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E*TRADE vs Charles Schwab 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is E*TRADE better than Charles Schwab? After testing 17 of the best online brokers over three months, E*TRADE (96.39%) is better than Charles Schwab (94.51%). E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

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Overall RatingE*TRADECharles Schwab
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4.0/5 Stars 4.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review E*TRADE Review Charles Schwab Review
Trading FeesE*TRADECharles Schwab
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $6.95 $6.95
Mutual Fund Trade Fee $0.00 Varies
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $1.50 $2.25
Broker Assisted Trade Fee $25 $25
Margin RatesE*TRADECharles Schwab
Margin Rate Under $25,000 11.95% 11.33%
Margin Rate $25,000 to $49,999.99 11.45% 10.83%
Margin Rate $50,000 to $99,999.99 10.95% 9.88%
Margin Rate $100,000 to $249,999.99 10.45% 9.83%
Margin Rate $250,000 to $499,999.99 9.95% 9.58%
Margin Rate $500,000 to $999,999.99 9.45% 7.83%
Margin Rate Above $1,000,000 8.45% 7.50%
Account FeesE*TRADECharles Schwab
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $25.00 $25.00
Account Transfer Out (Full) $75.00 $50.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsE*TRADECharles Schwab
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes Yes
Forex Trading No No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 6486 14996
Mutual Funds (Total) 7242 17912
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 0 12
Order TypesE*TRADECharles Schwab
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersE*TRADECharles Schwab
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes Yes No
Stock Trading AppsE*TRADECharles Schwab
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes No
Stock App FeaturesE*TRADECharles Schwab
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes Yes
Videos on Demand No Yes
Stock Alerts Yes No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes No
Watch Lists - Total Fields 95 130
Stock App ChartingE*TRADECharles Schwab
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 10 32
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsE*TRADECharles Schwab
Active Trading Platform Power E*TRADE StreetSmart Edge
Desktop Trading Platform No Yes
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal No Yes
Watch Lists - Total Fields 95 130
Stock Chart FeaturesE*TRADECharles Schwab
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 119 41
Charting - Drawing Tools 31 15
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes No
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars No Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 6 7
Charting - Custom Studies No No
Day TradingE*TRADECharles Schwab
Streaming Time & Sales Yes Yes
Streaming TV Yes Yes
Direct Market Routing - Stocks Yes Yes
Ladder Trading No No
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting No Yes
Trade Ideas - Backtesting Adv No No
Short Locator No Yes
Order Liquidity Rebates No No
Research OverviewE*TRADECharles Schwab
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock ResearchE*TRADECharles Schwab
Stock Research - PDF Reports 6 7
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes Yes
Stock Research - News Yes Yes
Stock Research - ESG No Yes
Stock Research - SEC Filings Yes Yes
ETF ResearchE*TRADECharles Schwab
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes Yes
ETFs - PDF Reports Yes Yes
Mutual Fund ResearchE*TRADECharles Schwab
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart No Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings Yes Yes
Mutual Funds - Fees Breakdown Yes Yes
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes Yes
Mutual Funds - Sector Allocation Yes Yes
Mutual Funds - Country Allocation Yes Yes
Mutual Funds - StyleMap Yes Yes
Options TradingE*TRADECharles Schwab
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 31 44
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingE*TRADECharles Schwab
Bank (Member FDIC) Yes Yes
Checking Accounts Yes Yes
Savings Accounts Yes Yes
Credit Cards Yes Yes
Debit Cards Yes Yes
Mortgage Loans Yes Yes
Customer ServiceE*TRADECharles Schwab
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallE*TRADECharles Schwab
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review E*TRADE Review Charles Schwab Review
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E*TRADE vs Charles Schwab Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare E*TRADE vs Charles Schwab.

Is E*TRADE or Charles Schwab better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than Charles Schwab. E*TRADE offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement).

What about E*TRADE vs Charles Schwab pricing?

E*TRADE and Charles Schwab charge the same amount for regular stock trades, $0.00. E*TRADE and Charles Schwab both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

Does E*TRADE or Charles Schwab offer a wider range of investment options?

E*TRADE offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, neither have Forex Trading. Looking at Mutual Funds, E*TRADE trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and E*TRADE offering 4377.

Which trading platform is better: E*TRADE or Charles Schwab?

To compare the trading platforms of E*TRADE and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found E*TRADE to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to customers of E*TRADE and Charles Schwab.

Is E*TRADE good?

E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

Is Charles Schwab good?

As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

E*TRADE vs Charles Schwab Winner

Overall winner: E*TRADE

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