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Best Brokerage Firms in 2026
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Best Brokerage Companies
For 2026, we selected Charles Schwab and Robinhood as the 2 Best Brokerage Firms for
self-directed (do-it-yourself) investors. Below you can review their ratings across several
categories, along with commissions, fees, promotions, and links to detailed reviews.
Pricing
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Margin
Rate |
Maintenance
Fee |
Annual IRA
Fee |
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Charles Schwab
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$0
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$49.95 ($0 to sell)
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11.825%
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$0
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$0
|
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Robinhood
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$0
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na
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5%
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$0
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$0
|
Services
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Charles Schwab
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Robinhood
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Promotions
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Robinhood:
3% deposit match and FREE stock worth up to $200 at Robinhood.
Key Takeaways
• Both Robinhood and Schwab provide many useful financial services that investors should know about.
• Investment-advisory accounts are offered by Schwab and Robinhood.
• Cryptocurrency trading is available at Robinhood, while Schwab does not currently offer it directly.
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Schwab approaches investing and trading very differently from Robinhood (and its overall approach to money management is different as well). Even so, the firm delivers a wide range of benefits, including:
Large selection of securities: Besides the investments available at Robinhood, Schwab also provides
trading in bonds, preferred securities, mutual funds, annuities, and closed-end funds. The fixed-income lineup is extensive and includes instruments such as commercial paper, Treasuries, TIPS and STRIPS, foreign bonds, corporate debt, and mortgage-backed securities. Many of these asset classes trade with zero commissions, and those that do have fees tend to be fairly low ($1 per bond, for example).
Global and OTC stocks: Schwab’s equity offering includes both international stocks and over-the-counter securities. The global trading service allows customers to place trades on many exchanges worldwide, including markets such as the Toronto Stock Exchange and the Hong Kong Exchange. Orders can be placed either in U.S. dollars or in the local currency. Choosing the local currency requires a forex conversion. In either case, trades are not commission-free, although fees are usually modest (often below US$15). OTC trades cost $6.95 per transaction.
Futures and forex: Schwab goes beyond traditional securities and also offers futures and forex trading. Commissions remain competitive in these areas as well. Futures trades, for example, cost $2.25 per contract, per side, and the same rate applies to futures options. Forex trades do not carry direct commissions, although Schwab earns compensation through the bid-ask spread.
Lots of account types: Schwab has done a great job offering clients a wide variety of account structures. In addition to individual and joint accounts, Schwab provides IRAs (including SEP and SIMPLE plans), custodial accounts, trusts, charitable accounts, 529 plans, Coverdell accounts, estate accounts, and more.
International accounts: Schwab is among the relatively small number of U.S.-based investment firms
that allow non-U.S. residents to open brokerage accounts. This international-account service is available to residents of many countries worldwide. While a U.S. address is not required, applicants must provide a digital copy of their passport.
High-powered software: Schwab provides advanced digital trading tools for both domestic and
international clients. Its thinkorswim platform is available in browser-based, mobile, and desktop formats. The desktop platform is the most powerful and includes many advanced tools. Examples include backtesting, direct-access routing, and pairs trading.
Advisory service: Investors who prefer professional management can use Schwab’s
extensive investment-advisory service. The firm offers both robo-advisor and human-advisor solutions with several fee structures and minimum balances that remain competitive in the industry. Financial planning services are available through traditional packages. High-net-worth clients can enroll in Schwab’s Wealth Advisory program, which includes a dedicated advisor and services commonly needed by affluent investors, such as tax and estate planning.
Branch locations: Schwab serves investors of all sizes through a large network of physical branches across the United States. At the most recent count, there were more than 300 locations. The firm also operates a few offices outside the U.S., including in Hong Kong and London.
Great education and research tools: Schwab offers a large library of educational materials for both advisory and brokerage customers. These resources appear on its website and other channels. Many articles and videos can be viewed without logging in, although full access requires a Schwab.com account. The quarterly publication OnInvesting often contains useful market insights. Another notable resource is Schwab Network, a live video broadcast available through the firm’s mobile apps (Schwab currently has two) and the thinkorswim desktop platform.
