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Charles Schwab vs E*TRADE 2020

Is Charles Schwab better than E*TRADE? After testing 15 of the best online brokers over five months, Charles Schwab (93.11%) is better than E*TRADE (91.53%). Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $0 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future.

Special Offer $0 online stock, ETF, and options commissions at Schwab. Open Account
Promo Offer Get $100 when you deposit just $5,000 into a new E*TRADE account! Open Account
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Overall Rating

Trading Fees

Feature Charles Schwab E*TRADE
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 $0.65
Mutual Fund Trade Fee $49.95 $19.99
Broker Assisted Trades Fee $25.00 $25.00
Commissions & Fees 4.5 4.5
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Margin Rates

Feature Charles Schwab E*TRADE
Under $24,999.99 9.33% 10.00%
$25,000.00 to $49,999.99 8.83% 9.75%
$50,000.00 to $99,999.99 7.88% 9.25%
$100,000.00 to $249,999.99 7.83% 8.75%
$250,000.00 to $499,999.99 7.58% 8.25%
$500,000.00 to $999,999.99 6.08% 7.75%
Above $1,000,000.00 5.75% 6.75%
Commissions & Fees 4.5 4.5
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Account Fees

Feature Charles Schwab E*TRADE
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $50.00 $60.00
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
Commissions & Fees 4.5 4.5

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
Commission-Free ETFs all all
Mutual Funds (No Load)
7291 6663
Mutual Funds (Total)
9978 9291
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
No No
Advisor Services
Yes Yes
International Trading
Yes No
Offering of Investments 4.5 4.5
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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
Offering of Investments 4.5 4.5
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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
Watch Lists - Total Fields
125 125
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 4.5 4.5
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Charting Features

Feature Charles Schwab E*TRADE
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
41 119
Charting - Drawing Tools
15 32
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
7 6
Charting - Custom Studies
No No
Platforms & Tools 4.5 4.5
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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
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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
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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 4 5
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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
Research 5 4.5
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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
Research 5 4.5
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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
Research 5 4.5
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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
Research 5 4.5
Winner check_circle

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
Platforms & Tools 4.5 4.5
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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)
50 12
Webinars (Archived)
Yes Yes
Live Seminars
Yes Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No Yes
Investor Magazine
Yes No
Education 4.5 4
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Banking

Feature Charles Schwab E*TRADE
Retail Locations
357 30
Member FDIC
Yes Yes
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes No
Debit Cards
Yes Yes
Mortgage Loans
Yes No
No Fee Banking
Yes No
Banking 4.5 4
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Overall

Feature Charles Schwab E*TRADE
Charles Schwab Review E*TRADE Review
Overall 4.5 4.5
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Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Charles Schwab vs E*TRADE.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Charles Schwab and E*TRADE charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Charles Schwab and E*TRADE. Option contracts at both of the brokerages are the same at $0.65 each. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. Charles Schwab alongside E*TRADE offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Charles Schwab boasts an offering of 9978 mutual funds compared to E*TRADE's 9291 available funds.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. E*TRADE has virtual trading, Charles Schwab doesn't. Taking a look at mobile trading, Charles Schwab and E*TRADE both have a iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts and Debit Cards at E*TRADE while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall, between Charles Schwab and E*TRADE, Charles Schwab is the winner.

Charles Schwab Review
E*TRADE Review



All pricing data was obtained from a published web site as of 01/20/2020 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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