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Charles Schwab review

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

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Charles Schwab suits self-directed investors who want a wide market spread without paying to hold the account. Stock trades run at $0, the account fee is $0 and the inactivity fee is $0, so costs sit at the floor of the market.

Key facts

Best for
Investors who self-manage a wide portfolio of stocks, ETFs, options, futures, bonds and funds.
Minimum deposit
$0↗
Stock trade fee
$0↗
Account fee
$0↗
Inactivity fee
$0↗
Markets
Stocks, ETFs, Options, Futures, Bonds, Funds↗
Regulators
SIPC↗
Investor protection
SIPC up to USD 500,000↗
Margin rate
12.075%↗
Options contract fee
$0.65↗
Platforms
Thinkorswim, Schwab Mobile↗
Account types
IRA, Roth-IRA, Joint, Corporate↗
Legal entity
CHARLES SCHWAB & CO INC↗
Headquarters
United States↗
Support channels
Chat, Phone, Help-centre↗
Features
Fractional shares, Demo account, Mobile app
Pricing model
Commission-free
Official website
schwab.com

Robo-advisors

Management fee
0%↗
Minimum investment
$5,000↗
Portfolio types
ETF, Cash↗

Facts checked September 26, 2026, 8 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • Stock trades at $0 and commission-free pricing across the brokerage account
  • No account fee at $0 and no inactivity fee at $0
  • Markets cover stocks, ETFs, options, futures, bonds and funds under stocks, etfs and options
  • Fractional shares, a demo account and a mobile app listed under fractional shares, demo account and mobile app

Cons

  • Robo portfolios start at a minimum investment of $5,000, well above the $0 minimum for the brokerage account
  • Options contracts carry a fee of $0.65 per contract
  • Help runs on chat, phone and help centre only, with email not among them
Charles Schwab

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Scored 9.0 / 10 by SumCue.

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Who it suits

  • Self-directed investors trading stocks and ETFs at low cost
  • Retirement savers using an IRA, Roth IRA, joint or corporate account
  • Investors building a managed portfolio without a recurring charge

Who should look elsewhere

  • Anyone wanting a managed portfolio without a minimum investment of $5,000
  • Option traders put off by a fee of $0.65 per contract
  • Traders who need email support, since help runs on chat, phone and help centre only

Safety of your money

Client money sits with a US broker under SIPC, listed as the regulator for the country. The protection on holdings is stated as SIPC up to USD 500,000, which sets the cap the scheme pays out on. The membership record reads SIPC member 16514, so the cover attaches to a named entity rather than to the brand alone.

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

What does it cost to trade stocks?+

Stock trades run at $0, and the pricing model is commission-free. There is no account charge on top, since the account fee is $0. Trading under the same account means regular dealing costs nothing beyond the spread you meet in the market.

Is there a fee for leaving money idle?+

The inactivity fee is $0, so an untouched account is not charged for sitting still. That matters for long-term savers who fund an account and then leave it alone for years, a pattern that costs elsewhere in the market.

How much do I need to open an account?+

The minimum deposit is $0, so the account can be opened at a low entry point. Managed portfolios are different: the Intelligent Portfolios product asks for a minimum investment of $5,000, which is a far higher starting bar for the same provider.

What protection covers my investments?+

SIPC is named as the regulator for the US, and the protection on holdings is stated as SIPC up to USD 500,000. The membership record reads SIPC member 16514, which ties the cover to a specific legal entity rather than to the brand name alone.

What can I actually buy?+

The market list covers stocks, ETFs, options, futures, bonds and funds. Managed portfolios hold ETFs and cash. Options carry a fee of $0.65 per contract, while regular stock trades run at $0.

What account types are on offer?+

Available account types include an IRA, a Roth IRA, a joint account and a corporate account. Each is listed under the account types offered, with retirement wrappers alongside standard and joint ownership.

Which platforms can I use?+

Access runs through the thinkorswim platform and Schwab Mobile, both named as the platforms offered. The feature set also lists fractional shares, a demo account and a mobile app, so small starting amounts and practice runs are possible.

How do I get help?+

Support runs on chat, phone and help centre, which covers live chat, phone and a help centre. Email is not part of that list, so anyone who prefers written email replies should expect to use chat or the phone line instead.

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

Investors who self-manage a wide portfolio of stocks, ETFs, options, futures, bonds and funds.

9.0/10See alternatives