Charles Schwab vs Robinhood Comparison: Fees, Features, and More (2026)

Charles Schwab and Robinhood are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Charles Schwab vs Robinhood (2026)
Feature Charles Schwab Robinhood
Website https://www.schwab.com/ https://robinhood.com/
Broker Type Full-service Online discount brokerage (mobile app, web, Legend)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 online (listed stocks/ETFs) $0 commissions (SEC/FINRA sell fees may apply)
Fractional Shares? Yes (most U.S.-listed stocks/ETFs, from $1) Yes ($1 min; most NMS stocks/ETFs)
Percent Allocations? Yes (Personalized Portfolio Builder) No
Crypto Trading? Yes, via Schwab Crypto (BTC/ETH currently; not NY/LA/territories) Yes (US-wide via Robinhood Crypto, LLC; all states, DC, PR, USVI)
Crypto Fees 0.75% of notional value (min $0.01) per buy/sell MM routing: $0 commissions (RH rebate in spread); exchange routing: 0.00-0.95% volume-tiered maker/taker; transfers $0 + network fees
Options Trading? Yes Yes
Options Fee $0 online commission + $0.65 per contract $0 commissions for stock/ETF options; $0.35 Gold/$0.50 non-Gold per index contract plus regulatory/exchange fees
Bond Trading Available? Yes No (individual bonds/fixed-income not supported; bond ETFs/CEFs available)
Receives payment for order flow (PFOF)? Yes (receives PFOF rebates) Yes (receives PFOF/rebates from market makers for equities, options, and crypto)
Interface: Web trading? Yes Yes (web including Legend browser platform; iOS/Android mobile apps)
Desktop trading? Yes, thinkorswim desktop (Windows/Mac; free for brokerage clients) No; Robinhood Legend is a free browser-based (web) platform, not downloadable.
API Trading? Yes, Trader API (Individual) for self-directed retail accounts (orders, data; via developer.schwab.com) Yes for crypto (official US Crypto Trading API); no official stocks/equities trading API.
Mutual Funds: Offered? Yes No
Total Mutual Funds ~14,500 from 600+ families (incl. 4,000+ NTF) 0
NTF Mutual Funds 4,000+ (no-load via OneSource & others) 0
Non-NTF Fund Fee Up to $74.95/buy online ($0 sell); some $49.95; 8.5% cap, <$100 exempt N/A
Early Redemption Fee? No; $49.95 Schwab fee on NTF funds held ≤90 days (some exemptions) N/A
Redemption Hold (Days) 90 days (NTF/OneSource funds; some Schwab Funds exempt) N/A
Early Redemption Fee $49.95 online/automated phone; $49.95 + $25 broker-assisted N/A
Accounts: Margin Accounts? Yes ($2,000 min. cash or marginable securities) Yes
IRAs Offered? Yes (Traditional, Roth, SEP, Rollover, Inherited, Custodial, SIMPLE) Yes (Traditional and Roth; no SEP)
HSAs Offered? Yes (HSBA via participating HSA providers; no standalone Schwab HSA) No
Money Market Sweep? Yes (Cash Features Program: Bank Sweep or Schwab One Interest) Yes
CDs Offered? Yes (brokered CDs via Schwab CD OneSource) No
Robo-Advisor: Offered Yes Yes (Robinhood Strategies hybrid managed portfolios)
Robo-Advisor Service Schwab Intelligent Portfolios® (Premium also offered) Robinhood Strategies
Robo-Advisor Fees $0 advisory (standard); $300 one-time + $30/mo (Premium); ETF OERs 0.02–0.15%. Mins $5k/$25k. 0.25% AUM/yr; Gold ($5/mo): 0% over $100k ($250/yr cap). $50 min. ETF expenses extra.
Basics: Headquarters Westlake, TX Menlo Park, CA
Year Founded 1971 2013
Clearing Firm Charles Schwab & Co., Inc. (self-clearing) Robinhood Securities, LLC
Local Branches? Yes, more than 420 branches in 48 U.S. states No
New Account Minimum $0 $0

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