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thinkorswim desktop vs MetaTrader 5: catalog facts
thinkorswim desktop	MetaTrader 5
Best for: Active traders with a Charles Schwab account	Best for: Active traders in forex, stocks and futures who want charting and automated strategies
Free The software is free to download for Schwab clients; trading fees and commissions follow Schwab's pricing.	Free The platform is free; trading happens through a broker, and some market add-ons are paid.
macOS	Windows, macOS, Android, iOS, Web
Customizable layouts and analysis tools Covers stocks, options and futures trading All 3 strengths for thinkorswim desktop Customizable layouts and analysis tools Covers stocks, options and futures trading Free with a Schwab account	Detailed charting and technical analysis Automated trading with MQL5 and a strategy tester All 3 strengths for MetaTrader 5 Detailed charting and technical analysis Automated trading with MQL5 and a strategy tester Available on desktop, web and mobile
Requires a Charles Schwab brokerage account Aimed at active traders rather than budgeting	Needs a broker account to trade real money No native Linux build All 3 limitations for MetaTrader 5 Needs a broker account to trade real money No native Linux build Aimed at active traders rather than budgeting
Downloadable app	Downloadable app, Web application
Not open source	Not open source
License not stated	License not stated
Account needed	Not stated if an account is needed
Needs internet	Not stated if it works offline
Official website Full listing and sources Sources for thinkorswim desktop schwab.com/trading/thinkorswim/desktop Catalog checked October 1, 2026	Official website Full listing and sources Sources for MetaTrader 5 metatrader5.com play.google.com/store/apps/details apps.apple.com/us/app/metatrader-5/id413251709 Catalog checked October 2, 2026

“Not stated” means we have not confirmed it. Features can vary by device and plan.