Is Charles Schwab better than E*TRADE? After testing 11 of the best online brokers over three months, Charles Schwab (95.87%) is better than E*TRADE (94.28%). With more than $6 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.
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Charles Schwab vs E*TRADE 2021
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Overall Rating
| Feature | Charles Schwab | E*TRADE |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Charles Schwab Review | E*TRADE Review | |
| Winner | check_circle |
Trading Fees
| Feature | Charles Schwab | E*TRADE |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Mutual Fund Trade Fee | $49.95 | $19.99 |
| Options (Base Fee) | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.65 |
| Futures (Per Contract) | $1.50 | $1.50 |
| Broker Assisted Trades Fee | $25.00 | $25.00 |
Margin Rates
| Feature | Charles Schwab | E*TRADE |
| Under $24,999.99 | 8.33% | 8.95% |
| $25,000.00 to $49,999.99 | 7.83% | 8.45% |
| $50,000.00 to $99,999.99 | 6.88% | 7.95% |
| $100,000.00 to $249,999.99 | 6.83% | 7.45% |
| $250,000.00 to $499,999.99 | 6.58% | 6.95% |
| $500,000.00 to $999,999.99 | 5.08% | 6.45% |
| Above $1,000,000.00 | 4.70% | 5.45% |
Account Fees
| Feature | Charles Schwab | E*TRADE |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $50.00 | $60.00 |
| Account Transfer Out (Partial) | $25.00 | $25.00 |
| Account Transfer Out (Full) | $50.00 | $75.00 |
| Returned ACH Fee | $25.00 | $0.00 |
| Returned Wire Fee | $25.00 | $0.00 |
| Stock Certificate Processing Fee | $100.00 | $0.00 |
| Stock Certificate Delivery Fee | N/A | $75.00 |
| Paper Statement Fee | $0.00 | $2.00 |
| Paper Confirmation Fee | $0.00 | $0.00 |
| Domestic Wire Fee | $25.00 | $25.00 |
| International Wire Fee | $25.00 | $25.00 |
Investment Options
| Feature | Charles Schwab | E*TRADE |
|
Stock Trading |
Yes | Yes |
|
Fractional Shares |
Yes | No |
|
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 |
|
Mutual Funds (No Load) |
7223 | 6584 |
|
Mutual Funds (Total) |
9860 | 9087 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
Yes | Yes |
|
International Trading |
Yes | No |
|
AI Assistant Bot |
Yes | No |
Order Types
| Feature | Charles Schwab | E*TRADE |
|
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 | No |
|
Order Type - OCO |
Yes | Yes |
|
Order Type - OTO |
Yes | Yes |
|
Order Type - OTOCO |
Yes | Yes |
Trading Platforms
| Feature | Charles Schwab | E*TRADE |
|
Desktop Platform (Windows) |
Yes | No |
|
Desktop Platform (Mac) |
Yes | No |
|
Web Platform |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Trade Journal |
Yes | No |
|
Heat Mapping |
Yes | No |
|
Watch Lists - Total Fields |
130 | 95 |
Charting Features
| Feature | Charles Schwab | E*TRADE |
|
Charting - Trade Off Chart |
Yes | Yes |
|
Charting - Indicators / Studies |
41 | 119 |
|
Charting - Drawing Tools |
15 | 31 |
|
Charting - Historical Trades |
No | Yes |
|
Charting - Corporate Events |
Yes | Yes |
|
Charting - Automated Analysis |
Yes | Yes |
|
Charting - Save Profiles |
Yes | Yes |
|
Trade Ideas - Technical Analysis |
Yes | Yes |
|
Charting - Study Customizations |
7 | 6 |
|
Charting - Custom Studies |
No | No |
Day Trading
| Feature | Charles Schwab | E*TRADE |
|
Stock Alerts - Basic Fields |
Yes | Yes |
|
Stock Alerts - Advanced Fields |
Yes | No |
|
Streaming Time & Sales |
Yes | Yes |
|
Streaming TV |
Yes | Yes |
|
Direct Market Routing - Stocks |
Yes | Yes |
|
Direct Market Routing - Options |
No | Yes |
|
Ladder Trading |
No | No |
|
Trade Hot Keys |
Yes | Yes |
|
Level 2 Quotes - Stocks |
Yes | Yes |
|
Level 2 Quotes - Options |
Yes | Yes |
|
Trade Ideas - Backtesting |
Yes | No |
|
Short Locator |
No | No |
|
Order Liquidity Rebates |
No | No |
Mobile Trading Apps
| Feature | Charles Schwab | E*TRADE |
|
iPhone App |
Yes | Yes |
|
Android App |
Yes | Yes |
|
Apple Watch App |
Yes | Yes |
|
Trading - Stocks |
Yes | Yes |
|
Trading - After-Hours |
Yes | Yes |
|
Trading - Conditional Orders |
No | Yes |
|
Trading - Mutual Funds |
Yes | Yes |
|
Trading - Simple Options |
Yes | Yes |
|
Trading - Complex Options |
Yes | Yes |
|
Trading - Option Rolling |
No | No |
|
Touch / Face ID |
Yes | Yes |
| Mobile Trading |
Mobile App Features
| Feature | Charles Schwab | E*TRADE |
|
Watch List Syncing |
Yes | Yes |
|
Stock Alerts |
No | Yes |
|
Charting - After Hours |
