StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.
Written by StockBrokers.com
January 31, 2024
Is Charles Schwab better than Interactive Brokers? After testing 18 of the best online brokers, our analysis finds that Charles Schwab (96.6%) is better than Interactive Brokers (93.5%). 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.
Select Brokers
↓×
- 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
navigate_beforenavigate_next
Overall Rating | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Charles Schwab Review | Interactive Brokers Review |
Broker Screenshots | Charles Schwab | Interactive Brokers | |
---|---|---|---|
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 | Interactive Brokers | |
---|---|---|---|
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 | $14.95 | |
Options (Per Contract) | $0.65 | $0.65 | |
Futures (Per Contract) | $2.25 | $0.85 | |
Broker Assisted Trade Fee | $25 | $30 |
Margin Rates | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Margin Rate Under $25,000 | 13.575% | 7.83% info | |
Margin Rate $25,000 to $49,999.99 | 13.075% | 7.83% info | |
Margin Rate $50,000 to $99,999.99 | 12.125% | 7.83% info | |
Margin Rate $100,000 to $249,999.99 | 12.075% | 7.83% info | |
Margin Rate $250,000 to $499,999.99 | 11.825% | 7.83% info | |
Margin Rate $500,000 to $999,999.99 | Varies info | 7.83% info | |
Margin Rate Above $1,000,000 | Varies info | 7.83% info |
Account Fees | Charles Schwab | Interactive Brokers | |
---|---|---|---|
IRA Annual Fee | $0.00 | $0.00 | |
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 | Interactive Brokers | |
---|---|---|---|
Stock Tradinginfo | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Sharesinfo | Yes | Yes | |
OTC Stocksinfo | Yes | Yes | |
Options Tradinginfo | Yes | Yes | |
Complex Options Max Legsinfo | 4 | 6 | |
Futures Tradinginfo | Yes | Yes | |
Forex Tradinginfo | No | Yes | |
Crypto Tradinginfo | No | Yes | |
Crypto Trading - Total Coinsinfo | 0 | 4 | |
Mutual Funds (No Load)info | 15163 | 10988 | |
Mutual Funds (Total)info | 18145 | 11456 | |
Bonds (US Treasury)info | Yes | Yes | |
Bonds (Corporate)info | Yes | Yes | |
Bonds (Municipal)info | Yes | Yes | |
Traditional IRAsinfo | Yes | Yes | |
Roth IRAsinfo | Yes | Yes | |
Advisor Servicesinfo | Yes | No | |
International Countries (Stocks)info | 13 | 33 |
Order Types | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Order Type - Marketinfo | Yes | Yes | |
Order Type - Limitinfo | Yes | Yes | |
Order Type - After Hoursinfo | Yes | Yes | |
Order Type - Stopinfo | Yes | Yes | |
Order Type - Trailing Stopinfo | Yes | Yes | |
Order Type - OCOinfo | Yes | Yes | |
Order Type - OTOinfo | Yes | Yes | |
Order Type - Broker Assistedinfo | Yes | Yes |
Beginners | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Education (Stocks)info | Yes | Yes | |
Education (ETFs)info | Yes | Yes | |
Education (Options)info | Yes | Yes | |
Education (Mutual Funds)info | Yes | Yes | |
Education (Bonds)info | Yes | Yes | |
Education (Retirement)info | Yes | Yes | |
Retirement Calculatorinfo | Yes | Yes | |
Investor Dictionaryinfo | Yes | Yes | |
Paper Tradinginfo | No | Yes | |
Videosinfo | Yes | Yes | |
Webinarsinfo | Yes | Yes | |
Webinars (Archived)info | Yes | Yes | |
Progress Trackinginfo | Yes | Yes | |
Interactive Learning - Quizzesinfo | Yes | Yes |
Stock Trading Apps | Charles Schwab | Interactive Brokers | |
---|---|---|---|
iPhone Appinfo | Yes | Yes | |
Android Appinfo | Yes | Yes | |
Apple Watch Appinfo | Yes | Yes | |
Trading - Stocksinfo | Yes | Yes | |
Trading - After-Hoursinfo | Yes | Yes | |
Trading - Simple Optionsinfo | Yes | Yes | |
Trading - Complex Optionsinfo | Yes | Yes | |
Order Ticket RT Quotesinfo | Yes | Yes | |
Order Ticket SRT Quotesinfo | No | Yes |
