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You can set upmarket, limit, stop, and trailing stop orders with Robinhood, but contingent, multi-contingent, OCO, OTO, and OTOCO types are available with Schwab. In addition, Charles Schwab offers a more diverse platform for market orders. With Schwab, you can currently trade the following:

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With the recent news of a merger with TD Ameritrade, Schwab will have almost all investment types available for customers, although that still might not include a full cryptocurrency platform. In contrast, Charles Schwab aims to be the most diverse online brokerage on the market. However, you can use Robinhood for $0 commission trading on stocks, ETFs, options, and cryptocurrency. You won’t get any mutual funds or futures with a Robinhood account. Robinhood is meant to offer only the basics for investors.

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Should Schwab be your broker? See our guide to how to choose a broker. No minimum deposit or account balance is needed.Investors pay $0.65 per contract for options.Thousands of NTF mutual funds, but $49.95 mutual fund trade fees for others.$0 commission fees for stocks, ETFs, options, and some mutual funds.No minimum account balance or inactivity fees.Marin rates capped at 5% but you’ll pay $5/month for Robinhood Gold access.$0 commission fees for stocks, ETFs, options, and cryptocurrency trades.Margin rates go down as you grow your account, but it’s still quite expensive. You’ll pay over 9 percent margin if you have an account with a balance under $25,000. Margin trading costs more with Charles Schwab than almost all other brokerages. Other investments available include pink sheets, futures, bonds, mutual funds, and international trading. In addition to a $0 options base, you’ll pay $0.65 per contract fee. In October 2019, Schwab lowered its fees to $0 for stocks, ETFs, and options. Margin rates are capped at 5 percent, but you can also participate in margin trading if you sign up with Robinhood Gold for $5/month.Ĭharles Schwab is a larger, full-service brokerage. While the zero-fee guarantee brings in all kinds of investors, beginners who do not have access to research tools on Robinhood may spend more by not knowing the best price or having access to more analysis tools. The platform caters to beginners, but experts are not so sure. There are also no mutual funds, futures, or bonds available. Instead, the platform makes money by accepting payment for order flow. There are zero commission fees for stocks, options, ETF, and cryptocurrency trading. Contact 24/7 customer support at any time by phone, email, or chat.Test all of your strategies on StreetSmart Edge and Idea Hub.$0 commission fees on stocks, ETFs, options, and NTF mutual funds, although you’ll pay $49.95 for non-NTF mutual funds.StreetSmart Edge is the downloadable platform for advanced traders.

Larger brokerage offers more platforms to help with research, analysis, complex trade orders, and strategy testing.

Offers $0 commissions on stocks, ETFs, options, and cryptocurrency trading.

Light on research and education tools, so you may have to look elsewhere for more information.

Easy-to-use mobile app that offers a minimal interface that beginner and advanced traders can appreciate.

Robinhood, conversely, was built for millennials and offers a simple mobile app that may be easier to use. There is no end to the amount of knowledge, screeners, analysis tools, and other resources available through the veteran brokerage.Īs Charles Schwab looks to merge with TD Ameritrade, there may be no stopping this large brokerage from cornering the market even further – and stopping Robinhood in its tracks.Ĭharles Schwab has been around for roughly half a century, in that time becoming an online brokerage giant and symbol of trust for most amateur investors, particularly baby boomers. Ĭharles Schwab, on the other hand, is the complete opposite when it comes to investment tools and platforms. Robinhood Financial encourages its Customers to invest carefully and to use the information available at the websites of the SEC at and FINRA at. Investor Warning: All securities trading, whether in stocks, exchange-traded funds (“ETFs”), options, or other investment vehicles, is speculative in nature and involves substantial risk of loss.