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Interactive Brokers vs Charles Schwab Review
By Blain Reinkensmeyer / June 13th, 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? After scoring brokers on over 4,000 data points for our 2019 review, Charles Schwab (84.06%) is better than Interactive Brokers (80.99%). For those seeking access to low costs, excellent research, quality trade tools, and professional planning for the future, Charles Schwab will not disappoint.
Overall
Trading Fees
Minimum Deposit
Stock Trade Fee (per trade)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
IRA Annual Fee
IRA Closure Fee
Commissions & Fees
Winner
Margin Rates
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
$500,000.00 to $999,999.99
Above $1,000,000.00
Commissions & Fees
Winner
Trading Platforms
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Paper Trading
Trade Journal
Watch Lists - Total Fields
Two-Factor Authentication Login
Heat Mapping
Platforms & Tools
Winner
Charting Features
Charting - Trade Off Chart
Charting - Indicators / Studies
Charting - Drawing Tools
Charting - Historical Trades
Charting - Corporate Events
Charting - Automated Analysis
Charting - Save Profiles
Charting - Study Customizations
Charting - Custom Studies
Platforms & Tools
Winner
Day Trading
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Streaming Time & Sales
Streaming TV
Direct Market Routing - Stocks
Direct Market Routing - Options
Ladder Trading
Trade Hot Keys
Level 2 Quotes - Stocks
Level 2 Quotes - Options
Trade Ideas - Backtesting
Short Locator
Client Liquidity Rebates
Winner
Mobile Trading
iPhone App
Android App
Apple Watch App
Trading - Stocks
Trading - After-Hours
Trading - Conditional Orders
Trading - Mutual Funds
Trading - Simple Options
Trading - Complex Options
Trading - Option Rolling
Touch / Face ID
Watch List Syncing
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Charting - After Hours
Charting - Drawing
Charting - Study Customizations
Customizable Homescreen
Heatmapping
Stream Live TV
Barcode Lookup
Mobile Trading
Winner
Research Overview
Research - Stocks
Research - ETFs
Research - Mutual Funds
Research - Pink Sheets / OTCBB
Research - Fixed Income
Research - Futures
Research - Forex
Screener - Stocks
Screener - ETFs
Screener - Mutual Funds
Screener - Options
Screener - Bonds
Misc - Portfolio Builder
Misc - Portfolio Allocation
Research
Winner
Stock Research
Stock Research - Reports
Stock Research - Earnings
Stock Research - Insiders
Stock Research - Metric Comp
Stock Research - SEC Filings
Stock Research - Social
Stock Research - Balance Sheet
Stock Research - Cash Flows
Stock Research - News
Stock Research - ESG
Research
Winner
Fund Research
ETFs - Strategy Overview
ETFs - Top 10 Holdings
ETFs - Sector Exposure
ETFs - Risk Analysis
ETFs - Performance Analysis
ETFs - Ratings
ETFs - Morningstar StyleMap
ETFs - Reports
Mutual Funds - Strategy Overview
Mutual Funds - Prospectus
Mutual Funds - Reports
Mutual Funds - Fees Breakdown
Mutual Funds - Top 10 Holdings
Mutual Funds - Asset Allocation
Mutual Funds - Sector Allocation
Mutual Funds - Country Allocation
Mutual Funds - StyleMap
Mutual Funds - 3rd Party Ratings
Research
Winner
Options Trading
Option Chains - Streaming
Option Chains - Total Columns
Option Chains - Greeks
Option Chains - Quick Analysis
Option Analysis - P&L Charts
Option Probability Analysis
Option Probability Analysis Adv
Option Positions - Greeks
Option Positions - Adv Analysis
Option Positions - Rolling
Option Positions - Grouping
Platforms & Tools
Winner
Investments
Stock Trading
OTCBB / Pink Sheets
Options Trading
Complex Options Max Legs
Futures Trading
Forex Trading
Commission-Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
Bonds (US Treasury)
Bonds (Corporate)
Bonds (Municipal)
Advisor Services
International Trading
Offering of Investments
Winner
Order Types
Order Type - Market
Order Type - Limit
Order Type - Stop
Order Type - Trailing Stop
Order Type - Contingent
Order Type - MultiContingent
Order Type - OCO
Order Type - OTO
Order Type - OTOCO
Offering of Investments
Winner
Beginners
Has Education - Stocks
Has Education - ETFs
Has Education - Options
Has Education - Mutual Funds
Has Education - Fixed Income
Has Education - Retirement
Paper Trading
Videos
Webinars (Monthly Avg)
Webinars (Archived)
Live Seminars
Progress Tracking
Interactive Learning - Quizzes
Investor Magazine
Education
Winner
Banking
Retail Locations
Member FDIC
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Banking
Winner
Overall
Overall
Winner
Exclusive Offer
New clients that open an account today receive a special margin rate Learn More
$0.00
N/A
$0.00
$0.70
$14.95
$30.00
$0.00
$0.00
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3.68%
3.68%
3.68%
3.18%
3.18%
3.18%
2.68%
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Yes
Yes
Yes
Yes
Yes
453
Yes
Yes
check_circle
Yes
121
9
Yes
Yes
No
Yes
6
No
check_circle
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
No
Yes
No
No
Yes
No
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Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
1
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
No
Yes
Yes
Yes
No
No
No
No
No
No
Yes
37
4
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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Yes
Yes
Yes
8
Yes
No
48
7558
11000
Yes
Yes
Yes
No
Yes
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Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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Yes
No
Yes
No
No
No
Yes
Yes
20
Yes
No
Yes
Yes
Yes
0
No
Yes
No
No
Yes
No
No
Special Offer
$4.95 online equity trades + $0.65 per options contract Open Account
$0.00
$4.95
$4.95
$0.65
$49.95
$25.00
$0.00
$50.00
9.58%
9.08%
8.13%
8.08%
7.83%
6.58%
6.25%
Yes
Yes
Yes
No
Yes
108
Yes
Yes
Yes
41
15
No
Yes
Yes
Yes
6
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
No
No
No
No
Yes
No
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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8
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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Yes
41
5
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
4
Yes
No
503
5846
5846
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
50
Yes
Yes
No
No
Yes
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357
Yes
Yes
Yes
Yes
Yes
Yes
Yes
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Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Charles Schwab vs Interactive Brokers.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Charles Schwab, with its regular stock trades costing $4.95, is more expensive than Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. For options trading, Charles Schwab has a base fee of $4.95, and Interactive Brokers a base fee of $0. Each option contract then costs $0.70 at Interactive Brokers and $0.65 at Charles Schwab. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Both Charles Schwab and Interactive Brokers support Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers boasts an offering of 11000 mutual funds compared to Charles Schwab's 5846 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Interactive Brokers has virtual trading, Charles Schwab doesn't. Taking a look at mobile trading, Charles Schwab along with Interactive Brokers both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. 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, between Charles Schwab and Interactive Brokers, Charles Schwab is the winner.
Charles Schwab Review
Interactive Brokers Review
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Charles Schwab, with its regular stock trades costing $4.95, is more expensive than Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. For options trading, Charles Schwab has a base fee of $4.95, and Interactive Brokers a base fee of $0. Each option contract then costs $0.70 at Interactive Brokers and $0.65 at Charles Schwab. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Both Charles Schwab and Interactive Brokers support Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers boasts an offering of 11000 mutual funds compared to Charles Schwab's 5846 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Interactive Brokers has virtual trading, Charles Schwab doesn't. Taking a look at mobile trading, Charles Schwab along with Interactive Brokers both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. 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, 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.
