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TD Ameritrade vs Charles Schwab 2023

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Written by StockBrokers.com

April 11, 2023

Is TD Ameritrade better than Charles Schwab? After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than Charles Schwab (94.51%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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Overall RatingTD AmeritradeCharles Schwab
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4.5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Charles Schwab Review
Trading FeesTD AmeritradeCharles Schwab
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 $6.95
Mutual Fund Trade Fee Varies Varies
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $2.25 $2.25
Broker Assisted Trade Fee $25 $25
Margin RatesTD AmeritradeCharles Schwab
Margin Rate Under $25,000 14.25% info 13.08%
Margin Rate $25,000 to $49,999.99 13.75% 12.58%
Margin Rate $50,000 to $99,999.99 12.75% 11.63%
Margin Rate $100,000 to $249,999.99 12.50% 11.58%
Margin Rate $250,000 to $499,999.99 12.25% 11.33%
Margin Rate $500,000 to $999,999.99 Varies info Varies info
Margin Rate Above $1,000,000 Varies info Varies info
Account FeesTD AmeritradeCharles Schwab
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $0.00 $25.00
Account Transfer Out (Full) $75.00 $50.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsTD AmeritradeCharles Schwab
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes Yes
Forex Trading Yes No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 3698 14996
Mutual Funds (Total) 5876 17912
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 0 12
Order TypesTD AmeritradeCharles Schwab
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 Yes
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersTD AmeritradeCharles Schwab
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsTD AmeritradeCharles Schwab
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
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 Yes No
SB Gallery - Mobile Apps
Stock App FeaturesTD AmeritradeCharles Schwab
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes Yes
Videos on Demand Yes Yes
Stock Alerts Yes No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes No
Watch Lists - Total Fields 514 130
Stock App ChartingTD AmeritradeCharles Schwab
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 400 32
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsTD AmeritradeCharles Schwab
Active Trading Platform thinkorswim StreetSmart Edge
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes Yes
Watch Lists - Total Fields 514 130
Stock Chart FeaturesTD AmeritradeCharles Schwab
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 429 41
Charting - Drawing Tools 24 15
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes No
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 9 7
Charting - Custom Studies Yes No
Day TradingTD AmeritradeCharles Schwab
Streaming Time & Sales Yes Yes
Streaming TV Yes Yes
Direct Market Routing - Stocks Yes Yes
Ladder Trading Yes No
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv Yes No
Short Locator No Yes
Order Liquidity Rebates No No
Research OverviewTD AmeritradeCharles Schwab
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock ResearchTD AmeritradeCharles Schwab
Stock Research - PDF Reports 6 7
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes Yes
Stock Research - News Yes Yes
Stock Research - ESG No Yes
Stock Research - SEC Filings Yes Yes
ETF ResearchTD AmeritradeCharles Schwab
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings No Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes Yes
ETFs - PDF Reports Yes Yes
Mutual Fund ResearchTD AmeritradeCharles Schwab
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart Yes Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings Yes Yes
Mutual Funds - Fees Breakdown Yes Yes
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes Yes
Mutual Funds - Sector Allocation Yes Yes
Mutual Funds - Country Allocation No Yes
Mutual Funds - StyleMap Yes Yes
Options TradingTD AmeritradeCharles Schwab
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 35 44
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
BankingTD AmeritradeCharles Schwab
Bank (Member FDIC) No Yes
Checking Accounts Yes Yes
Savings Accounts No Yes
Credit Cards Yes Yes
Debit Cards Yes Yes
Mortgage Loans No Yes
Customer ServiceTD AmeritradeCharles Schwab
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallTD AmeritradeCharles Schwab
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Charles Schwab Review
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TD Ameritrade vs Charles Schwab 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 TD Ameritrade vs Charles Schwab.

Is TD Ameritrade or Charles Schwab better for beginners?

TD Ameritrade offers more comprehensive new investor education for beginner investors than Charles Schwab. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement). See our guide to Best Paper Trading Platforms for more.

What about TD Ameritrade vs Charles Schwab pricing?

TD Ameritrade and Charles Schwab charge the same amount for regular stock trades, $0.00. TD Ameritrade and Charles Schwab both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

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

TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services. Looking at Mutual Funds, TD Ameritrade trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and TD Ameritrade offering 3610.

Which trading platform is better: TD Ameritrade or Charles Schwab?

To compare the trading platforms of TD Ameritrade and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found TD Ameritrade 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, Debit Cards and Credit Cards are offered by TD Ameritrade while Charles Schwab offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is TD Ameritrade good?

TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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.

TD Ameritrade vs Charles Schwab Winner

Overall winner: TD Ameritrade

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