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Charles Schwab vs Robinhood 2023

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Written by StockBrokers.com

April 11, 2023

Is Charles Schwab better than Robinhood? After testing 17 of the best online brokers over three months, Charles Schwab (94.51%) is better than Robinhood (83.65%). As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

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Overall RatingCharles SchwabRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.5/5 Stars N/A
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Charles Schwab Review Robinhood Review
Trading FeesCharles SchwabRobinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 N/A
Mutual Fund Trade Fee Varies N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $2.25 N/A
Broker Assisted Trade Fee $25 N/A
Margin RatesCharles SchwabRobinhood
Margin Rate Under $25,000 13.08% 11.50% info
Margin Rate $25,000 to $49,999.99 12.58% 11.50% info
Margin Rate $50,000 to $99,999.99 11.63% 11.50% info
Margin Rate $100,000 to $249,999.99 11.58% 11.50% info
Margin Rate $250,000 to $499,999.99 11.33% 11.50% info
Margin Rate $500,000 to $999,999.99 Varies info 11.50% info
Margin Rate Above $1,000,000 Varies info 11.50% info
Account FeesCharles SchwabRobinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $25.00 $100.00
Account Transfer Out (Full) $50.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsCharles SchwabRobinhood
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes Yes
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 17
Mutual Funds (No Load) 14996 0
Mutual Funds (Total) 17912 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 12 0
Order TypesCharles SchwabRobinhood
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes No
BeginnersCharles SchwabRobinhood
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading No No
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsCharles SchwabRobinhood
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No Yes
SB Gallery - Mobile Apps
Stock App FeaturesCharles SchwabRobinhood
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts No Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) No No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No Yes
Watch Lists - Total Fields 130 3
Stock App ChartingCharles SchwabRobinhood
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 32 6
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading PlatformsCharles SchwabRobinhood
Active Trading Platform StreetSmart Edge
Desktop Trading Platform Yes No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal Yes No
Watch Lists - Total Fields 130 3
Stock Chart FeaturesCharles SchwabRobinhood
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 41 6
Charting - Drawing Tools 15 0
Charting - Notes Yes No
Charting - Index Overlays Yes No
Charting - Historical Trades No No
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 7 1
Charting - Custom Studies No No
Day TradingCharles SchwabRobinhood
Streaming Time & Sales Yes No
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading No No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv No No
Short Locator Yes No
Order Liquidity Rebates No No
Research OverviewCharles SchwabRobinhood
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchCharles SchwabRobinhood
Stock Research - PDF Reports 7 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchCharles SchwabRobinhood
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchCharles SchwabRobinhood
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings 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
Options TradingCharles SchwabRobinhood
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 44 17
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes No
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingCharles SchwabRobinhood
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes Yes
Mortgage Loans Yes No
Customer ServiceCharles SchwabRobinhood
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallCharles SchwabRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 4.5/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Charles Schwab Review Robinhood Review
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Charles Schwab vs Robinhood Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Charles Schwab vs Robinhood.

Is Charles Schwab or Robinhood better for beginners?

Charles Schwab offers more comprehensive new investor education for beginner investors than Robinhood. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Robinhood offers investors access to Education (Stocks) and Education (Options). Neither have Paper Trading and Education (Mutual Funds). See our guide to Best Paper Trading Platforms for more.

What about Charles Schwab vs Robinhood pricing?

Charles Schwab and Robinhood charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Charles Schwab, costing $0.65 per contract versus $0.00 per contract at Robinhood. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Charles Schwab or Robinhood offer a wider range of investment options?

Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while Robinhood offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Neither have Forex Trading. Looking at Mutual Funds, Robinhood trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and Robinhood offering 0.

Which trading platform is better: Charles Schwab or Robinhood?

To compare the trading platforms of Charles Schwab and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while Robinhood offers Debit Cards.

Is Charles Schwab good?

As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

Is Robinhood good?

Robinhood is very easy to use and its educational content is a joy to read. But, in today’s competitive market for your investing dollars, there are several more compelling options among brokerages.

Charles Schwab vs Robinhood Winner

Overall winner: Charles Schwab

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