Charles Schwab vs TradeStation 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.
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.
When it comes to investment options, Charles Schwab edges out TradeStation with a wider range of offerings, earning it a higher rating and rank. Charles Schwab is rated 5 stars and ranked #2 out of 14 brokers by StockBrokers.com for its range of investments. In contrast, TradeStation receives a 4.5-star rating and is ranked #5. The standout difference lies in fractional shares and forex trading, both of which Charles Schwab provides, while TradeStation does not. Additionally, Charles Schwab offers advisor services, which TradeStation lacks, adding further value for those seeking professional guidance.
Both Charles Schwab and TradeStation offer a comprehensive range of investment options, including stock trading, margin trading, OTC stocks, mutual funds, options trading, futures trading, and traditional and Roth IRA accounts. However, TradeStation does not offer fractional shares or forex trading, which may limit the choices for more diversified investors. On the other hand, Charles Schwab covers these categories, making it a more versatile choice for investors seeking expansive options.
One area where neither broker excels is crypto trading; neither Charles Schwab nor TradeStation offers this option, with both brokers providing zero coins for trading. While both platforms offer solid choices for traditional investment accounts, those looking to venture into cryptocurrency will need to seek other platforms. Ultimately, Charles Schwab provides a somewhat broader spectrum of investment possibilities, satisfying a wide array of investment preferences and strategies.
Feature |
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|
---|---|---|
Stock Trading | Yes | Yes |
Account Feature - Margin Trading | Yes | Yes |
Fractional Shares (Stocks) | Yes | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | Yes | Yes |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When choosing between Charles Schwab and TradeStation for your trading platform needs, Charles Schwab emerges as the more comprehensive option. With the ability to operate on both Windows and Mac systems and providing extensive features like 580 watch list fields and 374 technical indicators, Charles Schwab scores a perfect 5-star rating. Positioned as the top choice among 14 brokers by StockBrokers.com, its offerings are hard to overlook. While TradeStation also delivers a great experience with a 4.5-star rating and ranks third, it falls short slightly in comparison to Schwab.
Both Charles Schwab and TradeStation offer Windows desktop downloadable trading platforms, with Schwab also accommodating Mac users. Their browser-based platforms ensure accessibility across devices, and they both include paper trading features. While both platforms offer the convenience of adjusting open orders directly on stock charts, only Charles Schwab provides a trading journal, giving users a comprehensive tool to track and refine their strategies. Schwab also excels in customization features, providing 35 fields when editing an SMA study compared to TradeStation's 12.
When it comes to charting tools, Charles Schwab again takes the lead with 374 technical indicators and 24 drawing tools, compared to TradeStation’s 294 indicators and 23 tools. Both platforms allow users to add notes, show historical trades, and display corporate events on charts. They also support custom date ranges and automated technical analysis. Each platform permits the creation and saving of custom studies and multiple chart profiles, ensuring a tailored user experience. However, Schwab's edge in customization and broader feature range makes it a standout choice for traders seeking versatility and robust analysis capabilities.
Feature |
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|
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | Yes |
Desktop Platform (Mac) | Yes | No |
Paper Trading | Yes | Yes |
Watch Lists - Total Fields | 580 | 341 |
Charting - Indicators / Studies | 374 | 294 |
Charting - Drawing Tools | 24 | 23 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
When it comes to investor education, Charles Schwab stands out with a comprehensive offering that makes it a top choice for beginners. Schwab provides in-depth stock, ETF, options, mutual funds, and bonds education. Moreover, it offers practical tools like paper trading, educational videos, webinars, and quizzes to help users deepen their understanding. The added feature of tracking learning progress ensures that users can effectively monitor their education journey. Schwab's commitment to investor education has earned it a 5-star rating and the top spot in education rankings by StockBrokers.com.
TradeStation, on the other hand, offers a mixed bag for educational resources. While it provides stock and options education along with paper trading, educational videos, and webinars, there are gaps in its offerings. Notably, it does not cover ETFs, mutual funds, or bonds education. Furthermore, TradeStation lacks educational quizzes and a learning progress tracker, which might limit a beginner's educational experience. As a result, TradeStation has been rated 3 stars for education, ranking 13th out of 14 brokers reviewed by StockBrokers.com. This makes it a less appealing choice for those new to investing.
Feature |
|
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | No |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Fixed Income) | Yes | No |
Paper Trading | Yes | Yes |
Videos | Yes | Yes |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
In the world of stock trading apps, Charles Schwab and TradeStation both offer competitive features, but Schwab holds a slight edge in overall ratings and features. Charles Schwab's stock trading app is rated 5 stars and holds the #1 rank out of 14 brokers according to StockBrokers.com, whereas TradeStation is rated 4.5 stars, ranking 8th. Schwab's app is available on iPhone, Android, and even extends to the Apple Watch, providing flexibility for users. In contrast, while TradeStation is available on iPhone and Android, it lacks Apple Watch compatibility.
Both brokers allow mobile options trading, offer streaming quotes, and empower users to create and customize watch lists. However, Charles Schwab stands out by providing extra features such as streaming live TV and on-demand videos, which TradeStation does not. Moreover, in terms of charting capabilities, Schwab offers 373 technical studies and enables stock comparison charts, while TradeStation provides 45 technical studies and does not support stock comparisons on charts.
