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 and Interactive Brokers both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $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, Charles Schwab trails Interactive Brokers by 5,154 total mutual funds, with Interactive Brokers offering 11000 and Charles Schwab offering 5846.
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 Checking Accounts and Debit Cards at Interactive Brokers while customers at Charles Schwab can have 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