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Interactive Brokers vs Charles Schwab 2019
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 Interactive Brokers? Based on over 4,000 data points from our 2019 annual broker review, Charles Schwab (84.06%) is better than Interactive Brokers (80.99%). Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $4.95 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future.
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Exclusive Offer
New clients that open an account today receive a special margin rate Open Account
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Special Offer
$4.95 online equity trades + $0.65 per options contract Open Account
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| Open Account | Open Account |
Overall Rating
| Feature | Interactive Brokers | Charles Schwab |
| Overall | ||
| Interactive Brokers Review | Charles Schwab Review |
Trading Fees
| Feature | Interactive Brokers | Charles Schwab |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | N/A | $4.95 |
| ETF Trade Fee | $0.01 | $4.95 |
| Options Base Fee | $0.00 | $4.95 |
| Options Per Contract Fee | $0.70 | $0.65 |
| Mutual Fund Trade Fee | $14.95 | $49.95 |
| Broker Assisted Trades Fee | $30.00 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature |
Interactive Brokers
Open Account |
Charles Schwab
Open Account |
| Under $24,999.99 | 3.68% | 9.58% |
| $25,000.00 to $49,999.99 | 3.68% | 9.08% |
| $50,000.00 to $99,999.99 | 3.68% | 8.13% |
| $100,000.00 to $249,999.99 | 3.18% | 8.08% |
| $250,000.00 to $499,999.99 | 3.18% | 7.83% |
| $500,000.00 to $999,999.99 | 3.18% | 6.58% |
| Above $1,000,000.00 | 2.68% | 6.25% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | Interactive Brokers | Charles Schwab |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $50.00 |
| Returned ACH Fee | N/A | $25.00 |
| Returned Wire Fee | N/A | $25.00 |
| Stock Certificate Processing Fee | N/A | $100.00 |
| Stock Certificate Delivery Fee | N/A | N/A |
| Paper Statement Fee | N/A | $0.00 |
| Paper Confirmation Fee | N/A | $0.00 |
| Domestic Wire Fee | $10.00 | $25.00 |
| International Wire Fee | $10.00 | $25.00 |
| Commissions & Fees |
Investment Options
| Feature | Interactive Brokers | Charles Schwab |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
8 | 4 |
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Futures Trading |
Yes | Yes |
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Forex Trading |
No | No |
| Commission-Free ETFs | 48 | 503 |
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Mutual Funds (No Load) |
7558 | 5846 |
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Mutual Funds (Total) |
11000 | 5846 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Advisor Services |
No | Yes |
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International Trading |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Interactive Brokers | Charles Schwab |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
Yes | Yes |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Interactive Brokers | Charles Schwab |
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Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
Yes | No |
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Trade Journal |
Yes | Yes |
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Watch Lists - Total Fields |
453 | 108 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Interactive Brokers | Charles Schwab |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
121 | 41 |
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Charting - Drawing Tools |
9 | 15 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
Yes | Yes |
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Charting - Automated Analysis |
No | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
6 | 6 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Interactive Brokers | Charles Schwab |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
No | Yes |
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Streaming Time & Sales |
Yes | Yes |
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Streaming TV |
Yes | Yes |
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Direct Market Routing - Stocks |
Yes | Yes |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
Yes | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
Yes | Yes |
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Short Locator |
Yes | No |
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Client Liquidity Rebates |
Yes | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Interactive Brokers | Charles Schwab |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | Yes |
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Trading - Conditional Orders |
Yes | No |
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Trading - Mutual Funds |
Yes | Yes |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | Interactive Brokers | Charles Schwab |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | No |
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Stock Alerts - Advanced Fields |
No | No |
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Charting - After Hours |
Yes | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
Yes | Yes |
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Customizable Homescreen |
No | No |
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Heatmapping |
No | Yes |
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Stream Live TV |
Yes | Yes |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Interactive Brokers | Charles Schwab |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
No | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
Yes | Yes |
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Research - Futures |
Yes | Yes |
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Research - Forex |
Yes | No |
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Screener - Stocks |
Yes | Yes |
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Screener - ETFs |
Yes | Yes |
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Screener - Mutual Funds |
No | Yes |
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Screener - Options |
Yes | Yes |
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Screener - Bonds |
Yes | Yes |
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Misc - Portfolio Builder |
Yes | Yes |
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Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Interactive Brokers | Charles Schwab |
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Stock Research - Reports |
1 | 8 |
