The company’s second quarter was mixed, with a beat on revenue but a wide miss on profitability.

Tesla Financials at a Glance

Market Cap

$1.18TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$103.62B

Net Income (TTM)

$3.82B

EPS (TTM)

$1.08

P/E Ratio

290.84

Dividend

$0.00

Beta (Volatility)

2.04 (High)

Price

$308.56

Volume

1,988,279

Open

$313.36

Previous Close

$308.56

Daily Range

$304.32 – $317.00

52-Week Range

$297.82 – $498.83

Estimated Earnings Date

Oct 28, 2026

Key Points

• Tesla leads EV market with $1.5 trillion cap, pioneering industry standards.
• BYD dominates global EV production, selling over 2.25 million cars in 2025.
• Invest in diversified EV stocks or ETFs to minimize investment risk.
• Motley Fool Issues Total Conviction Buy Alert

The world is still reeling from the financial crisis. Tech stocks are considered “too risky.”

But inside The Motley Fool, a rare buy signal just flashed for a little-known chipmaker named Nvidia.

That was the day we issued a re-recommendation for Nvidia — telling our members to “Double Down” on the stock.

If you had ignored it, you’d have missed out on a life-changing 53,614% return.

$5,000 invested in Nvidia at that moment would be worth $2,685,702 today.

But here’s the really interesting part: This signal has a long history of spotting massive winners before the rest of the world catches on. 

• Netflix: Signal flashed on 11/30/04… up 37,699%
• Amazon: Signal flashed on 12/16/10… up 2,514%
• Tesla: Signal flashed on 11/16/12… up 14,647%
• Shopify: Signal flashed on 7/15/16… up 3,419%

This signal has been so lucrative that many of us around the office have started calling it the Total Conviction Buy Alert.

It’s the moment our team identifies a winner that is poised to become a market legend.

And today, July 28, 2026… this rare buy signal is now flashing once again… and this time for a company that is just 1/100th the size of Nvidia.

This stock has been recommended 9 separate times by different Motley Fool services since 2023… and the first recommendation is already up 10x in just 2 years.

And Motley Fool CEO Tom Gardner is convinced that the run is just beginning.

In fact, he recently told a group of Motley Fool insiders that this company has his “highest conviction.”

Why? Because this under-the-radar California company is at the center of the booming space economy — which The World Economic Forum and McKinsey project will nearly triple to $1.8 trillion by 2035.

To put that in perspective, that’s roughly the size of the entire global semiconductor industry! The same industry that minted millionaires out of early Nvidia investors.

“Space is existential… from the future of the planet to the future of commerce,” says Adam Jonas from Morgan Stanley.

As you can see, it’s no coincidence that Elon Musk merged SpaceX with his AI company in a deal valued at $1.25 trillion. Or that Jeff Bezos has poured billions into Blue Origin.

The world’s smartest entrepreneurs aren’t debating whether space will be big. They’re racing to own it.

And yet just like AI a decade ago, most investors are still ignoring this opportunity — opting out of one of the next decade’s most explosive growth curves.

Which brings me back to the company that triggered our Total Conviction buy signal…

Most companies in this industry do one thing — they build satellites OR they launch them. This company does it all. Design, manufacture, launch, and monitoring. They’re positioning themselves to be the one-stop shop of the space economy.

That’s an incredibly valuable place to be. And we believe they’re just getting started.

Tom Gardner recently interviewed this company’s CEO and was so impressed that he immediately recommended members buy more shares.

And this CEO is putting his money where his mouth is.

He’s betting his personal fortune — over $2.6 billion — on his company.

And here’s the real kicker…

Despite this company’s jaw-dropping success over the past few years, most investors have still never even heard its name.

While everyone on CNBC and in The Wall Street Journal is busy talking about mega-cap tech stocks… our team has been doing what the world’s greatest investors do: looking for the NEXT stock that could deliver returns of +1,000%, +2,000%, or even +5,000%.

And we believe this company could be it.

Now, in case you’re not familiar with who’s making this call, here’s what you should know.

The Motley Fool was founded 33 years ago by brothers Tom and David Gardner. What started as a small investment newsletter with 300 subscribers has grown into one of the most trusted names in investing, serving millions of investors around the globe.

Our flagship service, Motley Fool Stock Advisor, has been delivering new stock recommendations every month for over two decades.

If you take every single one of those picks — the winners, the losers, and everything in between — and average the returns together, here’s what you find:

The AVERAGE Stock Advisor pick is up 896% vs. just 206% for the S&P 500.

That’s the average.

It’s no wonder Time Magazine says “Even billionaires get ideas from The Motley Fool.”

So when Tom Gardner says a stock has his “highest conviction” and the Total Conviction signal is flashing, it’s worth paying attention.

Now, I want to be upfront about something.

As much as we believe in this company, we would never tell you to put all your eggs in one basket. That’s not how great investors build wealth.

That’s why, when you join Stock Advisor today, you won’t just get the full details on this “Total Conviction” stock.

You’ll also get:

• Two additional stocks that have recently triggered the Total Conviction buy signal — as part of a brand-new comprehensive research report: ‘Tom Gardner’s Double Down Stocks For 2026’ 
• Two timely stock picks every single month — fresh recommendations from the Stock Advisor team delivered directly to you, so you always know where the team sees the best opportunities.
• Top 10 Best Buys Now — a regularly updated ranked list of the stocks the team believes are the best buys in the market today.

This is a complete investing system built to help investors find the market’s biggest potential winners — not just one stock recommendation.

And to be clear: we’re sharing the details of this Total Conviction stock — and the two additional Double Down picks — ONLY with members of Motley Fool Stock Advisor.

But I want to make this as easy a decision as possible.

Because I’m completely convinced you’ll be impressed by the exclusive research behind these stocks, your Stock Advisor membership is backed by a 30-day, 100% membership-fee-back guarantee.

That means you can join today, get the full details and ticker symbols of all three Double Down stocks, explore the Top 10 Best Buys Now, and review this month’s brand-new recommendations — and if you aren’t completely satisfied, you get every penny back of your membership fee back within 30 days. No questions asked.

