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Charles Schwab vs SpeedTrader 2020

Is Charles Schwab better than SpeedTrader? After testing 15 of the best online brokers over five months, Charles Schwab (93.11%) is better than SpeedTrader (51.25%). Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $0 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future.

SPECIAL OFFER $0 online stock, ETF, and options commissions at Schwab.
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Overall Rating

Feature Charles Schwab SpeedTrader
Overall 4.5 2.5
Commissions & Fees 4.5 4
Offering of Investments 4.5 2.5
Platforms & Tools 4.5 3
Mobile Trading 4 3
Research 5 1
Education 4.5 1
Ease of Use 5 2.5
Banking 4.5 0.5
Charles Schwab Review SpeedTrader Review
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Trading Fees

Feature Charles Schwab SpeedTrader
Minimum Deposit $0.00 $30,000.00
Stock Trade Fee (per trade) $0.00 $4.49
ETF Trade Fee $0.00 $4.49
Options Base Fee $0.00 N/A
Options Per Contract Fee $0.65 $0.00
Mutual Fund Trade Fee $49.95 $50.00
Broker Assisted Trades Fee $25.00 $30.00

Margin Rates

Feature Charles Schwab SpeedTrader
Under $24,999.99 8.33% 6.00%
$25,000.00 to $49,999.99 7.83% 6.00%
$50,000.00 to $99,999.99 6.88% 6.00%
$100,000.00 to $249,999.99 6.83% 6.00%
$250,000.00 to $499,999.99 6.58% 6.00%
$500,000.00 to $999,999.99 5.08% 6.00%
Above $1,000,000.00 4.70% 6.00%

Account Fees

Feature Charles Schwab SpeedTrader
IRA Annual Fee $0.00 N/A
IRA Closure Fee $50.00 N/A
Returned ACH Fee $25.00 $40.00
Returned Wire Fee $25.00 $40.00
Stock Certificate Processing Fee $100.00 N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $0.00 $10.00
Paper Confirmation Fee $0.00 $4.00
Domestic Wire Fee $25.00 $25.00
International Wire Fee $25.00 $75.00

Investment Options

Feature Charles Schwab SpeedTrader
Stock Trading
Yes Yes
Fractional Shares
Yes No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Crypto Trading No No
Mutual Funds (No Load)
7223 0
Mutual Funds (Total)
9860 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
Yes No

Order Types

Feature Charles Schwab SpeedTrader
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No

Trading Platforms

Feature Charles Schwab SpeedTrader
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
Yes No
Watch Lists - Total Fields
130 30
Heat Mapping
Yes No
AI Assistant Bot
Yes No

Charting Features

Feature Charles Schwab SpeedTrader
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
41 36
Charting - Drawing Tools
15 9
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
7 8
Charting - Custom Studies
No No

Day Trading

Feature Charles Schwab SpeedTrader
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No Yes
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Order Liquidity Rebates
No No

Mobile Trading Apps

Feature Charles Schwab SpeedTrader
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No

Mobile App Features

Feature Charles Schwab SpeedTrader
Watch List Syncing
Yes No
Stock Alerts
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
No No

Research Overview

Feature Charles Schwab SpeedTrader
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No

Stock Research

Feature Charles Schwab SpeedTrader
Stock Research - Reports
8 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature Charles Schwab SpeedTrader
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No

Mutual Fund Research

Feature Charles Schwab SpeedTrader
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No

Options Trading

Feature Charles Schwab SpeedTrader
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
44 17
Option Chains - Greeks
5 0
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No

Beginners

Feature Charles Schwab SpeedTrader
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes No
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
No Yes
Videos
Yes No
Webinars (Monthly Avg)
100 1
Webinars (Archived)
Yes Yes
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No

Banking

Feature Charles Schwab SpeedTrader
Retail Locations
360 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No

Overall

Feature Charles Schwab SpeedTrader
Overall 4.5 2.5
Commissions & Fees 4.5 4
Offering of Investments 4.5 2.5
Platforms & Tools 4.5 3
Mobile Trading 4 3
Research 5 1
Education 4.5 1
Ease of Use 5 2.5
Banking 4.5 0.5
Charles Schwab Review SpeedTrader Review
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Charles Schwab vs SpeedTrader.

Is Charles Schwab or SpeedTrader better for beginners?
Charles Schwab is better for beginner investors than SpeedTrader. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about Charles Schwab vs SpeedTrader pricing?
SpeedTrader charges $4.49 per stock trade which is $4.49 more than Charles Schwab which charges customers $0 per trade. With options, the base fee is $0 for both Charles Schwab and SpeedTrader. SpeedTrader's per contract rate of $0 is less than Charles Schwab which charges $0.65. For a complete commissions summary, see our best discount brokers guide.

Does Charles Schwab or SpeedTrader offer a wider range of investment options?
Charles Schwab offers a more diverse selection of investment options than SpeedTrader. Charles Schwab offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Advisor Services and International Trading. Looking at Mutual Funds, Charles Schwab boasts an offering of 9860 mutual funds compared to SpeedTrader's 0 available funds.

Which trading platform is better: Charles Schwab or SpeedTrader?
To compare the trading platforms of both Charles Schwab and SpeedTrader, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Charles Schwab while customers at SpeedTrader can have none of these.

Overall, between Charles Schwab and SpeedTrader, Charles Schwab is the better online broker.

Charles Schwab Review
SpeedTrader Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. 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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