Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Charles Schwab vs TradeStation Securities to determine which broker is best. Let's dive in.
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. With options, the base fees charged are $5.00 (TradeStation Securities) and $4.95 (Charles Schwab). Each option contract then costs $0.65 at Charles Schwab and $0.50 at TradeStation Securities. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Charles Schwab alongside TradeStation Securities offer clients Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Charles Schwab boasts an offering of 5165 mutual funds compared to TradeStation Securities's 4854 available funds. And, commission free ETFs deserve a comparison, with Charles Schwab having the upper hand thanks to its 229 available commission free ETFs compared to TradeStation Securities's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation Securities makes virtual trading available to clients, while Charles Schwab does not. For mobile trading, Charles Schwab and TradeStation Securities both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service 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 factors considered, when it comes to platform tools, research, and mobile trading, Charles Schwab posted awards Best in Class - Platforms & Tools and Best in Class - Research in 2017, while TradeStation Securities found itself with Best in Class - Platforms & Tools.
Overall, Charles Schwab boasts 4.50 stars versus TradeStation Securities's 3.50 stars.