Schwab Trading Pricing

You can expect the low-cost pricing, commissions, and fees you depend on. In fact, most TD Ameritrade clients will experience pricing that is the same or better when they move to Schwab.

Low commissions? Count on it.

  • ICN-Zero-small_3.png

    Stocks and ETFs

    $0 commissions on U.S. exchange-listed stock and ETF online trades.1, 2

  • Options

    $0 online base commission + $0.65 per-contract fee.1

  • U.S. OTC Securities

    $6.95 commission per over-the-counter stock trade.1

  • $2.25 futures

    Futures and Futures Options

    $2.25 futures and futures options per contract, plus exchange and regulatory fees.3

  • You’ll pay $0 to trade any of the thousands of mutual funds from Schwab Mutual Fund OneSource.

    Forex

    $0 commission for forex currency trading. Trade cost is reflected in the bid/ask spread.

Take a closer look at our pricing.

U.S. Listed Stocks and ETFs

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U.S. Listed Stocks and ETF Commissions per Executed Trade
Online $0
Automated Phone $5
Broker-Assisted $25

Options

Options Commissions per Executed Trade
Online $0 base commission,
plus $0.65 per-contract fee
Automated Phone $5, plus $0.65 per-contract fee
Broker-Assisted $25, plus $0.65 per-contract fee

Note: Per-contract fees are waived for buy-to-close options trades executed online for $0.05 or less.
 

Over-the-Counter (OTC)

Over-The-Counter Pricing
U.S. Over-the-Counter (OTC) Equities Commissions per Executed Trade

Online
$6.95 
Automated Phone  Online commission plus $5
Broker-Assisted  Online commission plus $25

Futures

Futures and Futures Options Commissions
Futures and Futures Options Commissions

Futures $2.25 per contract*
Futures Options  $2.25 per contract*
Broker-Assisted $2.25 per contract*

*Note: Commission rates depicted above are quotes on a per-contract, per-side basis. Pricing does not include customary National Futures Association (NFA) and exchange fees. Additional fees may apply at some foreign exchanges. NFA and exchange fees may increase or decrease depending on the rates set by NFA or by the various futures exchanges, as applicable. Additional market data fees may apply at some futures exchanges.

Forex

Forex Currency Commissions
Forex Currency         $0 commission

Forex currency pairs are traded in increments of 10,000 units and there is no commission. The cost of the trade is reflected in the bid/ask spread.

Canadian Stock Transactions

Online Automated Phone          Broker-Assisted
Canadian Securities (Traded on U.S. exchanges) $0              $5                                       $25
Canadian Securities (Local exchange & over-the-counter (OTC)) $6.95        Online commission plus $5      Online commission plus $25

Foreign Stock Transactions

Foreign Stock Pricing
Online Automated Phone          Broker-Assisted
Trades placed on the U.S. over-the-counter (OTC) market* 
$50 foreign transaction fee $55 ($5 plus a $50 foreign transaction fee) $75 ($25 plus a $50 foreign transaction fee)
Foreign stock transactions placed directly on a foreign exchange
Not available Not available        The greater of $100 or 0.75% of principal, with no maximum

* Transactions in foreign ordinary shares incur additional custody, clearing and settlement expenses. A foreign transaction fee is added to trades placed on the U.S. over-the-counter market through the online or automated phone channels. The commission and foreign transaction fee will be combined and will appear as one line item, labeled "Commissions," on the trade confirmation.

Margin

Expect low margin interest rates here, too.
Here's what you need to know:
  • When your account moves to Schwab, your margin feature will move with it.
  • Margin interest is accrued daily and posted to the account monthly.
  • Schwab doesn't charge interest on margin balances under $100.

    See current margin rates and requirements>

See all Schwab pricing, trading fees, and minimums.

View pricing

Additional pricing perks.

  • Viewing price improvement

    This is an example of a price improvement received in "Order Status" on Schwab.com.

