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Interactive Brokers vs Charles Schwab

Interactive Brokers is a good discount broker for experienced, high volume traders. . How does it compare to Charles Schwab? Read our comparison chart below.

Interactive Brokers offers trades starting at just 0.5 cents per share. It also offers a tiered pricing plan that awards high volume traders with even lower rates. There is a $10,000 opening account minimum ($3,000 for clients 25 and younger). There is a monthly activity fee unless required commission minimums are met.

While Charles Schwab offers stock trades at $4.95 per trade and options trading at $4.95 + $0.65 per contract. It also offers 200+ commission free ETFs. There is no minimum deposit, no maintenance fee, and no inactivity fee.

Compare Interactive Brokers with Charles Schwab, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Interactive Brokers

Charles Schwab

Earn $200 with Referrals - Learn More

Read Interactive Brokers Review

SPECIAL OFFER
500 Commission-Free Online and Options Trades - Learn More

Read Charles Schwab Review

 

Benefits and Features

Stock TradingFixed pricing: $0.005 per share (min $1 per order, max 1.0% of trade value). Tiered pricing: Starts at $0.0035 per share for less than 300,000 shares (min $0.35 per order, max 1% of trade value)
$4.95 per trade
Options Trading$.70 per contract ($1 minimum per order)
$4.95 + $0.65 per contract
Minimum Deposit$10,000 for individual accounts; $5,000 for IRAs; $3,000 for clients 25 and under
$0
Mutual Fund Trading$0 for no-transaction-fee funds. For transaction-fee funds, 3% trade value OR $14.95, per transaction, whichever is less, for transaction-fee funds$0 for no-transaction-fee funds $49.95 for all other funds
Commission Free ETFs
45
200+
Broker Assisted Trades
$30
online pricing + $25.00 service charge
Customer ServiceUnited States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries)
24/7
Inactivity Fee$10/month for accounts under $100,000; $20/month for accounts under $2,000; $3/month for clients 25 and younger
None
Maintenance FeeWaived if account value is at least $100,000 OR if monthly commission requirements are met. If not met, the activity fee is the difference. For accounts less than $100,000: the commission requirement is $10/month. For accounts less than $2,000: the commission requirement is $20/month. For clients 25 and younger: the commission requirement is $3/month.
$0
Banking
No
Yes
Mobile App
Yes
Yes
Desktop App
Yes
Yes
Forex TradingAvailable for qualified customers 
Futures Trading
Yes
$1.50 per contract
Locations
No
300 locations
Online Community
Yes
Yes
Seminars
Yes
Yes
Virtual Trading
Yes
No
 

CreditDonkey® Reviews

Stock Trading
Options Trading
Mutual Fund Trading
Online Platform
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Pros & ConsPros:
  • Large number of investments, including options, futures, and forex
  • Customize trading platform
  • Tools and opportunities for research
Cons:
  • $10,000 minimum to open an account.
  • Platform can be too much for a beginner to understand
  • Inactivity fees if you don't meet the trade commission requirements.
Pros:
  • Vast selection of commission-free ETFs and mutual funds
  • 2 platforms (one for beginners and one for advanced traders)
  • 24/7 customer service including online chat
Cons:
  • Commission costs on mutual funds outside of the commission-free funds
  • Robo-advisor option requires a minimum investment of $5,000
Bottom LineGood discount broker for experienced, high volume traders... Read full reviewGood choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Interactive Brokers: Pricing information from published websites as of 3/15/2019

Charles Schwab: Pricing information from published websites as of 3/15/2019

Which is Better: Interactive Brokers or Charles Schwab?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Interactive Brokers or Ally Invest.

In short: Interactive Brokers' options trading and mobile app are outstanding. Charles Schwab's banking, ease of use, and research are notable. In particular, the banking and research are excellent.


Articles on Interactive Brokers


Articles on Charles Schwab


Which Do You Think is Best?


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