Is E*TRADE better than Charles Schwab? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than Charles Schwab (89.63%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.
| Overall Rating | E*TRADE | Charles Schwab |
|---|---|---|
| Overall | ||
| Commissions & Fees | ||
| Investment Options | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Customer Service | ||
| Education | ||
| Ease Of Use | ||
| Winner | check_circle | |
| Review | E*TRADE Review | Charles Schwab Review |
| Trading Fees | E*TRADE | Charles Schwab |
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Mutual Fund Trade Fee | $19.99 | $49.95 |
| 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 | $25.00 | $25.00 |
| Margin Rates | E*TRADE | Charles Schwab |
|---|---|---|
| Margin Rate Under $24,999.99 | 8.95% | 8.33% |
| Margin Rate $25,000.00 to $49,999.99 | 8.45% | 7.83% |
| Margin Rate $50,000.00 to $99,999.99 | 7.95% | 6.88% |
| Margin Rate $100,000.00 to $249,999.99 | 7.45% | 6.83% |
| Margin Rate $250,000.00 to $499,999.99 | 6.95% | 6.58% |
| Margin Rate $500,000.00 to $999,999.99 | 6.45% | 5.08% |
| Margin Rate Above $1,000,000.00 | 5.45% | 4.75% |
| Account Fees | E*TRADE | Charles 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 Options | E*TRADE | Charles Schwab |
|---|---|---|
| Stock 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 | 7537 |
| Mutual Funds (Total) | 7242 | 10228 |
| Bonds (US Treasury) | Yes | Yes |
| Bonds (Corporate) | Yes | Yes |
| Bonds (Municipal) | Yes | Yes |
| Advisor Services | Yes | Yes |
| International Countries (Stocks) | 0 | 28 |
| Order Types | E*TRADE | Charles 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 |
| Beginners | E*TRADE | Charles Schwab |
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | Yes |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | Yes |
| Education (Bonds) | Yes | Yes |
| Education (Retirement) | Yes | Yes |
| Retirement Calculator | Yes | Yes |
| Investor Dictionary | Yes | Yes |
| Paper Trading | Yes | No |
| Videos | Yes | Yes |
| Webinars (Archived) | Yes | Yes |
| Progress Tracking | No | No |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | E*TRADE | Charles 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 Features | E*TRADE | Charles 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 Charting | E*TRADE | Charles 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 Platforms | E*TRADE | Charles Schwab |
|---|---|---|
| Desktop Trading Platform | No | Yes |
| Web Trading Platform | Yes | Yes |
| Paper Trading | Yes | No |
| Trade Journal | No | Yes |
| Watch Lists - Total Fields | 95 | 130 |
| Stock Chart Features | E*TRADE | Charles 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 Trading | E*TRADE | Charles 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 Overview | E*TRADE | Charles 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 Research | E*TRADE | Charles Schwab |
|---|---|---|
| Stock Research - PDF Reports | 6 | 8 |
| Stock Research - Earnings | Yes | Yes |
| Stock Research - Insiders | Yes | Yes |
| Stock Research - Social | Yes | Yes |
| Stock Research - News | Yes | Yes |
| Stock Research - ESG | No | No |
| Stock Research - SEC Filings | Yes | Yes |
| ETF Research | E*TRADE | Charles 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 Research | E*TRADE | Charles 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 Trading | E*TRADE | Charles 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 |
| Banking | E*TRADE | Charles 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 Service | E*TRADE | Charles Schwab |
|---|---|---|
| Phone Support (Prospect Customers) | Yes | Yes |
| Phone Support (Current Customers) | Yes | Yes |
| Email Support | Yes | Yes |
| Live Chat (Prospect Customers) | Yes | No |
| Live Chat (Current Customers) | Yes | Yes |
| 24/7 Support | Yes | Yes |
| Overall | E*TRADE | Charles Schwab |
|---|---|---|
| Overall | ||
| Commissions & Fees | ||
| Investment Options | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease Of Use |
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare E*TRADE vs Charles Schwab.
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 (Mutual Funds), Education (Bonds) and Education (Retirement).
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.
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, Charles Schwab trails E*TRADE in its offering of no transaction fee (NTF) mutual funds, with E*TRADE offering 4377 and Charles Schwab offering 4294.
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.
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.
Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.
With nearly $8 trillion in client assets, Charles Schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services.
Overall winner: E*TRADE
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