Think about how many investing trends you’ve watched take off — wishing you’d gotten in earlier.

When the Total Conviction signal flashed for Nvidia in 2009, most people ignored it.

But those who took action turned $5,000 into $2,685,702.

This signal is flashing again. Right now. For a company 1/100th the size of Nvidia. 5 Years From Now, You’ll Probably Wish You Grabbed These Stocks pick great stocks. Our over 20-year track record speaks for itself; Stock Advisor has quadrupled the S&P 500.

Take the guesswork out of investing. Get the full top 10 list and its potential monster returns inside our flagship investing service – Stock Advisor. Electric cars — commonly known as electric vehicles or EVs — are automobiles that rely on electricity stored in batteries for power rather than gasoline in internal combustion engines. Electric car stocks comprise companies primarily focused on manufacturing electric cars. 10 Best Electric Vehicle (EV) Battery Stocks for 2026 and How to Invest increasingly shifting toward electric vehicle batteries instead of internal combustion engines. There’s a clear demand for electric vehicles at the right price point. Investors who want to get ahead of that demand can do so by looking at the companies producing EV batteries, the most important and costly components of EVs.

If electric vehicle production significantly increases over the next decade, the demand for EV batteries will skyrocket similarly.

Key Points

• Invest in EV battery producers to benefit from rising electric vehicle demand.
• Focus on well-positioned companies like Tesla and BYD, leaders in EV and battery tech.
• Consider market trends and government incentives affecting the EV battery sector.

10 top electric vehicle battery stocks for 2026

Electric vehicle (EV) battery stocks range from fully integrated auto manufacturers developing their own battery designs and technologies to specialists focusing on solid-state batteries. It also includes companies providing key materials or ancillary equipment for development, testing, and safety. The 10 below are top picks among the group. To keep up with global demand, Tesla continues to build additional gigafactories — large manufacturing facilities used to produce vehicles, batteries, and key components at scale.

Tesla also develops clean-energy products, including solar energy systems (SolarCity), battery storage systems (Powerwall), and EV charging infrastructure (Superchargers) that support long-distance EV travel. And it invests heavily in advanced technology like autopilot features, self-driving systems, robotics, and artificial intelligence (AI).

Taken together, Tesla isn’t just a car company — it’s a technology and energy business working across transportation, software, and renewable power. That broader focus is one reason many investors view Tesla as more than a traditional automaker.

If you’re considering becoming a Tesla shareholder, there are a few things to consider before you invest.

How to buy Tesla stock

Here’s a step-by-step guide to buying Tesla shares.

1. Open your brokerage account: Log in to your brokerage account where you handle your investments. Best Online Brokers and Trading Platforms for July 2026 Best Online Brokers and Trading Platforms for July 2026
2. Whether you just got a tax refund, finally have a little extra cash to put to work, or have simply decided that this is the year you start investing — you’re in the right place.
3. At Motley Fool Money, we’ve spent over 30 years helping people make smarter financial decisions. The picks on this page are investing platforms our team has personally evaluated and would genuinely recommend to friends and family.
4. Each broker has its strengths, and the best fit for you really depends on your investing style.

Why we like it: SoFi® is great if you want to manage your financial life in one place. You can trade stocks, invest for retirement, open a bank account, and even apply for loans — all from the same app, with no trading commissions. Getting started is beginner-friendly too. Fractional shares let you invest in big-name companies like Apple or Amazon for as little as $5, and you’ll also get access to mutual funds, IPOs, and other extras. 

Who it’s best for: Someone who wants to consolidate their financial life into one app — banking, investing, and borrowing — without paying commissions or juggling multiple platforms.

Why we like it: Fidelity earned a perfect 5 out of 5 stars from our reviews team — and also won Motley Fool Money’s Best Stock Broker Overall award for 2026. What makes Fidelity special is that it somehow manages to be the right platform for a brand-new investor and someone managing a seven-figure retirement account. It’s hard to go wrong choosing Fidelity.

Who it’s best for: Anyone — seriously. But especially long-term investors who want a trusted, full-featured platform they’ll never have to outgrow.

Why we like it: E*TRADE is where data nerds come to feel at home. The platform lets you customize your charts with up to 16 columns and 65 different metrics — which sounds like a lot until you realize how much you actually want that kind of control when you’re doing real research.

The mobile app is robust too, so you’re not sacrificing anything when you’re on the go. Wall Street maintains a general consensus of “Hold” on Tesla stock (TSLA) following its highly polarizing Q2 earnings report, making it a highly speculative “Buy” reserved strictly for long-term artificial intelligence bulls. While the company achieved record quarterly revenue of $28.24 billion (up 26% year-over-year) and record vehicle deliveries, an aggressive price-cutting strategy combined with soaring AI development costs severely eroded its core profitability, sparking a sharp post-earnings stock sell-off.

If you’re interested in this industry, here are our favorite EV stocks to consider for your portfolio. Although we’re not done with the current earnings season, we can safely say that one of the more disappointing companies reporting its latest “quarterlies” is Tesla (NASDAQ: TSLA). Self-driving cars are a massive technological movement investors will want to participate in.

Key Points

• Self-driving stocks offer exposure to AI, chips, and cloud infrastructure integral to vehicle autonomy.
• Key players include tech giants and automakers with advanced driver-assist systems (ADAS).
• Investing in diverse companies within this sector allows access to self-driving advancements.

Motley Fool Issues Total Conviction Buy Alert

CEO Invests $2.6 Billion In One Stock is still reeling from the financial crisis. Tech stocks are considered “too risky.”

But inside The Motley Fool, a rare buy signal just flashed for a little-known chipmaker named Nvidia.

That was the day we issued a re-recommendation for Nvidia — telling our members to “Double Down” on the stock.

If you had ignored it, you’d have missed out on a life-changing 53,614% return.

$5,000 invested in Nvidia at that moment would be worth $2,685,702 today.

But here’s the really interesting part: This signal has a long history of spotting massive winners before the rest of the world catches on. 

