Skip to content

Robinhood vs. Schwab – A Detailed Comparison

Discover our detailed comparison of Robinhood and Schwab to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for Robinhood and Schwab across the internet and compiled it all in this article. 

Overview of Robinhood

Robinhood is a popular commission-free brokerage platform that was founded in 2013. It gained significant attention for its user-friendly mobile app and the democratization of investing by eliminating traditional trading fees. Robinhood has attracted a large user base, primarily consisting of millennials and new investors seeking easy access to financial markets.

Overview of Schwab

Charles Schwab is a well-established brokerage firm known for its wide range of investment products and services. Schwab also provides a user-friendly online platform and mobile app, along with educational resources to help clients make informed investment decisions. Additionally, they offer banking services, retirement accounts, and access to financial advisors.

Key Characteristics of Robinhood and Schwab

FeatureRobinhoodSchwab
Platform TypeBrokerage PlatformBrokerage Platform
Tradeable AssetsStocks, ETFs, Options, CryptoStocks, ETFs, Mutual Funds, Options, Index Options, Futures, Futures Options, Bonds
Charting FeaturesBasic charting on mobile and web appthinkorswim platform
DataReal-time data with funded accountReal-time data with funded account
Premium Pricing$5/mo for GoldNo premium features

Who is Robinhood Best For?

Robinhood is best for beginners who want easy access to stocks, options, and crypto. The mobile app has an amazingly simple design, allowing anybody to take control of their financial future. Robinhood is a great choice for all investors except active traders requiring more advanced charting and order placement tools.

Who is Schwab Best For?

Schwab is a great brokerage for long-term investors and active traders alike. With its recent acquisition of TD Ameritrade and the thinkorswim platform, Schwab is suitable for anybody looking to trade and invest in the stock market.

Trading Features and Tools

FeatureRobinhoodSchwab
DRIPYes, no feesYes, no fees
Margin TradingYesYes
InsuranceSIPC InsuredSIPC/FDIC Insured
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeRobinhoodSchwab
Equity CommissionFreeFree
Option CommissionFree$0.65 per contract
Futures CommissionNo futures$2.25 per contract
Futures Options CommissionNo futures options$2.25 per contract
Option Exercise FeeNoneNone

Robinhood vs Schwab – Bottom Line

Choosing between Robinhood and Schwab depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

  • All of TradingView’s key features are free to use
  • TradingView provides real-time data for free whenever possible
  • You are not tied to a single broker and can use whichever you want while charting on TradingView
  • You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
  • TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

Related Trading Platform Comparisons


Tradovate vs Vanguard

ETrade vs tastytrade

Interactive Brokers vs Ninjatrader

TC2000 vs WeBull

Interactive Brokers vs tastytrade

Recent Posts

tradingview logo

Join over 50 million traders who trust TradingView!

Technical Analysis
tradingview logo

Join over 50 million traders who trust TradingView!

×

Get Our Stocks & Options 101 eBook for FREE!

Learn How To:
– Craft a stock portfolio
– Leverage options trading
– Build financial freedom