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 Summary List Placement
Charles Schwab offers low-cost index funds and ETFs with no account minimums or maintenance fees.
Schwab charges $0 commissions on stock, ETF, or options trades, and offers free fractional trading.
Schwab’s Intelligent Portfolios robo-adviser is free and offers automatic rebalancing and more.
See Business Insider’s picks for the best online brokerage »

Updated on 4/22/2021: We updated this review with a comparison table highlighting the fees and offerings of Charles Schwab and other similar online brokerages. We also updated the review with the Better Business Bureau’s current customer complaint statistics on Schwab.

Table of Contents: Masthead StickyIs Charles Schwab right for you?

Editor’s rating
4.9 out of 5

Fees
0% ($0 Schwab Intelligent Portfolios; $30/month Schwab Intelligent Portfolios Premium)

Account minimum
$0 ($5,000 for Schwab Intelligent Portfolios; $25,000 Schwab Intelligent Portfolios Premium)

Promotion
Get up to $500 when referred by an existing Schwab user.

Open account

Founded in 1971, Charles Schwab has been a leader in the discount brokerage industry for over 45 years. In fact, in 2020 Schwab completed acquisitions of several companies, including Motif and TD Ameritrade. The company also acquired USAA’s brokerage business (existing USAA clients can consult Victory Capital for mutual funds, 529 college savings plans, and ETFs).

Charles Schwab is one of the few companies that tries to offer both “convenience” and “low cost” in one brokerage package. While it features inexpensive index funds and ETFs and charges zero trade commissions on most assets, it also has a network of over 350 physical branches scattered throughout the United States.

Today, it manages $6.9 trillion in assets and has hundreds of billions invested in its index mutual funds and ETFs. In this review, we’ll take a closer look at Schwab’s products, services, and fees to help you decide if it’s the right broker for you.

Min. Investment

$0; $5,000 Schwab Intelligent Portfolios ($25,000 Schwab Intelligent Portfolios Premium)

Min. Investment

$0 ($100 for automated advice)

Min. Investment

$0 ($3,000 Vanguard Digital Advisor and $50,000 Vanguard Personal Advisor Services)

Fees

0% ($0 Schwab Intelligent Portfolios; $30/month Schwab Intelligent Portfolios Premium)

Fees

0% (bonds, mutual funds, and other securities have trading fees)

Fees

0%; 0.15% to 0.30% for professionally managed portfolios ($20 annual account service fee for brokerage accounts and IRAs)

Investment choices

Stocks, ETFs, options, futures, mutual funds, money market funds, bonds, and annuities

Investment choices

Stocks, ETFs, options, bonds, mutual funds, and forex

Investment choices

Stocks, ETFs, bonds, mutual funds, CDs, Vanguard ESG …read more

Source:: Business Insider

      

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