Charles Schwab has updated its trading platforms for retail clients, including Schwab.com, Schwab Mobile and thinkorswim, and added new staff roles to support active investors in its nearly 400 U.S. branches.
The platform changes aim to meet client needs, the company said Monday, noting that retail trades have exceeded 7 million a day on average for three straight quarters.
"As the world of retail trading continues to evolve, we continuously add new features and resources that serve our clients, expand our offer and make the Schwab experience even more irresistible to those seeking to trade," James Kostulias, Schwab managing director and trading services head, said in a statement.
Updates on Schwab.com and Schwab Mobile include a more responsive and customizable positions page, with comprehensive streaming quotes and data, and a valuation toggle that allows clients to see gains and losses, market value and the day's change based on market close or extended hours. They also include more than 15 new data points such as earnings per share and revenue growth, return on equity and independent research from Morningstar and other services.
Schwab also enhanced the saved-order feature and tools on Schwab.com.
On the thinkorswim platform, Schwab added account display capabilities, custom column settings for watchlists and positions, portfolio tax viewing and treatment tools, account history options and news source filtering.
Schwab, which also added 17 new futures products, said it has expanded support for active trader customers at its retail branches by introducing two new roles: regional trading consultants, who focus on education and trading expertise and support Schwab’s financial consultants, and senior engagement managers, who supply clients with advanced trading education, platform expertise and broader investment consultations.
Schwab took over the popular thinkorswim trading platform through its 2020 TD Ameritrade acquisition.
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