---
title: "Charles Schwab"
description: "Our Charles Schwab integration lets you deploy live trading algorithms on our co-located servers that trade the capital you have in your Charles Schwab account."
canonical: https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages/charles-schwab
markdown: https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages/charles-schwab.md
language: python
source: https://github.com/QuantConnect/Documentation/tree/master/01%20Cloud%20Platform/10%20Live%20Trading/02%20Brokerages/07%20Charles%20Schwab
modified: 2026-11-02
index: https://www.quantconnect.com/llms.txt
---

# Charles Schwab

[Documentation](https://www.quantconnect.com/docs/v2.md) > [Cloud Platform](https://www.quantconnect.com/docs/v2/cloud-platform.md) > [Live Trading](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading.md) > [Brokerages](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages.md) > Charles Schwab

> Code examples are shown in Python. Append `?lang=csharp` to this URL for the C# version of this page.

## Introduction

QuantConnect enables you to run your algorithms in live mode with real-time market data.

The [Charles Schwab Corporation](https://www.schwab.com/pricing) was founded by Charles R. Schwab in 1971. Charles Schwab provides access to trading Equities, Options, Index Options, and other assets for clients with [no account or trade minimums, or hidden fees](https://www.schwab.com/pricing).

## Account Types

Charles Schwab supports cash and margin accounts. To set the account type in an algorithm, see the [Charles Schwab brokerage model documentation](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md).

### Create an Account

Follow the [account creation wizard](https://www.schwab.com/open-an-account) on the Charles Schwab website to create a Charles Schwab account.

### Paper Trading

The Charles Schwab API doesn't support paper trading, but you can follow these steps to simulate it with QuantConnect:

1. In the `initialize` method of your algorithm, [set the Charles Schwab brokerage model and your account type](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md).
2. [Deploy your algorithm with the QuantConnect Paper Trading brokerage](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages/quantconnect-paper-trading.md#15-Deploy-Live-Algorithms).

## Authentication

Our integration supports authenticating multiple Charles Schwab user accounts, one for each project, with one trading account. If you deploy a second algorithm for the same user, the first algorithm stops. For example, if you authenticate as **JohnDoe** with trading accounts **XXXXX549** and **XXXXX725**, you can deploy to only one of those. To deploy a second algorithm, you must authenticate as a different user, for example **RichardRoe**, and select trading accounts associated with it.

## Asset Classes

Our Charles Schwab integration supports the following asset classes:

- [US Equities](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/us-equity.md)
- [Equity Options](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/equity-options.md)
- [Index](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/index.md)
- [Index Options](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/index-options.md)

You may not be able to trade all assets with Charles Schwab. For example, if you live in the EU, you can't trade US ETFs. Check with your local regulators to know which assets you are allowed to trade. You may need to adjust settings in your brokerage account to live trade some assets.

## Data Providers

We recommend the [QuantConnect data provider](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/quantconnect.md), which is free and supplies [US Equities](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/quantconnect/us-equities.md), [US Equity Options](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/quantconnect/us-equity-options.md), and [US Index Options](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/quantconnect/us-index-options.md) data during live trading. It also supplies [SPX and VIX Index data](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/quantconnect/us-indices.md), which SPX and VIX Index Options need for the underlying index. If you'd rather trade on Charles Schwab prices, you might need to purchase a [market data subscription from Charles Schwab](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/charles-schwab.md). For more information about live data providers, see [Datasets](https://www.quantconnect.com/docs/v2/cloud-platform/datasets.md).

## Orders

We model the Charles Schwab API by supporting several order types, the `TimeInForce` order property, and order updates. When you deploy live algorithms, you can [place manual orders](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/algorithm-control.md#03-Place-Manual-Trades) through the IDE.