• Netflix: Signal flashed on 11/30/04… up 37,699%
• Amazon: Signal flashed on 12/16/10… up 2,514%
• Tesla: Signal flashed on 11/16/12… up 14,647%
• Shopify: Signal flashed on 7/15/16… up 3,419%

This signal has been so lucrative that many of us around the office have started calling it the Total Conviction Buy Alert.

It’s the moment our team identifies a winner that is poised to become a market legend.

And today, July 28, 2026… this rare buy signal is now flashing once again… and this time for a company that is just 1/100th the size of Nvidia.

This stock has been recommended 9 separate times by different Motley Fool services since 2023… and the first recommendation is already up 10x in just 2 years.

And Motley Fool CEO Tom Gardner is convinced that the run is just beginning.

In fact, he recently told a group of Motley Fool insiders that this company has his “highest conviction.”

Why? Because this under-the-radar California company is at the center of the booming space economy — which The World Economic Forum and McKinsey project will nearly triple to $1.8 trillion by 2035.

To put that in perspective, that’s roughly the size of the entire global semiconductor industry! The same industry that minted millionaires out of early Nvidia investors.

“Space is existential… from the future of the planet to the future of commerce,” says Adam Jonas from Morgan Stanley.

As you can see, it’s no coincidence that Elon Musk merged SpaceX with his AI company in a deal valued at $1.25 trillion. Or that Jeff Bezos has poured billions into Blue Origin.

The world’s smartest entrepreneurs aren’t debating whether space will be big. They’re racing to own it.

And yet just like AI a decade ago, most investors are still ignoring this opportunity — opting out of one of the next decade’s most explosive growth curves.

Which brings me back to the company that triggered our Total Conviction buy signal…

Most companies in this industry do one thing — they build satellites OR they launch them. This company does it all. Design, manufacture, launch, and monitoring. They’re positioning themselves to be the one-stop shop of the space economy.

That’s an incredibly valuable place to be. And we believe they’re just getting started.

Tom Gardner recently interviewed this company’s CEO and was so impressed that he immediately recommended members buy more shares.

And this CEO is putting his money where his mouth is.

He’s betting his personal fortune — over $2.6 billion — on his company.

And here’s the real kicker…

Despite this company’s jaw-dropping success over the past few years, most investors have still never even heard its name.

While everyone on CNBC and in The Wall Street Journal is busy talking about mega-cap tech stocks… our team has been doing what the world’s greatest investors do: looking for the NEXT stock that could deliver returns of +1,000%, +2,000%, or even +5,000%.

And we believe this company could be it.

Now, in case you’re not familiar with who’s making this call, here’s what you should know.

The Motley Fool was founded 33 years ago by brothers Tom and David Gardner. What started as a small investment newsletter with 300 subscribers has grown into one of the most trusted names in investing, serving millions of investors around the globe.

Our flagship service, Motley Fool Stock Advisor, has been delivering new stock recommendations every month for over two decades.

If you take every single one of those picks — the winners, the losers, and everything in between — and average the returns together, here’s what you find:

The AVERAGE Stock Advisor pick is up 896% vs. just 206% for the S&P 500.

That’s the average.

It’s no wonder Time Magazine says “Even billionaires get ideas from The Motley Fool.”

So when Tom Gardner says a stock has his “highest conviction” and the Total Conviction signal is flashing, it’s worth paying attention.

Now, I want to be upfront about something.

As much as we believe in this company, we would never tell you to put all your eggs in one basket. That’s not how great investors build wealth.

That’s why, when you join Stock Advisor today, you won’t just get the full details on this “Total Conviction” stock.

You’ll also get:

• Two additional stocks that have recently triggered the Total Conviction buy signal — as part of a brand-new comprehensive research report: ‘Tom Gardner’s Double Down Stocks For 2026’ 
• Two timely stock picks every single month — fresh recommendations from the Stock Advisor team delivered directly to you, so you always know where the team sees the best opportunities.
• Top 10 Best Buys Now — a regularly updated ranked list of the stocks the team believes are the best buys in the market today.

This is a complete investing system built to help investors find the market’s biggest potential winners — not just one stock recommendation.

And to be clear: we’re sharing the details of this Total Conviction stock — and the two additional Double Down picks — ONLY with members of Motley Fool Stock Advisor.

But I want to make this as easy a decision as possible.

Because I’m completely convinced you’ll be impressed by the exclusive research behind these stocks, your Stock Advisor membership is backed by a 30-day, 100% membership-fee-back guarantee.

That means you can join today, get the full details and ticker symbols of all three Double Down stocks, explore the Top 10 Best Buys Now, and review this month’s brand-new recommendations — and if you aren’t completely satisfied, you get every penny back of your membership fee back within 30 days. No questions asked.

Think about how many investing trends you’ve watched take off — wishing you’d gotten in earlier.

When the Total Conviction signal flashed for Nvidia in 2009, most people ignored it.

But those who took action turned $5,000 into $2,685,702.

This signal is flashing again. Right now. For a company 1/100th the size of Nvidia. Self-driving technology is moving from hype to real-world deployment. Advanced driver-assist systems (ADAS) are now common, and companies are still racing toward broader autonomy.

This trend reaches far beyond automakers. Self-driving systems depend on AI software, high-performance chips, sensors, and cloud infrastructure to process and learn from enormous volumes of driving data. That means investors can gain exposure to tech leaders, semiconductor firms, and legacy automakers developing next-generation driver-assistance systems.

How to Buy Google Stock

Get step-by-step guidance on investing in Alphabet (Google) stock and learn the ins and outs of this technology company.

Key Points

• Alphabet Inc. (GOOGL and GOOG) allows investment in the search giant Google via Class A and C shares.
• Alphabet has completed stock splits, including a notable 20-for-1 split in 2022.
• Invest in Alphabet indirectly through ETFs like VTI and VOX .

Google’s parent company, Alphabet (NASDAQ: GOOG, GOOGL), is one of the world’s most valuable and influential technology companies. It dominates online search and digital advertising and continues expanding in artificial intelligence, cloud computing, and emerging technologies.

