Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Charles Schwab vs OptionsHouse, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Charles Schwab and OptionsHouse both cost $4.95 per trade. With options, the base fee is $4.95 for both Charles Schwab and OptionsHouse. Each contract then costs $0.65 at Charles Schwab and $0.50 at OptionsHouse for a difference in price of $0.15 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. Both Charles Schwab and OptionsHouse support Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, OptionsHouse offers its clients access to 12275 different mutual funds while Charles Schwab has 5165 available funds, a difference of 7,110.00. Commission free ETFs also should not be forgotten, Charles Schwab offers 229 versus OptionsHouse's total of 5.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. OptionsHouse offers virtual trading while Charles Schwab does not. Taking a look at mobile trading, Charles Schwab along with OptionsHouse 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, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while OptionsHouse offers none of these. On the whole, when it comes to tools, research, and trading on the go, Charles Schwab posted awards for Best in Class - Platforms & Tools and Best in Class - Research in 2014, while OptionsHouse found itself with Best in Class - Mobile Trading.
Overall, Charles Schwab boasts 4.50 stars versus OptionsHouse's 4.00 stars.