Supported stock broker
Charles Schwab
A full-service US broker with commission-free online stock and ETF trades.
Overview
About Charles Schwab
Charles Schwab is one of the largest brokerage firms in the United States, offering commission-free online trading of US-listed stocks and ETFs alongside options, futures, bonds and mutual funds. Following its acquisition of TD Ameritrade, Schwab also runs the thinkorswim trading platform.
AutoTrader connects to Schwab through the Schwab Trader API using your OAuth access token, account number and app key. Your strategies can then trade US stocks and ETFs, with AutoTrader's stop-loss, take-profit and position sizing applied to every order.
Supported markets
What you can trade on Charles Schwab
The asset classes Charles Schwab offers, and popular symbols you can automate with AutoTrader.
Asset classes offered
- US stocks
- ETFs
- Options
- Futures
- Bonds
- Mutual funds
Popular stocks & ETFs
- AAPL
- MSFT
- NVDA
- AMZN
- SPY
- VOO
- QQQ
- SCHD
Symbols shown are examples. Exact availability depends on your country, account type and the broker's current listings.
Fees & accounts
Trading Charles Schwab: costs and where it's available
Fees and account types
Schwab charges no commission on online trades of US-listed stocks and ETFs, which suits strategies that rebalance or trade frequently in equities. Options carry a per-contract fee, and broker-assisted or phone trades cost more, but neither applies to AutoTrader's stock and ETF market orders. Regulatory transaction fees on sales still apply, as they do at every US broker. Check Schwab's pricing page for current rates.
A standard Schwab brokerage account has no account minimum, and the Trader API works with individual brokerage accounts linked to your developer app. Retirement accounts such as IRAs can also be linked, although trading rules for those account types still apply.
Availability and regulation
Charles Schwab & Co. is a US broker-dealer registered with the SEC, a member of FINRA and SIPC, and part of the publicly traded Charles Schwab Corporation. The Trader API and standard brokerage accounts are aimed primarily at US residents. Schwab does offer accounts to some non-US residents through its international services, but eligibility depends on country, and non-US clients should confirm with Schwab whether API access is available for their account type before planning an automated setup.
For automated trading
Automating Charles Schwab: strengths and limitations
Strengths
- Commission-free online stock and ETF trades mean frequent rebalancing or signal-driven entries do not accumulate per-order commissions.
- The Trader API is an official, documented interface from a large US broker, so automated orders go through the same infrastructure as orders placed in thinkorswim or on schwab.com.
- Schwab's broad catalog of US-listed stocks and ETFs makes it practical to automate diversified portfolios, sector rotation or index-tracking strategies.
- Keeping an automated strategy inside a long-term Schwab account lets you run it alongside existing holdings without moving assets to a separate broker.
Limitations
- OAuth tokens expire and refresh tokens must be renewed through a manual login on a regular cycle, so a Schwab connection needs periodic attention to keep a 24/7 strategy running.
- paperMoney lives inside thinkorswim rather than behind the Trader API, so it is useful for rehearsing a strategy by hand but is not a drop-in simulated endpoint for automated orders.
- US stock orders only fill during market hours, so signals generated overnight or on weekends are executed at or after the next session's open, which can differ from the signal price.
Get started
How to connect Charles Schwab to AutoTrader
- 01
Sign in to the Schwab Developer Portal with a login separate from your brokerage credentials, and register as an individual trader so you can create apps for your own accounts.
- 02
Create a new app, select the Accounts and Trading Production API product, and enter a callback URL. New apps are reviewed by Schwab and can take a few business days to reach Ready For Use status.
- 03
Once the app is approved, copy its App Key. AutoTrader uses it as the passphrase field on the Exchanges page.
- 04
Complete Schwab's OAuth authorization, logging in with your Schwab brokerage credentials and choosing which linked accounts the app may access, to receive an access token.
- 05
On the AutoTrader Exchanges page, paste the access token as the API key and your Schwab account number as the secret, then confirm the connection shows your balance.
- 06
Plan to re-authorize regularly: Schwab access tokens are short-lived and refresh tokens expire after a number of days, so a connection that goes quiet will need a fresh OAuth login.
Strategy ideas
Strategies that suit Charles Schwab
Trend Following Strategy
Liquid US large caps and index ETFs trend over weeks and months, and commission-free trades keep the cost of frequent trend adjustments low.
Read the strategy guide →Swing Trading Strategy
Multi-day holds fit Schwab's regular-hours equity market and are less sensitive to the gap between an overnight signal and the next open.
Read the strategy guide →Portfolio Rebalancing Strategy
Schwab's broad ETF lineup and zero online commissions make periodic rebalancing of a multi-ETF portfolio inexpensive to automate.
Read the strategy guide →FAQ
Charles Schwab automation: frequently asked questions
Does Schwab allow automated trading through its API?
Yes. Schwab publishes the Trader API on its developer portal specifically so individual clients and apps can place orders programmatically in their own accounts. You register an app, wait for Schwab to approve it, and authorize it with OAuth. AutoTrader then uses that authorization to send stock and ETF market orders on your behalf, subject to Schwab's usual account rules and API throttling.
Why does my Schwab connection need to be renewed?
Schwab's OAuth design uses short-lived access tokens and a refresh token that also expires after a limited number of days. When the refresh token lapses, the app can no longer trade until you log in to Schwab again and re-authorize it. If a strategy stops placing orders, check the connection on the AutoTrader Exchanges page and repeat the OAuth step.
Did the TD Ameritrade API move to Schwab?
Yes. After Schwab completed its acquisition of TD Ameritrade, the old TD Ameritrade developer API was retired and replaced by the Schwab Trader API on Schwab's own developer portal. Existing TD Ameritrade apps and keys do not carry over, so you need to register a new app with Schwab and obtain a new App Key before connecting AutoTrader.
What does it cost to run an AutoTrader strategy on Schwab?
On the Schwab side, online trades of US-listed stocks and ETFs are commission-free, and there is no account minimum for a standard brokerage account. Small regulatory fees apply to sell orders, and ETFs carry their own expense ratios. Always check Schwab's current pricing page, since fee schedules can change, and factor in the spread you pay on each market order.
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