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Pricing

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Schwab Trading Services

Introducing Schwab's best pricing for traders ever.

Plus get access to our award-winning platforms, outstanding service, and no account or trade minimums.

Open an account
Schwab Trading Services
Stocks $0

online commission1

Options $0

online commission1,
plus $0.65 per contract2

ETFs $0

online commission1,3

Futures $1.50

per contract4

  • ETFs3 $0 2,000+ ETFs across a range of asset classes and fund companies.
    Options – Commission2 on Buy/Writes, Sell/Writes, Unwinds $0 Pay no base commission and just $0.65 per contract for the option leg.
    Futures Options4 $1.50 Futures and Futures options are just $1.50 per contract whether you place the trade online or through a broker.
    International Stocks5 $0-$50 American Depository Receipts (ADR) trades are $0. Foreign ordinaries trades in OTC markets are $50.
    Margin Borrowing Low % Rates Extend your buying power with Schwab’s competitive rates.

    Trade Bonds, CDs, or Mutual Funds? View Schwab’s full commission schedule >

Our fees are backed by an exclusive Satisfaction Guarantee.6

If for any reason you're not completely satisfied, we'll refund your eligible fee or commission and work with you to make things right. You won't find that kind of promise everywhere—but you will find it here.

See how Schwab compares.

Schwab E*TRADE Fidelity TD
Ameritrade
Standard online stock, ETF, and options commissions $0 $0 $0 $0
Standard options per contract fees $0.65 $0.65 $0.65 $0.65
Futures per contract$1.50 $1.50 Not offered $2.25
Satisfaction Guarantee Yes No No No

Competitor firm pricing information obtained from their respective websites as of 10/10/2019. Competitor pricing and offers subject to change without notice.

  • 1. The standard online $0 commission does not apply to large block transactions requiring special handling, restricted stock transactions, trades placed directly on a foreign exchange, transaction-fee mutual funds, futures, or fixed income investments. Options trades will be subject to the standard $.65 per-contract fee. Service charges apply for trades placed through a broker ($25) or by automated phone ($5). Exchange process, ADR, foreign transaction fees for trades placed on the US OTC market, and Stock Borrow fees still apply. See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules.

    2. Multiple leg online option orders such as spreads, straddles, combos and rollouts are charged $0.65 per contract fees for the total number of option contracts. For Broker Assisted Options Commissions, add $25 to the Online Options Commission. Complex option orders involving both an equity and an option leg, including Buy/Writes or Write/Unwinds are charged per contract fees for the option.

    3. ETFs at Charles Schwab & Co., Inc. ("Schwab") can be traded without a commission on buy and sell transactions made online in a Schwab account. Schwab does not receive payment to promote any particular ETF to its customers. Schwab's affiliate Charles Schwab Investment Management, Inc. ("CSIM") serves as investment advisor to the Schwab ETFs™, which compensate CSIM out of the applicable operating expense ratios. The amount of the fees is disclosed in the prospectus of each ETF.

    4. Futures trading offered and positions held through Charles Schwab Futures, Inc., a separate but affiliated company of Charles Schwab & Co., Inc. Both are subsidiaries of The Charles Schwab Corporation. Futures trading involves substantial risk and is not suitable for all investors. Please read Risk Disclosure Statement for Futures and Options.

    5. International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. The Schwab Global Account is restricted to certain account types. Only U.S. citizens residing in the United States are eligible.

Quality order executions provide additional value for your trading.

Get potential savings7 beyond our low fees with Schwab’s quality order execution. See how we improved executed market orders in S&P 500 stocks during the previous quarter.

95.9%

Price Improvement

$12.29

Average Savings Per Order

0.05 sec8

Average Execution Speed

See our retail execution quality statistics >

Unlimited access to specialized trading platforms and support.

With Schwab Trading Services, you’ll get our most advanced and intuitive trading platforms, priority access to trading specialists and more—all with no hidden costs or requirements.

  • Full access to trading platforms and specialized support
  • Trading education and expert insights
  • Premium independent research tools
  • Real-time streaming quotes

4.6 out of 5 Client Rating for Schwab Trading Services among 1678 client reviews

  • #1 for Self-Directed Investing
    by J.D. Power

  • #1 Broker Overall ranking
    by Investor’s Business Daily

  • "Best in Class" Overall ranking
    by StockBrokers.com

Ready to start trading?

Open an account

Have questions? We’re here to help.

6. If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc. ("Schwab"), Charles Schwab Bank ("Schwab Bank"), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern within the time frames described below. Two kinds of "Fees" are eligible for this guarantee: (1) "Program Fees" for the Schwab Private Client ("SPC"), Schwab Managed Portfolios ("SMP"), Schwab Intelligent Portfolios Premium ("SIP Premium"), and Managed Account Connection ("Connection") investment advisory services sponsored by Schwab (together, the "Participating Services"); and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors ("Account Fees") or the Charles Schwab Bank Pricing Guide. Program Fee refund requests must be received no later than the next calendar quarter after the Fee was charged. Account Fee refund requests must be received within one year of the date that the Fee was charged.

