Charles Schwab vs. E*TRADE: 2024 Comparison

Charles Schwab and and E*TRADE are both good for advanced and beginner investors, but fractional shares and website ease-of-use differ. NerdWallet compares the two brokers.
Pamela de la Fuente
By Pamela de la Fuente 
Updated

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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
NerdWallet rating 

on Charles Schwab's website

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

  • Stocks.

  • Bonds.

  • Fractional shares

  • Mutual funds.

  • ETFs.

  • Options.

  • Futures.

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.

E*TRADE
NerdWallet rating 

on E*TRADE's website

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

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NerdWallet rating 

4.9

/5
NerdWallet rating 

5.0

/5
NerdWallet rating 

4.1

/5

Fees 

$0

per online equity 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 $700

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.

Want to compare more brokerages? Here's our full list of the best brokers for stock trading.

Methodology

How do we review brokers?

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

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.

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