By: 28 June 2024

Powered by Ameritrade, Schwab say the launch will set a new standard for the retail trading experience

Schwab Trading is now available in the UK

Charles Schwab’s retail trading experience, Schwab Trading Powered by Ameritrade, is now available to traders in the UK. Charles Schwab, a leading provider of financial services, with 35.1 million active brokerage accounts globally, has combined the award-winning thinkorswim® suite of trading platforms with the trading capabilities on Schwab.com and Schwab Mobile, extensive trading education and specialised support services to provide traders of all types and levels with an exceptional holistic trading experience. 

thinkorswim: industry-leading trading platforms 

The thinkorswim platforms – accessible via desktop, mobile and web – sit at the core of Schwab Trading Powered by AmeritradeTM and provide powerful charting and analytics tools, trader-friendly navigation, and extensive customisation. Distinct features include: 

  • The ability to trade an array of US-based products, including equities and select derivatives, with US$0 account minimum and US$0 online listed equity trade commissions
  • Extensive customisation through the thinkScript® programming language, enabling clients to build their own order entry and strategic testing algorithms to see how various scenarios could play out (available on thinkorswim desktop and mobile)
  • The ability to pull from a wide array of technical studies, including basic support, resistance, candlestick, and profile charts as well as sophisticated charts like monkey bars and Renko charts alongside up to 20 drawings with eight Fibonacci tools
  • Communication capabilities enabling users to share ideas and insights with other traders via in-platform chat rooms (available on thinkorswim desktop and mobile)
  • A trading simulator – paperMoney® – which allows users to test trading strategies and place trades without monetary risk in a real-time environment

Comprehensive education tailored to traders 

In addition to the thinkorswim platforms, clients also have unlimited access to Schwab Trading Powered by Ameritrade’s education tools – from live events and courses, to articles, videos and podcasts – which are specifically tailored to meet their evolving learning needs. Clients also have access to Schwab Coaching™, which connects them with experienced education coaches in one-to-many interactive webcasts to “look over the shoulder” of seasoned trading professionals. 

Specialised support for traders, by traders 

To help take advantage of Schwab’s trading capabilities, clients have the ability to connect with specialised trading support professionals on any platform, product and trading strategy needs. In addition to the local support available to clients via Schwab’s London branch office, Schwab’s Trade Desk is available to all clients and can help with a range of trading topics, from learning the ins and outs of platforms to providing a simple gut check to help clients better understand the potential gains or losses of their trade idea. Clients can connect with trading specialists 24/5 via phone, chat or in-platform. 

Richard Flynn, managing director of Charles Schwab UK, said: “We know from our recent Investment Forces research that a new generation of investor – Gen T, or Generation Trader – is emerging in the UK; more than three-quarters of Gen Z and Millennial retail investors are already doing – or considering doing – copy trading, and 58% adjust their investments at least once a month. With this new generation adopting a more proactive approach to managing their investments, education plays a critical role in helping them learn and implement strategies and stay on top of market news and economic events. Providing high-powered trading capabilities alongside education tools and support, Schwab Trading Powered by Ameritrade is an ideal partner for UK retail traders at any point in their investing journeys.”

Lisa Hunt, managing director, head of international services for Charles Schwab & Co., Inc., added: “The launch of Schwab Trading Powered by Ameritrade in the UK is testament to Charles Schwab’s continued focus on, and investment in, the UK market. Historically, UK retail traders have been underserved, with clunky, hard-to-use platforms that are either so complex that they are only suitable for professional traders or so basic that they are really for novices only. Our flagship, award-winning thinkorswim platforms change this, providing an incredibly deep trading experience for both sophisticated traders, and those who are still building their expertise, and the ability to continually upskill one’s trading capabilities. We want to see UK traders unlock their potential and invest in their tomorrow, and are committed to bringing them the best technology and trading experience in order to achieve this.”

Image: Charles Schwab

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Robert Welbourn
Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.