Is Thinkorswim really free?

Yes. Thinkorswim has no platform subscription fee. You need a Charles Schwab brokerage account and pay $0.65 per options contract. The platform, including paperMoney paper trading and all analysis tools, is free.

Does Thinkorswim have portfolio optimization?

No. Thinkorswim focuses on trade execution and technical analysis. Remora includes a portfolio optimizer for capital allocation, risk exposure, and position sizing across multiple portfolios.

Which is better for covered calls and CSPs?

Thinkorswim can execute them, but Remora screens 12 spread strategies across 500+ tickers and tracks the complete wheel lifecycle. For systematic options trading, Remora provides the full workflow.

Remora vs Thinkorswim (2026) | Features & Pricing Compared

Q: Can I use Thinkorswim and Remora together?

Yes, many traders use Remora for screening and portfolio management, then execute trades on Thinkorswim. The platforms complement each other: Remora handles the workflow, ToS handles execution.

Remora

Home Features Pricing Compare

TL;DR

Thinkorswim is Schwab's flagship desktop trading platform with 400+ technical indicators, thinkScript custom scripting, and free paper trading. It excels for active technical traders who want execution and analysis in one brokerage. Remora is an integrated options trading platform that takes you from screening through portfolio tracking and optimization. It excels for traders who want to screen 12 spread strategies, track wheel lifecycles, and optimize their portfolio without switching tools. Choose Thinkorswim for charting power and brokerage execution. Choose Remora for the complete options trading workflow.

Dimension	Remora	Thinkorswim
Starting Price	$199/mo (Pro)	Free (Schwab account)
Spread Screener (12 strategies)		~
Portfolio Tracking		~
Portfolio Optimizer		—
Options Flow		~
Paper Trading	—
Custom Scripting (thinkScript)	—
Technical Indicators	100+ (TradingView)	400+ (proprietary)
Mobile App	PWA	Native
Guided Walkthrough		—
AI / MCP Integration	Native MCP (27 tools)	thinkScript only, no AI

What is Thinkorswim?

Thinkorswim is Charles Schwab's flagship advanced trading platform, originally built by TD Ameritrade and now fully integrated into the Schwab ecosystem following the 2023-2025 acquisition. It is one of the most powerful desktop trading platforms available, offering 400+ technical indicators, real-time options chains with Greeks, probability analysis, and the proprietary thinkScript programming language for building custom indicators and scanners.

The platform includes paperMoney, a free paper trading simulator with $100K in virtual buying power and real-time data, making it one of the best environments for testing options strategies without risk. Thinkorswim supports complex multi-leg options strategies including iron condors, butterflies, and calendar spreads, with advanced risk profiling and position visualization tools.

Thinkorswim is best suited for active technical traders who want execution, analysis, and charting power in one brokerage platform. The desktop version is the most feature-rich, while the web and mobile versions are more limited. With zero platform fees (just $0.65 per options contract), it offers tremendous value for traders who can navigate its steep learning curve.

What is Remora?

Remora is an integrated options trading platform designed for options traders — income sellers, directional traders, and RIAs who want screening, portfolio tracking, optimization, and analytics in one place. Rather than switching between tools for different parts of the workflow, Remora connects everything from initial stock and options screening through trade tracking and performance analysis.

The platform includes 12 built-in spread strategies, a 500+ ticker IV rank dashboard, unusual options flow monitoring, a stock scanner, and earnings analysis. On the portfolio side, Remora offers wheel strategy lifecycle tracking, a portfolio optimizer that analyzes capital utilization and exposure, morning briefings, PDF reports, and shared portfolio links for client reporting.

Remora is built for traders who prioritize workflow efficiency over raw charting power. If you want to find trades, track your portfolio, optimize your positions, and review performance without leaving one platform, Remora is purpose-built for that workflow.

Screening & Discovery

How each platform helps you find opportunities.

Feature	Remora	Thinkorswim
Options Screener (CSP/CC)
Spread Screener (12 strategies)		~
IV Rank Dashboard (500+ tickers)		~
Stock Scanner
Options Flow (Unusual Activity)		~
Earnings Calendar
Custom Scan Scripts (thinkScript)	—

Remora offers dedicated income-focused screening with 12 built-in spread strategies. Thinkorswim has broader scanning through Options Hacker and thinkScript, but requires custom setup for income-specific scans.

Portfolio Management

Tracking trades, managing positions, and optimizing your portfolio.

