Schwab
Trade stocks and options, including spreads up to four legs, at Charles Schwab. Live accounts only, connected through Schwab's own sign-in.
Charles Schwab is a full-service brokerage supporting stocks and options trading.
Supported Equity Types
- ✅ Stocks
- ✅ Options (single legs and spreads)
- ❌ Futures
- ❌ Cryptocurrency
Account Types
- Live Trading - Real money trading
Schwab does not offer a paper trading API. Test strategies with small position sizes first.
Connecting Schwab
- Click Integrations in the left sidebar
- Find Schwab in the Brokers grid and click its card
- Click Connect live account
- Complete OAuth authorization and grant the requested permissions
- Select the account(s) to connect
Every step is in the Schwab setup guide.
Features
Options Trading
- Single leg options (calls and puts)
- Multi-leg spreads (up to 4 legs)
- All standard spread types supported
- Automatic OCC symbol formatting with Schwab-specific spacing
Order Types
- Market orders
- Limit orders
- Extended hours support
Position Tracking
- Real-time position updates
- Automatic exit matching
- Spread position tracking
Margin Requirements
Schwab uses standard Reg T margin:
- Long Stock - 100% of purchase price
- Short Stock - 150% of stock value
- Long Options - Premium paid (100%)
- Short Naked Options - Significant margin required
- Spreads - Max loss (spread width - credit)
Limitations
- No futures or crypto support
- No fractional shares
- Options in whole contracts only
- No paper trading environment
Troubleshooting
"Insufficient buying power"
Check available cash and margin. Credit spreads require margin equal to max loss.
"Invalid option symbol"
Strike may not be available. Verify strikes exist in Schwab's option chain.
"Account not approved for options"
Ensure your Schwab account has options trading enabled with appropriate level.
Next Steps
Nyria Paper
Nyria's built-in simulated broker. One click, no credentials, no broker account. The fastest way to get a strategy executing end to end.
Connect Schwab to Nyria
End-to-end Charles Schwab setup: developer prerequisites, the OAuth flow, account selection, Stock Slices, 4-leg options, and fixing reauth_required.