Charles Schwab vs Robinhood
An honest side-by-side comparison of two of our top investment platforms picks — pricing, strengths, weaknesses, and who each one is really for.
Charles Schwab
Ranked #2 of 15 in this directory
Leading full-service brokerage with excellent customer service and branch network
Robinhood
Ranked #4 of 15 in this directory
Commission-free trading app that democratized investing for a new generation
Our pick: Charles Schwab. Our editors rank Charles Schwab higher overall in Investment Platforms — but Robinhood can be the better fit depending on your budget and use case below. How we review
Compare the details
| Charles Schwab | Robinhood | |
|---|---|---|
| Pricing model | Freemium | Freemium |
| Starting price | See website | See website |
| Category | Brokerage | Brokerage |
| Editorial rank | #2 of 15 | #4 of 15 |
Strengths
Charles Schwab
- ✓Zero-commission trades with access to the thinkorswim platform from TD Ameritrade
- ✓Excellent customer service consistently rated among the best in the industry
- ✓Physical branch network for in-person consultations and support
- ✓Schwab Intelligent Portfolios offers free robo-advisory with no advisory fee
- ✓Comprehensive banking products including checking, savings, and credit cards
Robinhood
- ✓Intuitive mobile app that makes investing approachable for beginners
- ✓No account minimums and fractional shares starting at $1
- ✓Commission-free stocks, ETFs, options, and cryptocurrency trading
- ✓Robinhood Gold offers competitive cash interest rates
- ✓IPO access lets retail investors participate in initial public offerings
Watch out for
Charles Schwab
- !Schwab Intelligent Portfolios requires a $5,000 minimum investment
- !Integration of TD Ameritrade features is still ongoing
- !Fractional shares limited to S&P 500 stocks through Schwab Stock Slices
- !International trading options are more limited than some competitors
Robinhood
- !Limited research and analysis tools compared to full-service brokerages
- !No retirement accounts like IRAs or 401(k) rollovers until recently
- !Customer service has historically been difficult to reach
- !Gamified interface may encourage excessive trading behavior
Best use cases
Charles Schwab
- →Investor wanting a full-service platform with both online and branch access
- →Active trader seeking the advanced thinkorswim charting and analysis tools
- →Saver wanting integrated brokerage and banking under one roof
Robinhood
- →First-time investor wanting a simple, mobile-first way to start investing
- →Young adult building a portfolio with fractional shares and small amounts
- →Crypto-curious investor wanting stocks and crypto on one platform
About each tool
Charles Schwab
Charles Schwab is a premier investment platform offering zero-commission stock and ETF trading, a vast mutual fund marketplace, and comprehensive financial planning services. Following its merger with TD Ameritrade, Schwab now combines the best of both platforms including the thinkorswim trading platform. Schwab is known for outstanding customer service, a network of physical branches, and a commitment to serving everyday investors. The company offers proprietary Schwab Intelligent Portfolios robo-advisory service and a full range of banking products.
Robinhood
Robinhood pioneered commission-free trading and made investing accessible to millions of first-time investors through its intuitive mobile app. The platform offers stocks, ETFs, options, and cryptocurrency trading with no minimum account balance. Robinhood Gold provides margin trading, professional research from Morningstar, and higher interest on uninvested cash. While Robinhood has faced criticism for its gamification of trading and limited research tools, it remains the gateway platform for many young investors entering the market for the first time.
Still deciding? Browse all 15 options with honest pros, cons, and pricing.
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