Is Charles Schwab better than E*TRADE? 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.
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E*TRADE vs Charles Schwab 2022
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Overall Rating
| Feature | E*TRADE | Charles Schwab |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| E*TRADE Review | Charles Schwab Review | |
| Winner | check_circle |
Trading Fees
| Feature | E*TRADE | Charles Schwab |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| ETF Trade Fee | $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
| Feature | E*TRADE | Charles Schwab |
| Under $24,999.99 | 8.95% | 8.33% |
| $25,000.00 to $49,999.99 | 8.45% | 7.83% |
| $50,000.00 to $99,999.99 | 7.95% | 6.88% |
| $100,000.00 to $249,999.99 | 7.45% | 6.83% |
| $250,000.00 to $499,999.99 | 6.95% | 6.58% |
| $500,000.00 to $999,999.99 | 6.45% | 5.08% |
| Above $1,000,000.00 | 5.45% | 4.75% |
Account Fees
| Feature | 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 |
Investment Options
| Feature | 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 Trading |
No | Yes |
Order Types
| Feature | 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
| Feature | 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 (Monthly Avg) |
30 | 100 |
|
Webinars (Archived) |
Yes | Yes |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
Yes | No |
Stock Trading Apps
| Feature | 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
| Feature | 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 List - Column Filtering |
Yes | No |
Stock App Charting
| Feature | 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
| Feature | 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
| Feature | 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
| Feature | 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
| Feature | 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 - Options |
Yes | Yes |
|
Screener - Bonds |
Yes | Yes |
|
Misc - Portfolio Allocation |
Yes | Yes |
Stock Research
| Feature | E*TRADE | Charles Schwab |
|
Stock Research - PDF Reports |
6 | 8 |
|
Stock Research - Earnings |
Yes | Yes |
|
Stock Research - Insiders |
Yes | Yes |
|
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 | 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 - Performance Analysis |
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
| Feature | 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 - PDF 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 | 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 Positions - Greeks Streaming |
Yes | Yes |
|
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 |
Banking
| Feature | 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
| Feature | 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
| Feature | E*TRADE | Charles Schwab |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| E*TRADE Review | Charles Schwab Review | |
| Winner | check_circle |
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 Charles Schwab vs E*TRADE.
Is Charles Schwab or E*TRADE better for beginners?
E*TRADE is better 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).
What about Charles Schwab vs E*TRADE pricing?
Charles Schwab and E*TRADE charge the same amount for regular stock trades, $0. For options trading, both Charles Schwab and E*TRADE charge the same base fee of $0. 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, Charles Schwab offers its clients access to 10228 different mutual funds while E*TRADE has 7242 available funds, a difference of 2,986.
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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are found at Charles Schwab alongside E*TRADE.
Overall winner: E*TRADE
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All pricing data was obtained from a published web site as of 01/10/2022 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.