### Order Types

The following table describes the available order types for each asset class that our Charles Schwab integration supports:

| Order Type | Equity | Equity Options | Index Options |
| --- | --- | --- | --- |
| [Market](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/market-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [Limit](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/limit-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [Stop market](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/stop-market-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |  |
| [Market on open](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/market-on-open-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |  |  |
| [Market on close](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/market-on-close-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |  |  |
| [Combo market](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/combo-market-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [Combo limit](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/combo-limit-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [Bracket](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/contingent-orders/bracket-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [One cancels other](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/contingent-orders/one-cancels-other-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |
| [One triggers other](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/contingent-orders/one-triggers-other-orders.md) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) | ![green check](https://cdn.quantconnect.com/i/tu/check.png) |

### Order Properties

We model custom order properties from the Charles Schwab API. The following table describes the members of the `CharlesSchwabOrderProperties` object that you can set to customize order execution.

| Property | Data Type | Description | Default Value |
| --- | --- | --- | --- |
| `time_in_force` | `TimeInForce` | A [TimeInForce](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-properties.md#03-Time-In-Force) instruction to apply to the order. The following instructions are supported: `DAY` `GOOD_TIL_CANCELED` `good_til_date` | `TimeInForce.GOOD_TIL_CANCELED` |
| `extended_regular_trading_hours` | `bool` | If set to true, allows orders to also trigger or fill outside of regular trading hours. | `False` |

### Contingent Orders

Charles Schwab accepts sets of [contingent orders](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-types/contingent-orders.md), including chains of triggered orders. Every order in the set is a single-leg order. Charles Schwab doesn't accept combo orders or one updates other orders in a set, and you can't update the orders of a set. To change a set, cancel it and place a new one.

### Updates

We model the Charles Schwab API by supporting [order updates](https://www.quantconnect.com/docs/v2/writing-algorithms/trading-and-orders/order-management/order-tickets.md#04-Update-Orders).

### Handling Splits

If you're using raw [data normalization](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/us-equity/requesting-data.md#11-Data-Normalization) and you have active orders with a limit, stop, or trigger price in the market for a US Equity when a [stock split](https://www.quantconnect.com/docs/v2/writing-algorithms/securities/asset-classes/us-equity/corporate-actions.md#02-Splits) occurs, the following properties of your orders automatically adjust to reflect the stock split:

- Quantity
- Limit price
- Stop price
- Trigger price

## Rate Limit

Charles Schwab limits order requests (place, update, and cancel) to 120 requests per minute and 4,000 order requests per day. To avoid hitting these limits, design your algorithm to issue orders sparingly.

## Fees

The Charles Schwab trading for Equity is commission-free. To view the Charles Schwab trading fees, see the [Pricing](https://www.schwab.com/pricing) page on the Charles Schwab website. To view how we model their fees, see [Fees](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md#06-Fees).

## Margin

We model [buying power](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md#07-Buying-Power) and [margin calls](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/margin-calls.md) to ensure your algorithm stays within the margin requirements.

## Slippage

Orders through Charles Schwab do not experience slippage in backtests and [QuantConnect Paper Trading](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages/quantconnect-paper-trading.md). In live trading, your orders may experience slippage.

To view how we model Charles Schwab slippage, see [Slippage](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md#05-Slippage).

## Fills

QuantConnect fills market orders immediately and completely in backtests and [QuantConnect Paper Trading](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/brokerages/quantconnect-paper-trading.md). In live trading, if the quantity of your market orders exceeds the quantity available at the top of the order book, your orders are filled according to what is available in the order book.

To view how we model Charles Schwab order fills, see [Fills](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md#04-Fills).

## Settlements

If you trade with a margin account, trades settle immediately

To view how we model settlement for Charles Schwab trades, see [Settlement](https://www.quantconnect.com/docs/v2/writing-algorithms/reality-modeling/brokerages/supported-models/charles-schwab.md#08-Settlement).

## Security and Stability

When you deploy live algorithms with Charles Schwab, we don't save your credentials.

## Deposits and Withdrawals

You can deposit and withdraw cash from your brokerage account while you run an algorithm that's connected to the account. We sync the algorithm's cash holdings with the cash holdings in your brokerage account every day at 7:45 AM Eastern Time (ET).

Funds are available for API trading 24 hours after the deposit.

