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Personal Finance · head to head

Charles Schwab vs E*TRADE

Charles Schwab logo

Charles Schwab

Personal Finance

Investing made simple

From
On request
Rated
-
Full reviewWebsite
E*TRADE logo

E*TRADE

Personal Finance

Express your investing style

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile; E*TRADE stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023)
  • They diverge on capability: Charles Schwab covers Commission-free trading, E*TRADE covers Advanced trading tools.

Where they differ

Only the attributes on which Charles Schwab and E*TRADE actually diverge.

Attributes where Charles Schwab and E*TRADE differ
AttributeCharles SchwabE*TRADE
Founded19711956

Identical on both: starting price (On request), pricing model (transaction), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Investment accounts

Only in E*TRADE

  • Advanced trading tools
  • Options and futures
  • Mobile trading
  • Wire transfers

Both cover

  • Research tools
  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Charles Schwab

  • Budget Management
  • Expense Tracking
  • Investment Tracking

E*TRADE

  • Budget Management
  • Expense Tracking
  • Investment Tracking

Both are used for budget management, expense tracking, investment tracking, on those jobs the choice comes down to price and fit rather than capability.

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

E*TRADE

  • Stock and ETF trades were $0 commission but options carried a $0.65 per-contract fee, broker-assisted trades added a $25 surcharge, and margin interest rates ranged from 12.70% to 13.20% depending on balance tier (Internet Archive capture, 3 January 2023)

Pricing, plan by plan

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

E*TRADE

On request
  • Stock & ETF TradingFree
    • Commission-free trades
    • Real-time quotes
  • Advanced Trading$undefined/month
    • All Stock & ETF features
    • Options, futures
    • Advanced tools

Which should you pick?

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Choose E*TRADE if

  • You need advanced trading tools.
  • You work on Web, IOS, Android.
  • You also want options and futures.
E*TRADE review

Questions people ask

Is Charles Schwab or E*TRADE better?
Neither clearly leads. Charles Schwab starts at On request and E*TRADE at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Charles Schwab or E*TRADE?
Charles Schwab starts at On request and E*TRADE at On request.
Does Charles Schwab or E*TRADE run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
What is Charles Schwab best used for?
Charles Schwab is most often used for budget management, expense tracking, investment tracking.
What can Charles Schwab do that E*TRADE cannot?
Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Investment accounts. E*TRADE covers Advanced trading tools, Options and futures, Mobile trading, Wire transfers. Both handle Research tools, Bank accounts, Web support, IOS support.
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