Charles Schwab Fee Schedule Explained (June 2026)

Charles Schwab advertises commission-free trading, and for the most common trades that is true. But "free" never covers everything. If you trade options, buy certain mutual funds, borrow on margin, or call a broker, fees still apply. Knowing them ahead of time keeps surprises off your statement.

Here is a plain breakdown of what Schwab charges as of June 2026. Fees change, so always confirm current numbers in Schwab's official Pricing Guide before you act. For a fuller look at the platform beyond costs, see our Charles Schwab review.

Key Schwab Fees at a Glance

These are the headline numbers. The sections below explain when each one actually hits.

Stock and ETF Trades: $0

Online stock and ETF trades on US exchanges carry no commission at Schwab. There is also no account minimum to open a standard brokerage account, so you can start with whatever amount you have.

The one cost worth noting on every trade across the whole industry is a small regulatory fee on sells, passed through from government and exchange charges. It usually amounts to pennies on a typical order, and it is not unique to Schwab.

Options Fees

Options trades have no base commission, but Schwab charges $0.65 per contract. So an order for 5 contracts would cost about $3.25 in contract fees. This per-contract pricing is standard across most large brokers as of June 2026.

If you place that options order through a live broker instead of online, the broker-assisted service charge is added on top.

Mutual Fund Fees

This is where many people get tripped up. Schwab offers thousands of no-transaction-fee mutual funds you can buy and sell without a trade fee. But funds outside that program can carry a transaction fee of up to $49.95 per purchase as of June 2026.

Before buying any mutual fund, check whether it sits in the no-transaction-fee list. The same fund family sometimes has both fee and no-fee share classes, so the label matters. Mutual funds also carry their own internal expense ratios set by the fund company, which are separate from anything Schwab charges. If you are weighing funds against exchange-traded products, our guide on ETF vs mutual fund breaks down the cost differences.

Broker-Assisted and Phone Trades

Doing a trade yourself online is free. Asking a person to place it for you is not. A broker-assisted trade adds a $25 service charge as of June 2026. Trades placed through Schwab's automated phone system cost $5. For most routine orders, placing them yourself in the app or website avoids these charges entirely.

Margin Interest Rates

Margin means borrowing money from Schwab to buy investments. You pay interest on the borrowed balance. Schwab's margin rates are tiered, meaning larger balances get lower rates, and they move up and down with the broader interest rate environment.

Because these rates change whenever benchmark rates change, there is no single fixed number to quote. As of June 2026, you should check Schwab's current margin rate schedule directly. Margin adds risk. You can lose more than your initial investment, and Schwab can force you to sell holdings if your balance falls too far. It is not a tool for beginners.

Account Transfer (ACAT) Fees

If you ever move your account to another firm, the outgoing transfer fee matters. As of June 2026, Schwab charges $0 to transfer your account out, which is more generous than many competitors that charge $75 or more for a full transfer.

Schwab will also often reimburse the transfer-out fee charged by your old broker when you bring an account in, typically up to a set amount with qualifying deposits. Terms and conditions apply, so confirm the current offer details.

Other Fees to Know

A few smaller charges round out the picture. Wire transfers sent out of your account may carry a fee, while incoming wires are typically free. Returned checks or failed payments can trigger charges. Paper statement and confirmation fees may apply if you opt out of electronic delivery. None of these affect most everyday investors, but they are in the fine print.

How Schwab Compares

Schwab's $0 stock and ETF commissions, $0 account minimum, and $0 ACAT-out fee put it in line with or ahead of most large brokers as of June 2026. Newer app-first brokers also offer commission-free stock and ETF trades and no account minimums, and some appeal to beginners with simpler interfaces and fractional shares. Schwab counters with deep research tools, a wide fund lineup, and full-service support. If you are torn between the big custodians, our Schwab vs Fidelity vs Vanguard comparison weighs them on fees and features.

If a low-fee, app-first experience is what you are after, Robinhood offers commission-free stock and ETF trades, no account minimum, and fractional shares, which makes it an easy way to start small without the broker-assisted or paper-statement charges covered above.

Public is another commission-free, no-minimum broker worth comparing if you want a clean mobile interface and fractional shares alongside Schwab's deeper research tools. You can scan more options in our roundup of the best stock apps for getting started.

The right pick depends on what you need. If you want a large institution with branches and extensive research, Schwab is a strong option. If you are weighing it head-to-head against another major broker, our Fidelity vs Charles Schwab comparison is a good next read. If you want a stripped-down mobile experience, an app-first broker may suit you. Comparing fee schedules side by side, as you would on a platform like Firstcard, helps you see which costs actually apply to how you invest.

The bottom line is that Schwab is genuinely low-cost for ordinary trading, but options traders, certain mutual fund buyers, and margin users should read the fine print. Always verify the latest figures in Schwab's Pricing Guide, since fees and rates change.

Frequently Asked Questions

Does Charles Schwab charge a monthly account fee?

No. Schwab does not charge a monthly maintenance fee or an annual fee on standard brokerage accounts, and there is no minimum to open one as of June 2026. You can hold an account without paying just to keep it open. Fees apply only to specific activities like options contracts or broker-assisted trades.

Are all trades free at Schwab?

Not all of them. Online stock and ETF trades carry $0 commission, but options cost $0.65 per contract, broker-assisted trades add $25, and some mutual funds carry a transaction fee up to $49.95. The free pricing applies to the most common online trades, not every transaction.

How much does Schwab charge to transfer an account out?

As of June 2026, Schwab charges $0 for an outgoing full account transfer through the ACAT system. Many other brokers charge $75 or more for the same thing, so this is a point in Schwab's favor. Confirm the current figure before transferring, since policies can change.

What are Schwab's margin rates?

Schwab uses tiered margin rates that fall as your borrowed balance rises, and they move with broader interest rates. Because they change with the rate environment, there is no fixed number to quote here. Check Schwab's current margin rate schedule for the latest figures, and remember that margin carries added risk.