Schwab Trading Pricing and Features
Yes, you can expect the low pricing and essential trading features 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.
Stocks and ETFs
$0 commissions on U.S. exchange-listed stock and ETF online trades.1, 2
$0 online base commission + $0.65 per-contract fee.3
$6.95 commission per over-the-counter stock trade.1
$2.25 futures and futures options per contract, plus exchange & regulatory fees.4
$0 commission for forex currency trading. Trade cost is reflected in the bid/ask spread.
Take a closer look at our pricing.
caption copy Stocks and ETFs Commissions per Executed Trade Online $0 Automated Phone $5 Broker-Assisted $25
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.
Note: There are no commissions or per-contract fees assessed on transactions resulting from options exercises and assignments.
Over-The-Counter Pricing U.S. Over-the-Counter (OTC) Equities Commissions per Executed Trade
$6.95 Automated Phone Online commission plus $5 Broker-Assisted Online commission plus $25
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 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.
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 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.
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.
Additional pricing perks.
Viewing price improvement
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
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.
Looking for cost basis and realized gain/loss details?
Here's what you need to know:
- thinkorswim® users: Your alerts are moving to Schwab and will remain fully accessible.
- TD Ameritrade web and mobile users: You'll need to set new alerts after the account move.
How to establish alert settings on Schwab.com.
1. After you log in, navigate Service > Alert Settings.
2. To make sure you receive alerts, confirm your email address and phone number.
3. Select how you want to receive alerts regarding your portfolio.
4. Select how you want to receive alerts for profile changes or when deposits and transfers occur.
How to set alerts on Schwab.com.
1. After you log in, navigate Service > Alerts.
2. Choose from a wide range of portfolio, research, and securities alerts.
How to establish alert settings on the Schwab Mobile app.
1. Log in and, from the Summary screen, tap on the profile icon.
2. From the Profile menu, select Alert Settings.
3. On this screen you can explore and update your alert settings.
Great news – all watchlists will be moving to Schwab. Here's what else to know about watchlists at Schwab.
- Watchlists will be synced automatically across the thinkorswim suite of platforms.
- Watchlists will be synced automatically between Schwab.com and the Schwab Mobile app.
- Watchlists will be synced between tdameritrade.com and Schwab.com when you first move to Schwab.
- Watch lists saved in TD Ameritrade's mobile app will move to Schwab; any saved locally to your mobile device will not.
How to create and edit watchlists on Schwab.com.
1. After you log in, navigate to Research > Watchlist.
2. Look for the Manage watchlists dropdown menu for easy access.
3. From here, it's easy to create, edit, and delete watchlists.
Schwab provides real-time streaming quotes free of charge to nonprofessional clients. Here's what else you can expect.
- There will be no market data changes for traders using the thinkorswim suite of platforms.
- Nasdaq TotalView (Level 2) quotes are available on thinkorswim, which will be available at Schwab later in 2023.
- You'll receive quotes from the Toronto Stock Exchange (TSX) for Canadian equities on Schwab.com; thinkorswim users will receive OTC quotes for Canadian equities.