Charles Schwab review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Charles Schwab suits investors who want a wide US market range at a low running cost, with $0 on stock trades and an account fee of $0. It is less suited to those who want forex, CFDs or crypto on the same account.

Key facts

Best for
A low cost brokerage account with US markets, retirement accounts and fractional shares.
Minimum deposit
$0 (Source, checked September 26, 2026)
Stock trade fee
$0 (Source, checked September 26, 2026)
Account fee
$0 (Source, checked September 26, 2026)
Inactivity fee
$0 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Options, Futures, Bonds, Funds (Source, checked September 26, 2026)
Regulators
SIPC (Source, checked September 26, 2026)
Investor protection
SIPC up to USD 500,000 (Source, checked September 26, 2026)
Margin rate
12.075% (Source, checked September 26, 2026)
Options contract fee
$0.65 (Source, checked September 26, 2026)
Platforms
Thinkorswim, Schwab Mobile (Source, checked September 26, 2026)
Account types
IRA, Roth-IRA, Joint, Corporate (Source, checked September 26, 2026)
Legal entity
CHARLES SCHWAB & CO INC (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Support channels
Chat, Phone, Help-centre (Source, checked September 26, 2026)
Features
Fractional shares, Demo account, Mobile app
Pricing model
Commission-free
Official website
schwab.com

Robo-advisors

Management fee
0% (Source, checked September 26, 2026)
Minimum investment
$5,000 (Source, checked September 26, 2026)
Regulators
SIPC (Source, checked September 26, 2026)
Investor protection
SIPC up to USD 500,000 (Source, checked September 26, 2026)
Account types
IRA, Roth-IRA, Joint, Corporate (Source, checked September 26, 2026)
Portfolio types
ETF, Cash (Source, checked September 26, 2026)
Legal entity
CHARLES SCHWAB & CO INC (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Support channels
Chat, Phone, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • Stock trades cost $0 and there is an account fee of $0, so holding a balance costs nothing to keep open
  • No inactivity charge either, with an inactivity fee of $0, so an unused account is not billed
  • Markets run stocks, etfs and options, which covers shares, exchange traded funds, options, futures, bonds and funds in one place
  • Account types cover ira, roth ira and joint, so retirement, joint and corporate money can sit alongside a taxable account
  • Features include fractional shares, demo account and mobile app, letting small monthly amounts and practice runs sit in the same account

Cons

  • Options contracts carry a fee of $0.65 each, so a derivative trade costs more than the $0 charged on a stock trade
  • The listed markets are stocks, etfs and options, and forex, contracts for difference and crypto are not among them
  • Support runs on chat, phone and help centre, and email is not among those channels
  • The automated portfolio service asks for a minimum investment of $5,000, which is well above the $0 for the brokerage account
Charles Schwab

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Who it suits

  • Investors buying US shares and exchange traded funds who care about what each trade costs
  • Retirement savers who want tax-advantaged accounts next to a taxable account
  • Fractional share investors building a position gradually with small monthly amounts

Who should look elsewhere

  • Anyone wanting forex, contracts for difference or crypto, where eToro lists stocks, etfs and forex against Schwab's stocks, etfs and options
  • Traders who want a per contract derivative fee waived, since options cost $0.65 here
  • Investors starting a managed portfolio with less than the $5,000 the service asks for

What you can trade

Schwab covers the main US asset classes under one roof. The listed markets are stocks, etfs and options: stocks, exchange traded funds, options, futures, bonds and funds, so a long term investor can hold a broad fund portfolio, buy individual shares, and add fixed income without moving to another broker. Derivatives sit alongside the cash assets rather than being a separate product line, which matters if you want to write covered calls against a holding you already own. Trading runs through thinkorswim and Schwab Mobile, giving you both a desktop style platform and a phone app for checking positions away from a screen. Account structures are broad too, with ira, roth ira and joint available, so a retirement account and a taxable account can run side by side. By contrast, CFI focuses on stocks, etfs and forex, a set centred on forex, contracts for difference and crypto rather than the US bond and fund range that Schwab lists.

