Charles Schwab vs. E*TRADE: 2023 Comparison
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There's a lot to like about E*TRADE and Charles Schwab. Both brokers cater to beginner investors and advanced traders alike. Both offer extensive investment selections, commission-free trades of stocks and exchange-traded funds and access to extensive research. Schwab has an above-average mobile app, but it provides a smaller selection of fractional shares than some other brokers. E*TRADE's two mobile apps are impressive, but the broker's website can be a bit difficult to navigate. Read more information about the two brokers to decide which one might be right for you.
Charles Schwab is best for:
Beginner investors.
Advanced traders.
Investors seeking no-minimum index funds.
Investors who rely on premium research.
Charles Schwab at a glance
Account minimum | $0. |
Stock trading costs | $0. |
Options trades | No base commission; $0.65 per contract. |
Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fee; $50 for full transfer out of assets. |
Interest rate on uninvested cash | 0.45%. |
Number of no-transaction-fee mutual funds | More than 8,000 no-transaction-fee mutual funds. |
Tradable securities |
|
Trading platform | Four platforms offered with no trade minimums or fees. |
Mobile app | Three mobile apps: Schwab Mobile, thinkorswim and StreetSmart Mobile. |
Research and data | Research from providers including, Morningstar, Argus, and S&P, plus more in-house generated commentary and tools. |
Customer support options (includes how easy it is to find key details on the website) | Phone, email, chat 24/7, and in-person support available at branches Monday through Friday 8 a.m. to 5 p.m. Some branches have Saturday hours. |
» Read our full review of Charles Schwab
E*TRADE is best for:
Frequent traders.
Beginner investors.
Research and data.
Retirement planning assistance.
E*TRADE at a glance
Account minimum | $0 |
Stock trading costs | $0 |
Options trades | No base commission; $0.65 per contract (volume discount available) |
Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fee. $75 full transfer out fee. |
Interest rate on uninvested cash | 0.01% |
Number of no-transaction-fee mutual funds | More than 4,000 |
Tradable securities | • Stocks • Bonds • Mutual funds • ETFs • Options • Futures |
Trading platform | Two platforms available for free to all customers: • E-Trade Web • Power E-Trade |
Mobile app | Two apps: • E*TRADE mobile • Power E*TRADE Available on iOS and Android. |
Research and data | Free and extensive, with several external providers available at no cost. |
Customer support options (includes how easy it is to find key details on the website) | Phone, email and chat support 24/7; 64 local and 2 national branches |
NerdWallet rating 4.9 /5 | NerdWallet rating 5.0 /5 | NerdWallet rating 4.7 /5 |
Fees $0 per trade | Fees $0 per trade | Fees $0 per trade |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion None no promotion available at this time | Promotion None no promotion available at this time | Promotion Get up to 70 free fractional shares (valued up to $3,000) when you open and fund an account with Webull. |
» Read our full review of E*TRADE
Want to compare more brokerages? Here's our full list of the best brokers for stock trading.
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We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