Feature	Remora	Thinkorswim
Portfolio Tracking		~
Wheel Strategy Lifecycle		—
Portfolio Optimizer		—
CSV Import / Manual Entry		—
PDF Reports & Shared Links		—
Morning Briefing		—

Thinkorswim tracks positions you hold in your Schwab account but doesn't offer dedicated portfolio management tools. Remora provides purpose-built tracking, wheel lifecycle management, optimization, and reporting.

Analytics & Reporting

Measuring and understanding your trading performance.

Feature	Remora	Thinkorswim
Equity Curve & P&L Tracking		~
Win Rate & Monthly Heatmap		—
Sector Breakdown		—
Account Performance Summary

Remora provides detailed trade-level analytics: win rates, heatmaps, sector exposure, and equity curves. Thinkorswim shows basic account performance through the brokerage; Remora goes deeper with granular options trade analytics.

Volatility & Greeks Data

Depth and breadth of volatility analysis tools.

Feature	Remora	Thinkorswim
Real-Time Greeks
Technical Indicators	100+ (TradingView)	400+ (proprietary)
Probability of Profit
IV Rank / IV Percentile
Sizzle Index / Vol Indicators	—
Paper Trading Simulator	—

Thinkorswim excels here with 400+ studies, the Sizzle Index, and paperMoney for risk-free testing. Remora integrates TradingView charting and IV metrics directly into the screening workflow, prioritizing actionable data over raw analysis depth.

Platform & Experience

Day-to-day usability and platform integration.

Feature	Remora	Thinkorswim
Integrated Platform (one login)
Web-First Platform		~
PWA / Mobile-Ready
Guided Walkthrough		—
Custom Scripting Language	—
Order Execution	—

Thinkorswim is a desktop-first platform with a limited web version. Remora is web-first with PWA mobile support and a gentler learning curve. Many traders use both: ToS for execution, Remora for screening and portfolio management.

Remora is the only options platform with native AI assistant integration via MCP. Connect to Claude Desktop, Cursor, or any MCP-compatible AI host and screen options, find trades, and analyze your portfolio in natural language. Thinkorswim supports thinkScript for custom studies but has no AI assistant (MCP) integration. Learn more about MCP →

Pricing & Value

What you get at each price point.

Remora

Pro $199/mo

Includes portfolio tracking, optimizer, analytics, screener, spread screener, Options Flow, and priority support.

Thinkorswim

Platform Fee Free

Options (per contract) $0.65

Equities $0

Thinkorswim has no platform fee. You pay per-contract commissions. The platform is powerful but you'll need to build your own screening and tracking workflow.

Choose Thinkorswim if you...

Best for active technical traders who want free charting and execution

Want a free platform with brokerage execution built in
Need custom scripting (thinkScript) to build proprietary indicators
Are an active technical trader who relies on 400+ studies and analysis
Want paper trading to test strategies risk-free before going live

Choose Remora if you...

Best for options traders who want one integrated platform

Sell covered calls, CSPs, or credit spreads and want an integrated workflow
Need portfolio optimization, wheel tracking, and capital allocation analysis
Want morning briefings, PDF reports, and shared portfolio links
Manage multiple client portfolios and need RIA-grade reporting
Prefer a web-first platform with guided walkthrough over a desktop app

Frequently asked questions

Yes. Thinkorswim has no platform subscription fee. You need a Charles Schwab brokerage account, and you'll pay $0.65 per options contract and $0 for equity trades. The platform itself, including paperMoney paper trading, charting, and all analysis tools, is completely free to use.

Yes, and many traders do. A common workflow is to use Remora for screening opportunities (spread screener, IV dashboard, options flow) and managing your portfolio (tracking, optimization, analytics), then execute trades on Thinkorswim. The platforms complement each other well: Remora handles the workflow, ToS handles the execution.

No. Thinkorswim focuses on trade execution and technical analysis. It does not offer portfolio-level optimization for capital allocation, risk exposure, or position sizing. Remora includes a portfolio optimizer that analyzes your positions across multiple portfolios, helping you manage concentration, Greeks exposure, and capital utilization.

Thinkorswim can execute covered calls and CSPs, and its options chains make it easy to analyze individual positions. Remora goes further by screening 12 spread strategies across 500+ tickers, tracking the complete wheel lifecycle (CSP to assignment to covered call), and providing portfolio-level optimization. For finding and executing a single trade, ToS works well. For managing a systematic income strategy, Remora provides the full workflow.

Yes. TD Ameritrade accounts have fully migrated to Charles Schwab. Thinkorswim continues as Schwab's advanced trading platform. The Schwab Trader API has replaced the TD Ameritrade API, and all features are available through the Schwab ecosystem.