StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure
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 | ||
| 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 | ||
| 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 | ||
| 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 |
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 | ||
| 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 | ||
| 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 | ||
| Winner | check_circle |
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 | ||
| 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 | ||
| 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 | ||
| Winner | check_circle |
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 | ||
| Winner | check_circle |
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 | ||
| 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 | ||
| 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 | ||
| 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 | ||
| 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 | ||
| Winner | check_circle |
Overall
| Feature | Charles Schwab | Robinhood |
| Charles Schwab Review | Robinhood Review | |
| Overall | ||
| 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
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.