Although both apps support after-hours stock trading, their charting functionalities differ. TradeStation permits after-hours charting, unlike Schwab, but it falls short by not offering charts in landscape mode, a feature available on Schwab's app. Additionally, both apps permit viewing multiple time frames for charting, giving users a comprehensive trading experience. Ultimately, Charles Schwab's app appears to provide a more feature-packed experience overall, particularly for users seeking advanced charting and multimedia features.
Feature |
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | Yes | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | No | Yes |
Charting - Technical Studies | 373 | 45 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
If you're considering Charles Schwab versus TradeStation for your investment needs, understanding the nuances in their fee structures can influence your decision. Both platforms offer a $0 account minimum and charge $0 for regular stock trades, making them equally accessible for stock trading. However, distinctions arise in other areas, such as options trading and margin interest rates. Schwab charges slightly more for options contracts at $0.65 compared to TradeStation's $0.60. For margin balances below $25,000, Schwab applies a rate of 13.575%, slightly higher than TradeStation's 13.0%. Thus, while both brokers provide cost-effective trading options, Schwab often offers additional savings with deeper account requirements.
When it comes to retirement accounts, Charles Schwab has a distinct advantage, waiving its IRA annual and closure fees entirely. Conversely, TradeStation imposes a $35 annual maintenance fee and a $50 closure fee for IRAs. If retirement investing is your priority, Schwab’s fee waivers for these services could be a crucial consideration, especially for those focused on minimizing long-term account management costs.
Account transfer costs and other miscellaneous fees further differentiate the two brokers. Schwab stands out with its $0 fee for partial account transfers, although it charges $50 for full transfers. TradeStation's fees are notably higher across the board, charging $125 for both partial and full account transfers. Additionally, Charles Schwab does not impose fees for options exercise and assignment, whereas TradeStation charges $14.95 for exercises and $5.95 for assignments. These differences highlight Schwab’s appeal for reducing extra charges, making it a more budget-friendly choice for investors mindful of transfer and incidental fees.
Feature |
|
|
---|---|---|
Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.60 |
Options Exercise Fee | $0.00 | $14.95 |
Options Assignment Fee | $0.00 | $5.95 |
IRA Annual Fee | $0.00 | $35.00 |
IRA Closure Fee | $0.00 | $50.00 |
Dive deeper: Best Free Trading Platforms for 2025
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 |
|
|
---|---|---|
Streaming Time & Sales | Yes | Yes |
Streaming TV | Yes | No |
Direct Market Routing - Equities | Yes | Yes |
Level 2 Quotes - Stocks | Yes | Yes |
Trade Ideas - Backtesting | Yes | Yes |
Trade Ideas - Backtesting Adv | Yes | Yes |
Short Locator | Yes | Yes |
Dive deeper: Best Day Trading Platforms for 2025
Charles Schwab stands out as a premier choice for market research among online brokers, offering a comprehensive range of tools and resources that clearly surpass what TradeStation offers. Ranked #1 by StockBrokers.com for market research, Schwab's capability to provide in-depth analysis across various investment vehicles, including stocks, ETFs, mutual funds, and bonds, gives it a strong edge. TradeStation, on the other hand, is ranked at #11, with a 2-star rating for market research compared to Schwab's 5-star accolade, reflecting its limited resources, particularly in mutual funds and bonds research.
Both Charles Schwab and TradeStation provide stock research and insights into ETFs, but Schwab extends support to mutual funds, where TradeStation does not. Additionally, Schwab offers specialized tools such as social media sentiment data and ESG research, which are not available from TradeStation. Schwab not only provides more assets for research but also outfits users with seven downloadable PDF reports for stocks, while TradeStation provides none. This report availability extends to ETFs and mutual funds, further enhancing Schwab’s research capabilities.
Investors looking to explore potential trade ideas will appreciate Schwab’s extensive screeners for stocks, ETFs, mutual funds, and bonds. While TradeStation provides a stock screener, it lacks the depth provided by Schwab's additional tools. Furthermore, Schwab enhances portfolio oversight through its ability to show allocation by asset class, offering a more nuanced understanding of investments. For those prioritizing a comprehensive market research package, Charles Schwab is the clear leader, offering far superior insights and tools than TradeStation.
Feature |
|
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | No |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | Yes | No |
Research - Fixed Income | Yes | No |
Screener - Fixed Income | Yes | No |
Research |
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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 |
|
|
---|---|---|
Checking Accounts | Yes | No |
Savings Accounts | Yes | No |
Debit Cards | Yes | No |
Credit Cards | Yes | No |
Mortgage Loans | Yes | No |
Brokerage CDs | Yes | No |
Dive deeper: Best Brokerage Checking Accounts for 2025
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 99.2%, while TradeStation finished with a score of 80.2%.
With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.
