Fees & Commissions
All amounts are in US dollars.
For full details of Fees and Commissions, please see the Charles Schwab Pricing Guide for Individual Investors
Minimum to open an Individual/Joint account: $25,000
Stock Commissions Per Executed Trade (includes Exchange Traded Funds)
|$8.95||$8.95 + $25.00 service charge|
1. Restrictions apply: The $8.95 commission does not apply to foreign stock transactions, large block transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. A minimum deposit of $10,000 is required to open Schwab One International account. Waivers may apply. See the Charles Schwab Pricing Guide for full fee and commission schedules. Employee equity compensation transactions are subject to separate commission schedules.
Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV).
Charles Schwab & Co., Inc. receives remuneration from third-party ETF companies participating in Schwab ETF OneSource™ for record keeping, shareholder services and other administrative services, including program development and maintenance.
Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Charles Schwab & Co., Inc.
Offshore Mutual Fund2 Transaction Fees Per Executed Trade
Some funds may also charge sales and/or redemption fees. Please read the offering documents for details.
|Fund Type||Broker-Assisted Trades|
|Offshore Mutual Fund||$0|
|Short-term Redemption Fee3||$49.95|
2. For offshore funds (for non-U.S. persons), call Schwab International Services at 877-853-1802 (in the U.S.) or 415-667-6787 (outside the U.S.) for details.
3. Schwab's short-term redemption fee of $49.95 will be charged on redemption of certain funds with no transaction fees and held for 90 days or less. Schwab reserves the right to exempt certain funds from this fee which may charge a separate redemption fee, and funds that accommodate short-term trading. Funds are subject to management fees and expenses.
Charles Schwab & Co., Inc. receives remuneration from fund companies that offers load-waived funds.
Option4 Commissions Per Executed Trade
|Online Trades5||Broker-Assisted Trades|
|$8.95 + $0.75 per contract||Online pricing + $25.00 service charge|
4. Please see the Charles Schwab Pricing Guide for detailed information on equity and options commissions. Multiple-leg options strategies will involve multiple commissions. Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options before considering any options transaction.
5. Two-legged online option orders such as spreads, straddles, combos, and rollouts are charged only one $8.95 base commission, plus per-contract fees for the total number of option contracts. For Broker-Assisted Options Commissions, add $25 to the Online Options Commission. Complex option orders involving both an equity and an option leg, including Buy/Writes or Write/Unwinds, are charged per-contract fees for the option leg, plus commissions for the equity leg subject to the client's current commission schedule. There is no base commission for the option leg.
Exchange Process Fee—This is a fee Schwab charges to offset fees imposed on us by national securities and self-regulatory organizations or by U.S. option exchanges.
The Securities and Exchange Commission (SEC) assesses transaction fees on national securities exchanges and self-regulatory organizations based on the aggregate dollar amount of sales of certain securities. The SEC recalculates the amount of this fee periodically—at least once per year but sometimes more often. National securities exchanges and self-regulatory organizations offset the transaction fees by charging their member broker-dealers such as Schwab, and we, in turn, offset this fee by charging you an Exchange Process Fee for covered sell transactions.
U.S. option exchanges charge Schwab and other broker-dealers per-contract fees for purchases and sales of exchange-listed options. The exchanges may charge these fees even on transactions executed on other exchanges, which can result in multiple fees being imposed on Schwab for a single transaction. Schwab offsets these fees by charging you a single Exchange Process Fee for each covered transaction. Any Exchange Process Fee that appears on your trade confirmation for a sale of an exchange-listed option will combine the offsets for the fees charged both by the U.S. option exchanges and by the national securities and self-regulatory organizations.
The Exchange Process Fee will rise or fall periodically depending upon the rates set by the SEC or by the U.S. option exchanges, as applicable.
Several U.S. option exchanges currently assess a fee upon Schwab for covered transactions. Of them, the Chicago Board Options Exchange (CBOE) and the International Securities Exchange (ISE) fees, as shown in the table below, will be included in the Exchange Process Fee.
|Schedule of Option Exchanges Imposing the Fee Applicable to the Exchange Process Fee|
|Exchange||Fees per Contract (Buys and Sells)|
|TOTAL||$0.0228 per Contract|
Fixed Income Pricing Per Executed Trade
Schwab reserves the right to act as principal on any fixed income transaction, public offering or securities transaction. When Schwab acts as agent, a commission will be charged on the transaction. When Schwab acts as principal, the markup is included in the bond price.
|New issues, including CDs.||Selling concession is included in the offering price.|
|Treasuries, including Auction and Secondary:
||$0||Online pricing + $25 per trade service charge
|Other Secondary Trades: CDs, Corporate Bonds, Municipal Bonds, Government Agencies, Zero-coupon Treasuries, including STRIPS and Mortgage-Backed Securities.||$1 per bond
$10 minimum / $250 maximum
|Online pricing + $25 per trade service charge|
|Commercial Paper & Foreign Bonds||These are specialty products—please contact us for information.|
|Unit Investment Trusts||These are specialty products—please contact us for information.|
|Preferred Stocks and REITs||$8.95 per trade online6
Additional charge of $25 for broker-assisted trades.
Note: Large block transactions (orders of more than 250 bonds) may be available for special handling and/or pricing—please call us for information.
6. Restrictions apply: The $8.95 flat commission does not apply to foreign stock transactions, large block transactions requiring special handling, employer negotiated commission schedules applicable to equity compensation transactions, or restricted stock transactions. Foreign ordinary shares that trade online in the U.S. over-the-counter (OTC) market and do not settle in the U.S. will have a $50 foreign transaction fee added to the cost of the transaction. All broker-assisted trades are subject to service charges. A minimum deposit of $10,000 is required to open Schwab One International account. Waivers may apply. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.