The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Charles Schwab vs ChoiceTrade. Is Charles Schwab or ChoiceTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab charges $4.95 per stock trade which is $4.95 more than ChoiceTrade which charges customers $0 per trade. Looking at trading options, Charles Schwab's base fee is $4.95 while ChoiceTrade's is $5.00. Each option contract then costs $0.65 at Charles Schwab and $0.15 at ChoiceTrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. ChoiceTrade offers clients Stock Trading and Options Trading while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, ChoiceTrade trails Charles Schwab by 5,846 total mutual funds, with Charles Schwab offering 5846 and ChoiceTrade offering 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade offers virtual trading while Charles Schwab does not. For mobile trading, ChoiceTrade supports the iPhone App and Android App while Charles Schwab supports the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while ChoiceTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab along with ChoiceTrade both finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between Charles Schwab and ChoiceTrade, Charles Schwab is the winner
Charles Schwab Review