Stock App Features | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Market Movers (Top Gainers)info | Yes | Yes | |
Stream Live TVinfo | Yes | Yes | |
Videos on Demandinfo | Yes | Yes | |
Stock Alertsinfo | Yes | Yes | |
Option Chains Viewableinfo | Yes | Yes | |
Watch List (Real-time)info | Yes | Yes | |
Watch List (Streaming)info | Yes | Yes | |
Watch Lists - Create & Manageinfo | Yes | Yes | |
Watch Lists - Column Customizationinfo | Yes | Yes | |
Watch Lists - Total Fieldsinfo | 580 | 659 |
Stock App Charting | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Charting - After-Hoursinfo | No | Yes | |
Charting - Can Turn Horizontallyinfo | Yes | Yes | |
Charting - Multiple Time Framesinfo | Yes | Yes | |
Charting - Technical Studiesinfo | 373 | 97 | |
Charting - Study Customizationsinfo | Yes | Yes | |
Charting - Stock Comparisonsinfo | Yes | No |
Trading Platforms | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Active Trading Platforminfo | thinkorswim info | Trader Workstation (TWS) | |
Desktop Trading Platforminfo | Yes | Yes | |
Desktop Platform (Mac)info | No | Yes | |
Web Trading Platforminfo | Yes | Yes | |
Paper Tradinginfo | No | Yes | |
Trade Journalinfo | Yes | Yes | |
Watch Lists - Total Fieldsinfo | 580 | 659 |
Stock Chart Features | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Charting - Adjust Trades on Chartinfo | Yes | Yes | |
Charting - Indicators / Studiesinfo | 374 | 155 | |
Charting - Drawing Toolsinfo | 24 | 85 | |
Charting - Notesinfo | Yes | Yes | |
Charting - Index Overlaysinfo | Yes | Yes | |
Charting - Historical Tradesinfo | Yes | Yes | |
Charting - Corporate Eventsinfo | Yes | Yes | |
Charting - Custom Date Rangeinfo | Yes | Yes | |
Charting - Custom Time Barsinfo | Yes | Yes | |
Charting - Automated Analysisinfo | Yes | Yes | |
Charting - Save Profilesinfo | Yes | Yes | |
Trade Ideas - Technical Analysisinfo | Yes | Yes | |
Charting - Study Customizationsinfo | 35 | 6 | |
Charting - Custom Studiesinfo | Yes | No |
Day Trading | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Streaming Time & Salesinfo | Yes | Yes | |
Streaming TVinfo | Yes | Yes | |
Direct Market Routing - Stocksinfo | Yes | Yes | |
Ladder Tradinginfo | Yes | Yes | |
Trade Hot Keysinfo | Yes | Yes | |
Level 2 Quotes - Stocksinfo | Yes | Yes | |
Trade Ideas - Backtestinginfo | Yes | Yes | |
Trade Ideas - Backtesting Advinfo | Yes | Yes | |
Short Locatorinfo | Yes | Yes | |
Order Liquidity Rebatesinfo | No | Yes |
Research Overview | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Research - Stocksinfo | Yes | Yes | |
Research - ETFsinfo | Yes | Yes | |
Research - Mutual Fundsinfo | Yes | Yes | |
Research - Pink Sheets / OTCBBinfo | Yes | Yes | |
Research - Bondsinfo | Yes | Yes | |
Screener - Stocksinfo | Yes | Yes | |
Screener - ETFsinfo | Yes | Yes | |
Screener - Mutual Fundsinfo | Yes | Yes | |
Screener - Bondsinfo | Yes | Yes | |
Misc - Portfolio Allocationinfo | Yes | Yes |
Stock Research | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Stock Research - PDF Reportsinfo | 7 | 17 info | |
Stock Research - Earningsinfo | Yes | Yes | |
Stock Research - Insidersinfo | Yes | Yes | |
Stock Research - Socialinfo | Yes | Yes | |
Stock Research - Newsinfo | Yes | Yes | |
Stock Research - ESGinfo | Yes | Yes | |
Stock Research - SEC Filingsinfo | Yes | Yes |
ETF Research | Charles Schwab | Interactive Brokers | |
---|---|---|---|
ETFs - Strategy Overviewinfo | Yes | Yes | |
ETF Fund Facts - Inception Dateinfo | Yes | Yes | |
ETF Fund Facts - Expense Ratioinfo | Yes | Yes | |
ETF Fund Facts - Net Assetsinfo | Yes | Yes | |
ETF Fund Facts - Total Holdingsinfo | Yes | Yes | |
ETFs - Top 10 Holdingsinfo | Yes | Yes | |
ETFs - Sector Exposureinfo | Yes | Yes | |
ETFs - Risk Analysisinfo | Yes | Yes | |
ETFs - Ratingsinfo | Yes | Yes | |
ETFs - Morningstar StyleMapinfo | Yes | Yes | |
