Software · head to head
Robinhood vs Charles Schwab
The short version
- Only Robinhood has a free tier, so it costs nothing to try first.
- Each has a real cost: Robinhood robinhood Gold costs 5 USD a month after a 30 day free trial; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
- They diverge on capability: Robinhood covers Options trading, Charles Schwab covers Retirement planning.
Where they differ
Only the attributes on which Robinhood and Charles Schwab actually diverge.
| Attribute | Robinhood | Charles Schwab |
|---|---|---|
| Starting price | Free | On request |
| Pricing model | freemium | transaction |
| Free tier | Yes | No |
| Founded | 2013 | 1971 |
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Robinhood
- Options trading
- Crypto trading
- Fractional shares
- Crypto wallets
Only in Charles Schwab
- Retirement planning
- Wealth management
- Research tools
- Investment accounts
Both cover
- Commission-free trading
- Bank accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Robinhood
- Commission free trading of US stocks and ETFs from a phonenot Charles Schwab
- Options and futures trading for retail investorsnot Charles Schwab
- Holding an IRA with a contribution matchnot Charles Schwab
Charles Schwab
- Budget Managementnot Robinhood
- Expense Trackingnot Robinhood
- Investment Trackingnot Robinhood
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Robinhood
- Robinhood Gold costs 5 USD a month after a 30 day free trial
- The 3.35 percent APY on brokerage cash is available only to Gold subscribers
- The 3 percent IRA contribution match requires keeping the Gold subscription for one year and leaving the assets in the IRA for five years, and is capped at 225 USD against 2026 contribution maximums
- Reduced contract fees of 0.50 USD per futures contract and 0.35 USD per index option apply only to Gold subscribers
- Management fees are waived only above 100K USD in expert managed portfolios
Charles Schwab
- Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
- Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile
Pricing, plan by plan
Robinhood
Free- FreeFree
- Commission-free trading
- Real-time data
- Mobile app
- Gold$4.99/month
- All Free features
- Extended hours trading
- Premium research
Charles Schwab
On request- Individual BrokerageFree
- Commission-free trading
- Research tools
- Schwab Advisor Services$undefined/month
- All Brokerage features
- Wealth management
- Personal advisors
Which should you pick?
Choose Robinhood if
- You need options trading.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want crypto trading.
Choose Charles Schwab if
- You need retirement planning.
- You work on Web, IOS, Android.
- You also want wealth management.
Questions people ask
- Is Robinhood or Charles Schwab better?
- Neither clearly leads. Robinhood starts at Free and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Robinhood or Charles Schwab?
- Robinhood has a free tier; the other does not. Paid plans start at Free for Robinhood and On request for Charles Schwab.
- Does Robinhood or Charles Schwab run on more platforms?
- Both run on Web, IOS, Android, so platform support will not decide this one for you.
- Can I use Robinhood for free?
- Yes. Robinhood has a free tier, so you can try it without paying. Charles Schwab starts at On request.
- What is Robinhood best used for?
- Robinhood is most often used for commission free trading of us stocks and etfs from a phone, options and futures trading for retail investors, holding an ira with a contribution match. Of those, commission free trading of us stocks and etfs from a phone and options and futures trading for retail investors are not what Charles Schwab is typically brought in for.
- What can Robinhood do that Charles Schwab cannot?
- Robinhood covers Options trading, Crypto trading, Fractional shares, Crypto wallets. Charles Schwab covers Retirement planning, Wealth management, Research tools, Investment accounts. Both handle Commission-free trading, Bank accounts, Web support, IOS support.
Related pages
More on Charles Schwab
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