Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 4,000 data points, let's compare Charles Schwab vs TradeStation.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation charges more than Charles Schwab for placing regular stock trades ($5.00 and $4.95, respectively). Looking at trading options, Charles Schwab's base fee is $4.95 while TradeStation's is $5.00. TradeStation's per contract rate of $0.50 is less than Charles Schwab which charges $0.65. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Both Charles Schwab and TradeStation support Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Charles Schwab boasts an offering of 5846 mutual funds compared to TradeStation's 4357 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation has virtual trading, Charles Schwab doesn't. Taking a look at mobile trading, Charles Schwab along with TradeStation both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some 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 can have none of these.
Overall, between Charles Schwab and TradeStation, Charles Schwab is the winner
Charles Schwab Review