ETFs - PDF Reportsinfo | Yes | Yes |
Mutual Fund Research | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Mutual Funds - Strategy Overviewinfo | Yes | Yes | |
Mutual Funds - Performance Chartinfo | Yes | Yes | |
Mutual Funds - Performance Analysisinfo | Yes | Yes | |
Mutual Funds - Prospectusinfo | Yes | Yes | |
Mutual Funds - 3rd Party Ratingsinfo | Yes | Yes | |
Mutual Funds - Fees Breakdowninfo | Yes | Yes | |
Mutual Funds - Top 10 Holdingsinfo | Yes | Yes | |
Mutual Funds - Asset Allocationinfo | Yes | Yes | |
Mutual Funds - Sector Allocationinfo | Yes | Yes | |
Mutual Funds - Country Allocationinfo | Yes | Yes | |
Mutual Funds - StyleMapinfo | Yes | Yes |
Options Trading | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Option Chains - Basic Viewinfo | Yes | Yes | |
Option Chains - Strategy Viewinfo | Yes | Yes | |
Option Chains - Streaminginfo | Yes | Yes | |
Option Chains - Total Columnsinfo | 31 | 38 | |
Option Chains - Greeksinfo | 5 | 12 | |
Option Chains - Quick Analysisinfo | Yes | Yes | |
Option Analysis - P&L Chartsinfo | Yes | Yes | |
Option Probability Analysisinfo | Yes | Yes | |
Option Probability Analysis Advinfo | Yes | Yes | |
Option Positions - Greeksinfo | Yes | Yes | |
Option Positions - Greeks Streaminginfo | Yes | Yes | |
Option Positions - Adv Analysisinfo | Yes | Yes | |
Option Positions - Rollinginfo | Yes | Yes | |
Option Positions - Groupinginfo | Yes | Yes |
Banking | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Bank (Member FDIC)info | Yes | No | |
Checking Accountsinfo | Yes | No | |
Savings Accountsinfo | Yes | No | |
Credit Cardsinfo | Yes | No | |
Debit Cardsinfo | Yes | Yes | |
Mortgage Loansinfo | Yes | No |
Customer Service | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Phone Support (Prospect Customers)info | Yes | Yes | |
Phone Support (Current Customers)info | Yes | Yes | |
Email Supportinfo | Yes | Yes | |
Live Chat (Prospect Customers)info | No | No | |
Live Chat (Current Customers)info | Yes | Yes | |
24/7 Supportinfo | Yes | No |
Overall | Charles Schwab | Interactive Brokers | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Charles Schwab Review | Interactive Brokers Review |
arrow_upward
Charles Schwab vs Interactive Brokers 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 Interactive Brokers.
Is Charles Schwab or Interactive Brokers 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 Interactive Brokers. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).
What about Charles Schwab vs Interactive Brokers pricing?
Charles Schwab and Interactive Brokers charge the same amount for regular stock trades, $0.00. Charles Schwab and Interactive Brokers both charge $0.65 per option contract. For futures, Charles Schwab charges $2.25 per contract and Interactive Brokers charges $0.85 per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides
Does Charles Schwab or Interactive Brokers 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 Interactive Brokers offers a more comprehensive offering than Charles Schwab. Charles Schwab ranks #2 out of 18 brokers for our Investment Options category, while Interactive Brokers ranks #N/A.
Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Forex Trading Looking at Mutual Funds, Interactive Brokers trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 6085 and Interactive Brokers offering 4782.
Do Charles Schwab and Interactive Brokers 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 Interactive Brokers offer crypto trading.
Which trading platform is better: Charles Schwab or Interactive Brokers?
To compare the day trading platforms of Charles Schwab and Interactive Brokers, 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, Interactive Brokers offers a better experience.
Does Charles Schwab or Interactive Brokers offer a better stock trading app?
