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Charles Schwab vs ChoiceTrade 2019

Is ChoiceTrade better than Charles Schwab? After scoring brokers in nine separate categories for our 2019 review, Charles Schwab (84.06%) is better than ChoiceTrade (45.72%).

Charles Schwab

Best for IRA accounts - Open Account
Special Offer: $0 online stock, ETF, and options commissions at Schwab.

For investors seeking access to $0 stock and ETF trades alongside excellent research tools for performing market analysis, Charles Schwab will not disappoint. Charles Schwab is also our number one pick for IRA accounts and broader retirement investing. Read full review

ChoiceTrade

$0 Trades
Founded in 2000, ChoiceTrade is an online broker that advertises unlimited free stock trades. Unfortunately, overall, ChoiceTrade provides customers a terrible all-around online investing experience not worth the hassle. Read full review.

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) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.40
Mutual Fund Trade Fee $49.95 N/A
Broker Assisted Trades Fee $25.00 $30.00
Commissions & Fees 4.5 3.5
Winner check_circle

Margin Rates

Feature Charles Schwab
Open Account
ChoiceTrade
Under $24,999.99 9.33% 8.25%
$25,000.00 to $49,999.99 8.83% 8.25%
$50,000.00 to $99,999.99 7.88% 8.25%
$100,000.00 to $249,999.99 7.83% 8.25%
$250,000.00 to $499,999.99 7.58% 8.25%
$500,000.00 to $999,999.99 6.08% 8.25%
Above $1,000,000.00 5.75% 8.25%
Commissions & Fees 4.5 3.5
Winner check_circle

Account Fees

Feature Charles Schwab ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $50.00 $50.00
Returned ACH Fee $25.00 $40.00
Returned Wire Fee $25.00 $40.00
Stock Certificate Processing Fee $100.00 N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $0.00 $5.00
Paper Confirmation Fee $0.00 $1.00
Domestic Wire Fee $25.00 $35.00
International Wire Fee $25.00 $60.00
Commissions & Fees 4.5 3.5

Investment Options

Feature Charles Schwab ChoiceTrade
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 0
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs all 0
Mutual Funds (No Load)
7291 0
Mutual Funds (Total)
9978 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

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
125 4
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
7 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
Order Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

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
Winner check_circle

Mobile App Features

Feature Charles Schwab ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes 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
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

ETF 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
Research 5 1.5
Winner check_circle

Mutual Fund Research

Feature Charles Schwab ChoiceTrade
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
44 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

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

Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Charles Schwab vs ChoiceTrade to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Charles Schwab and ChoiceTrade charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Charles Schwab and ChoiceTrade. ChoiceTrade's per contract rate of $0.40 is less than Charles Schwab which charges $0.65. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. ChoiceTrade supports Stock Trading and Options Trading while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Charles Schwab boasts an offering of 5846 mutual funds compared to ChoiceTrade's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. ChoiceTrade has virtual trading, Charles Schwab doesn't. For mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while Charles Schwab has an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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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