The StockBrokers.com annual broker review assesses more than a dozen 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 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 Securities's is $5.00. Each option contract then costs $0.65 at Charles Schwab and $0.50 at TradeStation Securities. 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 offers its clients access to 5509 different mutual funds while TradeStation Securities has 4951 available funds, a difference of 558. Commission free ETFs can also be a nice plus, Charles Schwab offers 244 commission free ETFs versus TradeStation Securities's total of 0.
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 offers virtual trading 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Charles Schwab while TradeStation Securities offers customers 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 2018, while TradeStation Securities found itself with Best in Class - Platforms & Tools.
Overall, Charles Schwab boasts 4.50 stars versus TradeStation Securities's 4.00 stars.