The StockBrokers.com 2017 Brokerage Review
compares Charles Schwab vs Scottrade. Compare Charles Schwab and Scottrade trade commissions, fees and overall broker ratings by using the table below. Is Charles Schwab or Scottrade a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Scottrade charges $6.95 per stock trade which is $2.00 more than Charles Schwab which charges clients $4.95 per trade. With options, the base fees charged are $6.95 (Scottrade) and $4.95 (Charles Schwab). Contracts are pricier at Scottrade, costing $0.70 versus $0.65 at Charles Schwab, a difference of $0.05 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Scottrade supports Stock Trading, Options Trading and Mutual Funds while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Scottrade boasts an offering of 13599 compared to Charles Schwab's 5165 available funds. Commission free ETFs can also be a nice plus, with Scottrade falling behind Charles Schwab, offering 0 commission free etfs compared to Charles Schwab's 229.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Scottrade makes virtual trading available to clients, while Charles Schwab does not. For mobile trading, Charles Schwab along with Scottrade 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. Checking Accounts, Savings Accounts and Debit Cards are offered by Scottrade while Charles Schwab offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and trading on the go, Charles Schwab was rated for Best in Class - Platforms & Tools and Best in Class - Research in 2014, while Scottrade was rated for none of these.
Overall, Charles Schwab takes the upper hand with 4.50 stars over Scottrade's 4.00 stars.