If you’re considering owning shares, this guide walks through how to buy Alphabet stock, the difference between GOOG and GOOGL, and what to evaluate before investing.

How to invest in Google

Here’s a step-by-step guide to buying Alphabet:

1. Open your brokerage account: Log in to your brokerage account where you handle your investments. Best Online Brokers and Trading Platforms for July 2026 Whether you just got a tax refund, finally have a little extra cash to put to work, or have simply decided that this is the year you start investing — you’re in the right place.
2. At Motley Fool Money, we’ve spent over 30 years helping people make smarter financial decisions. The picks on this page are investing platforms our team has personally evaluated and would genuinely recommend to friends and family.
3. Each broker has its strengths, and the best fit for you really depends on your investing style.
4. Short on time? Here are a few of our favorite picks:

New investors benefit from its user-friendly tools, strong educational content, and $0 commissions, while seasoned traders get advanced research, customization, and depth. It’s a one-stop shop with a reputation for reliability, making it an easy choice no matter where you are in your investing journey.

Why we like it: SoFi® is great if you want to manage your financial life in one place. You can trade stocks, invest for retirement, open a bank account, and even apply for loans — all from the same app, with no trading commissions. Getting started is beginner-friendly too. Fractional shares let you invest in big-name companies like Apple or Amazon for as little as $5, and you’ll also get access to mutual funds, IPOs, and other extras.

Why we like it: E*TRADE is where data nerds come to feel at home. The platform lets you customize your charts with up to 16 columns and 65 different metrics — which sounds like a lot until you realize how much you actually want that kind of control when you’re doing real research.

The mobile app is robust too, so you’re not sacrificing anything when you’re on the go. 

Why we like it: Schwab basically invented the low-cost brokerage model — and decades later, it’s still one of the best in the business. What separates Schwab from the other discount brokers is depth — you can open a checking account, get a credit card, and even walk into a physical branch if you ever need face-to-face help.

Who it’s best for: Cost-conscious investors who want low fees, broad investment options, and the option to eventually manage their whole financial life in one place.

Why we like it: Robinhood changed the investing world when it launched zero-commission trading. And it still stands strong today, taking home the Best Online Trading Platform award for 2026 in the most recent Motley Fool Money Awards. The feature that surprises people most is the IRA match. You can get a 1% contribution match added to your traditional or Roth IRA automatically which is basically free money. The app is clean, fast, and genuinely one of the easiest platforms to use.

Who it’s best for: Beginner investors and mobile-first traders who want a no-frills, low-cost platform that makes it easy to start with whatever you have.

Why we like it: Most brokers quietly profit off your trades through a practice called payment for order flow (PFOF) — meaning they’re getting paid by market makers for routing your orders, which can affect how your trades get executed. Public opted out of that model entirely and charges upfront fees instead, so you always know what you’re paying and why. Beyond the transparency angle, Public punches above its weight on investment variety. It offers fractional shares which make investing accessible no matter your starting budget.

Who it’s best for: Fee-conscious investors who want full transparency on how their trades are handled, plus a wide range of assets to explore.

Why we like it: Here’s something rare: $0 commissions on all mutual funds. Most brokers offer commission-free trading on a limited selection — J.P. Morgan gives you no-transaction-fee access across the board, which is a genuinely big deal if mutual funds are a core part of your strategy. Bonus points if you’re already a Chase customer — the platform integrates directly with your Chase account.

Who it’s best for: Mutual fund investors, especially Chase customers who want everything under one banking roof.

Why we like it: The founder of Vanguard, John “Jack” Bogle, was known as the “father of index funds” and created one of the most passive investing philosophies many people (including myself) follow today. If you want to buy low-cost index funds and ETFs, hold them for decades, and not pay more than you have to along the way, Vanguard is the gold standard. Its own suite of mutual funds offers some of the lowest expense ratios in the industry.

Vanguard’s interface is simple, the fees are minimal, and the philosophy is built around you keeping more of your returns. Our kind of company.

Who it’s best for: Long-term, buy-and-hold investors who care more about low costs and compounding than fancy tools or active trading features.

Why we like it: If you want to do serious technical analysis from your phone, Webull is in a class of its own. Advanced charts, a fully customizable interface, $0 commissions, and no per-contract fees on options. Most platforms charge for that, so it’s a meaningful edge if options are part of your strategy.

You can also trade fractional shares starting at $5, so it’s accessible even if you’re not working with a huge starting balance. One of our editors has used Webull for three years and specifically called out the portfolio risk assessment feature as something she hasn’t seen replicated elsewhere.

Who it’s best for: Active traders and options investors who want desktop-level power in a mobile app, without paying extra for the privilege.

Why we like it: If breadth of access matters to you, nothing on this list beats Interactive Brokers. We’re talking stocks, ETFs, options, futures, forex, crypto, and mutual funds across 150+ markets globally. For investors who want to trade internationally or work with a wide range of asset classes, this is the platform. Margin rates are among the lowest we’ve reviewed, making it a go-to for traders who borrow to invest.

The desktop platform delivers serious charting and technical analysis tools — and between the Lite and Pro plans, there’s a version for wherever you are in your trading journey.

Who it’s best for: Experienced and active traders who want maximum market access, low margin rates, and advanced tools — and don’t need the platform to hold their hand. Choosing a brokerage can feel like trying to find the perfect pair of shoes. A great fit will have you walking on air, but the wrong choice will give you blisters. Luckily, finding the right brokerage doesn’t have to be stressful. Whether you’re just starting out or looking to upgrade, this guide will help you make sense of your options.

We’ll walk you through the key steps to finding a brokerage that fits your investing style, goals, and budget. Let’s dive in!

1. Know your goals

Before you start looking at brokerages, take a step back and think about what you want to achieve with your investing. Are you saving for retirement? Looking to trade stocks for fun? Trying to build long-term wealth? Your goals will steer you toward the right brokerage features. Best IRA Accounts: Our 8 Top Picks of 2026 Want an easy way to start saving for your future? An individual retirement account (IRA) could be just what the doctor ordered.

