E*TRADE vs Charles Schwab Review
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Charles Schwab better than E*TRADE? Based on over 4,000 data points from our 2019 annual broker review, Charles Schwab (84.06%) is better than E*TRADE (83.68%). For those seeking access to low costs, excellent research, quality trade tools, and professional planning for the future, Charles Schwab will not disappoint.
First, we will make a comparison of the stock and option trading fees for trading with both brokers. E*TRADE, with its regular stock trades costing $6.95, is more expensive than Charles Schwab's rate of $4.95 per trade. For options trading, E*TRADE has a base fee of $6.95, and Charles Schwab a base fee of $4.95. Each option contract then costs $0.75 at E*TRADE and $0.65 at Charles Schwab. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. Charles Schwab alongside E*TRADE offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Charles Schwab trails E*TRADE by 3,216 total mutual funds, with E*TRADE offering 9062 and Charles Schwab offering 5846.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Charles Schwab nor E*TRADE offers virtual trading. For mobile trading, Charles Schwab and E*TRADE both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are offered by E*TRADE while Charles Schwab offers 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
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.