Schwab Bank: Schwab is not only an investment company; it also operates an FDIC-insured banking division called Schwab Bank. This unit offers checking and savings accounts that integrate with brokerage accounts, making transfers between bank and investment accounts simple using Schwab’s software. Checking accounts include debit cards and checkbooks at no cost. The debit card can be used worldwide with ATM fees reimbursed.
Insurance: Schwab’s services extend beyond investing and banking. The firm also offers several insurance products that clients can use for different financial needs. Available policies include term and permanent life insurance, disability coverage, and long-term care insurance. These policies are offered through a partnership with Crump Life Insurance Services.
Review
Read Charles Schwab Review
Website
Visit Schwab Website
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In self-directed brokerage accounts, Robinhood offers several appealing tools, features, and benefits. Some of them include:
Low-cost securities trading: Robinhood clients can trade stocks, options, and ETFs listed on
the major U.S. exchanges. There are no commissions on these trades, and options trades
do not include per-contract fees either.
Good option tools: Through its options service, Robinhood has enhanced its trading software with several
built-in strategies. Both the website and the mobile app now display profit-loss diagrams that visually
show breakeven points along with maximum gains and losses for hypothetical trades. These values are
also presented in numerical form.
Cryptocurrency trading: Robinhood also provides a crypto trading service that gives access to 58 digital currencies. These include widely known coins like bitcoin as well as less common assets such as Tezos. Similar to securities trading, commissions are not charged, although bid-ask spreads still apply.
User-friendly software: Robinhood’s platform is designed so that both seasoned traders and beginners
can use it easily. Trading and account management are handled through the company’s mobile app and website.
Both interfaces offer the same tools, including an order ticket with stop, trailing, and recurring order types.
Extended hours: Robinhood’s trading tools work during both the regular session and extended hours.
Pre-market trading starts at 7:00 am EST, while after-hours trading begins at the market close and continues
until 8:00 pm. In addition to these sessions, Robinhood offers
24-hour trading in a list of stocks and ETFs (918 securities in total). Cryptocurrencies, of course, trade 24/7.
Fractional-share trading: Another convenient feature is the ability to place orders in either
dollar amounts or share quantities. This functionality is built directly into the order ticket for
both stocks and cryptocurrencies. Switching between dollars and shares is simple using the ‘Buy In’
dropdown menu on the order form.
Initial Public Offerings: In addition to regular securities trading, Robinhood users can also
participate in new stock offerings before they begin trading on secondary exchanges. Both the website
and mobile app include an IPO hub that allows investors to sign up for upcoming deals (simply search
for ‘IPO Access’).
Discrete spending account: Alongside its investing platform, Robinhood also provides a separate
spending account for everyday cash management. It includes FDIC insurance through Chase Bank. The
account has its own routing and account numbers that can be used for a wide variety of transactions.
Additional features include digital checks and a debit card.
Many perks with the debit card: The Robinhood debit card includes several benefits. Customers can
earn cash back from participating brands, receive early paychecks, and split direct deposits. Round-ups
can also be used to purchase fractional shares or cryptocurrencies. No overdraft fees are another bonus.
Rewards: Robinhood frequently runs promotional programs that reward customers for referrals or
completing tasks on the platform. For instance, the brokerage sometimes offers free fractional shares
when users invite friends through a referral link. As much as $1,500 can be earned annually.
Retirement accounts: In addition to taxable brokerage accounts, Robinhood also provides Individual
Retirement Accounts in both Roth and Traditional formats. These accounts do not have annual or closing
fees. Robinhood is also notable for offering an IRA match program, currently
1% for standard users and 3% for Gold members.
Review
Read Robinhood Review
Website
3% deposit match and FREE stock worth up to $200 at Robinhood.
Visit Robinhood Website
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Charles Schwab and Robinhood are two brokerage firms in 2026 that we strongly recommend. Each
company has significant advantages, although their strengths tend to appear in different areas.
Choosing the right brokerage firm is extremely important for creating the investing experience
you want. With the information in this article, selecting the right broker should now be much
easier.
Updated on 3/4/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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