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Top Charles Schwab Competitors

Charles Schwab offers some excellent research tools and low fees, but these 5 alternatives may provide better services and benefits.

Charles Schwab offers low fees, robust research tools and a broad investment menu. But you can’t trade cryptocurrency through Schwab and it lacks a high-yield cash sweep program for your uninvested cash. Charles Schwab competitors provide all this and more.

5 Charles Schwab alternatives

Robinhood

Robinhood

9.4 Excellent

Get a free stock when you successfully sign up and link your bank account. T&Cs apply.
Read review
Robinhood is a broker known for low fees and an intuitive app. You can trade stocks, ETFs and options with no commissions. Plus, Robinhood doesn't charge a per-contract fee on options, which is quite rare for brokerages. Schwab charges $0.65 per contract — the industry standard.
Robinhood also pays 3.5% APY on uninvested cash with Robinhood Gold, which requires a $5 monthly subscription fee. However, you won't find the same powerful research tools and investment menu that Schwab offers.
Annual fee $0 per year
Minimum deposit $0
Signup bonus Get a free stock

Interactive Brokers

Interactive Brokers

9.4 Excellent

Read review
Interactive Brokers lets you invest in more than 100 markets compared to Schwab's 12 markets. Like Schwab, Interactive Brokers also provides advanced research tools, including a risk navigator and portfolio builder.
Its IBKR Lite platform, designed for beginners, charges no commissions on stock and ETF trades. But beyond this Lite platform, Interactive Brokers is known for tools that may be complex for inexperienced traders.
Annual fee $0 per year
Minimum deposit $0
Signup bonus N/A

SoFi Invest

SoFi Active Invest

9 Excellent

Get up to $1,000 in stock when you open and fund a new account. T&Cs apply.
Read review
SoFi Invest is a Charles Schwab alternative that offers no-fee commission stock and ETF trades. Beginners may be interested in its automated investing account. This automated account is a robo-advisor that uses computer technology to build and manage a personalized portfolio for you.
These portfolios invest in ETFs from large investment management companies like BlackRock and Vanguard. Charles Schwab's Intelligent Portfolios are similar but invest only in Schwab funds. You may find more diversification at SoFi®.
Annual fee $0 per month
Minimum deposit $0
Signup bonus Get up to $1,000 in stock

Webull

Webull

9.4 Excellent

Deposit or transfer $100,000+ to earn a 4% Match Bonus, or $2,000+ to earn a 3% Match Bonus. Plus: Get a $100 transfer fee reimbursement on your first brokerage transfer of $2,000 or more. T&Cs apply.
Read review
Webull is a mobile-first brokerage that offers commission-free trading for stocks, ETFs and equity options. Like Schwab, you can open an account with $0. Webull provides advanced charting, technical indicators and paper trading to help active traders test strategies. It also offers extended pre- and post-market hours, fractional shares and IRAs, making it a flexible alternative to Schwab.
Annual fee $0 per month
Minimum deposit $0
Signup bonus Get up to 2% match bonus

Fidelity Investments

Fidelity Investments

9 Excellent

Read review
Like Charles Schwab, Fidelity Investments is a full-service brokerage that offers commission-free stocks, ETFs and options. At Fidelity, you can also find thousands of funds that don't charge expense ratios.

Active traders can benefit from a wealth of research tools that include stock screeners with more than 100 criteria. Passive investors can take advantage of Fidelity Go, which combines a robo-advisor with an investment team's expertise. Fidelity Go charges no management fee on account balances of $10,000 or less.

Annual fee $0 per year
Minimum deposit $0
Signup bonus N/A

Pros and cons of Charles Schwab

Charles Schwab is one of the largest and most well-known brokers around. But it may not be the best for everyone. Here are some benefits and drawbacks to consider.

Pros

  • Several investment types to choose from
  • Powerful research tools
  • Low fees

Cons

  • No access to cryptocurrency
  • Few savings options to choose from
  • Large broker-assisted fees

Transfer your brokerage account

If you’re switching brokers, the process may vary depending on your current broker and which one you’re moving to. Charles Schwab charges $50 to transfer all funds to another broker and $25 for a partial transfer.
Charles Schwab engages in the Automated Customer Account Transfer Service (ACATS). So expect to go through the following process.

  1. Get a statement from your broker that has information like your account number and current assets.
  2. Open the same type of account with your new broker. For example, an individual brokerage account should go to another individual brokerage account.
  3. Fill out a transfer initiation or ACAT form with your current broker.
  4. Your current broker validates your form or notifies you of the next steps within three business days.
  5. Your old broker completes the process and moves funds within six business days.

Note: Some brokers don’t accept the proprietary funds of others. So you may not be able to transfer mutual funds or ETFs managed by your old broker.

