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.

  • 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.3

  • OTC

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

  • $2.25 futures

    Futures

    $2.25 futures and futures options per contract, plus exchange & regulatory fees.4

  • 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.

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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

Online
$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.

View pricing

Additional pricing perks.

  • Viewing price improvement

    This is an example of price improvement received in the 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 exchange and regulatory fees combined into a single charge on a Schwab trade confirm.

    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?

Managing alerts, watchlists, and market data at Schwab is easy.

Alerts

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.
watchlist

Watchlists

Great news – all watchlists will be moving to Schwab. Here's what else to know about watchlists at Schwab.

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.

Market data

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.

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") and any amendments to the Guide for comprehensive details on fees.
     
  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.
  4. Commission rates depicted above are quotes on a per-contract, per-side basis. Exchange fees may vary by exchange and by product. 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.

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. 

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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