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Best Brokerage Firms in 2026
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Best Brokerage Companies
In 2026, Charles Schwab and Robinhood earned our designation as the 2 Best Brokerage Firms for
investors who prefer to manage their own portfolios. The comparison below covers their scores across
multiple categories, trading costs and other charges, current promotions, and links to complete 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
|
$0
|
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Robinhood
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$0
|
na
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5%
|
$0
|
$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
• Robinhood and Schwab each provide a wide selection of financial services.
• Each firm makes investment-advisory accounts available to customers.
• Robinhood, but not Schwab, offers direct cryptocurrency trading.
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Schwab follows a markedly different model from Robinhood for investing, active trading, and managing cash. Even so, its approach delivers a long list of valuable features, including:
Extensive investment selection: Schwab’s product menu reaches beyond Robinhood’s lineup by providing
access to bonds, mutual funds, annuities, and broader selections of preferred securities and closed-end funds. Its fixed-income marketplace covers commercial paper, U.S. Treasuries, TIPS, STRIPS, international bonds, corporate debt, and mortgage-backed securities. Online commissions are $0 for several investment categories. As examples, exchange-listed stocks and ETFs trade online for $0, while numerous secondary-market bond transactions are priced at $1 per bond, with applicable minimum and maximum charges.
International and OTC equities: Schwab gives investors access to both foreign-market and over-the-counter stocks. Through a Schwab Global Account, customers can trade online directly in 12 foreign markets and settle each transaction in the relevant local currency. Commission schedules depend on the market and the way the order is submitted, and foreign-exchange charges may also apply. Online orders for U.S. OTC equities carry a fee of $6.95 per trade.
Futures and foreign exchange: Schwab supplements its securities products with futures and forex access. The charge for futures is $2.25 per contract, per side, and options on futures use that same pricing. Forex orders placed online do not have a separate commission, but Schwab receives compensation through the bid-ask spread.
Numerous account registrations: Schwab supports an unusually broad variety of ownership formats and tax treatments. Along with individual and joint brokerage accounts, customers can open IRAs, including SEP and SIMPLE IRAs, custodial accounts, trusts, charitable accounts, 529 education plans, Coverdell accounts, estate accounts, and additional registrations.
Accounts for international investors: Schwab is among the U.S.-based brokerage firms
that accept qualifying customers who reside outside the United States. Its international account program serves residents of many countries worldwide. Applicants do not need a U.S. address, but they must submit acceptable identification, such as a current passport or another approved government document, as well as proof of residence and any additional requested records.
Professional-grade trading technology: Schwab equips domestic and international customers with powerful
digital trading tools. Its thinkorswim platform is available in web-browser, mobile, and desktop versions. The desktop program is the most sophisticated version, with a wide range of advanced tools. Backtesting, direct-access routing, and pairs trading are just a few examples.
Managed-investing choices: Customers who prefer professional portfolio oversight can use Schwab’s
wide-ranging investment-advisory services. Available choices span automated portfolios, relationships with human advisors, financial-planning assistance, and programs with different pricing structures and account minimums. Higher-net-worth clients can use Schwab Wealth Advisory for a dedicated advisor and guidance involving areas such as taxes, estates, and multigenerational legacy planning.
Physical offices: Schwab maintains an extensive nationwide network of locations where investors can receive in-person assistance. The firm operates more than 400 branches. Its footprint also extends beyond the continental United States, with offices that include Hong Kong and London.
Strong research and investor education: Schwab produces a substantial library of market research and educational content for both brokerage and advisory customers. Investors can reach these materials through the website and Schwab’s trading applications. A considerable number of articles and videos are publicly available, while the full resource collection requires an account login. Onward, the firm’s quarterly investing magazine, regularly covers market developments and financial-planning topics. Schwab Network adds live financial shows accessible on Schwab.com, thinkorswim, mobile devices, and compatible television platforms.
Integrated banking: Schwab’s business extends beyond brokerage and advisory services through its FDIC-insured banking subsidiary, Schwab Bank. Customers can open checking and savings accounts and connect them with eligible investment accounts, which simplifies transfers inside Schwab’s digital platforms. The checking account comes with a debit card and complimentary standard checks. Its debit card includes unlimited rebates of eligible ATM fees assessed on cash withdrawals around the world.