IRAs are one of the simplest and most valuable ways to save for retirement. Anyone with an income can open one, and they come with powerful tax advantages that can save you thousands in the long run. I recently opened one myself — and have no regrets.

Featured picks

Choosing an IRA can feel overwhelming, but these two options make it easier to get started:

The Schwab Satisfaction Guarantee

We believe every investor deserves to work with a firm they can count on. At Schwab, our commitment to your satisfaction is backed by a guarantee. If for any reason you’re not completely satisfied, we’ll refund your eligible fee or commission and work with you to make things right. Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Schwab reserves the right to act as principal on any fixed-income transaction, public offering or securities transaction. When Schwab acts as principal, the bond price includes our transaction fee (outlined above) and may also include a markup that reflects the bid-ask spread and is not subject to a minimum or maximum. When trading as principal, Schwab may also be holding the security in its own account prior to selling it to you and, therefore, may make (or lose) money depending on whether the price of the security has risen or fallen while Schwab has held it. When Schwab acts as agent, a commission will be charged on the transaction.

**Schwab Satisfaction Guarantee: If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc. (“Schwab”), Charles Schwab Bank, SSB (“Schwab Bank”), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern.

How to Reach Us:

By Phone:

Schwab by Phone™: To reach an Investment Professional or to use our automated phone services, call 1-800-435-4000.

TeleBroker^®: For access to our automated touch-tone services, call 1-800-2SCHWAB (1-800-272-4922).

For services in 中文: 1-800-662-6068

For services in español: 1-800-786-5174

International clients: For services in English, 中文, or español, call 1-415-667-8400.

Introduction

Schwab provides a broad range of value-added services, some of which have associated fees. This document provides you with an overview of standard pricing for commission rates, transaction fees, and key account charges and service fees.

Information detailed in this guide also applies to international clients (clients residing, or who later move, outside the U.S., its territories and possessions). Commissions and fees described in this guide are stated in U.S. dollars. Not all products and services are available in all countries, and may be subject to country-specific restrictions. A separate pricing guide applies to clients associated with Charles Schwab, Hong Kong, Ltd.

Certain clients may have a different pricing structure based on assets or activities in their accounts at Schwab.

Definitions

Accounts of Your Household—Accounts that have been linked in accordance with Schwab’s householding guidelines. Schwab makes a reasonable effort to automatically link qualified accounts of persons with the same last name at the same home address, including accounts held at certain Schwab affiliates.

Schwab aggregates the balances and activities of Accounts of Your Household to determine for your brokerage accounts: whether those accounts may qualify for certain fee waivers, and whether those accounts may qualify for certain benefits or features (“Household Calculations”).

Schwab may consider other accounts to be in your household upon your request if account holders are in the same family, there is a dependent relationship, or in certain other similar instances at Schwab’s discretion. You are responsible for identifying accounts that should be linked for purposes of determining Accounts of Your Household and Household Calculations. For example, if you or other members of your family who reside at your home address have a different last name (including a spouse, if applicable), you need to contact Schwab to request that we combine your accounts for purposes of Household Calculations. If an account is added to Accounts of Your Household, any impact on Household Calculations may not take effect until the following quarter.

Householding rules applicable to fiduciary accounts are as follows: IRA, Custodial and certain Trust accounts that meet Schwab’s householding guidelines generally will be automatically included in Accounts of Your Household and Household Calculations. If you have an IRA, Custodial or Trust account and you are acting in a fiduciary capacity, it is your responsibility and not Schwab’s to consider whether it is appropriate to consider the balances and activities of that account in Household Calculations, which could benefit the fiduciary account and/or other Accounts of Your Household. You must contact Schwab to request that the balances and activities of your fiduciary account not be included in Accounts of Your Household and Household Calculations if you determine that it is not appropriate.

Qualified Retirement Plan (QRP), Keogh, Company Retirement Account (CRA), Pension Trust, Individual 401(k) and 403(b)(7) accounts (collectively, “Retirement Plan Accounts”) are not automatically included in Household Calculations. However, for certain services, the account holder of the Retirement Plan Account may elect to include the Retirement Plan Account in Accounts of Your Household and Household Calculations by providing Schwab with written instructions to do so. Please contact Schwab for the required form.

Automated Phone Trades—Trades placed through Schwab by Phone™ and TeleBroker^®.

Direct Access—A feature that allows trades to be placed directly through an electronic communications network, market maker or exchange.

Household Balance—The total aggregate balance, over a given period of time, of the assets and certain liabilities in Accounts of Your Household. In order to determine qualification for any fee waiver presented in the Pricing Guide for Individual Investors, Schwab will add up your daily Household Balances for the applicable time period, then divide this total by the number of days in the period.

Minimum Deposit Requirement—The minimum amount that must be deposited and maintained in an account to avoid account closure.

Online Trades—Trades placed through Schwab.com (which includes international.schwab.com, schwab.com.hk, and the Chinese-language version of Schwab.com), thinkorswim^® desktop, thinkorswim^® web, thinkorswim^® mobile, Schwab Mobile, Schwab software, or Schwab APIs.

Minimum Deposit Requirements

Account Type	Minimum Deposit Requirement
Schwab One® Account, Schwab One® Trust, and Schwab Account	$0
Schwab IRA (includes Traditional, Rollover, Roth and Roth Conversion accounts) and Education Savings Account	$0
Schwab One® Estate Account and Inherited IRA Account	$0
Schwab One® Custodial Account and Custodial IRA	$0
SEP-IRA, SARSEP-IRA, SIMPLE IRA, Qualified Retirement Plan, Keogh, Company Retirement Account, Pension Trust, Individual 401(k), and 403(b)(7) Accounts	$0
Schwab One® Organization Account	Schwab One® Organization accounts require a minimum deposit to open. Please contact Schwab for details.
Schwab One International® Account	$0

Commissions and Transaction Fees¹

U.S. Exchange-Listed Securities per Executed Trade*
Online2	$0
Automated Phone	$5
Broker-Assisted	$25

*Limited to National Market System (NMS) securities, excluding standardized options.

