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Charles Schwab vs TradeStation 2026

StockBrokers.com

Written by StockBrokers.com

September 17, 2025

In this head to head comparison of Charles Schwab vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Charles Schwab
5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
TradeStation
3.5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60

Range of investments

Bottom line: In the Charles Schwab vs TradeStation matchup, Schwab offers the wider mix of investments and support. Schwab earns 4.5/5 stars for Range of Investments and ranks #3 out of 14 brokers on StockBrokers.com, while TradeStation holds 4/5 stars and ranks #6. Both cover most common needs, but Schwab stands out with fractional shares, forex, and advisor services; neither broker offers crypto trading.

Investment options: Both brokers let you trade stocks (including OTC stocks), options, futures, and mutual funds, and both support margin trading. Crypto is unavailable at either firm (0 coins). Key differences are fractional shares—available at Charles Schwab but not at TradeStation—and forex, which Schwab supports while TradeStation does not.

Account choices and guidance: Charles Schwab and TradeStation each offer traditional and Roth IRAs. If you want professional guidance, Schwab provides advisor services, whereas TradeStation does not. Choose Schwab if you value fractional share investing, forex access, or advisory help; pick TradeStation if you’re focused on core markets like stocks, options, futures, mutual funds, and OTC without needing crypto.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes Yes
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026

Trading platforms and tools

Bottom line: for trading platforms and tools, Charles Schwab gets the edge. It’s rated 4.5/5 stars and ranked #1 out of 14 brokers by StockBrokers.com, while TradeStation earns 4/5 stars and ranks #3. Both offer desktop apps for Windows and Mac, a browser platform, and paper trading. Schwab stands out for deeper customization and data coverage, while TradeStation shines with more drawing tools.

Platform access and core functions are a match: Windows and Mac downloads, web trading, and simulated trading on both. Schwab includes a built-in trading journal; TradeStation does not. For watch lists, Schwab supports 580 data columns versus TradeStation’s 341, helpful if you track many metrics. Both let you adjust open orders right on the chart, add notes, view past trades on charts, show earnings, splits, and dividends, set custom date ranges, run automated chart pattern detection, save multiple chart profiles, and create custom studies.

Charting depth tilts toward Schwab on indicators and study controls, while TradeStation offers more drawing tools. Schwab provides 374 technical indicators and 35 editable fields on an SMA study, compared with 294 indicators and 12 fields at TradeStation. If you want a wider set of annotations, TradeStation’s 45 drawing tools top Schwab’s 24. Choose Schwab for extensive indicators, large watch list data, and a built-in journal; pick TradeStation if you prioritize drawing flexibility while keeping strong, cross-platform charting.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info Yes Yes
Paper Trading info Yes Yes
Watchlists - Total Fields info 580 341
Charting - Indicators / Studies info 374 294
Charting - Drawing Tools info 24 45
Advanced Trading 4.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026

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Beginners and education

Charles Schwab vs. TradeStation for beginner and investor education: both brokers offer stock and options education, plus educational videos, webinars, and paper trading. Schwab goes further with ETF, mutual fund, and bond lessons, as well as quizzes and tools to track your learning progress. TradeStation does not cover ETFs, mutual funds, or bonds, and it lacks quizzes and progress tracking. If you want a wide learning center that helps you study, practice, and measure your growth, Schwab stands out. If you mainly want stock and options education with videos, webinars, and a simulator, TradeStation can still fit the bill.

The ratings reflect these gaps: Charles Schwab earns 5 stars for education and ranks #2 out of 14 brokers on StockBrokers.com, while TradeStation earns 2 stars and ranks #14 out of 14. Beginners and long-term investors who want guided learning across stocks, ETFs, mutual funds, and bonds may prefer Schwab; traders focused on options and platform practice may find TradeStation sufficient.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes No
Videos info Yes Yes
Webinars info Yes Yes
Education 5/5 Stars 2/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2026

Stock trading apps

Bottom line: for mobile stock trading, Charles Schwab has the edge over TradeStation. Schwab’s app earns 5 stars and ranks #1 out of 14 brokers on StockBrokers.com, while TradeStation is rated 4 stars and ranks #6. Schwab supports more devices and tools, which makes it the better pick for most people, while TradeStation covers the core features traders need.

Both brokers offer iPhone and Android apps with streaming quotes, mobile options trading, stock alerts, custom watchlists, customizable watchlist columns, and after-hours charting. Schwab also supports Apple Watch and mobile after-hours stock trading. TradeStation does not offer an Apple Watch app, and its mobile after-hours trading availability wasn’t provided. For market content, Schwab includes streaming live TV and videos on demand, while TradeStation does not.

