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Charles Schwab is significantly expanding its 24-hour trading capabilities to include stocks in the S&P 500, Nasdaq-100 indices and hundreds of additional exchange-traded funds (ETFs), building on the overnight trading service pioneered by TD Ameritrade in 2018.
The expansion, which will begin with a pilot group before rolling out to all clients in 2025, marks a substantial increase from the approximately two dozen ETFs currently available for overnight trading through Schwab's thinkorswim platforms.
James Kostulias, Managing Director and Head of Trading Services at Charles Schwab said: "More than six years after Ameritrade was the first U.S. retail broker-dealer to launch 24/5 trading on the thinkorswim platforms, we're proud to see how the overnight market has evolved. Our goal has always been to offer and expand access to 24/5 trading in a responsible way that takes into account client demand, the evolving dynamics of the overnight trading market, and – importantly – providing clients with the full library of Schwab's educational content and 24-hour support."
The move comes as Schwab, which handles approximately six million trades daily and has $9.92 trillion in total client assets, announces several platform enhancements across its thinkorswim, Schwab.com and Schwab Mobile offerings. These include new features for options trading, position monitoring, and money movement capabilities.
The broker already offers pre- and post-market extended hours trading sessions across its platforms, as well as around-the-clock futures and forex trading for qualified accounts through thinkorswim.
Kostulias added: "We have built a powerful trading experience over a long period of time and are a strong leader in this space thanks to the breadth and depth of our platforms, products and professional support. Our expansion in overnight trading combined with our steady stream of meaningful platform enhancements demonstrates our overall commitment to keeping our foot on the pedal and continually innovating to meet traders' rapidly evolving needs."