Note: For Equity New Issues (Primary and Secondary Offerings), a selling concession is included in the offering price.

U.S. Over-the-Counter (OTC) Market Securities Commissions per Executed Trade†
Online2	$6.95
Automated Phone	Online commission plus $5
Broker-Assisted	Online commission plus $25

^† Applies to non-NMS securities.

Canadian Stock Transactions Placed on the U.S. Over-the-Counter (OTC) Market per Executed Trade†
Online2	$6.95
Automated Phone	Online commission plus $5
Broker-Assisted	Online commission plus $25

^† Applies to non-NMS securities.

Foreign Stock Transactions^‡

Trades placed on the U.S. over-the-counter (OTC) market
Online	$50 foreign transaction fee3
Automated Phone	$55: $5 plus a $50 foreign transaction fee3
Broker-Assisted	$75: $25 plus a $50 foreign transaction fee3

Trades placed directly on a foreign exchange
Online	Not available
Automated Phone	Not available
Broker-Assisted	The greater of $100 or 0.75% of principal, with no maximum

^‡ These fees apply to trades of foreign ordinary shares placed directly on a foreign exchange or on the U.S. over-the-counter (OTC) market.

Non-U.S. ETFs are available for eligible non-U.S. residents as broker-assisted trades, subject to a $50 transaction fee. For non-U.S. ETF orders, please contact the Global Services team from inside the U.S. at 1-800-992-4685 and from outside the U.S. at +1-415-667-8400.

Special Stock Transactions

• Large block transactions (orders of 10,000 or more shares, or orders over $500,000): Can be eligible for special handling and/or pricing—please call us for information.
• Restricted stock transactions: Broker-assisted commission pricing schedule applies for all restricted stock trades. Single orders that include restricted and unrestricted shares of the same security will be charged the broker-assisted rate.
  
  Note: Standard commission schedules apply to vested equity awards issued by an employer and corporate stock plan.

Stock Borrow Fees for Short Selling

For certain securities, if you have an open order or open short position in your Account, whether it is established through short selling, option exercise or assignment, account transfer, or otherwise, Schwab can charge a Stock Borrow Fee. The fee is calculated as the end of day short market value, multiplied by the quoted interest rate, divided by 360. This Stock Borrow Fee is subject to change on a daily basis and can be charged as long as you hold the open short position. The aggregate monthly Stock Borrow Fee will appear on your account statement. The interest rate charged will vary depending on the supply and demand for the particular security in the securities lending market. Schwab can seek to charge you any rate consistent with Schwab’s view of competitive necessities.

Mutual Fund Transaction Fees per Executed Trade

Some funds also charge sales and/or redemption fees. Please read the prospectuses for details. You can buy shares directly from a fund company or its principal underwriter or distributor without paying Schwab’s transaction or service charges (except Schwab Funds^®).

No-Transaction-Fee Funds (includes funds available through the Mutual Fund OneSource® service*)4
Online and Automated Phone	$0
Broker-Assisted	$25 service charge per trade
Automatic Investment Plan (AIP)	$0

Transaction-Fee Funds
Online and Automated Phone	Up to $49.95 or $74.95** per buy, $0 per sell
Broker-Assisted	Online or automated phone fee plus $25 service charge per trade
Automatic Investment Plan (AIP)	Up to $10 per buy, $0 per sell***

* Certain institutional account types receiving this pricing guide may be able to purchase additional institutional share classes without a transaction fee.

** An increased transaction fee applies to purchases of funds from certain fund families that do not pay Schwab for recordkeeping, shareholder, and other administrative services on fund shares held by clients or that make payments that do not compensate Schwab sufficiently to offset Schwab’s support of these or additional services. Schwab may receive compensation on fund shares held by other client segments.

*** AIP transaction fees apply to AIP-enrolled mutual funds. Increased transaction fee funds are not eligible for AIP enrollment.

Note: Per-trade transaction fees do not exceed 8.5% of principal. Trades below $100 in principal are exempt from the transaction fee. For information about offshore funds (funds registered outside the U.S. for purchase by non-U.S. persons only), please call us.

Options, Futures, and Forex Commissions per Executed Trade

Option Commissions per Executed Trade
Online	$0 base commission, plus $0.65 per-contract fee
Automated Phone	$5, plus $0.65 per-contract fee
Broker-Assisted	$25, plus $0.65 per-contract fee

Note: Per-contract fees are waived for buy-to-close options trades executed online for $0.05 or less.

Note: There are no commissions or per-contract fees assessed on transactions resulting from options exercises and assignments.

Futures and Futures Options Commissions
Futures	$2.25 per contract
Futures Options	$2.25 per contract
Broker-Assisted	$2.25 per contract with no additional fee

Note: Commission rates depicted above are quoted on a per-contract, per-side basis. Pricing does not include customary National Futures Association (NFA) and exchange fees. Additional fees can apply at some foreign exchanges. NFA and exchange fees can increase or decrease depending on the rates set by NFA or by the various futures exchanges, as applicable. Additional market data fees can apply at some futures exchanges.

Forex Commisions
Forex	$0.00
Broker-Assisted	$0.00

Note: Trade costs reflected in the Bid/Ask spread.

Fixed Income Investments

Schwab reserves the right to act as principal on any fixed income transaction, public offering, or securities transaction. When Schwab acts as principal, the bond price includes our transaction fee (outlined below) and can also include a markup that reflects the bid-ask spread and is not subject to a minimum or maximum. When trading as principal, Schwab may also be holding the security in its own account prior to selling it to you and, therefore, may make (or lose) money depending on whether the price of the security has risen or fallen while Schwab has held it. When Schwab acts as agent, a commission will be charged on the transaction.