    Every time you buy or sell, Schwab scans for a better price. Orders are often filled at prices better than the National Best Bid and Offer (NBBO). You'll be able to view any price improvement received for eligible orders in your Order Status on Schwab.com.

  • Viewing exchange and regulatory fees

    This is an example of the exchange and regulatory fees combined into one charge on a Charles Schwab trade confirmation.

    Certain trades will be subject to exchange process fees - similar to regulatory and miscellaneous fees at TD Ameritrade. Schwab charges an exchange process fee to offset fees imposed directly or indirectly by national securities exchanges, self-regulatory organizations, or U.S. option exchanges. You'll see exchange process fees combined into a single charge and clearly noted on your trade confirmations and statements.

Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

Investing involves risk including loss of principal.

  1. Standard online $0 commission does not apply to over-the-counter (OTC) equities, transaction-fee mutual funds, futures, fixed-income investments, or trades placed directly on a foreign exchange or in the Canadian market. Options trades will be subject to the standard $0.65 per-contract fee. Service charges apply for trades placed through a broker ($25) or by automated phone ($5). Exchange process, ADR, and Stock Borrow fees still apply. See the Charles Schwab Pricing Guide for Individual Investors ("the Guide") for full fee and commission schedules.
     
  2. ETFs at Charles Schwab & Co., Inc. ("Schwab") which are U.S. exchange-listed can be traded without a commission on buy and sell transactions made online in a Schwab account. Unlisted ETFs are subject to a commission. Please see the pricing guide for additional information. Schwab does not receive payment to promote any particular ETF to its customers. Schwab's affiliate Charles Schwab Investment Management, Inc. ("CSIM") serves as investment advisor to the Schwab ETFs, which compensate CSIM out of the applicable operating expense ratios. The amount of the fees is disclosed in the prospectus of each ETF.
     
  3. Please see the Charles Schwab Pricing Guide for detailed information on equity and options commissions. Multiple-leg options strategies will involve multiple commissions. Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options before considering any options transaction. Supporting documentation for any claims or statistical information is available upon request.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options." Supporting documentation for any claims or statistical information is available upon request.

Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement prior to trading futures products.

Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. Please read the NFA Booklet Trading Forex: What Investors Need to Know prior to trading forex products.

Futures and forex accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Futures, futures options, and forex trading services provided by Charles Schwab Futures and Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify. Forex accounts are not available to residents of Ohio or Arizona.

Charles Schwab Futures and Forex LLC, a CFTC-registered Futures Commission Merchant and NFA Forex Dealer Member. Charles Schwab Futures and Forex LLC is a subsidiary of The Charles Schwab Corporation. 

Schwab receives remuneration from third-party active semi-transparent (also known as non-transparent) ETFs or their sponsors for platform support and technology, shareholder communications, reporting, and similar administrative services for third-party active semi-transparent ETFs available at Schwab. This fee will vary, but typically is an asset-based fee of 0.10% per annum of the assets held at Schwab. Neither Schwab's affiliate CSIM nor Schwab active semi-transparent ETFs pay a separate fee to Schwab for these services described, although CSIM reimburses Schwab, in its capacity as an affiliated financial intermediary of CSIM's, for Schwab's costs in providing certain professional, administrative, and support services for the Schwab ETFs.
  
Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling Schwab at 800-435-4000. Please read the prospectus carefully before investing.

Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares of ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV).

The Charles Schwab Corporation ("Charles Schwab") provides a full range of brokerage, banking, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. ("Schwab"), Member SIPC, offers investment services and products, including the Schwab One® brokerage account. Its banking subsidiary Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender) provides deposit and lending services and products. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

Schwab.com and the Schwab Mobile app require a wireless signal or mobile connection. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Functionality may vary by operating system and/or device. Mobile carrier data charges may apply.

TD Ameritrade, Inc., member FINRA/SIPC, is a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. 

This site is designed for U.S. residents. Non-U.S. residents are subject to country-specific restrictions. Learn more about our services for non-U.S. residents.

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