For more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. The Connection service includes only accounts managed by Charles Schwab Investment Advisory, Inc. an affiliate of Schwab. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Schwab or managed by Schwab-affiliated advisors outside of the SPC, SMP, SIP Premium and Connection services.

The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses, and no market losses will be refunded. Other restrictions may apply. Schwab reserves the right to change or terminate the guarantee at any time.

7. Actual results may vary. Data cited here are averages for market orders of 500-1,999 shares in S&P 500® stocks during the previous quarter.

8. Execution speed is measured from the time Schwab sends an order to a market center until the time an execution is completed by the receiving market center. This is typically less than one second and excludes pre-trade review and the time that it takes for the order execution to be reported back to Schwab and posted to the order's status

Information about Clients Speak, Ratings and Reviews by Schwab clients

Ratings and reviews are submitted by clients voluntarily and are screened for acceptance in accordance with the Publishing Guidelines prior to publication. Please see the Publishing Guidelines for details regarding which reviews are published.

The average rating scores are based on published reviews for the indicated account(s) and services and do not incorporate ratings and reviews that do not satisfy the Publishing Guidelines. Ratings and reviews are added continuously and average ratings are updated dynamically as reviews are added or removed. During the period from 1/1/2013 to 8/21/2018, 3,847 reviews were submitted, 3,231 were accepted, and 616 were not accepted for publication in accordance with the Publishing Guidelines. Sorting of reviews by "Featured Reviews" first shows reviews selected by Charles Schwab & Co., Inc. and Schwab Bank based on subjective criteria deemed relevant at the time of selection including marketing priorities.

Ratings and opinions expressed by clients are not meant to suggest future performance or the suitability of any account type, product, or service for any particular client and may not be representative of the experience of other clients. Charles Schwab & Co., Inc. and Schwab Bank cannot guarantee the accuracy of the information included in client reviews.

Ratings and Reviews are powered by Bazaarvoice, a third-party vendor not affiliated with Charles Schwab & Co., Inc. or Schwab Bank.

If you have additional questions or concerns about Ratings & Reviews or would like to verify its authenticity, please contact a Schwab representative at either 800-435-4000, the phone number on your statement, or by email at ratingsandreviews@schwab.com.

Charles Schwab received the highest numerical score in the DIY segment of the J.D. Power 2019 Self-Directed Investor Satisfaction Study of investors’ satisfaction who use self-directed investment firms. Visit jdpower.com/awards.

Credit Notice: From Investor's Business Daily, January 28, 2019, ©2019 Investor's Business Daily, Inc. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution or retransmission of this Content without express written permission is prohibited. Results based on an Investor's Business Daily ('IBD") and Technometrica survey of 2,762 visitors to the IBD website between November and December 2018. Those individuals were asked to name and rate their primary online broker. Limiting data analysis to only those firms that were cited by 200 or more participants, six online brokers were ranked based on Customer Experience Index scores for fourteen separate attributes. For further information on how the ratings were calculated, see IBD's Criteria and Methodology.

StockBrokers.com: "2019 Online Broker Review," published February 19, 2019. Participation in the review is voluntary; a total of 16 online brokers submitted themselves for ranking for the 2019 review. The Online Broker Review assesses participating online brokers on 284 variables across nine categories: Commissions & Fees, Customer Service, Platforms & Tools, Research, Ease-of-Use, Offering of Investments, Education, Mobile Trading, and Banking. All categories, with the exception of "Banking," are factored in to the overall ranking. Star ratings are out of five possible stars and are based on a calculation that combines the variable assessment with an opinion score from 1-10 with 10 "very good" in StockBrokers.com's opinion. Best in Class are online brokers who have placed within the Top 5 for a category. Industry Awards are awarded based on the opinions of StockBrokers.com's research team. Read our 2019 Review. For further information on how the ratings were calculated, see StockBrokers.com's "How We Test".

Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can obtain a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV).

System availability and response times are subject to market conditions and mobile connection limitations. Trades received outside normal market hours will be entered the next business day.

Schwab Trading Services includes access to StreetSmart® trading platforms, the Schwab Trading Community, and Schwab trading specialists (a Schwab brokerage account is required). There are no fees to use Schwab Trading Services. Other account fees, optional data fees, fund expenses, and brokerage commissions may apply. Schwab reserves the right to restrict or modify access at any time. Schwab brokerage account online applications that have the "Schwab Trading Services" box checked will automatically be enrolled. For questions, call 888-245-6864 to speak to a Schwab Trading Services representative.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options." Supporting documentation for any claims or statistical information is available upon request.