Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Charles Schwab vs OptionsHouse to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Charles Schwab and OptionsHouse both cost $4.95 per trade. For options trading, both Charles Schwab and OptionsHouse charge the same base fee of $4.95. OptionsHouse's per contract rate of $0.50 is less than Charles Schwab which charges $0.65. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Both Charles Schwab and OptionsHouse support Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Charles Schwab trails OptionsHouse by 6,766 total mutual funds, with OptionsHouse offering 12275 and Charles Schwab offering 5509. And, commission free ETFs deserve a comparison, Charles Schwab offers 244 commission free ETFs versus OptionsHouse's total of 5.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. OptionsHouse has virtual trading, Charles Schwab doesn't. For mobile trading, Charles Schwab along with OptionsHouse both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while OptionsHouse offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Charles Schwab posted awards Best in Class - Platforms & Tools and Best in Class - Research in 2018, while OptionsHouse found itself with Best in Class - Mobile Trading.
Overall, Charles Schwab comes out on top with 4.50 stars over OptionsHouse's 4.00 stars.