## Demo Algorithm

The following algorithm demonstrates the functionality of the Charles Schwab brokerage:

```python
# Demonstrate Charles Schwab brokerage functionality with an EMA crossover strategy on SPY.
class CharlesSchwabDemoAlgorithm(QCAlgorithm):
    def initialize(self) -> None:
        self.set_start_date(2024, 9, 1)
        self.set_end_date(2024, 12, 31)
        self.set_cash(100000)
        self.set_brokerage_model(BrokerageName.CHARLES_SCHWAB, AccountType.MARGIN)
        symbol = self.add_equity("SPY", Resolution.DAILY).symbol
        self._fast = self.ema(symbol, 10, Resolution.DAILY)
        self._slow = self.ema(symbol, 50, Resolution.DAILY)

    def on_data(self, slice: Slice) -> None:
        if not self._slow.is_ready:
            return
        if self._fast.current.value > self._slow.current.value and not self.portfolio.invested:
            self.set_holdings("SPY", 1)
        elif self._fast.current.value < self._slow.current.value and self.portfolio.invested:
            self.liquidate()
```

## Deploy Live Algorithms

You must have an available [live trading node](https://www.quantconnect.com/docs/v2/cloud-platform/organizations/resources.md#04-Live-Trading-Nodes) for each live trading algorithm you deploy.

Follow these steps to deploy a live algorithm:

1. [Open the project](https://www.quantconnect.com/docs/v2/cloud-platform/projects/getting-started.md#02-View-All-Projects) you want to deploy.
2. Click the ![Lightning icon](https://cdn.quantconnect.com/i/tu/deploy-live-icon.png) **Deploy Live** icon.
3. On the Deploy Live page, click the **Brokerage** field and then click **Charles Schwab** from the drop-down menu.
4. Enter your user name (Charles Schwab Login ID) and press **Enter**.
5. Check the **Authorization** box and then click **Authenticate**.
6. Log in to the Charles Schwab website using the same ID. Select your Schwab accounts to link, then click **Allow** to authorize QuantConnect access.
7. Click on the **Select Account Id** field and then click on one of your accounts.
8. In the **Region** section, click the [region](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/getting-started.md#07-Redundancy) where you want to run the algorithm.
9. Click the **Node** field and then click the live trading node that you want to use from the drop-down menu.
10. (Optional) In the **Data Provider** section, click **Show** and change the data provider or add additional providers.
   In most cases, we suggest using the [QuantConnect data provider](https://www.quantconnect.com/docs/v2/cloud-platform/datasets.md), the [Charles Schwab data provider](https://www.quantconnect.com/docs/v2/cloud-platform/datasets/charles-schwab.md), or both. The order you set them in the deployment wizard defines their order of precedence in Lean.
11. (Optional) [Set up notifications](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/notifications.md).
12. Configure the **Automatically restart algorithm** setting.
   By enabling [automatic restarts](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/deployment.md#07-Automatic-Restarts), the algorithm will use best efforts to restart the algorithm if it fails due to a runtime error. This can help improve the algorithm's resilience to temporary outages such as a brokerage API disconnection.
13. Click **Deploy**.

The deployment process can take up to 5 minutes. When the algorithm deploys, the [live results page](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/results.md) displays. If you know your brokerage positions before you deployed, you can verify they have been loaded properly by checking your equity value in the runtime statistics, your cashbook holdings, and your position holdings.

Restarts, including automatic restarts and redeployments, don't save the state of your algorithm. To learn what a restart recovers and how to persist the rest, see [State Persistence](https://www.quantconnect.com/docs/v2/cloud-platform/live-trading/deployment.md#10-State-Persistence).

## Deployment Details

When you deploy a live algorithm with Charles Schwab, the brokerage shares some details of the deployment, like the account it trades. Use them to tell concurrent deployments apart or to check that the algorithm connected to the account you expect. The details never include credentials.

The following table describes the deployment details that Charles Schwab shares:

| Key | Description |
| --- | --- |
| `charles-schwab-account-number` | The Charles Schwab account that receives the orders. |

The `deployment_details` property of your algorithm is a read-only dictionary of the details. LEAN populates it before it calls the `initialize` method, so you can read it anywhere in your algorithm.

```python
deployment_details = [f'{kvp.key}:{kvp.value}' for kvp in self.deployment_details]
self.log(f'deployment_details: {deployment_details}')
```

The [/live/read](https://www.quantconnect.com/docs/v2/cloud-platform/api-reference/live-management/read-live-algorithm/live-algorithm-statistics.md) API endpoint also returns the details in its `deploymentDetails` field, so you can read them outside of the algorithm.

