The Account menu helps you manage which account you’re viewing and trading in on the thinkorswim® platform. If your login is associated with multiple accounts you can quickly switch between them using this menu. It’s also where you can view which trading permissions are enabled for each account. This page explains how to access and understand these settings.
Accessing the Account Menu
The account menu is located in the top-left corner of the thinkorswim interface. Click the dropdown next to the current account name (e.g., 12345678SCHW (Individual)).
This menu allows you to:
- switch between different linked accounts.
- access the Check account permissions… option
Switching Between Accounts
The Account menu lets you choose which account you’re working with. If your Schwab login is linked to multiple accounts, you’ll see a dropdown like this:
- <TOTAL> SCHW (All Accounts): Aggregates data across all your accounts that are viewable on the thinkorswim platform. Use this to view combined balances, positions and performance.
- [Account Number] (Individual): A standard brokerage account. Permissions vary by account.
- [Account Number] (Margin): A brokerage account approved for margin trading. Enables borrowing funds to increase buying power.
- [Account Number] (IRA): A tax-advantaged retirement account. May have restrictions on trading products like options or futures.
Viewing Account Permissions
Selecting Check account permissions… opens up the User Setup screen under the Account tab. This section displays:
- the selected account
- a grid listing various asset types and your enrollment/approval status for each
Account permissions are managed externally on Schwab.com. Click the link beside each permission type to update or request access. Permissions may include:
|
Asset Type |
Description |
Status Example |
|---|---|---|
|
Forex |
Permission to trade currency pairs. |
Enrolled / Not Enrolled |
|
Futures |
Permission to trade futures contracts. |
Enrolled / Not Enrolled |
|
Options |
Level of options approval. |
Full / Covered Calls /Long / Spreads / None |
|
Margin |
Indicates whether margin trading is enabled. |
Enrolled / Not Enrolled / Not Approved |
|
Portfolio Margin |
Advanced margin feature allowing increased leverage for eligible accounts. |
Enrolled / Not Approved |
Statuses for Margin and Portfolio Margin are determined by a combination of factors, including your options approval level and whether your account is configured for margin trading.
- A margin account may show Not Approved if options approval is not full.
- Portfolio Margin requires specific permissions for both margin and options to show as Approved.
Color indicators help clarify the status of each permission:
- Green: Enrolled, approved, or enabled.
- Red: Not enrolled, or not approved.
These colors remain the same regardless of your platform display settings.
Customizing Account Settings
In the same panel, you also can:
- choose which accounts to display (e.g., All or individual ones)
- reorder the accounts
- set a default account
- toggle display on FX account info
For more details on these settings, see thinkorswim® Setup.