Is Charles Schwab better than Interactive Brokers? After testing 11 of the best online brokers over three months, Charles Schwab (95.87%) is better than Interactive Brokers (95.07%). 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.
StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure
Charles Schwab vs Interactive Brokers 2021
|
|
|
|
EXCLUSIVE OFFER
New clients that open an account today receive a special margin rate.
|
||
| Open Account > |
Overall Rating
| Feature | Charles Schwab | Interactive Brokers |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Charles Schwab Review | Interactive Brokers Review | |
| Winner | check_circle |
Trading Fees
| Feature | Charles Schwab | Interactive Brokers |
| 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 | $14.95 |
| Options (Base Fee) | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.65 |
| Futures (Per Contract) | $1.50 | $0.85 |
| Broker Assisted Trades Fee | $25.00 | $30.00 |
Margin Rates
| Feature | Charles Schwab | Interactive Brokers |
| Under $24,999.99 | 8.33% | 1.59% |
| $25,000.00 to $49,999.99 | 7.83% | 1.59% |
| $50,000.00 to $99,999.99 | 6.88% | 1.59% |
| $100,000.00 to $249,999.99 | 6.83% | 1.29% |
| $250,000.00 to $499,999.99 | 6.58% | 1.19% |
| $500,000.00 to $999,999.99 | 5.08% | 1.14% |
| Above $1,000,000.00 | 4.70% | 0.75% |
Account Fees
| Feature | Charles Schwab | Interactive Brokers |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $50.00 | $0.00 |
| Account Transfer Out (Partial) | $25.00 | $0.00 |
| Account Transfer Out (Full) | $50.00 | $0.00 |
| Returned ACH Fee | $25.00 | N/A |
| Returned Wire Fee | $25.00 | N/A |
| Stock Certificate Processing Fee | $100.00 | N/A |
| Stock Certificate Delivery Fee | N/A | N/A |
| Paper Statement Fee | $0.00 | N/A |
| Paper Confirmation Fee | $0.00 | N/A |
| Domestic Wire Fee | $25.00 | $10.00 |
| International Wire Fee | $25.00 | $10.00 |
Investment Options
| Feature | Charles Schwab | Interactive Brokers |
|
Stock Trading |
Yes | Yes |
|
Fractional Shares |
Yes | Yes |
|
OTCBB / Pink Sheets |
Yes | Yes |
|
Options Trading |
Yes | Yes |
|
Complex Options Max Legs |
4 | 8 |
|
Futures Trading |
Yes | Yes |
|
Forex Trading |
No | No |
| Crypto Trading | No | No |
|
Mutual Funds (No Load) |
7223 | 8734 |
|
Mutual Funds (Total) |
9860 | 11080 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
Yes | No |
|
International Trading |
Yes | Yes |
|
AI Assistant Bot |
Yes | Yes |
Order Types
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Yes |
|
Order Type - OCO |
Yes | Yes |
|
Order Type - OTO |
Yes | Yes |
|
Order Type - OTOCO |
Yes | Yes |
Trading Platforms
| Feature | Charles Schwab | Interactive Brokers |
|
Desktop Platform (Windows) |
Yes | Yes |
|
Desktop Platform (Mac) |
Yes | Yes |
|
Web Platform |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Trade Journal |
Yes | Yes |
|
Heat Mapping |
Yes | Yes |
|
Watch Lists - Total Fields |
130 | 494 |
Charting Features
| Feature | Charles Schwab | Interactive Brokers |
|
Charting - Trade Off Chart |
Yes | Yes |
|
Charting - Indicators / Studies |
41 | 121 |
|
Charting - Drawing Tools |
15 | 9 |
|
Charting - Historical Trades |
No | Yes |
|
Charting - Corporate Events |
Yes | Yes |
|
Charting - Automated Analysis |
Yes | No |
|
Charting - Save Profiles |
Yes | Yes |
|
Trade Ideas - Technical Analysis |
Yes | No |
|
Charting - Study Customizations |
7 | 6 |
|
Charting - Custom Studies |
No | No |
Day Trading
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Yes |
|
Trade Hot Keys |
Yes | Yes |
|
Level 2 Quotes - Stocks |
Yes | Yes |
|
Level 2 Quotes - Options |
Yes | Yes |
|
Trade Ideas - Backtesting |
Yes | Yes |
|
Short Locator |
No | Yes |
|
Order Liquidity Rebates |
No | Yes |
Mobile Trading Apps
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Interactive Brokers |
|
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 | No |
| Mobile Trading |
Research Overview
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Interactive Brokers |
|
Stock Research - Reports |
8 | 3 |
|
Stock Research - Earnings |
Yes | Yes |
|
Stock Research - Insiders |
Yes | Yes |
|
Stock Research - Metric Comp |
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 | Yes |
ETF Research
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Interactive Brokers |
|
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 | Interactive Brokers |
|
Option Chains - Streaming |
Yes | Yes |
|
Option Chains - Total Columns |
44 | 37 |
|
Option Chains - Greeks |
5 | 4 |
|
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 | Interactive Brokers |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
Yes | Yes |
|
Education (Options) |
Yes | Yes |
|
Education (Mutual Funds) |
Yes | No |
|
Education (Fixed Income) |
Yes | Yes |
|
Education (Retirement) |
Yes | No |
|
Paper Trading |
No | Yes |
|
Videos |
Yes | Yes |
|
Webinars (Monthly Avg) |
100 | 20 |
|
Webinars (Archived) |
Yes | Yes |
|
Live Seminars |
Yes | No |
|
Progress Tracking |
No | Yes |
|
Interactive Learning - Quizzes |
No | Yes |
Banking
| Feature | Charles Schwab | Interactive Brokers |
|
Retail Locations |
360 | 0 |
|
Member FDIC |
Yes | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
Yes | No |
|
Credit Cards |
Yes | No |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
Yes | No |
|
No Fee Banking |
Yes | Yes |
Overall
| Feature | Charles Schwab | Interactive Brokers |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Charles Schwab Review | Interactive Brokers 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 Interactive Brokers.
Is Charles Schwab or Interactive Brokers better for beginners?
Charles Schwab is better for beginner investors than Interactive Brokers. 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 Interactive Brokers pricing?
Charles Schwab and Interactive Brokers charge the same amount for regular stock trades, $0. For options trading, both Charles Schwab and Interactive Brokers charge the same base fee of $0. Option contracts at both of the brokerages are the same at $0.65 each. For a complete commissions summary, see our best discount brokers guide.
Does Charles Schwab or Interactive Brokers offer a wider range of investment options?
Interactive Brokers offers a more diverse selection of investment options than Charles Schwab. Interactive Brokers offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading and International Trading. Looking at Mutual Funds, Interactive Brokers boasts an offering of 11080 mutual funds compared to Charles Schwab's 9860 available funds.
Which trading platform is better: Charles Schwab or Interactive Brokers?
To compare the trading platforms of both Charles Schwab and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Interactive Brokers 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 and Debit Cards are offered by Interactive Brokers while Charles Schwab offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall winner: Charles Schwab
Read Next: Best Online Brokers 2021
Related Comparisons
- Charles Schwab vs. Fidelity
- Charles Schwab vs. Merrill Edge
- Charles Schwab vs. TD Ameritrade
- Interactive Brokers vs. E*TRADE
- Interactive Brokers vs. TD Ameritrade
- Interactive Brokers vs. TradeStation
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.
