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Charles Schwab vs Robinhood 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Robinhood better than Charles Schwab? After scoring brokers in nine separate categories for our 2019 review, Charles Schwab (84.06%) is better than Robinhood (46.99%). Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $4.95 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future.

Special Offer $4.95 online equity trades + $0.65 per options contract Open Account
Open Account

Overall Rating

Feature Charles Schwab Robinhood
Overall 4 2.5
Charles Schwab Review Robinhood Review

Trading Fees

Feature Charles Schwab Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $4.95 $0.00
ETF Trade Fee $4.95 $0.00
Options Base Fee $4.95 $0.00
Options Per Contract Fee $0.65 $0.00
Mutual Fund Trade Fee $49.95 N/A
Broker Assisted Trades Fee $25.00 $0.00
Commissions & Fees 3.5 4.5
Winner check_circle

Margin Rates

Feature Charles Schwab
Open Account
Robinhood
Under $24,999.99 9.58% 5.00%
$25,000.00 to $49,999.99 9.08% 5.00%
$50,000.00 to $99,999.99 8.13% 5.00%
$100,000.00 to $249,999.99 8.08% 5.00%
$250,000.00 to $499,999.99 7.83% 5.00%
$500,000.00 to $999,999.99 6.58% 5.00%
Above $1,000,000.00 6.25% 5.00%
Commissions & Fees 3.5 4.5
Winner check_circle

Account Fees

Feature Charles Schwab Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $50.00 $0.00
Returned ACH Fee $25.00 $9.00
Returned Wire Fee $25.00 $9.00
Stock Certificate Processing Fee $100.00 N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $0.00 $5.00
Paper Confirmation Fee $0.00 $2.00
Domestic Wire Fee $25.00 $25.00
International Wire Fee $25.00 $50.00
Commissions & Fees 3.5 4.5

Investment Options

Feature Charles Schwab Robinhood
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 503 all
Mutual Funds (No Load)
5846 0
Mutual Funds (Total)
5846 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
Yes No
Offering of Investments 4.5 2
Winner check_circle

Order Types

Feature Charles Schwab Robinhood
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes No
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 2
Winner check_circle

Trading Platforms

Feature Charles Schwab Robinhood
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
Yes No
Watch Lists - Total Fields
108 7
Two-Factor Authentication Login
Yes Yes
Heat Mapping
Yes No
Platforms & Tools 4.5 1
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Charting Features

Feature Charles Schwab Robinhood
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
41 0
Charting - Drawing Tools
15 0
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes No
Charting - Study Customizations
6 0
Charting - Custom Studies
No No
Platforms & Tools 4.5 1
Winner check_circle

Day Trading

Feature Charles Schwab Robinhood
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes No
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes No
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Charles Schwab Robinhood
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Charles Schwab Robinhood
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
No Yes
Stock Alerts - Advanced Fields
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4 3.5
Winner check_circle

Research Overview

Feature Charles Schwab Robinhood
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Research - Futures
Yes No
Research - Forex
No No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes Yes
Research 5 1
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Stock Research

Feature Charles Schwab Robinhood
Stock Research - Reports
8 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 5 1
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ETF Research

Feature Charles Schwab Robinhood
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 5 1
Winner check_circle

Mutual Fund Research

Feature Charles Schwab Robinhood
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 5 1
Winner check_circle

Options Trading

Feature Charles Schwab Robinhood
Option Chains - Streaming
Yes No
Option Chains - Total Columns
41 5
Option Chains - Greeks
5 0
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 4.5 1
Winner check_circle

Beginners

Feature Charles Schwab Robinhood
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has Education - Retirement
Yes No
Paper Trading
No No
Videos
Yes No
Webinars (Monthly Avg)
50 0
Webinars (Archived)
Yes No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 4.5 2
Winner check_circle

Banking

Feature Charles Schwab Robinhood
Retail Locations
357 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No
Banking 4.5 0.5
Winner check_circle

Overall

Feature Charles Schwab Robinhood
Charles Schwab Review Robinhood Review
Overall 4 2.5
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Charles Schwab vs Robinhood to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Charles Schwab charges more than Robinhood for placing regular stock trades ($4.95 and $0, respectively). For options trading, Charles Schwab has a base fee of $4.95, and Robinhood a base fee of $0. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0 at Robinhood. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Robinhood supports Stock Trading and Options Trading while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Charles Schwab boasts an offering of 5846 mutual funds compared to Robinhood's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither broker offers virtual trading. For mobile trading, Both Charles Schwab and Robinhood offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while Robinhood offers none of these.

Overall, between Charles Schwab and Robinhood, Charles Schwab is the winner.

Charles Schwab Review
Robinhood Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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