Opening and funding an account

There is no barrier to size at the start: the minimum deposit is $0, so the account can be opened and funded at whatever level suits you rather than being held to a platform minimum. From there, the platform supports fractional shares, demo account and mobile app, and fractional shares mean a fixed monthly amount can be split across holdings instead of buying whole shares of a high priced stock. That suits regular savers who want money working between pay packets rather than a lump sum. Retirement and shared ownership are built in, since account types include ira, roth ira and joint, covering individual retirement accounts, joint accounts and corporate accounts. One thing to weigh before going further: the automated portfolio service carries a management fee of 0% but requires a minimum investment of $5,000, so a small balance is better run in the brokerage account with fractional shares than in the managed service.

Safety and regulation

The client entity named for protection purposes is Charles Schwab and Co Inc, and the regulators recorded for it are SIPC. It is listed as a member of the Securities Investor Protection Corporation, with membership recorded under SIPC member 16514. What that membership is worth to you is set out in the protection figure of SIPC up to USD 500,000: the scheme covers securities held in the event of a firm failure, up to the stated limit, and applies to cash awaiting investment in the account as well. That is a membership in a US scheme, which suits a US based investor holding US markets. It does not replace the protections of another jurisdiction, so if you are investing from the UK or Europe and want a local scheme behind the account, check what applies to your own residence before you fund it.

How Charles Schwab compares

Where Charles Schwab is available

Available
United States
Licence in United States
SIPC (SIPC member 16514), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

How much does it cost to trade stocks at Charles Schwab?+

Stock trades cost $0, and there is no account charge on top, with the account fee at $0. Trading is commission free, so the cost of a buy or sell is not driven by a per trade ticket. Options are the exception, priced at $0.65 per contract.

Is there an inactivity fee if I leave my account empty?+

The inactivity fee is $0, so an unused brokerage account is not billed for sitting still. That keeps a dormant account free to hold, which matters if you fund once and add to it occasionally. The same applies to the account fee, which is $0.

Is there a minimum amount I need to open an account?+

The minimum deposit is $0, so you can open the account and fund it at a level you choose rather than a set platform minimum. If you want a small amount to start, the platform supports fractional shares, listed among its features in fractional shares, demo account and mobile app. That lets a fixed monthly sum buy part of a share.

How is my money protected?+

The client entity is Charles Schwab and Co Inc, and the protection recorded is SIPC up to USD 500,000. The firm appears in the protection scheme's membership list under SIPC member 16514, with the regulators listed as SIPC. The stated cover applies to securities held and cash awaiting investment if the firm fails.

What markets can I trade on the platform?+

The listed markets are stocks, etfs and options: stocks, exchange traded funds, options, futures, bonds and funds. That is a US centred range, so forex, contracts for difference and crypto are not part of it. If those markets matter to you, CFI lists stocks, etfs and forex and eToro lists stocks, etfs and forex.

Can I hold a retirement account alongside a taxable one?+

Yes. Account types include ira, roth ira and joint, which covers individual retirement accounts, joint accounts and corporate accounts. The same brokerage platform handles them, using thinkorswim and Schwab Mobile. You can therefore keep tax-advantaged savings and a general taxable account in the same relationship.

Which apps and platforms can I use?+

Access is through thinkorswim and Schwab Mobile, covering a desktop style trading platform and a mobile app. Support is also handled through chat, phone and help centre, so help runs by chat and phone as well as through the help centre. The mobile app is one of the features listed in fractional shares, demo account and mobile app.

Who is Charles Schwab suited to?+

It fits investors buying US shares, exchange traded funds, bonds and funds who want to keep the cost of holding an account low, with stock trades at $0 and an account fee of $0. It suits regular savers too, since fractional shares are supported. It is a weaker fit for traders who want forex or crypto.

Is there a managed portfolio option, and what does it cost?+

There is an automated portfolio service with a management fee of 0%. It requires a minimum investment of $5,000, which sits well above the $0 needed for the brokerage account. The portfolios offered are etf and cash, so a smaller balance is better held in the brokerage account.

Can I borrow to trade, and what does margin cost?+

Margin is available at a rate of 12.075%, charged on borrowed balances. The rate is the cost of the credit, not of the trade, and stock trades themselves stay at $0. Interest accrues on the amount you borrow, so the cost rises with the position rather than the account.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Retail accounts that lose money.

Charles Schwab

Charles Schwab

A low cost brokerage account with US markets, retirement accounts and fractional shares.

9.0/10See alternatives

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