Charles Schwab has teamed up with TD Ameritrade for
a new platform targeting retail traders. Dubbed “Schwab Trading Powered by
Ameritrade”, the offering combines the capabilities of Ameritrade’s
thinkorswim trading platforms with Schwab’s existing trading features on
Schwab.com and Schwab Mobile.
James Kostulias, the Managing Director and Head of
Trading Services at Charles Schwab said: “When you’re backed by robust,
innovative trading technology, it makes a difference. And that applies to both
sophisticated traders as well as those who are just starting out.”
“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.”
Besides that, this partnership is complemented by an
extensive educational infrastructure and specialized services. The platform
features educational resources such as articles, videos, podcasts, live events,
courses, and learning paths from TD Ameritrade. Recently, Schwab introduced a
library of content focusing on explaining the thinkorswim platforms, online trading
courses, and interactive webcasts through Schwab Coaching.
Additionally, Schwab Trading Powered by Ameritrade
offers specialized support through Schwab’s Trade Desk, staffed by experienced
professionals, including former floor traders. According to the firm, this team
is well-versed in addressing traders’ unique needs, from setting up complex
trading strategies to offering guidance on potential trade outcomes.
Schwab Trading Powered by Ameritrade aims to provide
traders with a comprehensive experience. They can access Schwab’s full range of
wealth management, banking, financial advisory services, and more. The platform reportedly represents an evolution in the retail trading sector, combining the
strengths of the two firms.
Expanding Services amid Economic Challenges
Meanwhile, Charles Schwab has released its financial
results for the third quarter of 2023, reporting a net income of $1.1 billion.
This figure is lower than the $2 billion reported in the same quarter of the
previous year.
Charles Schwab’s Co-Chairman and CEO, Walt
Bettinger, commented: “Against a very challenging economic and
geopolitical backdrop, investors continued turning to Schwab as a trusted
partner and a wealth management leader. It is truly humbling to see our clients
award us with near-record Client Promoter Scores and allow us the privilege to
help them move toward their financial goals, particularly during a period where
the U.S. government narrowly avoided a shutdown.”
Charles Schwab has teamed up with TD Ameritrade for
a new platform targeting retail traders. Dubbed “Schwab Trading Powered by
Ameritrade”, the offering combines the capabilities of Ameritrade’s
thinkorswim trading platforms with Schwab’s existing trading features on
Schwab.com and Schwab Mobile.
James Kostulias, the Managing Director and Head of
Trading Services at Charles Schwab said: “When you’re backed by robust,
innovative trading technology, it makes a difference. And that applies to both
sophisticated traders as well as those who are just starting out.”
“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.”
Besides that, this partnership is complemented by an
extensive educational infrastructure and specialized services. The platform
features educational resources such as articles, videos, podcasts, live events,
courses, and learning paths from TD Ameritrade. Recently, Schwab introduced a
library of content focusing on explaining the thinkorswim platforms, online trading
courses, and interactive webcasts through Schwab Coaching.
Additionally, Schwab Trading Powered by Ameritrade
offers specialized support through Schwab’s Trade Desk, staffed by experienced
professionals, including former floor traders. According to the firm, this team
is well-versed in addressing traders’ unique needs, from setting up complex
trading strategies to offering guidance on potential trade outcomes.
Schwab Trading Powered by Ameritrade aims to provide
traders with a comprehensive experience. They can access Schwab’s full range of
wealth management, banking, financial advisory services, and more. The platform reportedly represents an evolution in the retail trading sector, combining the
strengths of the two firms.
Expanding Services amid Economic Challenges
Meanwhile, Charles Schwab has released its financial
results for the third quarter of 2023, reporting a net income of $1.1 billion.
This figure is lower than the $2 billion reported in the same quarter of the
previous year.
Charles Schwab’s Co-Chairman and CEO, Walt
Bettinger, commented: “Against a very challenging economic and
geopolitical backdrop, investors continued turning to Schwab as a trusted
partner and a wealth management leader. It is truly humbling to see our clients
award us with near-record Client Promoter Scores and allow us the privilege to
help them move toward their financial goals, particularly during a period where
the U.S. government narrowly avoided a shutdown.”
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