Product Type	Online Pricing	Broker-Assisted Pricing
New Issues, including Certificates of Deposit	$0 (a selling concession can be included in the offering price)	$0 (a selling concession can be included in the offering price)
Treasury Bills, Notes, Bonds and TIPS (Secondary and Auction)	$0	$25
Secondary market transactions for Corporate Bonds, Municipal Bonds, Government Agencies, Zero-Coupon Treasuries (including STRIPS), and Certificates of Deposit	$1 per bond ($10 minimum/$250 maximum)	Online pricing plus $25 per trade
Preferreds or REITs	Stock commissions and minimums apply for secondary market transactions.	Stock commissions and minimums apply for secondary market transactions.
Commercial Paper, Foreign Bonds, Asset-Backed Securities, Mortgage-Backed Securities, Collateralized Mortgage Obligations, and Unit Investment Trusts	These are specialty products—please call us for information.	These are specialty products—please call us for information.

Note: Large block transactions (orders of more than 250 bonds) can be eligible for special handling and/or pricing—please call us for information.

Note: Our commissions and markups can be slightly less than our published schedule shown above due to rounding.

Account Activity Fees

Fee	Amount
Late settlement	$25
Mutual fund short-term redemption fee:4 Online and Automated Phone	$49.95
Mutual fund short-term redemption fee:4 Broker-Assisted	$49.95, plus $25 service charge
Order out of certificates (for all U.S. and some Canadian securities): Book entry of securities held electronically at transfer agent (Direct Registration System)	$0 per issue
Order out of certificates (for all U.S. and some Canadian securities): Physical certificates*	$100 per certificate. Additional charges can apply for rush requests.
Order out of certificates (for foreign securities): Physical certificates*	Variable fee (based on the location of the transfer agent)
Security reorganization: Voluntary, mandatory, and post-effective	$0
Transfer (out) of assets: Full	$50 per account
Transfer (out) of assets: Partial	$0 per account

*See Special Service Fee Waivers.

Cashiering and Administrative Services Fees

Fee	Amount
Overnight and/or bulk deliveries	$15 or more, subject to delivery speed and/or package size
Overnight Schwab-issued checks	$15
Non-sufficient funds/returned item	$25
Wire transfer: Outgoing†	$25 per transfer; $15 per transfer if submitted online
Wire transfer: Incoming	No fee
Foreign Currency Conversion	Up to 300 basis points (3%) of principal*

^†See Special Service Fee Waivers.

*When converting United States Dollars (USD) to a foreign currency, or when converting a foreign currency to USD, Schwab will charge a markup fee of up to 3% of the principal amount of the transaction. This does not include any additional fees that may be charged by intermediary financial institutions. With a foreign exchange transaction, you are buying or selling foreign currency at rates that may change at any time.

Custody Fees for Non-Publicly Traded Securities

Description	Amount
Annual custody fee for non-publicly traded securities	$250 per position Maximum of $500 per account

Note: Custody fees for Non-Publicly Traded Securities are billed annually in arrears. Certain Non-Publicly Traded Securities may be exempt from certain fees. Non-Publicly Traded Securities include (list is subject to change and not exhaustive): promissory notes; church bonds; limited partnerships; private limited partnerships; limited liability companies; private common, preferred, and convertible preferred stock; private bonds; private warrants; private placements; and private REITs.

Special Service Fees

Industry Fee—For certain securities transactions, Schwab collects an Industry Fee to offset an array of charges assessed on us directly or indirectly by self-regulatory organizations (“SROs”) (including national securities exchanges, clearing agencies, and a national securities association) and foreign governments. The amount of such charges incurred by Schwab depends on the nature of the transaction and the security purchased or sold. The Industry Fee is in addition to any commissions we may charge and is identified on your trade confirmation and account statements as Industry Fee.

The Industry Fee is collected to offset, as applicable, some or all the following SRO and foreign government fees:

• Section 31 Fee⁵
• FINRA Trading Activity Fee⁶
• Options Regulatory Fee⁷
• Proprietary Index Options Fee⁸
• Foreign Transaction Tax on ADRs⁹

Schwab’s Industry Fee may rise or fall periodically depending upon the fee rates set by the SEC, SROs, or foreign governments.

Schwab will determine the amount of its Industry Fee in its sole and reasonable discretion, and such fee may differ from or exceed the actual fees properly paid by Schwab in connection with any transaction or series of transactions. Differences may be caused by various internal and external factors, including, among other things, the rounding methodology used, the use of allocation accounts, transactions or settlement movements for which a fee may not be assessed, timing differences in fee changes, third-party rate caps and floors, calculation errors, and various other anomalous reasons.

Please note that Schwab does not notify clients when it increases or decreases the Industry Fee or when the component fees change.

American Depositary Receipt (ADR) Fee—Banks that custody ADRs are permitted to charge ADR holders a fee. Fees collected from Schwab by the Depository Trust Company for an ADR will be automatically deducted from your Schwab account(s) and shown on your account statement(s) as “ADR Pass-Thru Fee.”

Transaction Fee—This fee includes either fees charged for purchases and sales of certain mutual fund shares or fees charged for purchasing U.S. Treasury obligations via the auction process. The amount of this fee will appear on your trade confirmation.

Special Service Fee Waivers

• Fees to order out physical certificates: Fees can be waived for households that meet certain asset levels.
• Wire transfer fee: With $100,000 or more in Household Balances, you will receive three free online domestic wire transfers per quarter.
• Overnight delivery fee for Schwab-issued check requests: With $1,000,000 or more in Household Balances, overnight delivery fees for Schwab-issued checks will be waived.

Endnotes

¹ Excluding mutual funds, commissionable trades that execute over more than one day will be charged a separate commission for each additional day; each separate commission will apply to the portion of the trade executed on the corresponding additional day. Trade orders for which price or quantity are changed by the client and, as a result, execute over multiple trades on the same day are each charged a separate commission.

² Up to 99,999,999 shares can be placed per trade.

³ Transactions for foreign ordinary shares incur additional custody, clearing, and settlement expenses. A foreign transaction fee is added to trades placed on the U.S. over-the-counter (OTC) market through all channels. The commission and foreign transaction fee will be combined and will appear as one line item, labeled “Commission,” on your trade confirmation.