Insurance access: Schwab helps customers evaluate and obtain several forms of insurance coverage. The available categories include term life, permanent life, disability, and long-term-care insurance. Schwab makes these policies accessible through its arrangement with Crump Life Insurance Services.
Review
Read Charles Schwab Review
Website
Visit Schwab Website
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Robinhood combines its self-directed brokerage accounts with a practical assortment of trading features, account tools, and customer benefits. Highlights include:
Commission-free securities orders: Robinhood allows customers to trade stocks, options, and ETFs that
are listed on the major U.S. exchanges. These electronic transactions carry no brokerage commissions, and stock and ETF options have
no per-contract fees.
Capable options features: Robinhood’s options-trading service supplies several
ready-made strategy combinations. Its platforms generate profit-and-loss diagrams that visually identify breakeven levels and the highest possible profit and loss for a sample position. The software
also displays the same calculations as numerical values.
Cryptocurrency trading: Robinhood’s crypto service provides access to 71 digital currencies. Its selection includes major cryptocurrencies such as bitcoin as well as alternatives such as Tezos. Pricing depends on how and where an order is routed. Market-maker routing can incorporate trading costs into the quoted execution price, while Robinhood’s exchange-routing service can charge volume-based trading fees.
Approachable trading platforms: Robinhood builds its software for straightforward use by new investors without excluding more experienced traders. Customers can place trades and manage their accounts through the mobile application or website. Depending on the platform, order tickets can support market, limit, stop, trailing-stop, and recurring transactions.
Trading beyond regular hours: Robinhood supports orders during the standard market session as well as
eligible extended-hours periods. Its pre-market session starts at 7:00 a.m. ET, while after-hours trading opens
when the regular market closes and remains available through 8:00 p.m. ET. Robinhood additionally offers
24/5 trading in a list of eligible stocks and ETFs (1,134 securities in total). Cryptocurrencies generally trade around the clock.
Fractional investing: Robinhood lets customers enter qualifying stock and cryptocurrency orders by dollar value or by a chosen number of shares or coins. The relevant order ticket includes a control for moving between amount-based and quantity-based instructions.
IPO participation: Beyond buying and selling investments after they reach the public market, qualifying Robinhood clients can request allocations in certain initial public offerings before regular trading starts. Robinhood’s IPO Access area on the website and mobile app lists available deals and lets investors submit and monitor requests.
Deposit accounts: Robinhood is phasing out its earlier Spending account as Robinhood Banking takes its place. Qualifying Robinhood Gold members can open checking and savings accounts issued by Coastal Community Bank, Member FDIC. The service includes routing and account numbers, a debit card, check-writing capabilities, direct deposit, bill payments, and withdrawals at participating ATMs.
Debit-card capabilities: The Robinhood Banking debit card can be used for qualifying retail transactions and cash withdrawals from ATMs. Customers can also use the banking service for direct deposits, electronic payments, bill payments, and writing checks. Fees and account features vary with eligibility, account usage, and the governing Robinhood Banking terms.
Customer incentives: Robinhood provides rewards for qualified referrals and selected activities completed through its platform. Its referral program, for instance, grants fractional stock rewards after an eligible friend uses the customer’s unique link, opens an account, and completes the required funding step. A customer may receive as much as $5,000 in stock rewards per year.
IRA accounts: Alongside standard taxable investing accounts, Robinhood provides Individual Retirement
Accounts in Roth and Traditional formats. There are no annual account or termination fees, and Robinhood
offers a matching contribution. For eligible annual contributions, the match is 1% without Gold and 3% for eligible Gold subscribers.
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 hold the two highest brokerage ratings in our 2026 evaluation. Each firm has
substantial advantages, but those strengths are usually found in different parts of the brokerage experience. Selecting the
most suitable broker is a meaningful decision when building the type of investing experience you want.
The comparison presented above should make it considerably simpler to determine which company fits your needs better.
Updated on 8/3/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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