Thinkorswim

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Thinkorswim
Available inEnglish
TypeElectronic trading platform
Websitewww.schwab.com/learn/story/introduction-to-thinkorswim-desktop-platform

Thinkorswim is an electronic trading platform owned by Charles Schwab Corporation used to trade financial assets. It is geared for self-directed stock, options and futures traders.[1]

History

Thinkorswim, Inc. was founded in 1999 by Tom Sosnoff and Scott Sheridan as an online brokerage specializing in options.[2][3] It was funded by Technology Crossover Ventures.[4] In February 2007, Investools acquired Thinkorswim.[5] In January 2009, it was acquired by TD Ameritrade in a cash and stock deal valued around $606 million.[6][7][8] In October 2022, Charles Schwab Corporation acquired TD Ameritrade and the thinkorswim platform became available for Charles Schwab customers.[9]

S.E.C. investigation & penalties

On December 10, 2009, the U.S. Securities and Exchange Commission began an investigation into Investools' (purchased by thinkorswim) use of misleading sales practices in which two named defendants, Michael J. Drew ("Drew") and Eben D. Miller ("Miller"), were giving trading workshops under the guise of being full-time investors by trade, having made their fortunes in this manner as well as assuring students they would achieve the same results by following the Investools method. Among the allegations by the S.E.C. was that "Investools Did Not Prevent its Speakers from Misleading Investors about a Survey of its Customers' Trading Success."[10]

References

  1. ^ Glum, Julia (June 22, 2021). "Thinkorswim for Beginners: A Guide to Trading on the High-Tech TD Ameritrade Platform". Money.
  2. ^ "Schwab Announces thinkorswim Platform Will Survive". Investopedia. Retrieved February 12, 2024.
  3. ^ "Thinkorswim founders bring new online brokerage". Chicago Tribune. January 6, 2017.
  4. ^ "Technology Crossover Ventures: thinkorswim". Technology Crossover Ventures.
  5. ^ "Investools Inc. Completes Merger with thinkorswim Group Inc., Announces Upcoming Ticker Symbol Change to 'SWIM'" (Press release). marketscreener.com. February 15, 2007.
  6. ^ "TD Ameritrade buying thinkorswim for $606 million". Reuters. January 8, 2009.
  7. ^ Ortega, Edgar (January 8, 2009). "TD Ameritrade Buys Thinkorswim to Expand in Options". Bloomberg News.
  8. ^ "TD Ameritrade to buy thinkorswim for $606 million". Pittsburgh Post-Gazette. Associated Press. January 8, 2009.
  9. ^ Miao, Hannah (October 16, 2023). "Schwab Gives Traders Access to TD Ameritrade's Thinkorswim Platform". The Wall Street Journal.
  10. ^ (United States District Court for the District of Columbia), Text.

External links

Retrieved from "https://mdwiki.org/wiki/Thinkorswim"