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Charles Schwab vs TradeStation 2022

Is Charles Schwab better than TradeStation? After testing 15 of the best online brokers over six months, Charles Schwab (89.63%) is better than TradeStation (73.22%). With nearly $8 trillion in client assets, Charles Schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services.

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Overall Rating expand_moreexpand_less Charles Schwab TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstar_borderstar_borderstar_border
Customer Service starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Review Charles Schwab Review TradeStation Review
Trading Fees expand_moreexpand_less Charles Schwab TradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee $49.95 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $2.25 $1.50
Broker Assisted Trade Fee $25.00 $0.00
Margin Rates expand_moreexpand_less Charles Schwab TradeStation
Margin Rate Under $24,999.99 8.33% 9.50%
Margin Rate $25,000.00 to $49,999.99 7.83% 9.50%
Margin Rate $50,000.00 to $99,999.99 6.88% 8.75%
Margin Rate $100,000.00 to $249,999.99 6.83% 8.75%
Margin Rate $250,000.00 to $499,999.99 6.58% 8.75%
Margin Rate $500,000.00 to $999,999.99 5.08% 5.50%
Margin Rate Above $1,000,000.00 4.75% 5.50%
Account Fees expand_moreexpand_less Charles Schwab TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $50.00
Account Transfer Out (Partial) $25.00 $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 expand_moreexpand_less Charles Schwab TradeStation
Stock Trading Yes Yes
Fractional Shares Yes No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 4
Mutual Funds (No Load) 7537 887
Mutual Funds (Total) 10228 4357
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes No
International Countries (Stocks) 28 0
Order Types expand_moreexpand_less 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 expand_moreexpand_less Charles Schwab TradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes No
Paper Trading No Yes
Videos Yes Yes
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading Apps expand_moreexpand_less Charles Schwab TradeStation
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
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 No Yes
Stock App Features expand_moreexpand_less Charles Schwab TradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts No Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) No Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No Yes
Watch Lists - Total Fields 130 335
Stock App Charting expand_moreexpand_less Charles Schwab TradeStation
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 32 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading Platforms expand_moreexpand_less Charles Schwab TradeStation
Desktop Trading Platform Yes Yes
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal Yes No
Watch Lists - Total Fields 130 335
Stock Chart Features expand_moreexpand_less Charles Schwab TradeStation
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 41 290
Charting - Drawing Tools 15 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades No Yes
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 7 12
Charting - Custom Studies No Yes
Day Trading expand_moreexpand_less Charles Schwab TradeStation
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes Yes
Ladder Trading No Yes
Trade Hot Keys Yes Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv No Yes
Short Locator Yes Yes
Order Liquidity Rebates No Yes
Research Overview expand_moreexpand_less Charles Schwab TradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock Research expand_moreexpand_less Charles Schwab TradeStation
Stock Research - PDF Reports 8 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF Research expand_moreexpand_less Charles Schwab TradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net 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 expand_moreexpand_less Charles Schwab TradeStation
Mutual Funds - Strategy Overview 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 No
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 expand_moreexpand_less Charles Schwab TradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 44 32
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
Banking expand_moreexpand_less 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 expand_moreexpand_less Charles Schwab TradeStation
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) No No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
Overall expand_moreexpand_less Charles Schwab TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstar_borderstar_borderstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Charles Schwab vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Charles Schwab vs TradeStation.

Is Charles Schwab or TradeStation better for beginners?

Charles Schwab offers more comprehensive new investor education for beginner investors than TradeStation. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about Charles Schwab vs TradeStation pricing?

Charles Schwab and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Charles Schwab, costing $0.65 per contract versus $0.00 per contract at TradeStation. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Charles Schwab or TradeStation offer a wider range of investment options?

Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, neither have Forex Trading. Looking at Mutual Funds, TradeStation trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 4294 and TradeStation offering 0.

Which trading platform is better: Charles Schwab or TradeStation?

To compare the trading platforms of Charles Schwab and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found TradeStation to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while TradeStation offers neither of these.

Is Charles Schwab good?

With nearly $8 trillion in client assets, Charles Schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services.

Is TradeStation good?

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

Charles Schwab vs TradeStation Winner

Overall winner: Charles Schwab

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