Is Charles Schwab better than Interactive Brokers? After testing 15 of the best online brokers over six months, Charles Schwab (89.63%) is better than Interactive Brokers (89.29%). With nearly $8 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
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Charles Schwab vs Interactive Brokers 2022
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Overall Rating
| Feature | Charles Schwab | Interactive Brokers |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| 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) | $2.25 | $0.85 |
| Broker Assisted Trade Fee | $25.00 | $30.00 |
Margin Rates
| Feature | Charles Schwab | Interactive Brokers |
| Under $24,999.99 | 8.33% | 1.58% |
| $25,000.00 to $49,999.99 | 7.83% | 1.58% |
| $50,000.00 to $99,999.99 | 6.88% | 1.58% |
| $100,000.00 to $249,999.99 | 6.83% | 1.08% |
| $250,000.00 to $499,999.99 | 6.58% | 1.08% |
| $500,000.00 to $999,999.99 | 5.08% | 1.08% |
| Above $1,000,000.00 | 4.75% | 0.75% |
Account Fees
| Feature | Charles Schwab | Interactive Brokers |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $0.00 |
|
Account Transfer Out (Partial) |
$25.00 | $0.00 |
|
Account Transfer Out (Full) |
$50.00 | $0.00 |
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 | 6 |
|
Futures Trading |
Yes | Yes |
|
Forex Trading |
No | No |
|
Crypto Trading |
No | Yes |
|
Crypto Trading - Total Coins |
0 | 4 |
|
Mutual Funds (No Load) |
7537 | 10882 |
|
Mutual Funds (Total) |
10228 | 11160 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
Yes | No |
|
International Trading |
Yes | Yes |
Order Types
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Charles Schwab | Interactive Brokers |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
Yes | Yes |
|
Education (Options) |
Yes | Yes |
|
Education (Mutual Funds) |
Yes | No |
|
Education (Bonds) |
Yes | Yes |
|
Education (Retirement) |
Yes | Yes |
|
Retirement Calculator |
Yes | No |
|
Investor Dictionary |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Videos |
Yes | Yes |
|
Webinars (Monthly Avg) |
100 | 20 |
|
Webinars (Archived) |
Yes | Yes |
|
Progress Tracking |
No | Yes |
|
Interactive Learning - Quizzes |
No | Yes |
Stock 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 - Simple Options |
Yes | Yes |
|
Trading - Complex Options |
Yes | Yes |
|
Order Ticket RT Quotes |
Yes | Yes |
|
Order Ticket SRT Quotes |
No | Yes |
Stock App Features
| Feature | Charles Schwab | Interactive Brokers |
|
Market Movers (Top Gainers) |
Yes | Yes |
|
Stream Live TV |
Yes | Yes |
|
Videos on Demand |
Yes | Yes |
|
Stock Alerts |
No | Yes |
|
Option Chains Viewable |
Yes | Yes |
|
Watch List (Real-time) |
Yes | Yes |
|
Watch List (Streaming) |
No | Yes |
|
Watch Lists - Create & Manage |
Yes | Yes |
|
Watch Lists - Column Customization |
No | Yes |
|
Watch List - Column Filtering |
No | Yes |
Stock App Charting
| Feature | Charles Schwab | Interactive Brokers |
|
Charting - After-Hours |
No | Yes |
|
Charting - Can Turn Horizontally |
Yes | Yes |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Technical Studies |
32 | 70 |
|
Charting - Study Customizations |
Yes | Yes |
|
Charting - Stock Comparisons |
Yes | No |
Trading Platforms
| Feature | Charles Schwab | Interactive Brokers |
|
Desktop Trading Platform |
Yes | Yes |
|
Web Trading Platform |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Trade Journal |
Yes | Yes |
|
Watch Lists - Total Fields |
130 | 669 |
Stock Chart Features
| Feature | Charles Schwab | Interactive Brokers |
|
Charting - Adjust Trades on Chart |
Yes | Yes |
|
Charting - Indicators / Studies |
41 | 121 |
|
Charting - Drawing Tools |
15 | 9 |
|
Charting - Notes |
Yes | Yes |
|
Charting - Index Overlays |
Yes | Yes |
|
Charting - Historical Trades |
No | Yes |
|
Charting - Corporate Events |
Yes | Yes |
|
Charting - Custom Date Range |
Yes | No |
|
Charting - Custom Time Bars |
Yes | Yes |
|
Charting - Automated Analysis |
Yes | Yes |
|
Charting - Save Profiles |
Yes | Yes |
|
Trade Ideas - Technical Analysis |
Yes | Yes |
|
Charting - Study Customizations |
7 | 6 |
|
Charting - Custom Studies |
No | No |
Day Trading
| Feature | Charles Schwab | Interactive Brokers |
|
Streaming Time & Sales |
Yes | Yes |
|
Streaming TV |
Yes | Yes |
|
Direct Market Routing - Stocks |
Yes | Yes |
|
Ladder Trading |
No | Yes |
|
Trade Hot Keys |
Yes | Yes |
|
Level 2 Quotes - Stocks |
Yes | Yes |
|
Trade Ideas - Backtesting |
Yes | Yes |
|
Trade Ideas - Backtesting Adv |
No | Yes |
|
Short Locator |
Yes | Yes |
|
Order Liquidity Rebates |
No | Yes |
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 - 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 | Charles Schwab | Interactive Brokers |
|
Stock Research - PDF Reports |
8 | 5 |
|
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 | Yes |
ETF Research
| Feature | Charles Schwab | Interactive Brokers |
|
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 | Charles Schwab | Interactive Brokers |
|
Mutual Funds - Strategy Overview |
Yes | Yes |
|
Mutual Funds - Performance Chart |
Yes | No |
|
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 | Charles Schwab | Interactive Brokers |
|
Option Chains - Basic View |
Yes | Yes |
|
Option Chains - Strategy View |
Yes | Yes |
|
Option Chains - Streaming |
Yes | Yes |
|
Option Chains - Total Columns |
44 | 37 |
|
Option Chains - Greeks |
5 | 4 |
|
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 | Charles Schwab | Interactive Brokers |
|
Bank (Member FDIC) |
Yes | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
Yes | No |
|
Credit Cards |
Yes | No |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
Yes | No |
Customer Service
| Feature | Charles Schwab | Interactive Brokers |
|
Phone Support (Prospect Customers) |
Yes | Yes |
|
Phone Support (Current Customers) |
Yes | Yes |
|
Email Support |
Yes | Yes |
|
Live Chat (Prospect Customers) |
No | No |
|
Live Chat (Current Customers) |
Yes | Yes |
|
24/7 Support |
Yes | No |
Overall
| Feature | Charles Schwab | Interactive Brokers |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| 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 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Charles Schwab vs Interactive Brokers.
Is Charles Schwab or Interactive Brokers better for beginners?
Interactive Brokers is better for beginner investors than Charles Schwab. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement).
What about Charles Schwab vs Interactive Brokers pricing?
Charles Schwab and Interactive Brokers both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $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, Charles Schwab trails Interactive Brokers by 932 total mutual funds, with Interactive Brokers offering 11160 and Charles Schwab offering 10228.
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
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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.