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 2025
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 2025
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0 of 5Overall Rating | Charles Schwab | TradeStation | |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | TradeStation Review |
Broker Screenshots | Charles Schwab | TradeStation | |
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Broker Gallery (click to expand) |
Trading Fees | Charles Schwab | TradeStation | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $6.95 | $0.01 | |
Mutual Fund Trade Fee | Varies | $14.95 | |
Options (Per Contract) | $0.65 | $0.60 | |
Futures (Per Contract) | $2.25 | $1.50 | |
Broker Assisted Trade Fee | $25 | $25 |
Margin Rates | Charles Schwab | TradeStation | |
---|---|---|---|
Margin Rate Under $25,000 | 13.575% | 13.0% | |
Margin Rate $25,000 to $49,999.99 | 13.075% | 13.0% | |
Margin Rate $50,000 to $99,999.99 | 12.125% | 12.5% | |
Margin Rate $100,000 to $249,999.99 | 12.075% | 12.0% | |
Margin Rate $250,000 to $499,999.99 | 11.825% | 12.0% | |
Margin Rate $500,000 to $999,999.99 | Varies | 7.5% | |
Margin Rate Above $1,000,000 | Varies | 7.5% |
Account Fees | Charles Schwab | TradeStation | |
---|---|---|---|
IRA Annual Fee | $0.00 | $35.00 | |
IRA Closure Fee | $0.00 | $50.00 | |
Account Transfer Out (Partial) | $0.00 | $125.00 | |
Account Transfer Out (Full) | $50.00 | $125.00 | |
Options Exercise Fee | $0.00 | $14.95 | |
Options Assignment Fee | $0.00 | $5.95 |
Investment Options | Charles Schwab | TradeStation | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Account Feature - Margin Trading | Yes | Yes | |
Fractional Shares (Stocks) | Yes | No | |
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 | |
Fixed Income (Treasurys) | Yes | Yes | |
Fixed Income (Corporate Bonds) | Yes | Yes | |
Fixed Income (Municipal Bonds) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | No | |
International Countries (Stocks) | 12 | 0 |
Order Types | Charles Schwab | TradeStation | |
---|---|---|---|
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 |
Beginners | Charles Schwab | TradeStation | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | No | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | No | |
Education (Fixed Income) | Yes | No | |
Education (Retirement) | Yes | No | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | No | |
Paper Trading | Yes | Yes | |
Videos | Yes | Yes | |
Webinars | Yes | Yes | |
Progress Tracking | Yes | No | |
Interactive Learning - Quizzes | Yes | No |
Stock Trading Apps | Charles Schwab | TradeStation | |
---|---|---|---|
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 | Yes | Yes |
Stock App Features | Charles Schwab | TradeStation | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | Yes | No | |
Videos on Demand | Yes | No | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | Yes |
Stock App Charting | Charles Schwab | TradeStation | |
---|---|---|---|
Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 373 | 45 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | Yes | No |
Trading Platforms | Charles Schwab | TradeStation | |
---|---|---|---|
Active Trading Platform | thinkorswim | TradeStation 10 | |
Desktop Trading Platform | Yes | Yes | |
Desktop Platform (Mac) | Yes | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | Yes | Yes | |
Trade Journal | Yes | No | |
Watch Lists - Total Fields | 580 | 341 |
Stock Chart Features | Charles Schwab | TradeStation | |
---|---|---|---|
Charting - Adjust Trades on Chart | Yes | Yes | |
Charting - Indicators / Studies | 374 | 294 | |
Charting - Drawing Tools | 24 | 23 | |
Charting - Notes | Yes | Yes | |
Charting - Historical Trades | Yes | Yes | |
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 | 35 | 12 | |
Charting - Custom Studies | Yes | Yes |
Day Trading | Charles Schwab | TradeStation | |
---|---|---|---|
Streaming Time & Sales | Yes | Yes | |
Streaming TV | Yes | No | |
Direct Market Routing - Equities | Yes | Yes | |
Ladder Trading | Yes | Yes | |
Trade Hot Keys | Yes | Yes | |
Level 2 Quotes - Stocks | Yes | Yes | |
Trade Ideas - Backtesting | Yes | Yes | |
Trade Ideas - Backtesting Adv | Yes | Yes | |
Short Locator | Yes | Yes | |
Order Liquidity Rebates | No | Yes |
Research Overview | Charles Schwab | TradeStation | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Fixed Income | Yes | No | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | Yes | No | |
Screener - Fixed Income | Yes | No | |
Portfolio Asset Allocation | Yes | Yes |
Stock Research | Charles Schwab | TradeStation | |
---|---|---|---|
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 | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Charles Schwab | TradeStation | |
---|---|---|---|
ETFs - Investment Objective | Yes | No | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | No | |
ETF Fund Facts - Total 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 | No | |
ETFs - Ratings | Yes | No | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Charles Schwab | TradeStation | |
---|---|---|---|
Mutual Funds - Investment Objective | 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 | Yes | |
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 Trading | Charles Schwab | TradeStation | |
---|---|---|---|
Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | Yes |
Banking | Charles Schwab | TradeStation | |
---|---|---|---|
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 Service | Charles Schwab | TradeStation | |
---|---|---|---|
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 |
Overall | Charles Schwab | TradeStation | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | TradeStation Review |