The long-awaited TD Ameritrade vs Charles Schwab brokerage merger is officially complete, bringing a wave of changes for investors and financial advisors. As we dive into 2026, it’s important to understand the impact of the merger for anyone who has an account at TD or is looking to open a new brokerage account.
In this article, we will provide a complete Charles Schwab merger guide, covering the key TD Ameritrade Schwab merger changes, platform updates, and what investors need to know after the transition.
TD Ameritrade vs. Charles Schwab: An overview of the merger
- In November 2019, Charles Schwab Corporation announced its agreement to acquire TD Ameritrade Holding Corporation.
- The acquisition was officially completed in October 2020, as confirmed by a Business Wire announcement, with TD Ameritrade becoming part of the combined entity under The Charles Schwab Corporation.
- Following the transition to Schwab process, all TD Ameritrade accounts were successfully moved to Schwab through a large-scale account migration, which answers what happened to TD Ameritrade accounts and led to the shutdown of the TD Ameritrade platform in May 2024.
Want a deeper look at Charles Schwab’s account features? Check out our comprehensive guide on Charles Schwab brokerage account review.
Trading platforms & features: What’s changing?
One of the most important trading platform changes after the merger is how TD Ameritrade tools are now integrated into Schwab’s ecosystem. Here are the key changes:
Thinkorswim Platform
- TD Ameritrade’s award-winning trading platform, known for advanced charting, customizable interface, and real-time data access, has been a favorite among active traders.
- Despite Charles Schwab’s acquisition, the platform continues to offer high-performance trading experiences.
- Its comprehensive suite of analytical tools, technical indicators, and educational resources caters to both professional and retail investors, offering speed, precision, and flexibility.
- While thinkorswim provides a comprehensive suite of powerful trading platforms across desktop, web, and mobile, Schwab clients also have the option to trade through Schwab.com and the Schwab mobile app.
Fee structure & investment options: A detailed comparison
After the TD Ameritrade and Schwab merger is complete, clients are now operating under Charles Schwab’s fee structure and investment ecosystem, including updated Charles Schwab fees and charges. Both offer a wide range of investment options, including Stocks, ETFs, Options, Mutual funds, Futures, cryptocurrencies, Forex, and more.
Here is the trading fees comparison between the investment options with online trades and broker-assisted trades:
| Investment options | Online trade fees | Broker-assisted trade fees |
|---|---|---|
| Stocks and ETFs | $0 online commission | $0 + $25 service charge |
| Options | $0 online commission + $0.65 per contract fee | $0.65 per contract + $25 service charge |
| Mutual funds – Schwab Mutual Fund | $0 commission | $0 + $25 service charge |
| Other Mutual funds | Up to $74.95 per purchase | Online fees + $25 service charge |
| Futures and Futures Options | $2.25 per contract | $2.25 per contract (No service charge) |
| Cryptocurrencies | $0 commission | $0 commission |
| Forex | $0 online commission; trade costs reflected in the bid/ask spread | $0 online commission; trade costs reflected in the bid/ask spread |
Looking for more insights? Dive into our full overview of TD Ameritrade, including account types, trading fees, platform features, and customer support.
How the merger affects existing TD Ameritrade clients
The Charles Schwab and TD Ameritrade merger has brought big changes for existing clients, highlighting the overall Schwab merger impact on investors, especially in terms of account access and platform usage.
TD Ameritrade account migration to Schwab
- You will receive a new Schwab account number, but your investments, trading history, and account information remain the same.
- You no longer use the TD Ameritrade website or apps to access your accounts. All activity now takes place on Schwab.com or through the Schwab mobile app.
- Tools for moving money, placing trades, and managing your portfolio are now fully handled within the Schwab platform, as explained in our Charles Schwab and withdrawal guide.
New platform to use
- Use the Schwab mobile app for managing your account, tracking performance, and securely accessing your updated Schwab account numbers.
- The popular thinkorswim platform is still available, now fully supported under Schwab, offering powerful tools for both active traders and long-term investors.
- For advisor clients who previously used TD Ameritrade Institutional, Schwab Alliance is your new portal for secure messaging, documents, and account management.
Tax documents and statements
- During the transition from TD Ameritrade to Charles Schwab, you may receive two sets of tax documents for the year, one from TD Ameritrade and another from Schwab.
- These documents are crucial for accurate filing and should be downloaded for backup during tax season or long-term financial planning needs.
- Historical statements and documents from TD Ameritrade are gradually moved into the Schwab system.
Conclusion
The TD Ameritrade vs Charles Schwab merger marks a major shift in the brokerage industry, blending two of the most trusted names into a single, more robust platform. While existing TD clients are adjusting to new platforms and tools for moving money and accessing account information.
With continued access to the powerful thinkorswim platform, zero-commission trades, and a wide variety of investment options, Schwab is now a strong choice for investors and ranks among the best US stock brokers.
Whether you’re an existing client or new to the ecosystem, understanding these updates will help you take full advantage of what Schwab has to offer in 2026 and beyond.
Pro Tip
Gain a clear understanding of these updates to smoothly navigate the transition to Schwab and make informed decisions about your financial future. To get more updated information like this, reach out to our best Forex broker.
Frequently Asked Questions
1. Did fees change after the merger?
Yes, clients now follow Charles Schwab’s fee structure. Most online stock and ETF trades remain commission-free, while options and some mutual funds may include small fees.
2. Will thinkorswim continue to operate?
Yes, the thinkorswim platform continues to operate under Charles Schwab and remains available for both active traders and long-term investors.
3. How does the merger affect investors?
The merger mainly affects investors through account migration, platform changes, and updated tools. However, investments and account holdings from TD Ameritrade were transferred without disruption.
4. What are the benefits of the merger?
The merger combines advanced tools like thinkorswim with Schwab’s broader investment options, offering better platform access, low fees, and a more integrated trading experience.
