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Charles Schwab vs Vanguard 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is Charles Schwab better than Vanguard? After testing 18 of the best online brokers, our analysis finds that Charles Schwab (96.6%) is better than Vanguard (80.3%). With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxCiti Self Invest
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxPublic.com
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSoFi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

Compare

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Overall Rating Charles Schwab Vanguard
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 3/5 Stars
Research 5/5 Stars 3.5/5 Stars
Customer Service 4.5/5 Stars 3/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Charles Schwab Review Vanguard Review
Broker Screenshots Charles Schwab Vanguard
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Charles Schwab Vanguard
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $6.95 $0.00
Mutual Fund Trade Fee Varies Varies
Options (Per Contract) $0.65 $1.00
Futures (Per Contract) $2.25 (Not offered)
Broker Assisted Trade Fee $25 $25
Margin Rates Charles Schwab Vanguard
Margin Rate Under $25,000 13.575% 13.75% info
Margin Rate $25,000 to $49,999.99 13.075% 13.25%
Margin Rate $50,000 to $99,999.99 12.125% 12.75%
Margin Rate $100,000 to $249,999.99 12.075% 12.25%
Margin Rate $250,000 to $499,999.99 11.825% 11.75%
Margin Rate $500,000 to $999,999.99 Varies info 10.5%
Margin Rate Above $1,000,000 Varies info Varies info
Account Fees Charles Schwab Vanguard
IRA Annual Fee $0.00 $20.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) info $0.00 $0.00
Account Transfer Out (Full) info $50.00 $0.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Charles Schwab Vanguard
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 15163 N/A
Mutual Funds (Total) info 18145 N/A
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes Yes
International Countries (Stocks) info 13 0
Order Types Charles Schwab Vanguard
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes Yes
Beginners Charles Schwab Vanguard
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes Yes
Retirement Calculator info Yes Yes
Investor Dictionary info Yes No
Paper Trading info No No
Videos info Yes Yes
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Charles Schwab Vanguard
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes No
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No No
Stock App Features Charles Schwab Vanguard
Market Movers (Top Gainers) info Yes No
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes No
Option Chains Viewable info Yes No
Watch List (Real-time) info Yes No
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes No
Watch Lists - Column Customization info Yes No
Watch Lists - Total Fields info 580 9
Stock App Charting Charles Schwab Vanguard
Charting - After-Hours info No No
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 373 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info Yes No
Trading Platforms Charles Schwab Vanguard
Active Trading Platform info thinkorswim info N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info Yes No
Watch Lists - Total Fields info 580 9
Stock Chart Features Charles Schwab Vanguard
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 374 9
Charting - Drawing Tools info 24 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 35 1
Charting - Custom Studies info Yes No
Day Trading Charles Schwab Vanguard
Streaming Time & Sales info Yes No
Streaming TV info Yes No
Direct Market Routing - Stocks info Yes No
Ladder Trading info Yes No
Trade Hot Keys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info No No
Research Overview Charles Schwab Vanguard
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes Yes
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes Yes
Screener - Bonds info Yes Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research Charles Schwab Vanguard
Stock Research - PDF Reports info 7 2
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Charles Schwab Vanguard
ETFs - Strategy Overview info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Charles Schwab Vanguard
Mutual Funds - Strategy Overview info Yes Yes
Mutual Funds - Performance Chart info Yes Yes
Mutual Funds - Performance Analysis info Yes Yes
Mutual Funds - Prospectus info Yes Yes
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes Yes
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes Yes
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes Yes
Options Trading Charles Schwab Vanguard
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 31 9
Option Chains - Greeks info 5 0
Option Chains - Quick Analysis info Yes No
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking Charles Schwab Vanguard
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Charles Schwab Vanguard
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info No No
Live Chat (Current Customers) info Yes No
24/7 Support info Yes No
Overall Charles Schwab Vanguard
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 3/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Charles Schwab Review Vanguard Review
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Charles Schwab vs Vanguard Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Charles Schwab vs Vanguard.

Is Charles Schwab or Vanguard better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that Charles Schwab offers more comprehensive new investor education for beginning investors than Vanguard. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Vanguard offers investors access to Videos, Education (Stocks) and Education (Retirement). Neither have Paper Trading.

What about Charles Schwab vs Vanguard pricing?

Charles Schwab and Vanguard charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Vanguard, costing $1.00 per contract versus $0.65 per contract at Charles Schwab. For futures, Charles Schwab charges $2.25 per contract and Vanguard charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides

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

Looking at a full range of investment options, including order types and international trading, our research has found that Charles Schwab offers a more comprehensive offering than Vanguard. Charles Schwab ranks #2 out of 18 brokers for our Investment Options category, while Vanguard ranks #9.

Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while Vanguard offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services. Neither have Forex Trading Looking at Mutual Funds, Vanguard trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 6085 and Vanguard offering .

Do Charles Schwab and Vanguard offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither Charles Schwab and Vanguard offer crypto trading.

Which trading platform is better: Charles Schwab or Vanguard?

To compare the day trading platforms of Charles Schwab and Vanguard, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Charles Schwab offers a better experience.

Does Charles Schwab or Vanguard offer a better stock trading app?

After testing 25 features across the stock trading apps of Charles Schwab and Vanguard, we found Charles Schwab to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Charles Schwab ranks #4 out of 18 brokers, while Vanguard ranks #18.

Charles Schwab Trading App Gallery

Vanguard Trading App Gallery

Which broker is better for researching stocks?

For research, Charles Schwab offers superior market research than Vanguard. Charles Schwab ranks #N/A and Vanguard ranks #9.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Charles Schwab and Vanguard compare in terms of minimum deposit required?

Charles Schwab requires a minimum deposit of $0.00, while Vanguard requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Charles Schwab charges 13.575% for accounts under $25,000 while Vanguard charges a margin rate of 13.75%. The industry average of the 18 brokers we track is 9%.

Does Charles Schwab offer fractional shares? Does Vanguard?

Fractional shares are not offered by either broker. Our research has found that 39% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Charles Schwab or Vanguard?

Both Charles Schwab and Vanguard allow you to trade penny stocks. Charles Schwab charges $6.95 per trade while Vanguard charges $0.00. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

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 Vanguard offers neither of these.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Charles Schwab was rated 3rd out of 13 brokers, with an overall score of 9.1 out of 10.

Vanguard was rated 6th out of 13 brokers, with an overall score of 8.33 out of 10.

Is Charles Schwab good?

With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.

In the 2024 StockBrokers.com Annual Awards, Charles Schwab was ranked No. 1 for Research, High Net Worth Investors, Bond Research, Desktop Stock Trading Platform, and Trader App. It was among Best in Class for Commissions & Fees, Platforms & Tools, Mobile Trading Apps, Investment Options, Education, Ease of Use, Day Trading, Beginners, Customer Service, Futures Trading, Options Trading, Penny Stock Trading, IRA Accounts and Overall.

Is Vanguard good?

Vanguard is aimed squarely at buy-and-hold investors, and its platform reflects that focus. Vanguard is known for its low-cost funds, and the investment platform is really built for those looking to invest solely in mutual funds and ETFs.

Charles Schwab vs Vanguard Winner

Overall winner: Charles Schwab

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