StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.
Home
Online Brokerage Comparison Tool
April 11, 2023
Is TD Ameritrade better than Charles Schwab? After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than Charles Schwab (94.51%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.
Select Brokers
❯×
×
×
Sponsored
navigate_beforenavigate_next
| Overall Rating | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Overall |  |  | |
| Commissions & Fees | | | |
| Investment Options | | | |
| Platforms & Tools | | | |
| Mobile Trading Apps | | | |
| Research | | | |
| Customer Service | | | |
| Education | | | |
| Ease Of Use | | | |
| Winner | check_circle | ||
| Review | TD Ameritrade Review | Charles Schwab Review |
| Trading Fees | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | $6.95 | $6.95 | |
| Mutual Fund Trade Fee | Varies | Varies | |
| Options (Base Fee) | $0.00 | $0.00 | |
| Options (Per Contract) | $0.65 | $0.65 | |
| Futures (Per Contract) | $2.25 | $2.25 | |
| Broker Assisted Trade Fee | $25 | $25 |
| Margin Rates | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Margin Rate Under $25,000 | 14.25% info | 13.08% | |
| Margin Rate $25,000 to $49,999.99 | 13.75% | 12.58% | |
| Margin Rate $50,000 to $99,999.99 | 12.75% | 11.63% | |
| Margin Rate $100,000 to $249,999.99 | 12.50% | 11.58% | |
| Margin Rate $250,000 to $499,999.99 | 12.25% | 11.33% | |
| Margin Rate $500,000 to $999,999.99 | Varies info | Varies info | |
| Margin Rate Above $1,000,000 | Varies info | Varies info |
| Account Fees | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $0.00 | |
| IRA Closure Fee | $0.00 | $0.00 | |
| Account Transfer Out (Partial) | $0.00 | $25.00 | |
| Account Transfer Out (Full) | $75.00 | $50.00 | |
| Options Exercise Fee | $0.00 | $0.00 | |
| Options Assignment Fee | $0.00 | $0.00 |
| Investment Options | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Margin Trading | Yes | Yes | |
| Fractional Shares | No | Yes | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | Yes | Yes | |
| Forex Trading | Yes | No | |
| Crypto Trading | No | No | |
| Crypto Trading - Total Coins | 0 | 0 | |
| Mutual Funds (No Load) | 3698 | 14996 | |
| Mutual Funds (Total) | 5876 | 17912 | |
| Bonds (US Treasury) | Yes | Yes | |
| Bonds (Corporate) | Yes | Yes | |
| Bonds (Municipal) | Yes | Yes | |
| Advisor Services | Yes | Yes | |
| International Countries (Stocks) | 0 | 12 |
| Order Types | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Order Type - Market | Yes | Yes | |
| Order Type - Limit | Yes | Yes | |
| Order Type - After Hours | Yes | Yes | |
| Order Type - Stop | Yes | Yes | |
| Order Type - Trailing Stop | Yes | Yes | |
| Order Type - OCO | Yes | Yes | |
| Order Type - OTO | Yes | Yes | |
| Order Type - Broker Assisted | Yes | Yes |
| Beginners | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | Yes | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | No | |
| Education (Bonds) | Yes | Yes | |
| Education (Retirement) | Yes | Yes | |
| Retirement Calculator | Yes | Yes | |
| Investor Dictionary | Yes | Yes | |
| Paper Trading | Yes | No | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Webinars (Archived) | Yes | Yes | |
| Progress Tracking | Yes | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | Yes | Yes | |
| Trading - Stocks | Yes | Yes | |
| Trading - After-Hours | Yes | Yes | |
| Trading - Simple Options | Yes | Yes | |
| Trading - Complex Options | Yes | Yes | |
| Order Ticket RT Quotes | Yes | Yes | |
| Order Ticket SRT Quotes | Yes | No | |
| SB Gallery - Mobile Apps |
| Stock App Features | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Market Movers (Top Gainers) | Yes | Yes | |
| Stream Live TV | Yes | Yes | |
| Videos on Demand | Yes | Yes | |
| Stock Alerts | Yes | No | |
| Option Chains Viewable | Yes | Yes | |
| Watch List (Real-time) | Yes | Yes | |
| Watch List (Streaming) | Yes | No | |
| Watch Lists - Create & Manage | Yes | Yes | |
| Watch Lists - Column Customization | Yes | No | |
| Watch Lists - Total Fields | 514 | 130 |
| Stock App Charting | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Charting - After-Hours | Yes | No | |
| Charting - Can Turn Horizontally | Yes | Yes | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 400 | 32 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | Yes |
| Trading Platforms | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Active Trading Platform | thinkorswim | StreetSmart Edge | |
| Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Mac) | Yes | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | No | |
| Trade Journal | Yes | Yes | |
| Watch Lists - Total Fields | 514 | 130 |
| Stock Chart Features | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | Yes | |
| Charting - Indicators / Studies | 429 | 41 | |
| Charting - Drawing Tools | 24 | 15 | |
| Charting - Notes | Yes | Yes | |
| Charting - Index Overlays | Yes | Yes | |
| Charting - Historical Trades | Yes | No | |
| Charting - Corporate Events | Yes | Yes | |