On charts, each app supports multiple time frames, but Schwab adds landscape charting and lets you compare stocks on the same chart. Schwab also includes far more built-in technical studies (373 versus 45 for TradeStation). Both support after-hours charting, but TradeStation lacks landscape mode and stock comparison overlays on mobile.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Stock Alerts info Yes Yes
Charting - After-Hours info Yes Yes
Charting - Technical Studies info 373 45
Mobile Trading Apps 5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Apps for 2026

Fees

Bottom line: In the Charles Schwab vs TradeStation fees comparison, both brokers offer $0 minimum deposits and $0 commissions for online stock trades. TradeStation edges out on the per-contract options fee ($0.60 vs $0.65) and is slightly cheaper on margin under $25,000. However, Schwab is far cheaper on most account and service fees and has lower margin rates from $25,000 to $100,000. That makes Schwab the better overall value for many investors, while TradeStation can appeal to cost-focused options traders.

Core trading costs are straightforward: both charge $0 for regular stock trades and $0 to open an account. Options pricing is $0.65 per contract at Charles Schwab and $0.60 at TradeStation. For margin, under $25,000 balances are 12.58% at Schwab vs 12.5% at TradeStation; between $25,000 and $49,999, Schwab drops to 12.08% while TradeStation stays at 12.5%; between $50,000 and $99,999, Schwab is 11.13% vs TradeStation at 11.5%.

Account and other fees favor Schwab. IRA annual and closure fees are $0 at Charles Schwab, compared with $35 and $50 at TradeStation. Transfer fees are $0 for partial ACATs and $50 for full ACATs at Schwab, vs $125 for both partial and full ACATs at TradeStation. For options events, Schwab charges $0 for both exercise and assignment, while TradeStation charges $14.95 for exercise and $5.95 for assignment.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 $0.60
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00

Dive deeper: Best Free Trading Platforms for 2026

Day Trading

Charles Schwab and TradeStation both offer a range of features that cater to day traders. Both platforms provide streaming time and sales for stocks, direct market routing, ladder trading, keyboard trade entry with hotkeys, and level 2 quotes. Additionally, they support both basic and advanced strategy backtesting, along with a short locator tool to help users find real-time availability of shares available to short by security. However, Charles Schwab distinguishes itself by offering streaming live TV, which is absent on TradeStation, potentially offering traders added insight through continuous market news and analysis.

On the other hand, TradeStation provides an edge with its order liquidity rebates, which Charles Schwab does not offer, appealing to traders who are mindful of transaction costs and liquidity strategies. Both platforms demonstrate strengths that cater to various trading styles, whether you prioritize multimedia resources with Charles Schwab or cost-effective trading on TradeStation. Ultimately, the choice between these two could depend on individual trader preferences for multimedia content versus financial incentives.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Equities info Yes Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes Yes
Short Locator info Yes Yes

Dive deeper: Best Day Trading Platforms of 2026 for Beginners and Active Traders

Market Research

For market research, Charles Schwab clearly outpaces TradeStation. Schwab earns 4.5/5 stars and ranks #2 of 14 brokers on StockBrokers.com, while TradeStation holds 2.5/5 stars and ranks #11. Both cover core stock and ETF research and offer screeners, but Schwab provides wider coverage, more data sources, and more downloadable research.

Charles Schwab offers research for stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds. TradeStation covers stocks, ETFs, and Pink Sheets/OTCBB, but not mutual funds or bonds. Both brokers let you view portfolio allocation by asset class. For trade ideas, both include stock and ETF screeners; only Schwab adds mutual fund and bond screeners.

Schwab also includes stock research using social media sentiment, ESG research, and more reports: seven downloadable PDF stock reports plus PDF reports for ETFs (no mutual fund PDFs). TradeStation does not provide social sentiment or ESG research and offers no downloadable PDF reports for stocks, ETFs, or mutual funds. In short, Charles Schwab is better for investors who want deeper research across more asset types, while TradeStation fits those who just need the basics.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Fixed Income info Yes No
Screener - Fixed Income info Yes No
Research 4.5/5 Stars 2.5/5 Stars

Banking

When comparing Charles Schwab and TradeStation for their banking features, Charles Schwab clearly stands out. Charles Schwab provides a comprehensive range of banking services, including checking and savings accounts, which TradeStation does not offer. Schwab customers can also benefit from debit and credit cards to manage their finances more flexibly, whereas TradeStation lacks these options. Additionally, for those interested in securing mortgage loans, Charles Schwab delivers this service, unlike TradeStation. Charles Schwab further enhances their banking offerings by providing certificates of deposit (CDs), offering more ways for customers to manage and grow their savings, which TradeStation does not offer. Overall, Charles Schwab offers a more complete banking experience compared to TradeStation.

Feature Charles Schwab logoCharles Schwab
TradeStation logoTradeStation
Checking Accounts info Yes No
Savings Accounts info Yes No
Debit Cards info Yes No
Credit Cards info Yes No
Mortgage Loans info Yes No
Brokerage CDs info Yes No

Dive deeper: Best Brokerage Checking Accounts for 2026

Winner

After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Charles Schwab is better than TradeStation. Charles Schwab finished with an overall score of 93.3%, while TradeStation finished with a score of 68.4%.