No | Yes |
|
Charting - Drawing |
No | No |
|
Charting - Study Customizations |
Yes | Yes |
|
Heatmapping |
Yes | No |
|
Stream Live TV |
Yes | Yes |
|
Barcode Lookup |
No | Yes |
| Mobile Trading |
Research Overview
| Feature | Charles Schwab | E*TRADE |
|
Research - Stocks |
Yes | Yes |
|
Research - ETFs |
Yes | Yes |
|
Research - Mutual Funds |
Yes | Yes |
|
Research - Pink Sheets / OTCBB |
Yes | Yes |
|
Research - Fixed Income |
Yes | Yes |
|
Screener - Stocks |
Yes | Yes |
|
Screener - ETFs |
Yes | Yes |
|
Screener - Mutual Funds |
Yes | Yes |
|
Screener - Options |
Yes | Yes |
|
Screener - Bonds |
Yes | Yes |
|
Misc - Portfolio Builder |
Yes | Yes |
|
Misc - Portfolio Allocation |
Yes | Yes |
Stock Research
| Feature | Charles Schwab | E*TRADE |
|
Stock Research - Reports |
8 | 5 |
|
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 | Yes |
|
Stock Research - Balance Sheet |
Yes | Yes |
|
Stock Research - Cash Flows |
Yes | Yes |
|
Stock Research - News |
Yes | Yes |
|
Stock Research - ESG |
No | No |
ETF Research
| Feature | Charles Schwab | E*TRADE |
|
ETFs - Strategy Overview |
Yes | Yes |
|
ETFs - Top 10 Holdings |
Yes | Yes |
|
ETFs - Sector Exposure |
Yes | Yes |
|
ETFs - Risk Analysis |
Yes | Yes |
|
ETFs - Performance Analysis |
Yes | Yes |
|
ETFs - Ratings |
Yes | Yes |
|
ETFs - Morningstar StyleMap |
Yes | Yes |
|
ETFs - Reports |
Yes | Yes |
Mutual Fund Research
| Feature | Charles Schwab | E*TRADE |
|
Mutual Funds - Strategy Overview |
Yes | Yes |
|
Mutual Funds - Prospectus |
Yes | Yes |
|
Mutual Funds - Reports |
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 |
|
Mutual Funds - 3rd Party Ratings |
Yes | Yes |
Options Trading
| Feature | Charles Schwab | E*TRADE |
|
Option Chains - Streaming |
Yes | Yes |
|
Option Chains - Total Columns |
44 | 30 |
|
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 - Adv Analysis |
Yes | Yes |
|
Option Positions - Rolling |
Yes | Yes |
|
Option Positions - Grouping |
Yes | Yes |
Beginners
| Feature | Charles Schwab | E*TRADE |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
Yes | Yes |
|
Education (Options) |
Yes | Yes |
|
Education (Mutual Funds) |
Yes | Yes |
|
Education (Fixed Income) |
Yes | Yes |
|
Education (Retirement) |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Videos |
Yes | Yes |
|
Webinars (Monthly Avg) |
100 | 25 |
|
Webinars (Archived) |
Yes | Yes |
|
Live Seminars |
Yes | Yes |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | Yes |
Banking
| Feature | Charles Schwab | E*TRADE |
|
Retail Locations |
360 | 30 |
|
Member FDIC |
Yes | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
Yes | Yes |
|
Credit Cards |
Yes | Yes |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
Yes | Yes |
|
No Fee Banking |
Yes | No |
Overall
| Feature | Charles Schwab | E*TRADE |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Charles Schwab Review | E*TRADE Review | |
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare Charles Schwab vs E*TRADE.
Is Charles Schwab or E*TRADE better for beginners?
Charles Schwab is better for beginner investors than E*TRADE. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).
What about Charles Schwab vs E*TRADE pricing?
Charles Schwab and E*TRADE both cost $0 per trade. With options, the base fee is $0 for both Charles Schwab and E*TRADE. Option contracts cost $0.65 each at both brokerages. For a complete commissions summary, see our best discount brokers guide.
Does Charles Schwab or E*TRADE offer a wider range of investment options?
Charles Schwab offers a more diverse selection of investment options than E*TRADE. Charles Schwab offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Advisor Services and International Trading. Looking at Mutual Funds, E*TRADE trails Charles Schwab by 773 total mutual funds, with Charles Schwab offering 9860 and E*TRADE offering 9087.
Which trading platform is better: Charles Schwab or E*TRADE?
To compare the trading platforms of both Charles Schwab and E*TRADE, 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. Both Charles Schwab and E*TRADE offer Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall winner: Charles Schwab
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All pricing data was obtained from a published web site as of 01/19/2021 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.
