Personal Finance · head to head
Charles Schwab vs GnuCash
The short version
- Only GnuCash has a free tier, so it costs nothing to try first.
- 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; GnuCash desktop only, with no mobile application
- They diverge on capability: Charles Schwab covers Commission-free trading, GnuCash covers Double-entry bookkeeping.
Where they differ
Only the attributes on which Charles Schwab and GnuCash actually diverge.
| Attribute | Charles Schwab | GnuCash |
|---|---|---|
| Starting price | On request | Free |
| Pricing model | transaction | open-source |
| Free tier | No | Yes |
| Platforms | Web, IOS, Android | Windows, Mac, Linux |
| Founded | 1971 | 1997 |
Identical on both: 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
- Research tools
- Bank accounts
- Investment accounts
- Web support
- IOS support
Only in GnuCash
- Double-entry bookkeeping
- Multi-currency support
- Reports and graphs
- Budget tracking
- Import/Export
- OFX format
- Windows support
- Mac support
What people use each for
The jobs each tool is most often brought in to do.
Charles Schwab
- Budget Managementnot GnuCash
- Expense Trackingnot GnuCash
- Investment Trackingnot GnuCash
GnuCash
- Personal finance tracking with a checkbook register interfacenot Charles Schwab
- Double-entry bookkeeping for a small businessnot Charles Schwab
- Tracking stocks, bonds and mutual fund accountsnot Charles Schwab
- Importing transactions via QIF, OFX or HBCInot Charles Schwab
- Scheduled recurring transactions and financial reportsnot Charles Schwab
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 $0 online commission, per the App Store listing for Schwab Mobile
GnuCash
- Desktop only, with no mobile application
- Version 3.11 is the last release supporting Windows 7 and macOS 10.12 and earlier
- Uses strict double-entry accounting, so every transaction needs two sides
Pricing, plan by plan
Charles Schwab
On request- Individual BrokerageFree
- Commission-free trading
- Research tools
- Schwab Advisor Services$undefined/month
- All Brokerage features
- Wealth management
- Personal advisors
GnuCash
Free- Open SourceFree
- Double-entry bookkeeping
- Multi-currency support
- Reports and graphs
Which should you pick?
Choose Charles Schwab if
- You need commission-free trading.
- You work on Web, IOS, Android.
- You also want retirement planning.
Choose GnuCash if
- You need double-entry bookkeeping.
- You want to start without paying.
- You work on Windows, Mac, Linux.
- You also want multi-currency support.
Questions people ask
- Is Charles Schwab or GnuCash better?
- Neither clearly leads. Charles Schwab starts at On request and GnuCash at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Charles Schwab or GnuCash?
- GnuCash has a free tier; the other does not. Paid plans start at On request for Charles Schwab and Free for GnuCash.
- Does Charles Schwab or GnuCash run on more platforms?
- Charles Schwab runs on Web, IOS, Android. GnuCash runs on Windows, Mac, Linux.
- Can I use GnuCash for free?
- Yes. GnuCash has a free tier, so you can try it without paying. Charles Schwab starts at On request.
- What is Charles Schwab best used for?
- Charles Schwab is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what GnuCash is typically brought in for.
- What can Charles Schwab do that GnuCash cannot?
- Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. GnuCash covers Double-entry bookkeeping, Multi-currency support, Reports and graphs, Budget tracking.