Congratulations on opening a brokerage account with Charles Schwab! This is an excellent opportunity for you to expand your knowledge of the stock market.
You can start by familiarizing yourself with various trading strategies, technical terms, and exploring the world of investing.
One way to ease your learning process is by using a demo account, also known as a paper trading account. This type of account allows you to trade stocks and options with fake money.
Does Schwab Have Paper Trading?
Currently, Schwab does not offer paper trading accounts. However, later this year, they will introduce the ThinkOrSwim platform, which will include this feature.
In case you were not aware, Charles Schwab acquired TD Ameritrade two years ago, and the merger is expected to be finalized later this year. As part of the deal, Schwab will also obtain ThinkOrSwim, a trading platform owned by TD Ameritrade.
This platform includes a paper trading feature, which Schwab clients can take advantage of once the merger is finished.
Some TD Ameritrade customers have already had their accounts moved to Schwab. So paper trading should be part of Schwab’s overall offering in 2023.
How to Sign Up for a Charles Schwab Paper Trading Account
There is no need to sign up for a paper trading account with Schwab. This feature is integrated into the ThinkOrSwim itself.
Once Schwab completes the integration with ThinkOrSwim, you can use your existing Schwab username and password to sign in and use the paper trading features.