Charles Schwab vs. E*TRADE: 2022 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 or $25 for partial transfer out of assets. |
Number of no-transaction-fee mutual funds | Over 7,100 no-transaction-fee mutual funds. |
Tradable securities |
|
Trading platform | Three platforms offered with no trade minimums or fees: StreetSmart Edge (desktop platform), Schwab.com and StreetSmart Central. |
Mobile app | Two mobile apps with above-average capabilities: Schwab Mobile and StreetSmart Mobile. |
Research and data | Research from more than 20 providers including Moody's, Morningstar, Recognia, and Thompson Reuters, 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; $25 partial |
Number of no-transaction-fee mutual funds | Over 4,700 |
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 10 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; 29 local and 2 national branches |
» 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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