The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Charles Schwab vs TradeStation Securities. Is Charles Schwab or TradeStation Securities a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. TradeStation Securities charges $5.00 per stock trade which is $0.05 more than Charles Schwab which charges customers $4.95 per trade. With options, the base fees charged are $5.00 (TradeStation Securities) and $4.95 (Charles Schwab). TradeStation Securities's per contract rate of $0.50 is less than Charles Schwab which charges $0.65. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Charles Schwab alongside TradeStation Securities offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Charles Schwab boasts an offering of 5165 mutual funds compared to TradeStation Securities's 4854 available funds. Commission free ETFs can also be a nice plus, with TradeStation Securities falling behind Charles Schwab, offering 0 commission free ETFs compared to Charles Schwab's 229.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation Securities makes virtual trading available to clients, while Charles Schwab does not. For mobile trading, Both Charles Schwab and TradeStation Securities offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Charles Schwab while customers at TradeStation Securities can have none of these. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab posted awards Best in Class - Platforms & Tools and Best in Class - Research in 2017, while TradeStation Securities found itself with Best in Class - Platforms & Tools.
Overall, Charles Schwab comes out on top with 4.50 stars over TradeStation Securities's 3.50 stars.