Schwab
Full-service brokerage with the powerful thinkorswim trading platform
How it works
Charles Schwab is one of the largest full-service brokerages in the world, offering commission-free stock and ETF trading alongside its flagship thinkorswim platform acquired through the TD Ameritrade merger. The platform supports nearly every account type, provides 24/7 customer support, and offers robo-advisory services through Schwab Intelligent Portfolios. With over 400 physical branches and extensive independent research from multiple providers, it serves everyone from beginners to professional traders.
Is it right for you?
Consider if you
- Active traders who want thinkorswim's institutional-grade tools and paper trading
- Investors who want every account type under one roof with 400+ physical branches
- Those seeking 24/7 customer support and extensive independent research
Skip if you
- Investors wanting direct cryptocurrency trading — Schwab offers only crypto ETFs
- Those who need fractional shares beyond S&P 500 stocks
Your money and data
Charles Schwab & Co., Inc. is an SEC-registered broker-dealer and FINRA/SIPC member. Your invested assets are SIPC-protected up to $500,000. Schwab provides excess SIPC coverage through Lloyd's of London of up to $150 million per customer, including up to $1.15 million in cash, with a $600 million aggregate policy limit. Cash swept to Schwab Bank is FDIC-insured up to $750,000 through a multi-bank sweep program.
Pros & Cons
Pros
- thinkorswim is one of the most powerful trading platforms available, with paperMoney
- 24/7 customer support via phone, chat, and 400+ physical branches nationwide
- Nearly every account type supported including 529s, trusts, and business accounts
Cons
- No direct cryptocurrency trading — only crypto-related ETFs
- Fractional shares limited to S&P 500 stocks via Stock Slices at $5 minimum each
- Cash sweep earns just 0.01% to 0.05% APY — far below competitors
Pricing details
$0 stock/ETF trades · $0.65/options contract · No account minimum · Intelligent Portfolios $5,000 minimum (no advisory fee)
On schwab.com · We may earn a commission
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