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 and ETF trades at $0 commission and options trading at $0 commission + $0.65 per contract. 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 | |
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$0 Commissions on Online Stock, ETF, and Options Trades - | ||
Benefits and Features | ||
Stock Trading | Fixed pricing: $0.0005 - $0.0035 per share (min $0.35 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) | $0 commission on U.S. stocks and ETFs |
Options Trading | $.15-$.70 per contract ($1 minimum per order) | |
Minimum Deposit | $10,000 for individual accounts; $5,000 for IRAs; $3,000 for clients 25 and under | |
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 | 2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSourceā¢. | |
Broker Assisted Trades | ||
Customer Service | United States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries) | |
Inactivity Fee | $10/month for accounts under $100,000; $20/month for accounts under $2,000; $3/month for clients 25 and younger | |
Maintenance Fee | Waived 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. | |
Banking | ||
Mobile App | ||
Desktop App | ||
Forex Trading | Available for qualified customers | |
Futures Trading | ||
Locations | ||
Online Community | ||
Seminars | ||
Virtual Trading | ||
CreditDonkey® Reviews | ||
Stock Trading | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Options Trading | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mutual Fund Trading | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Online Platform | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Banking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Commissions and Fees | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Ease of Use | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Research | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Pros & Cons | Pros:
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Bottom Line | Good discount broker for experienced, high volume traders... | Good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... |
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 09/15/2019. Charles Schwab: Pricing information from published websites as of 11/14/2021. |
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 eToro.
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.