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Interactive Brokers vs Charles Schwab Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Thursday, July 5th, 2018

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 more than Interactive Brokers for placing regular stock trades ($4.95 and $0 (the broker charges a per share rate instead), respectively). With options, the base fees charged are $4.95 (Charles Schwab) and $0 (Interactive Brokers). Each option contract then costs $0.70 at Interactive Brokers and $0.65 at Charles Schwab. 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 boasts an offering of 10051 mutual funds compared to Charles Schwab's 5509 available funds. Commission free ETFs can also be a nice plus, with Interactive Brokers falling behind Charles Schwab, offering 45 commission free ETFs compared to Charles Schwab's 244.

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 has virtual trading, Charles Schwab doesn't. For mobile trading, Charles Schwab along with Interactive Brokers both support the 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 Debit Cards at Interactive Brokers while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab posted awards Best in Class - Platforms & Tools and Best in Class - Research in 2018, while Interactive Brokers found itself with Best in Class - Mobile Trading.

Overall, both Charles Schwab and Interactive Brokers hold a 4.50 star rating.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Minimum Deposit
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
IRA Annual Fee
IRA Closure Fee
Advantage
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
Advantage
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
Order Type - Algo
Advantage
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Virtual Trading
Watch Lists - Total Fields
Two-Factor Authentication Login
Charting - Trade Off Chart
Charting - Drawing Tools
Charting - Indicators / Studies
Charting - Historical Trades
Charting - Save Profiles
Charting - Study Customizations
Charting - Custom Studies
Option Chains - Total Columns
Option Chains - Greeks Viewable
Option Analysis - P&L Charts
Option Positions - Rolling
Heat Mapping
Advantage
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
Client Liquidity Rebates
Advantage
Screener - Stocks
Screener - ETFs
Screener - Mutual Funds
Screener - Options
Screener - Bonds
Misc - Portfolio Allocation
Misc - Portfolio Builder
Equity Research - Earnings
Equity Research - SEC Filings
Equity Research - Insiders
Equity Research - Social
Equity Research - Reports
ETF Research - Top 10 Holdings
ETF Research - Reports
ETF Research - Ratings
Mutual Fund Research - Reports
Advantage
iPhone App
iPad App
Android App
Android Tablet 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 ID
Watch List Syncing
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Charting - After Hours
Charting - Study Customizations
Customizable Homescreen
Heatmapping
Stream Live TV
Barcode Lookup
Advantage
Retail Locations
Member FDIC
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Advantage
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
Has Education - Stocks
Has Education - ETFs
Has Education - Options
Has Education - Mutual Funds
Has Education - Fixed Income
Has Education - Retirement
Videos
Client Webinars (Monthly Avg)
Client Webinars (Archived)
Live Seminars
Progress Tracking
Interactive Learning - Quizzes
Client Magazine
Advantage
Interactive Brokers
Exclusive Offer Open a new account today to borrow at special margin rates Learn More
Interactive Brokers Review
 
4.5
5
5
4.5
3.5
3.5
4.5
3
3
5
0.5
 
$0.00
N/A
$0.00
$0.70
$14.95
$30.00
$0.00
$0.00
check_circle
 
Yes
Yes
Yes
8
Yes
No
45
8770
10051
Yes
Yes
Yes
No
Yes
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
453
Yes
Yes
9
121
Yes
Yes
6
No
37
4
Yes
Yes
No
 
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
1
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
No
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
No
No
No
No
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0
No
No
No
No
Yes
No
No
 
3.41%
3.41%
3.41%
2.91%
2.91%
2.91%
2.41%
 
Yes
No
Yes
No
No
No
Yes
25
Yes
No
No
Yes
No
Charles Schwab
Special Offer Earn 500 commission-free online trades at Schwab. Open an account
Charles Schwab Review
 
4.5
4
4.5
4.5
5
4.5
4
4.5
4.5
4.5
4.5
 
$1,000.00
$4.95
$4.95
$0.65
$76.00
$25.00
$0.00
$50.00
 
Yes
Yes
Yes
4
Yes
No
244
5509
5509
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
No
108
Yes
Yes
15
41
No
Yes
6
No
34
5
Yes
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
8
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
Yes
No
Yes
 
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
No
No
No
Yes
No
Yes
Yes
No
 
335
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
9.33%
8.83%
7.88%
7.83%
7.58%
6.58%
6.25%
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
50
Yes
Yes
No
No
Yes
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All pricing data was obtained from a published web site as of 02/20/18 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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.

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