For most investors, the search for a great broker ends with Charles Schwab. Retaining the #1 Overall ranking in 2026, Schwab continues to set the industry standard. The broker uniquely balances scale with sophistication, offering both simplified mobile tools and the professional-grade thinkorswim platform. From buying a first fractional share to managing a multimillion-dollar estate, Schwab provides a platform tailored to every need, serving as the definitive operating system for modern wealth.

FAQs

Can you trade cryptocurrency with Charles Schwab or TradeStation?

Both Charles Schwab and TradeStation do not offer crypto trading, providing zero coins for cryptocurrency transactions to their users, making them equally non-viable options for investors seeking to engage in crypto trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2026

Does Charles Schwab or TradeStation offer IRAs?

Both Charles Schwab and TradeStation offer traditional and Roth IRA accounts, but Charles Schwab stands out with no annual or closure fees, whereas TradeStation charges a $35 annual fee and a $50 closure fee for IRA accounts.

Dive deeper: Best IRA Accounts for 2026

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Compare

0 of 5
Overall Rating Charles Schwab TradeStation
Overall 5/5 Stars 3.5/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Advanced Trading 4.5/5 Stars 4/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 2.5/5 Stars
Customer Service 4.5/5 Stars 4.0/5 Stars
Education 5/5 Stars 2/5 Stars
Ease of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Charles Schwab Review TradeStation Review
Broker Screenshots Charles Schwab TradeStation
Broker Gallery (click to expand)
Trading Fees Charles Schwab TradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $6.95 $0.01 info
Mutual Fund Trade Fee info Varies $14.95
Options (Per Contract) info $0.65 $0.60
Futures (Per Contract) info $2.25 $1.50
Broker Assisted Trade Fee info $25 $25
Margin Rates Charles Schwab TradeStation
Margin Rate Under $25,000 info 12.58% 12.5%
Margin Rate $25,000 to $49,999.99 info 12.08% 12.5%
Margin Rate $50,000 to $99,999.99 info 11.13% 11.5%
Margin Rate $100,000 to $249,999.99 info 11.08% 11.5%
Margin Rate $250,000 to $499,999.99 info 10.83% 12.0%
Margin Rate $500,000 to $999,999.99 info Varies info 7.5% info
Margin Rate Above $1,000,000 info Varies info 7.5% info
Account Fees Charles Schwab TradeStation
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00
Account Transfer Out (Partial) info $0.00 $125.00
Account Transfer Out (Full) info $50.00 $125.00
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
Investment Options Charles Schwab TradeStation
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes Yes
Forex Trading info Yes No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Fixed Income (Treasurys) info Yes No
Fixed Income (Corporate Bonds) info Yes No
Fixed Income (Municipal Bonds) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 12 0
Order Types Charles Schwab TradeStation
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Charles Schwab TradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes No
Paper Trading info Yes Yes
Videos info Yes Yes
Webinars info Yes Yes
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Charles Schwab TradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Charles Schwab TradeStation
Mobile Research - Market Movers info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watchlist (Real-time) info Yes Yes
Watchlist (Streaming) info Yes Yes
Mobile Watchlists - Create & Manage info Yes Yes
Mobile Watchlists - Column Customization info Yes Yes
Stock App Charting Charles Schwab TradeStation
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 373 45
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes No
Trading Platforms Charles Schwab TradeStation
Active Trading Platform info thinkorswim info TradeStation 10
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info Yes Yes
Web Trading Platform info Yes Yes
Paper Trading info Yes Yes
Trade Journal info Yes No
Watchlists - Total Fields info 580 341
Stock Chart Features Charles Schwab TradeStation
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 374 294
Charting - Drawing Tools info 24 45
Charting - Notes info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 35 12
Charting - Custom Studies info Yes Yes
Day Trading Charles Schwab TradeStation
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Equities info Yes Yes
Ladder Trading info Yes Yes
Trade Hot Keys info Yes Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes Yes
Short Locator info Yes Yes
Order Liquidity Rebates info No Yes
Research Overview Charles Schwab TradeStation
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Fixed Income info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes No
Screener - Fixed Income info Yes No
Portfolio Asset Allocation info Yes Yes
Stock Research Charles Schwab TradeStation
Stock Research - PDF Reports info 7 0
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Charles Schwab TradeStation
ETFs - Investment Objective info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Total Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Charles Schwab TradeStation
Mutual Funds - Investment Objective info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Charles Schwab TradeStation
Option Chains - Total Greeks info 5 5
Option Analysis - P&L Charts info Yes Yes
Banking Charles Schwab TradeStation
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Charles Schwab TradeStation
Phone Support (Prospective Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospective Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes No
Overall Charles Schwab TradeStation
Overall 5/5 Stars 3.5/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Advanced Trading 4.5/5 Stars 4/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 2.5/5 Stars
Education 5/5 Stars 2/5 Stars
Ease of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Charles Schwab Review TradeStation Review
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