## Troubleshooting

The following table describes the errors that cause an order to be rejected when deploying to Charles Schwab:

| Error Message(s) | Possible Cause and Fix |
| --- | --- |
| Name = Account_Sys_0005,Description = No trades are currently allowed | Your account may not have the necessary permissions to place trades. Log into [schwab.com](https://schwab.com/), navigate to **Trade > Trading Platforms**, and click on Enable trading on thinkorswim. The permissions may take up to 48 hours to take effect. If the issue persists, contact Charles Schwab support. |
| Name = Order_Sys_0002,Description = The stop price must be above the current ask for buy stop orders and below the bid for sell stop orders. | The stop price is on the wrong side of the market. A buy stop must sit above the current ask and a sell stop must sit below the current bid; Schwab rejects the order when the market has already crossed the stop price (for example, a sell stop set at or above the current bid). This often happens when a stop is submitted with a stale price or right at the market. Compute the stop price from the current quote — reference the ask for buy stops and the bid for sell stops — so it always sits on the correct side of the market: `security = self.securities[symbol] # Buy stop above the ask, sell stop below the bid stop_price = security.ask_price * 1.001 if quantity > 0 else security.bid_price * 0.999 self.stop_market_order(symbol, quantity, stop_price)` |
| Name = Position_Sys_0001,Description = This order may result in an oversold/overbought position in your account. Please check your position quantity and/or open orders. | Schwab thinks the order quantity plus your existing open orders exceeds your current position (oversold) or buying power (overbought). It commonly appears when you call `Liquidate`/`liquidate`, which cancels your open orders and submits a market order to close the position at the same time. Because Schwab hasn't confirmed the cancellation yet, it still counts the resting order and sees the closing order as doubling your exposure. For example, on a short of 82 shares, `liquidate` cancels a resting buy-82 stop (still **CancelPending**) and submits a new market buy-82 to cover, so Schwab sees 164 shares of buying against an 82-share short and flags the order as overbought by 82. Cancel the open orders first, give Schwab about one minute to process the cancellations, and then liquidate: `all_cancelled_orders = self.transactions.cancel_open_orders() # Wait ~1 minute for Schwab to process the cancellations, then: self.liquidate()` |

Charles Schwab may also return the following warnings alongside an error. They don't reject the order on their own, so when you see one, check the accompanying error above for the actual cause:

| Warning Message(s) | Meaning |
| --- | --- |
| Name = Easy_To_Borrow_GTC,Description = This security is currently easy to borrow, good until canceled orders may be subjected to changes in status to hard to borrow resulting in your order being canceled. | The security is easy to borrow now, but a good-until-canceled short order may be canceled later if it becomes hard to borrow. |
| Name = ETB_WARNING,Description = Please note: although this security is considered easy to borrow at this time, conditions may change including share availability and possible fees associated with hard to borrow securities. | The security is easy to borrow now, but share availability and borrow fees may change. |
| Name = PRICES_CAN_CHANGE_QUICKLY,Description = With market orders, prices can change quickly in fast market conditions resulting in execution prices that can be different from the quotes displayed at order entry. | In fast markets, a market order may fill at a price different from the quote shown when the order was entered. |
| Name = SCHW_DO0989,Description = Please note that when a Stop order triggers it becomes a Market order. Because of this and depending on market conditions, this order may execute at a price significantly different than the Stop price. | When a stop order triggers it becomes a market order, so it may fill at a price significantly different from the stop price. |
| Name = STOP_ORDERS_NO_GUARANTEE,Description = With stop orders, there is no guarantee that the execution price will be equal to or near the activation price. | A stop order is not guaranteed to fill at or near its activation price. |

If you need further support, [open a new support ticker](https://www.quantconnect.com/docs/v2/cloud-platform/organizations/support.md#06-Open-New-Tickets) and add the live deployment with the error.