After testing 25 features across the stock trading apps of Charles Schwab and Interactive Brokers, we found Interactive Brokers 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 Interactive Brokers ranks #N/A.
Charles Schwab Trading App Gallery
Interactive Brokers Trading App Gallery
Which broker is better for researching stocks?
For research, Charles Schwab offers superior market research than Interactive Brokers. Charles Schwab ranks #N/A and Interactive Brokers ranks #2.
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 Interactive Brokers compare in terms of minimum deposit required?
Charles Schwab requires a minimum deposit of $0.00, while Interactive Brokers 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 Interactive Brokers charges a margin rate of 7.83%. The industry average of the 18 brokers we track is 9%.
Does Charles Schwab offer fractional shares? Does Interactive Brokers?
Charles Schwab and Interactive Brokers allow traders to trade fractional shares. 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 Interactive Brokers?
Both Charles Schwab and Interactive Brokers allow you to trade penny stocks. Charles Schwab charges $6.95 per trade while Interactive Brokers 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 Interactive Brokers offers Debit Cards.
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.
Interactive Brokers was rated 12th out of 13 brokers, with an overall score of 7.7 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 Interactive Brokers good?
Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.
In the 2024 StockBrokers.com Annual Awards, Interactive Brokers was rated No. 1 for Platforms & Tools, Mobile Trading Apps, Investment Options, Day Trading, Bond Trading, ESG Investing, Fractional Shares, International Trading, Order Execution, Platform Technology, Professional Trading, and Sentiment Investing. It also placed among Best in Class for Commissions & Fees, Research, Education, Beginners, Futures Trading, IRA Accounts, Options Trading, High Net Worth Investors, and Overall.
Charles Schwab vs Interactive Brokers Winner
Overall winner: Charles Schwab
Popular trading guides
- Best Online Brokerages in Canada March 2024
- Best Crypto Trading Platforms of March 2024
- Best Stock Trading Apps of 2024
- Best Brokers for Free Stock Trading of March 2024
- Best Stock Brokers for March 2024
- Best Share Trading Platforms in Australia for March 2024
- Best US Forex Brokers of March 2024
- Best Day Trading Platforms of March 2024
- Best IRA Accounts of March 2024
- Best Brokerage Firms for High Net Worth Individuals of March 2024
- Best Bank Brokerages of March 2024
- Best Options Trading Platforms & Brokers
- Best Brokers for Penny Stock Trading of March 2024
- Best Futures Trading Platforms of March 2024
- Best Paper Trading Platforms of March 2024
- Best Stock Trading Platforms for Beginners of March 2024
- Best Brokers for Order Execution of March 2024
More trading guides
Best Futures Trading Platforms of March 2024 Best Day Trading Platforms of March 2024 Best International Brokers for Stock Trading in March 2024 Best Share Trading Platforms in Australia for March 2024 Best Brokers for Penny Stock Trading of March 2024 Best Online Brokerages in Canada March 2024 Best IRA Accounts of March 2024 Best Paper Trading Platforms of March 2024 Best Brokers for Order Execution of March 2024 Best Brokerage Firms for High Net Worth Individuals of March 2024 Best Brokers for Free Stock Trading of March 2024 Best Bank Brokerages of March 2024 Best Forex Brokers in the UK for March 2024 Best Crypto Trading Platforms of March 2024 Best US Forex Brokers of March 2024 Best Stock Trading Platforms for Beginners of March 2024 Best Stock Brokers for March 2024 Best Options Trading Platforms & Brokers
Popular stock broker reviews
Fidelity Review J.P. Morgan Self-Directed Investing Review Firstrade Review Robinhood Review SoFi Invest Review Tradier Brokerage Review eToro Review Merrill Edge Review Ally Invest Review Public.com Review Webull Review Vanguard Review E*TRADE Review Tastytrade Review TradeStation Review Interactive Brokers Review Charles Schwab Review
More Comparisons
Charles Schwab vs Vanguard Charles Schwab vs J.P. Morgan Self-Directed Investing Charles Schwab vs Ally Invest Charles Schwab vs Fidelity Charles Schwab vs eToro Charles Schwab vs Merrill Edge Interactive Brokers vs TradeStation Interactive Brokers vs Fidelity Interactive Brokers vs TD Ameritrade Interactive Brokers vs Public.com Interactive Brokers vs Tradier Interactive Brokers vs Charles Schwab
Show all