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Charles Schwab vs ChoiceTrade 2019

Blain Reinkensmeyer

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Charles Schwab better than ChoiceTrade? Based on over 4,000 data points from our 2019 annual broker review, Charles Schwab (84.06%) is better than ChoiceTrade (45.72%). For those seeking access to low costs, excellent research, quality trade tools, and professional planning for the future, Charles Schwab will not disappoint.

Special Offer $4.95 online equity trades + $0.65 per options contract Open Account
Open Account

Overall Rating

Feature Charles Schwab ChoiceTrade
Overall 4 2.5
Charles Schwab Review ChoiceTrade Review

Trading Fees

Feature Charles Schwab ChoiceTrade
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $4.95 $0.00
Options Base Fee $4.95 $5.00
Options Per Contract Fee $0.65 $0.15
Mutual Fund Trade Fee $49.95 N/A
Broker Assisted Trades Fee $25.00 $30.00
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $50.00 $50.00
Commissions & Fees 3.5 3.5
Winner check_circle

Margin Rates

Feature Charles Schwab ChoiceTrade
Under $24,999.99 9.58% 8.25%
$25,000.00 to $49,999.99 9.08% 8.25%
$50,000.00 to $99,999.99 8.13% 8.25%
$100,000.00 to $249,999.99 8.08% 8.25%
$250,000.00 to $499,999.99 7.83% 8.25%
$500,000.00 to $999,999.99 6.58% 8.25%
Above $1,000,000.00 6.25% 8.25%
Commissions & Fees 3.5 3.5
Winner check_circle

Trading Platforms

Feature Charles Schwab ChoiceTrade
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
Yes No
Watch Lists - Total Fields
108 4
Two-Factor Authentication Login
Yes No
Heat Mapping
Yes No
Platforms & Tools 4.5 2
Winner check_circle

Charting Features

Feature Charles Schwab ChoiceTrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
41 20
Charting - Drawing Tools
15 0
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes No
Charting - Study Customizations
6 1
Charting - Custom Studies
No No
Platforms & Tools 4.5 2
Winner check_circle

Day Trading

Feature Charles Schwab ChoiceTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes No
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading

Feature Charles Schwab ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4 2
Winner check_circle

Research Overview

Feature Charles Schwab ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Research - Futures
Yes No
Research - Forex
No No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No
Research 5 1.5
Winner check_circle

Stock Research

Feature Charles Schwab ChoiceTrade
Stock Research - Reports
8 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 5 1.5
Winner check_circle

Fund Research

Feature Charles Schwab ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 5 1.5
Winner check_circle

Options Trading

Feature Charles Schwab ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
41 11
Option Chains - Greeks
5 1
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 2
Winner check_circle

Investments

Feature Charles Schwab ChoiceTrade
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 503 0
Mutual Funds (No Load)
5846 0
Mutual Funds (Total)
5846 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
Yes No
Offering of Investments 4.5 2
Winner check_circle

Order Types

Feature Charles Schwab ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 2
Winner check_circle

Beginners

Feature Charles Schwab ChoiceTrade
Has Education - Stocks
Yes No
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has Education - Retirement
Yes No
Paper Trading
No Yes
Videos
Yes No
Webinars (Monthly Avg)
50 0
Webinars (Archived)
Yes No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 4.5 1
Winner check_circle

Banking

Feature Charles Schwab ChoiceTrade
Retail Locations
357 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No
Banking 4.5 0.5
Winner check_circle

Overall

Feature Charles Schwab ChoiceTrade
Charles Schwab Review ChoiceTrade Review
Overall 4 2.5
Winner check_circle
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. For options trading, ChoiceTrade has a base fee of $5.00, and Charles Schwab a base fee of $4.95. 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 provides its clients with Stock Trading and Options Trading while Charles Schwab provides clients access to 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 available to clients of Charles Schwab while ChoiceTrade offers customers none of these.

Overall, between Charles Schwab and ChoiceTrade, Charles Schwab is the winner.

Charles Schwab Review
ChoiceTrade Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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