Charles Schwab

Charles Schwab founded Charles Schwab Corporation in 1971 and pioneered discount brokerage by charging substantially less than full-service firms. After the SEC deregulated commissions in 1975, Schwab built a low-cost brokerage that made stock investing accessible to middle-class Americans. Schwab weathered multiple financial crises and adapted to the online trading revolution of the 1990s. In 2019, Schwab announced zero-commission trading, triggering a competitive race that eliminated commissions across the industry. Schwab has grown to manage over $8 trillion in client assets. The firm's 2020 acquisition of TD Ameritrade for $26 billion created one of the largest brokerage platforms in the world, significantly expanding Schwab's thinkorswim trading platform and strengthening its futures and options capabilities for active traders.