E-Trade vs TD Ameritrade vs. Schwab: Fees & Features

All three companies have worked hard to bring down costs and emphasized user experience. Although they have more in common than stark differences, investors with specific priorities may gravitate to one company over the others. That said, the E-Trade app holds a 4.6-star rating on the Apple Store and 3.9 stars on Google Play. Power E-Trade has a 4.5-star rating on the Apple store and 4 stars on Google Play. Fidelity charges 13.575% for accounts under $25,000 while Charles Schwab charges a margin rate of 13.575%.

• With its acquisition by Morgan Stanley, E-Trade offers a variety of financial products, including managed portfolios, company retirement accounts, bank accounts and loans.
• Beginners can get their feet wet with the E-Trade app, while seasoned traders can take advantage of the depth and customization of the Power E-Trade mobile and desktop app.
• As a discount brokerage company, Schwab focuses on access, convenience and low cost by offering an array of no-load funds and commission-free ETFs, stocks and options trades.
• Generally, trading native products within each platform will help you minimize fees.
• For example, broker-assisted trading will typically cost $25 per trade, while placing an order over the telephone involves a $5 trading fee.

Its second app, Power E-Trade, offers advanced options and deep analysis for expert traders. Our team of researchers gathered 2425 data points and weighted 66 criteria based on data collected during extensive research for each of the 25 companies we reviewed. Charles Schwab’s mobile platform is intuitive and easy to use, and you can trade the same asset classes as the desktop version. Investors and traders can see basic information such as balances and news on stocks in your portfolio.

Beginners can get their feet wet with the E-Trade app, while seasoned traders can take advantage of the depth and customization of the Power E-Trade mobile and desktop app. That said, the E-Trade app holds a 4.6-star rating on the Apple store and 4 stars on Google Play. Power E-Trade has a 4.5-star rating on the Apple store and 3.9 stars on Google Play. For active traders, the best platforms will have ample tools and research on hand. We particularly recommend the ones that offer you a way to test a strategy and see how it might play out – before actually committing to the trade. Make sure that any platform you’re considering has the tools you anticipate needing, from fully-featured mobile apps to access to reports and other data to guide your decision-making.

Mobile and New Trade Tech 📱

Neither have Forex Trading Looking at Mutual Funds, Fidelity trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 6085 and Fidelity offering 3401. Fidelity and Charles Schwab charge the same amount for regular stock trades, $0.00. Fidelity and Charles Schwab both charge $0.65 per option contract. For futures, Charles Schwab charges $2.25 per contract and Fidelity charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading guide.

Some users, such as this reviewer, find it distracting, an unnecessary step in the trading process. Others, however, may highly value the summary view that it offers. If you like the idea of seeing your trades gathered in one place before you commit to a new position in the market, the Trading Ticket may be a high-value feature for you. Forbes Advisor also ranks Schwab as the best online broker for customer service, including 24/7 phone support and chat support.

• This year, we revamped the review process by conducting an extensive survey of customers that are actively looking to start trading and investing with an online broker.
• Vanguard doesn’t offer a cash-back card or many banking services.
• E-Trade’s two investing apps are renowned for ease of use and appeal to investors of all experience levels.
• Intelligent Portfolios permits investments in a suite of 51 ETFs.
• Traders with $5,000 looking to invest through a robo-advisor can access maximal customization with Schwab.
• There are no guarantees that working with an adviser will yield positive returns.

You can easily differentiate between these categories as they are organized into different sections. Schwab has been known to throw too much information at users, but using its platform on mobile or desktop is straightforward. Schwab Mobile has a 4.8-star rating on the Apple store and 3.7 stars on Google Play. In general, new and veteran investors should find Schwab’s tools intuitive. However, active traders will likely prefer the Schwab Street Smart desktop version, as the mobile version has significantly fewer features.

For the past several years, Charles Schwab has swallowed up several other brokerages and trading houses, leading to a bevy of research tools, educational content, screeners, and reporting options. In fact, most research tools and screeners can be found on its various platforms. Both of these brokerages have commission-free stock, ETF, and options trading.

Which broker is better for researching stocks?

Let’s take a side-by-side look at E-Trade and Schwab to help you determine which one might be most suitable for your investment needs. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. For more details about the categories considered when rating brokers and our process, read our full methodology. Free and extensive, with several external providers available at no cost. No annual or inactivity fee; $50 for full transfer out of assets.

Charles Schwab also offers an impressive platform with StreetSmart Edge. You can access it via the web or as a desktop version, and you’ll get tools to test out trading opportunities, look at technical analysis charting, streaming quotes, and customization features. It also comes with more programs for options trading in StreetSmart Central.

Online Stock Trading Platform Reviews

Ally says it plans to roll out more screeners and tools over the next year. Fidelity also provides top-notch budgeting and retirement-planning tools. And you can see a comprehensive picture of all your finances, including accounts held at other firms, your mortgage balance and your home’s market value. While Charles Schwab offers stock and ETF trades at $0 commission and options trading at $0 commission + $0.65 per contract.

Category #7: Miscellaneous Services

Both companies have vast learning libraries online for investors who want to learn more at no extra cost. Finally, all three companies offer robo-advisor services that gather your personal preferences for investing, with Schwab Intelligent Portfolios requiring the most money to get started. In addition, trading mutual funds at any of the companies is usually free.

Customers can invest in futures, forex, crypto, annuities and more through their accounts. Its thinkorswim platform is particularly appealing to sophisticated and active traders. Schwab charges no commissions for bonds, while Fidelity and E-Trade charge $1 per bond. Fidelity does not offer futures, but futures with E-Trade and Schwab cost $1.50 per contract. Overall, E-Trade tends to be the cheapest option for trading mutual funds.

E-Trade vs. Schwab vs. Fidelity Overview

But as far as investing directly on foreign stock exchanges, only Schwab offers that capability. Schwab Global Accounts can trade electronically in 12 foreign markets, and its Global Services desk allows for trading in over 30 global markets. International stock trading frequently comes with higher commission prices that vary based on the particular market. When combined, these brokers have nearly 7,000 investments that you can trade without paying a commission or transaction fee.

In addition, investors should see if they qualify for special offers to open a traditional brokerage account, or an IRA, which can substantially reduce your true cost to make a trade. In addition, investors should see if they qualify for special offers to open a traditional brokerage account, or an IRA account, which can substantially reduce your true cost to make a trade. Each company provides an array of services, including free individual stock trading, 401(k)s, charles schwab vs etrade individual retirement accounts (IRAs), college saving plans, and joint and custodial accounts. In addition, most accounts have low or no minimum requirements, with exceptions such as $5,000 for a robo-advisor account with Schwab. Schwab and Fidelity offer 529 plans for education, while E-Trade has a Coverdell education savings account. Most investors can avoid paying fees by sticking with the no-cost options available from all three of these discount brokerages.

Also, getting in touch with customer service at any of the three companies is free. Recently, the trend amongst brokerage platforms has been to reduce or remove as many fees as possible. As a result, E-Trade, Schwab, and Fidelity collect no commissions for online stock, exchange-traded funds (ETFs), and option trades. However, all three charge $0.65 per options contract, with E-Trade dropping the price to $0.50 for investors conducting over 30 trades per quarter.