Charles Schwab
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About Charles Schwab
Charles Schwab Corporation is one of the largest brokerage and banking companies in the United States, with approximately $9.4 trillion in client assets and 35+ million active brokerage accounts. Founded in 1971 by Charles R. Schwab and headquartered in Westlake, Texas (moved from San Francisco in 2020), Schwab pioneered discount brokerage in the 1970s and has grown into a full-service financial powerhouse. The 2020 acquisition of TD Ameritrade ($26 billion) dramatically expanded Schwab's client base and brought in the thinkorswim trading platform — one of the most powerful active trading platforms available. Schwab offers commission-free stock/ETF trading, a wide selection of mutual funds, robo-advisory (Schwab Intelligent Portfolios), banking services (Schwab Bank with no-fee checking and unlimited ATM fee rebates internationally), and retirement solutions. Schwab has 400+ branch offices across the US, one of the largest physical presences among brokerages.
Frequently Asked Questions
Schwab vs Fidelity: which is better?
Both are top-tier brokerages for most investors. Schwab edges Fidelity for active traders (thinkorswim is the best desktop trading platform), banking integration (Schwab Bank's fee-free global ATM access is unmatched), and branch access (400+ locations). Fidelity edges Schwab for passive investors (zero expense ratio funds), retirement plan administration, and mobile app experience. For most investors, either is excellent — choose based on which features matter most to you.
Does Schwab charge trading fees?
No. Schwab charges $0 commission for US stock and ETF trades (online). Options trades are $0.65 per contract with no base commission. Mutual fund trades are free for Schwab funds and no-transaction-fee (NTF) funds; other mutual funds charge $49.95. There are no account maintenance fees and no minimums for standard brokerage accounts.
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