Schwab Adds 65 ETFs to Fee-Free Platform

The company says that investors can trade ETFs on its OneSource platform without fees. However, trades placed through a financial advisor have a fee of $25, while those placed by phone cost $5.

This summer Schwab released an ETF investor study, which found that 85% of investors believe that the ability to trade ETFs without commissions is important. Close to 70% say that having the "right selection of ETFs" matters most, while almost 60% indicate that having ETFs in the broadest number of asset categories is important.

"Investors are looking across asset categories and index weightings for new ideas to build highly diversified portfolios in a cost effective way," Fischer said. "We're very excited to be able to give clients who want to eliminate commission costs a choice of ETFs that are unrivaled in breadth and depth across Morningstar ETF Categories."

Schwab's study also found that roughly 70% of investors are looking for ETFs with no hidden fees. In addition, 46% say they would not buy a commission-free ETF if they knew they had to pay a fee for selling the ETF too early.