⁴ Schwab’s short-term redemption fee will be charged on redemption of funds purchased through Schwab’s Mutual Fund OneSource^® service (and certain other funds with no transaction fee) and held for 90 days or less. Schwab reserves the right to exempt some funds from this fee, including certain Schwab Funds^®, which can charge a separate redemption fee, and funds that accommodate short-term trading.

⁵ The SEC assesses transaction fees on each national securities exchange and FINRA based on the aggregate dollar amount of sales of certain securities. The SEC recalculates the amount of this fee periodically—at least once per year but sometimes more often. This fee is ultimately intended to cover the costs incurred by the government, including the SEC, for supervising and regulating the securities markets and securities professionals. Each national securities exchange and FINRA offsets these transaction fees by charging their member broker-dealers. Schwab may be assessed these fees directly from SROs of which it is a member, and indirectly from other broker-dealers to whom we route orders.

⁶ FINRA, a national securities association, charges this fee to its member firms, such as Schwab, to recover the costs of supervision and regulation. This fee is set by rule and is specified in Schedule A of FINRA’s By-Laws.

⁷ The Options Clearing Corporation collects an Options Regulatory Fee (“ORF”) that is assessed by each options exchange. The amount of the ORF varies by options exchange, where an options trade executes, and whether the broker who’s responsible for the trade is a member of a particular exchange.

⁸ An options exchange, such as Cboe, may charge a proprietary index option fee on select index options (such as on the SPX®, OEX®, and VIX®) that only trade on their exchange.

⁹ The governments of some countries, such as France, Italy, and Spain, have implemented foreign transaction taxes on the purchase of certain securities they deem as being connected to their country, including U.S.-issued ADRs. These taxes are imposed extraterritorially, without regard to where an investor or financial firm is located, and are calculated as a percentage of the purchase amount of a covered security.

Commissions and Transaction Fees for Schwab Global Accounts

Introduction

With your Schwab Global Account™, you can place trade orders for foreign securities on foreign exchanges in foreign currencies.

To establish a Schwab Global Account™, you must have a Schwab One^® Account. Please see the information below about commissions and transaction fees for your Schwab Global Account™. To view other pricing information that may apply to your Schwab Global Account™, please refer to the rest of this guide.

Commissions and Transaction Fees

For Schwab Global Accounts, trades placed on foreign stock exchanges are subject to commissions and local broker fees, as follows:

Trades Placed on Foreign Stock Exchanges¹

Commissions and Fees per Executed Trade in Local Currency

Country	Commission: Online Trades	Commission: Broker-Assisted Trades	Local Broker Fee2
Australia	32 AUD	70 AUD	0.1% of principal
Belgium	19 EUR	50 EUR	0.1% of principal
Canada	9 CAD	65 CAD	Varies3
Finland	19 EUR	50 EUR	0.1% of principal
France4	19 EUR	50 EUR	0.1% of principal
Germany	19 EUR	50 EUR	0.1% of principal
Hong Kong5	250 HKD	600 HKD	0.13% of principal
Italy6	19 EUR	50 EUR	0.1% of principal
Japan	2000 JPY	6000 JPY	0.1% of principal
Netherlands	19 EUR	50 EUR	0.1% of principal
Norway	160 NOK	400 NOK	0.1% of principal
United Kingdom7	9 GBP	30 GBP	0.1% of principal

¹ This list of countries and fees is subject to change without notice.

² Schwab is charged a local broker fee for all trades placed directly on foreign markets. The fee is passed directly on to clients and reported separately as “Other fee/tax” on the trade confirmation.

³ Local broker fees in Canada are up to $0.005 CAD per share for stocks trading at less than $1 CAD per share, and $0.01 CAD per share for stocks trading at or above $1 CAD per share.

⁴ The additional fee charged is a financial transaction tax of 0.3% of principal imposed by the government of France. It applies on all buys for securities with a market capitalization in excess of €1 billion. This is reflected in “Other fee/tax” on the trade confirmation.

⁵ Additional fees charged in Hong Kong include:

• Transaction levy of 0.003% of principal on buys and sells, rounded to the nearest HK cent.
• Trading fee of 0.005% of principal on buys and sells, rounded to the nearest HK cent.
• Stamp duty of 0.13% of principal on buys and sells, rounded up to the nearest HK dollar.

⁶ The additional fee charged is a financial transaction tax imposed by the government of Italy: 0.1% of principal on purchases executed on regulated markets or MTFs; or 0.2% of principal on purchases executed other than on regulated markets or MTFs. It applies on all purchases for securities with a market capitalization in excess of €500 million. This is reflected in “Other fee/tax” on the trade confirmation.

⁷ Additional fees charged in the United Kingdom include: PTM Levy £1 GBP on buys and sells where the principal amount is greater than £10,000 GBP and a stamp duty of 0.5% of principal on buys only.

Foreign Currency Transactions*

Foreign currency transactions are subject to a fee based on the amount of currency converted in a single transaction, as follows:

Foreign Exchange Fees Amount Converted	Foreign Exchange Fees Fee per Currency Conversion Transaction
Under $100,000	1% of principal
$100,000–$249,999	0.75% of principal
$250,000–$499,999	0.5% of principal
$500,000–$999,999	0.3% of principal
$1,000,000 and above	0.2% of principal

*To the extent that you hold a foreign currency in your Schwab Global Account™ that is paying a negative interest rate, Schwab can be charged interest to hold that currency. If that occurs, Schwab reserves the right to charge your Account, with no additional markup, the amount of interest charged to Schwab.

Please note that this does not apply to Schwab accounts managed by an independent investment advisor.

Independent investment advisors are not owned by, affiliated with, or supervised by Charles Schwab & Co., Inc. (“Schwab”). Certain investment advisors, such as Charles Schwab Investment Management, Inc. (“CSIM”) and Schwab Wealth Advisory, Inc. (“SWAI”), are affiliated with Schwab.

Not all products and services are available in all countries, and may be subject to country-specific restrictions.