Charles Schwab is a leading US broker now combined with TD Ameritrade, offering $0 commissions, thinkorswim platform, and comprehensive wealth management.
✓ Pros
- $0 commissions
- thinkorswim platform included
- Excellent customer service
- Bank integration
✗ Cons
- Options $0.65/contract
- Some complexity after TD merger
- Fractional shares limited to S&P 500
Fees & costs
- Min. deposit
- €$0
- Trading
- $0 for stocks and ETFs, options $0.65/contract
- Stock fee
- $0
- Spread
- N/A (exchange-traded equities, commission-free)
- Deposits
- Free
- Withdrawals
- Free
- Inactivity
- None
Platforms & features
✓
thinkorswim
Professional-grade trading platform with advanced charting
✓
Schwab Mobile
Full-featured mobile trading app
✓
Fractional Shares
Stock Slices for S&P 500 stocks starting at $5
✓
Paper Trading
Practice trading with paperMoney on thinkorswim
✓
Schwab Intelligent Portfolios
Automated robo-advisor investing
✓
Banking Integration
Checking account with debit card and bill pay
✓
24/7 Customer Service
Round-the-clock phone and chat support
Who this fits best
✓ all_investors✓ retirement_savers✓ banking_integration_seekers
Note: options $0.65/contract.
Account opening steps
- 1.
Choose Account Type
Visit Schwab.com and select from brokerage, IRA, or banking accounts
- 2.
Provide Personal Information
Enter your SSN, date of birth, employment, and financial details
- 3.
Verify Identity
Complete identity verification online or visit a Schwab branch
- 4.
Fund Your Account
Link bank account for ACH transfer, or fund via wire or check
- 5.
Access thinkorswim
Download thinkorswim platform or use web/mobile apps to start trading
Frequently asked
What is the minimum deposit at Charles Schwab?
Charles Schwab has no minimum deposit requirement for brokerage accounts. You can open an account with any amount.
Is Charles Schwab the same as TD Ameritrade?
Charles Schwab acquired TD Ameritrade in 2020. TD Ameritrade accounts have been fully migrated to Schwab, with thinkorswim platform now available to all Schwab clients.
Does Schwab offer commission-free trading?
Yes, Schwab offers $0 commission trading on US stocks and ETFs. Options are $0.65 per contract.
What is thinkorswim?
thinkorswim is a professional-grade trading platform originally from TD Ameritrade, now available to all Schwab clients. It offers advanced charting, analysis tools, and paper trading.
Can I buy fractional shares at Schwab?
Yes, through Stock Slices you can buy fractional shares of S&P 500 stocks with as little as $5. Full fractional share support for other stocks is coming.
Does Schwab have physical branches?
Yes, Charles Schwab has over 300 physical branches across the US where you can get in-person support and advice.
What banking services does Schwab offer?
Schwab offers checking accounts with no fees, a debit card with no ATM fees worldwide, and bill pay services fully integrated with your brokerage account.