Yes, Charles Schwab acquired TD Ameritrade in 2020

Charles Schwab completed its purchase of TD Ameritrade in October 2020 for approximately $26 billion. The deal combined two of the largest retail brokerage firms in the United States. If you held an account with TD Ameritrade before that date, your account was transferred to Charles Schwab as part of the acquisition.

The acquisition was not instantaneous. Schwab announced the deal in November 2019, received regulatory approval through 2020, and finished moving customer accounts over the course of several years. Some TD Ameritrade accounts moved to Schwab's systems in 2021, while others transitioned later depending on the account type and complexity.

Key Takeaways

  • Charles Schwab bought TD Ameritrade in October 2020 for approximately $26 billion, combining two major brokerage firms.
  • TD Ameritrade customer accounts were transferred to Charles Schwab, though the migration happened in phases rather than all at once.
  • Your login credentials, holdings, and account history moved with you, but you may have needed to update your password or contact information during the transition.
  • TD Ameritrade's thinkorswim trading platform was kept separate and remains available to both former TD Ameritrade and Charles Schwab customers.

What happened to TD Ameritrade accounts during the merger

When you held a TD Ameritrade account at the time of the acquisition, your positions, cash, and account settings transferred to Charles Schwab. You kept the same holdings—stocks, bonds, mutual funds, options, or whatever you owned did not disappear or get sold. Your account number changed, and you received new login credentials for Schwab's platform.

The transition was not automatic for all customers on the same day. Schwab prioritized accounts by type: simpler accounts (like basic brokerage accounts) moved first, while more complex accounts (like those with options trading or margin) moved later. If you had multiple accounts with TD Ameritrade, they may have migrated on different dates.

During the migration window, TD Ameritrade sent you notices with your new Schwab login information and instructions for accessing your account on Schwab's platform. If you did not receive these notices or lost them, you could contact Schwab to retrieve your new credentials.

How to access your former TD Ameritrade account now

Your account lives on Charles Schwab's platform now. You log in using the credentials Schwab provided during the migration, not your old TD Ameritrade username and password. If you do not remember your Schwab login, you can reset it on Schwab's website by clicking "Forgot username or password" on the login page.

All your holdings, transaction history, and account statements from your TD Ameritrade days are still there. Schwab kept the historical data so you can see what you owned and what you traded before the merger. You can read old statements from your account settings if you need them for tax purposes or record-keeping.

What changed about fees and features after the merger

Charles Schwab eliminated commissions on stock and ETF trades, which TD Ameritrade had already done before the acquisition. If you were paying per-trade fees with TD Ameritrade, those stopped. Schwab's fee structure applies to your account now: no commission on stocks and ETFs, but fees on options trades, mutual fund purchases, and certain other products.

Some features you used with TD Ameritrade may have changed. For example, Schwab's research tools, educational content, and account management interface differ from TD Ameritrade's. If you relied on specific TD Ameritrade features, you may need to learn how to do the same task in Schwab's system or contact support to find the equivalent.

The thinkorswim platform and what happened to it

TD Ameritrade's thinkorswim trading platform was not shut down after the merger. Schwab kept it running and made it available to both Schwab customers and former TD Ameritrade customers. If you used thinkorswim before the acquisition, you can still access it with your Schwab login credentials.

Schwab has continued to update and maintain thinkorswim, adding new features and tools over time. It remains one of the most advanced retail trading platforms available. You do not need a separate account or subscription to use it—it comes with your Schwab brokerage account at no extra cost.

What if you had a TD Ameritrade retirement account

Retirement accounts—IRAs, Roth IRAs, SEP IRAs, and others—transferred to Schwab just like regular brokerage accounts. Your contributions, earnings, and withdrawal rules stayed the same. The account type did not change, and you did not face any tax consequences from the transfer itself.

If you were taking required minimum distributions (RMDs) from a traditional IRA or other retirement account, Schwab honored that schedule after the migration. You may have needed to update your distribution instructions on Schwab's platform, but the process was straightforward and Schwab provided guidance during the transition.

Frequently Asked Questions

Do I need to do anything with my TD Ameritrade account now?

No. Your account is already on Schwab's system. You just log in with your Schwab credentials and use it as you normally would. If you have not logged in since the migration and do not remember your Schwab username, you can reset it on Schwab's website.

Can I still use my old TD Ameritrade login?

No. Your old TD Ameritrade username and password no longer work. You must use the new Schwab login credentials that were sent to you during the migration. If you lost those credentials, Schwab's password reset tool can help you recover them.

What happened to my TD Ameritrade statements and tax documents?

Schwab kept your account history and made old statements available in your account. You can read prior-year statements and tax forms (like 1099s) from Schwab's website. If you need a specific document and cannot find it, Schwab's customer service can retrieve it for you.

Did the merger affect my investment holdings or positions?

No. Everything you owned—stocks, bonds, mutual funds, options—transferred as-is to your Schwab account. Nothing was sold or liquidated because of the merger. Your positions and cash balance moved with you.

Is thinkorswim still available after the merger?

Yes. Schwab kept thinkorswim running and it remains available to all Schwab customers at no extra cost. You can log in with your Schwab credentials and use it the same way you did before the acquisition.