Charles Schwab vs Interactive Brokers Comparison
Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 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 offers more comprehensive new investor education for beginner investors than Interactive Brokers. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement). Neither have Education (Mutual Funds). See our guide to Best Paper Trading Platforms for more.
What about Charles Schwab vs Interactive Brokers pricing?
Charles Schwab and Interactive Brokers charge the same amount for regular stock trades, $0.00. Charles Schwab and Interactive Brokers both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Charles Schwab or Interactive Brokers offer a wider range of investment options?
Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Forex Trading. Looking at Mutual Funds, Interactive Brokers trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and Interactive Brokers offering 4329.
Which trading platform is better: Charles Schwab or Interactive Brokers?
To compare the trading platforms of 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, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while Interactive Brokers offers Debit Cards.
Is Charles Schwab good?
As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.
Is Interactive Brokers good?
Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.
Charles Schwab vs Interactive Brokers Winner
Overall winner: Charles Schwab
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