Compare trading platforms

12 of 12 results
Finder Score Available asset types Stock trade fee Minimum deposit Cash sweep APY bullet point infobox
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Stocks, Bonds, Options, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Leverage powerful trading tools and low margin rates to trade stocks, options, ETFs, mutual funds and bonds.
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Stocks, Options, ETFs, Cryptocurrency, Futures, Event contracts, High-yield cash account
$0
$0
3.50%
Get a free stock when you successfully sign up and link your bank account. T&Cs apply.
Trade stocks, options, crypto and more, with advanced trading tools, fractional shares and exclusive perks for Gold members.
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Stocks, Bonds, Options, ETFs, Cryptocurrency, Investments, Retirement, Treasury Bills, High-yield cash account
$0
$0
3.6%
Get up to $10,000 and transfer fees covered when you move your portfolio to Public. T&Cs apply.
Build a diversified portfolio of stocks, bonds, options, ETFs and crypto, with a high-yield cash account and options contract rebates.
Important information
*Yield as of 04/09/2025. Learn more.
SoFi Wealth Management logo
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Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.01%
Get up to $1,000 in stock when you open and fund a new account. T&Cs apply.
Trade stocks, ETFs, and options with zero commissions, invest in IPOs or automate your portfolio, with exclusive perks available through SoFi Plus.
Important information
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA (www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease Robo Advisor: Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser. 0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and record keeping services separately. Terms and conditions apply*. For 401k rollovers, existing SoFi IRA members must complete 401k rollovers via this link For SoFi members without a SoFi IRA, a SoFi IRA must first be opened, and 401k rollover must be completed utilizing Capitalize via this link. SoFi and Capitalize will charge no additional fees to process a 401(k) rollover to a SoFi IRA. SoFi is not liable for any costs incurred from the existing 401k provider for rollover. Please check with your 401k provider for any fees or costs associated with the rollover. For IRA contributions, only deposits made via ACH and cash transfer from SoFi Bank accounts are eligible for the match. Click here for the 1% Match terms and conditions.
Webull logo
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Stocks, Bonds, Options, ETFs, Futures, Money market funds
$0
$0
3.60%
Deposit or transfer $100,000+ to earn a 4% Match Bonus, or $2,000+ to earn a 3% Match Bonus. Plus: Get a $100 transfer fee reimbursement on your first brokerage transfer of $2,000 or more. T&Cs apply.
Trade stocks, ETFs and equity options commission-free, with access to futures, advanced charting tools, a robo-advisor and event trading powered by Kalshi.
Interactive Brokers logo
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Stocks, Options, Mutual funds, ETFs, Cryptocurrency
$0
$0
3.83% Lite
4.83% Pro
Trade in a simulated trading environment and access a wide range of tradable assets.
eToro logo
Finder score
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Stocks, Options, ETFs, Cryptocurrency, Investments
$0
$0
3.75%
No commission stock, ETF and options trades, with 3.9% interest on your options account balance and no options contract fees. See full disclosure.
Important information
eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finder is not an affiliate and may be compensated if you access certain products or services offered by the BD.
Acorns logo
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Stocks, ETFs
$0
$0
N/A
Get a $20 bonus when you set up an account and make your first recurring investment (min. $5). T&Cs apply.
Automate investing with recurring contributions starting at $5 and invest spare change from everyday purchases.
Stash Investments LLC logo
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Stocks, ETFs
$0
$0
0.1%
Get $5 when you sign up and deposit $5. T&Cs apply.
Bank, automate your portfolio or invest in individual stocks and ETFs for as low as $3 per month.
Important information
Investment advisory services offered by Stash Investment LLC, a SEC registered investment advisor. Investing involves risk and investments may lose value. Holdings and performance are hypothetical. *Offer is subject to T&Cs
Wealthfront logo
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Stocks, ETFs, High-yield cash account
$0
$500
3.75%
Get a $50 bonus when you sign up and fund a taxable automated investing account with at least $500. T&Cs apply.
Automate your stock and bond portfolio or trade individual stocks for as little as $1 apiece. Plus, earn 3.50% APY on your cash.
JPMorgan logo
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Mutual funds, ETFs
$0
$25,000
N/A
Financial planning, advice and portfolio management. T&Cs apply.
Get ongoing access to an advisory team with personalized financial planning and expert-built portfolios. Provider terms & conditions apply
Important information
INVESTMENT PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE.
M1 Finance logo
Finder score
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Stocks, ETFs, Cryptocurrency
$0
$100
4.00%
Build a custom portfolio of stocks and ETFs with automatic rebalancing. Plus, earn 4.00% APY with a high-yield cash account.
Important information
M1 Finance, LLC does not charge commission, trading, or management fees for self-directed brokerage accounts. You may still be charged other fees such as M1’s platform fee, regulatory fees, account closure fees, or ADR fees. For a complete list of fees M1 may charge visit M1 Fee Schedule. M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc.. M1 High –Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC. Obtaining stated APY (annual percentage yield) with the M1 High-Yield Savings Account does not require a minimum account balance. Stated APY is accrued on account balance. APY is solely determined by M1 Spend LLC and its partner banks, and will include account fees that will reduce earnings. Rates are subject to change without notice. M1 High-Yield Savings Account is a separate offering from, and not linked to, the M1 High-Yield Cash Account offered by M1 Finance, LLC. M1 is not a bank.
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What is the Finder Score?

The Finder Score crunches 147 key metrics we collected directly from 18+ brokers and assessed each provider’s performance based on nine different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider to determine the best brokerage accounts.

We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

Read the full Finder Score breakdown

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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Writer

Javier Simon is a freelance finance writer at Finder and a certified educator in personal finance (CEPF). He’s featured on NerdWallet, Bankrate, Yahoo Finance and Fox Business, where he’s shared his expertise on personal finance topics, such as investing, retirement planning, taxes, budgeting and savings. He has also covered breaking news, such as student loan forgiveness initiatives, the housing market and inflation’s impact on consumers’ wallets. His passion is turning complex financial concepts into actionable content that can help people improve their financial lives. Javier holds a bachelor’s degree in multimedia journalism from SUNY Plattsburgh. See full bio

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