USAA Investments Has Been Discontinued
UPDATE: USAA Investments has been incorporated into
Charles Schwab and discontinued. See Charles Schwab Review instead.
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USAA Investments Review
USAA’s investing setup looks very different today than it did in the past. The company still offers investing and retirement guidance, but brokerage and wealth-management services are now routed through strategic providers instead of being run as a traditional stand-alone USAA brokerage platform.
USAA Investment Services Company remains active, but its role is now much narrower. Rather than directly maintaining brokerage accounts or offering its own investment lineup, it focuses on retirement-related advice and referral services, mainly connecting investors with Charles Schwab.
USAA Investments Commissions and Minimum Requirements
Through USAA’s Schwab relationship, online listed stock and ETF trades come with
$0 commissions, which is in line with other major discount brokers. Schwab also has
$0 account minimums and
$0 account maintenance fees for standard brokerage accounts.
Options trading through Schwab carries the standard
$0.65 per-contract fee. Pricing on other products varies depending on what is being traded, and some items such as transaction-fee mutual funds or certain Treasury auction purchases can still involve separate charges.
Mutual fund pricing is no longer based on the old USAA brokerage schedule. Through Schwab, investors can access
4,000 no-load mutual funds with no transaction fees, while transaction-fee mutual funds can cost
up to $74.95 per purchase. USAA’s former mutual-fund family is no longer operated under the old USAA Investments structure.
There is no minimum deposit to open a Schwab brokerage account through the current USAA referral setup. For mutual funds outside a brokerage account, minimums depend on the fund sponsor and the specific product selected.
USAA Investments Trading Tools and Research Review
USAA no longer operates the kind of direct in-house brokerage platform described in older reviews. Instead, brokerage customers are referred to Schwab, where they can use Schwab’s research and trading tools, while still linking those Schwab accounts to USAA for account viewing.
USAA members can still view linked Schwab accounts through the USAA Mobile App or on usaa.com, which helps keep their financial picture in one place even though the brokerage relationship itself is now handled elsewhere.
The current mobile setup is more about account access and linked-account visibility than a full stand-alone USAA trading experience. Investors who want to place trades and use deeper brokerage tools are primarily working through Schwab’s platforms.
USAA Brokerage Education and In-Person Guidance Services
USAA still offers investing education and advice resources, and its current investing pages continue to highlight brokerage and trading, IRAs, mutual funds, 529 plans, and general investing education. In addition, financial planning and wealth-management services are offered through Charles Schwab.
While USAA does provide education and retirement-related guidance, the company no longer runs the broader in-house brokerage setup that older reviews described.
USAA also maintains Financial Centers in multiple states. According to its current support pages, these locations provide access to more than 150 insurance, banking, and retirement services and products.
USAA Brokerage Account Pros
- No standard account minimums through Schwab brokerage accounts
- $0 online commissions for listed stocks and ETFs
- Access to 2,000+ commission-free ETFs and 4,000 no-load mutual funds with no transaction fees
- Financial planning, retirement guidance, and linked-account access through USAA and Schwab
- Strong overall banking and insurance ecosystem for the military community
USAA Brokerage Account Cons
- Brokerage and wealth management are no longer handled directly by a traditional in-house USAA platform
- Advanced trading tools are primarily provided by Schwab, not USAA itself
- Some legacy USAA investing information online is outdated
- The former USAA mutual fund brand no longer exists under its old name
USAA Investments Review Summary
USAA’s investing setup is no longer built around the old stand-alone brokerage model. Today, the company mainly provides financial guidance and referrals, while Charles Schwab handles brokerage and wealth-management services for referred investors.
Another current strength is the broader investment menu available through Schwab, including commission-free online stock and ETF trades, no account minimums, and a large fund lineup. USAA also still offers retirement-focused guidance and access to linked financial accounts.
On the downside, the old USAA brokerage experience described in many legacy reviews no longer exists in the same form. Investors looking for a direct trading platform, product pricing, and research tools are really evaluating Schwab’s setup rather than a separate USAA brokerage business.
In the end, USAA investing services still have value, but they now function mainly as an advice-and-referral channel rather than as the old full-service brokerage operation.
Updated on 4/14/2026.
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