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Stock Research - Earnings |
Yes | Yes |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
Yes | Yes |
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Stock Research - SEC Filings |
Yes | Yes |
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Stock Research - Social |
Yes | Yes |
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Stock Research - Balance Sheet |
Yes | Yes |
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Stock Research - Cash Flows |
Yes | Yes |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
Yes | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Interactive Brokers | Charles Schwab |
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ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | Yes |
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ETFs - Sector Exposure |
Yes | Yes |
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ETFs - Risk Analysis |
Yes | Yes |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | Yes |
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ETFs - Morningstar StyleMap |
No | Yes |
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ETFs - Reports |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Interactive Brokers | Charles Schwab |
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Mutual Funds - Strategy Overview |
No | Yes |
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Mutual Funds - Prospectus |
Yes | Yes |
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Mutual Funds - Reports |
Yes | Yes |
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Mutual Funds - Fees Breakdown |
Yes | Yes |
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Mutual Funds - Top 10 Holdings |
No | Yes |
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Mutual Funds - Asset Allocation |
No | Yes |
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Mutual Funds - Sector Allocation |
No | Yes |
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Mutual Funds - Country Allocation |
No | Yes |
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Mutual Funds - StyleMap |
No | Yes |
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Mutual Funds - 3rd Party Ratings |
No | Yes |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Interactive Brokers | Charles Schwab |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
37 | 41 |
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Option Chains - Greeks |
4 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | Yes |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | Yes |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | Interactive Brokers | Charles Schwab |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
No | Yes |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
No | Yes |
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Has Education - Fixed Income |
No | Yes |
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Has Education - Retirement |
No | Yes |
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Paper Trading |
Yes | No |
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Videos |
Yes | Yes |
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Webinars (Monthly Avg) |
20 | 50 |
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Webinars (Archived) |
Yes | Yes |
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Live Seminars |
No | Yes |
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Progress Tracking |
Yes | No |
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Interactive Learning - Quizzes |
Yes | No |
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Investor Magazine |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Interactive Brokers | Charles Schwab |
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Retail Locations |
0 | 357 |
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Member FDIC |
No | Yes |
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Checking Accounts |
Yes | Yes |
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Savings Accounts |
No | Yes |
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Credit Cards |
No | Yes |
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Debit Cards |
Yes | Yes |
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Mortgage Loans |
No | Yes |
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No Fee Banking |
No | Yes |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Interactive Brokers | Charles Schwab |
| Interactive Brokers Review | Charles Schwab Review | |
| Overall | ||
| Winner | check_circle |
The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Charles Schwab vs Interactive Brokers. Is Charles Schwab or Interactive Brokers a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab charges $4.95 per stock trade which is $4.95 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $4.95 (Charles Schwab) and $0 (Interactive Brokers). Charles Schwab's per contract rate of $0.65 is less than Interactive Brokers which charges $0.70. 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 Interactive Brokers offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Interactive Brokers offers its clients access to 11000 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,154.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Interactive Brokers offers virtual trading while Charles Schwab does not. For mobile trading, Charles Schwab and Interactive Brokers 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. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Charles Schwab and Interactive Brokers, Charles Schwab is the winner.
Charles Schwab Review
Interactive Brokers Review
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab charges $4.95 per stock trade which is $4.95 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $4.95 (Charles Schwab) and $0 (Interactive Brokers). Charles Schwab's per contract rate of $0.65 is less than Interactive Brokers which charges $0.70. 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 Interactive Brokers offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Interactive Brokers offers its clients access to 11000 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,154.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Interactive Brokers offers virtual trading while Charles Schwab does not. For mobile trading, Charles Schwab and Interactive Brokers 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. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Charles Schwab and Interactive Brokers, Charles Schwab is the winner.
Charles Schwab Review
Interactive Brokers 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.
