*Liquidity refers to the ability to quickly buy or sell an asset without affecting the asset’s price in a significant manner, not the ability to receive cash quickly.

**Foreign market hours vary. Broker-assisted order placement hours are different from order execution.

***Most ADRs listed on U.S. stock exchanges are marginable. ADRs that are traded through the U.S. OTC market are not marginable.

1. Standard online US$0 commission does not apply to over-the-counter (OTC) equities, transaction-fee mutual funds, futures, fixed-income investments, or trades placed directly on a foreign exchange or in the Canadian market. Options trades will be subject to the standard US$0.65 per-contract fee. Service charges apply for trades placed through a broker (US$25) or by automated phone (US$5). Exchange process, ADR, and Stock Borrow fees still apply. Please contact Schwab for details. See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules.
2. Transactions in foreign ordinary shares incur additional custody, clearing, and settlement expenses. A foreign transaction fee is added to trades placed on the US over-the-counter market through the online or automated phone channels. The commission and foreign transaction fee will be combined and will appear as one line item, labeled "Commission," on the trade confirmation.
3. Canadian stocks settlement dates are subject to Canadian market holidays which may differ from U.S. holidays.
4. Charles Schwab Singapore charges GST on all applicable commissions and fees serviced by Charles Schwab Singapore.

Online listed ETF commissions³

Online listed equity commissions¹