Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Charles Schwab vs TradeStation Securities to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Charles Schwab and TradeStation Securities.
First we will break down the commission charges of both brokers for placing stock and options trades. TradeStation Securities, with its regular stock trades costing $5.00, is more expensive than Charles Schwab's rate of $4.95 per trade. Looking at trading options, Charles Schwab's base fee is $4.95 while TradeStation Securities's is $5.00. Each contract then costs $0.65 at Charles Schwab and $0.50 at TradeStation Securities for a difference in price of $0.15 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Charles Schwab and TradeStation Securities provide clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, TradeStation Securities trails Charles Schwab by 311.00 total funds, with Charles Schwab offering 5165 and TradeStation Securities offering 4854. And, commission free ETFs deserve a mention, Charles Schwab offers 229 versus TradeStation Securities's total of 0.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. TradeStation Securities has virtual trading, Charles Schwab doesn't. For mobile trading, Both Charles Schwab and TradeStation Securities offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while TradeStation Securities offers none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, Charles Schwab was rated for Best in Class - Platforms & Tools and Best in Class - Research in 2014, while TradeStation Securities was rated for Best in Class - Platforms & Tools.
Overall, Charles Schwab comes out on top with 4.50 stars over TradeStation Securities's 3.50 stars.