | Per Side | Futures | $2.25/side | E-mini, Micro futures via thinkorswim | $2.25 at Schwab | Continued |
| 🔁 Forex | Spread | All | Spread-based | No commission; markup in spread | Via Schwab | Modified |
| 📋 Margin Rate | Overnight | Margin | 9.5–14.5% APR | Rate varied by debit balance size | Lower at Schwab | Improved |
| 🏦 Wire Transfer | Outgoing | All | $25.00 | Domestic wire fee | $25 at Schwab | Same |
| 📱 thinkorswim | Platform | All | Free | No platform fee, included with account | Free at Schwab | Continued |
TD Ameritrade was a pioneer in commission-free trading, announcing $0 commissions on US stocks and ETFs in October 2019.
thinkorswim remains one of the most powerful retail trading platforms ever built, now continuing under Schwab.
TD Ameritrade fundamentally shaped US retail brokerage, the zero-commission era began largely in response to its October 2019 move.
TD Ameritrade peak traffic, channels, and competitive signals prior to Schwab migration in September 2023.
These are the key TD Ameritrade features and programs that continue to operate under Charles Schwab after the 2023 migration.
thinkorswim continues as Schwab's flagship active trading platform for options, futures, and technical traders. No changes to core functionality.
TD Ameritrade's extensive Investopedia-grade education library has been incorporated into Schwab's learning center.
Former TD Ameritrade options approval levels (Level 1–4) have been mapped to Schwab's options tier system.
Futures trading through thinkorswim continues at Schwab with the same $2.25/side commission structure.
The most powerful options and active trading platform in US retail brokerage history. Still running under Schwab, fully functional for all ex-TD clients.
iOS and Android app with full options chain, options P&L analysis, and live streaming charts. Continues at Schwab with no feature changes.
The original TD Ameritrade web platform has been retired. Web trading is now through Schwab's web platform at schwab.com.
The original mobile app has been retired. Clients should use the Schwab Mobile app or thinkorswim Mobile going forward.
TD Ameritrade was one of the greatest US retail brokers in history, a pioneer in commission-free trading, home to the industry's best active trading platform in thinkorswim, and trusted by 28 million clients. Its merger into Charles Schwab preserved the thinkorswim platform and core fee structure. Former clients can continue trading at Schwab with no disruption to their core workflow.
TD Ameritrade was acquired by Charles Schwab for $26 billion in 2020. The full client migration was completed in September 2023. All TD Ameritrade accounts, assets, and positions were transferred to Charles Schwab. The TD Ameritrade brand has been retired.
Yes. The thinkorswim platform continues to operate under Charles Schwab. Former TD Ameritrade clients can access thinkorswim through their Schwab account at the same URL, platform functionality has been largely preserved.
Your TD Ameritrade account was automatically transferred to Charles Schwab in September 2023. Log in at schwab.com using your TD Ameritrade credentials (or new Schwab credentials). Account balances, positions, and history were migrated.
The TD Ameritrade broker-dealer registration has been absorbed into Charles Schwab. Accounts formerly at TD Ameritrade are now under Schwab's SEC, FINRA, and SIPC regulatory protections.
thinkorswim was TD Ameritrade's flagship platform, widely considered the best retail trading platform for options analysis, technical charting, and active trading. It continues to operate under Schwab with full functionality.
Emma Thompson
Robert Walker
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