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Charles Schwab vs tastytrade 2023

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Written by StockBrokers.com

April 11, 2023

Is Charles Schwab better than tastytrade? After testing 17 of the best online brokers over three months, Charles Schwab (94.51%) is better than tastytrade (81.30%). As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

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Overall RatingCharles Schwabtastytrade
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4.5/5 Stars 4.0/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Charles Schwab Review tastytrade Review
Trading FeesCharles Schwabtastytrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 N/A
Mutual Fund Trade Fee Varies N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.50 info
Futures (Per Contract) $2.25 $1.25
Broker Assisted Trade Fee $25 $0
Margin RatesCharles Schwabtastytrade
Margin Rate Under $25,000 13.08% 11.00%
Margin Rate $25,000 to $49,999.99 12.58% 10.50%
Margin Rate $50,000 to $99,999.99 11.63% 10.00%
Margin Rate $100,000 to $249,999.99 11.58% 9.50%
Margin Rate $250,000 to $499,999.99 11.33% 9.00%
Margin Rate $500,000 to $999,999.99 Varies info 8.50%
Margin Rate Above $1,000,000 Varies info 8.00%
Account FeesCharles Schwabtastytrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $60.00
Account Transfer Out (Partial) $25.00 $75.00
Account Transfer Out (Full) $50.00 $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionsCharles Schwabtastytrade
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes Yes
OTC Stocks Yes No
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 25
Mutual Funds (No Load) 14996 0
Mutual Funds (Total) 17912 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 12 0
Order TypesCharles Schwabtastytrade
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes No
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersCharles Schwabtastytrade
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading No No
Videos Yes No
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsCharles Schwabtastytrade
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No Yes
SB Gallery - Mobile Apps
Stock App FeaturesCharles Schwabtastytrade
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts No No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) No Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No Yes
Watch Lists - Total Fields 130 33
Stock App ChartingCharles Schwabtastytrade
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes No
Charting - Technical Studies 32 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons Yes No
Trading PlatformsCharles Schwabtastytrade
Active Trading Platform StreetSmart Edge tastytrade
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) No Yes
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal Yes No
Watch Lists - Total Fields 130 33
Stock Chart FeaturesCharles Schwabtastytrade
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 41 308
Charting - Drawing Tools 15 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes No
Charting - Historical Trades No Yes
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 7 7
Charting - Custom Studies No No
Day TradingCharles Schwabtastytrade
Streaming Time & Sales Yes No
Streaming TV Yes Yes
Direct Market Routing - Stocks Yes No
Ladder Trading No No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv No No
Short Locator Yes Yes
Order Liquidity Rebates No No
Research OverviewCharles Schwabtastytrade
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes No
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock ResearchCharles Schwabtastytrade
Stock Research - PDF Reports 7 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes No
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchCharles Schwabtastytrade
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchCharles Schwabtastytrade
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings 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
Options TradingCharles Schwabtastytrade
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 44 7
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingCharles Schwabtastytrade
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans Yes No
Customer ServiceCharles Schwabtastytrade
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallCharles Schwabtastytrade
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Charles Schwab Review tastytrade Review
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Charles Schwab vs tastytrade Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Charles Schwab vs tastytrade.

Is Charles Schwab or tastytrade better for beginners?

Charles Schwab offers more comprehensive new investor education for beginner investors than tastytrade. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while tastytrade offers investors access to Education (Stocks), Education (ETFs) and Education (Options). Neither have Paper Trading and Education (Mutual Funds). See our guide to Best Paper Trading Platforms for more.

What about Charles Schwab vs tastytrade pricing?

Charles Schwab and tastytrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Charles Schwab, costing $0.65 per contract versus $0.50 per contract at tastytrade. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Charles Schwab or tastytrade offer a wider range of investment options?

Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while tastytrade offers investors access to Stock Trading, Fractional Shares, Options Trading and Futures Trading. Neither have Forex Trading. Looking at Mutual Funds, tastytrade trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and tastytrade offering 0.

Which trading platform is better: Charles Schwab or tastytrade?

To compare the trading platforms of Charles Schwab and tastytrade, 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while tastytrade offers neither of these.

Is Charles Schwab good?

As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.

Is tastytrade good?

Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

Charles Schwab vs tastytrade Winner

Overall winner: Charles Schwab

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tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Marketing Agent (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. tastytrade was previously known as tastyworks, Inc.

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