| Charting - Custom Date Range | Yes | Yes | |
| Charting - Custom Time Bars | Yes | Yes | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | Yes | |
| Trade Ideas - Technical Analysis | Yes | Yes | |
| Charting - Study Customizations | 9 | 7 | |
| Charting - Custom Studies | Yes | No |
| Day Trading | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Streaming Time & Sales | Yes | Yes | |
| Streaming TV | Yes | Yes | |
| Direct Market Routing - Stocks | Yes | Yes | |
| Ladder Trading | Yes | No | |
| Trade Hot Keys | Yes | Yes | |
| Level 2 Quotes - Stocks | Yes | Yes | |
| Trade Ideas - Backtesting | Yes | Yes | |
| Trade Ideas - Backtesting Adv | Yes | No | |
| Short Locator | No | Yes | |
| Order Liquidity Rebates | No | No |
| Research Overview | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | Yes | Yes | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | Yes | |
| Screener - Mutual Funds | Yes | Yes | |
| Screener - Bonds | Yes | Yes | |
| Misc - Portfolio Allocation | Yes | Yes |
| Stock Research | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Stock Research - PDF Reports | 6 | 7 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | Yes | Yes | |
| Stock Research - Social | Yes | Yes | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | No | Yes | |
| Stock Research - SEC Filings | Yes | Yes |
| ETF Research | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| ETFs - Strategy Overview | Yes | Yes | |
| ETF Fund Facts - Inception Date | Yes | Yes | |
| ETF Fund Facts - Expense Ratio | Yes | Yes | |
| ETF Fund Facts - Net Assets | Yes | Yes | |
| ETF Fund Facts - Total Holdings | No | Yes | |
| ETFs - Top 10 Holdings | Yes | Yes | |
| ETFs - Sector Exposure | Yes | Yes | |
| ETFs - Risk Analysis | Yes | Yes | |
| ETFs - Ratings | Yes | Yes | |
| ETFs - Morningstar StyleMap | Yes | Yes | |
| ETFs - PDF Reports | Yes | Yes |
| Mutual Fund Research | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Mutual Funds - Strategy Overview | Yes | Yes | |
| Mutual Funds - Performance Chart | Yes | Yes | |
| Mutual Funds - Performance Analysis | Yes | Yes | |
| Mutual Funds - Prospectus | Yes | Yes | |
| Mutual Funds - 3rd Party Ratings | Yes | Yes | |
| Mutual Funds - Fees Breakdown | Yes | Yes | |
| Mutual Funds - Top 10 Holdings | Yes | Yes | |
| Mutual Funds - Asset Allocation | Yes | Yes | |
| Mutual Funds - Sector Allocation | Yes | Yes | |
| Mutual Funds - Country Allocation | No | Yes | |
| Mutual Funds - StyleMap | Yes | Yes |
| Options Trading | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Option Chains - Basic View | Yes | Yes | |
| Option Chains - Strategy View | Yes | Yes | |
| Option Chains - Streaming | Yes | Yes | |
| Option Chains - Total Columns | 35 | 44 | |
| Option Chains - Greeks | 5 | 5 | |
| Option Chains - Quick Analysis | Yes | Yes | |
| Option Analysis - P&L Charts | Yes | Yes | |
| Option Probability Analysis | Yes | Yes | |
| Option Probability Analysis Adv | Yes | Yes | |
| Option Positions - Greeks | Yes | Yes | |
| Option Positions - Greeks Streaming | Yes | Yes | |
| Option Positions - Adv Analysis | Yes | Yes | |
| Option Positions - Rolling | Yes | Yes | |
| Option Positions - Grouping | Yes | Yes |
| Banking | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Bank (Member FDIC) | No | Yes | |
| Checking Accounts | Yes | Yes | |
| Savings Accounts | No | Yes | |
| Credit Cards | Yes | Yes | |
| Debit Cards | Yes | Yes | |
| Mortgage Loans | No | Yes |
| Customer Service | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Phone Support (Prospect Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospect Customers) | Yes | No | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | Yes |
| Overall | TD Ameritrade | Charles Schwab | |
|---|---|---|---|
| Overall | | | |
| Commissions & Fees | | | |
| Investment Options | | | |
| Platforms & Tools | | | |
| Mobile Trading Apps | | | |
| Research | | | |
| Education | | | |
| Ease Of Use | | | |
| Winner | check_circle | ||
| Review | TD Ameritrade Review | Charles Schwab Review |
- check_box_outline_blankcheck_boxAlly Invest
- check_box_outline_blankcheck_boxCharles Schwab
- check_box_outline_blankcheck_boxE*TRADE
- check_box_outline_blankcheck_boxeToro
- check_box_outline_blankcheck_boxFidelity
- check_box_outline_blankcheck_boxFirstrade
- check_box_outline_blankcheck_boxInteractive Brokers
- check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
- check_box_outline_blankcheck_boxMerrill Edge
- check_box_outline_blankcheck_boxRobinhood
- check_box_outline_blankcheck_boxSofi Invest
- check_box_outline_blankcheck_boxtastytrade
- check_box_outline_blankcheck_boxTD Ameritrade
- check_box_outline_blankcheck_boxTradeStation
- check_box_outline_blankcheck_boxTradier
- check_box_outline_blankcheck_boxVanguard
- check_box_outline_blankcheck_boxWebull
arrow_upward
TD Ameritrade vs Charles Schwab Comparison
Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare TD Ameritrade vs Charles Schwab.
Is TD Ameritrade or Charles Schwab better for beginners?
TD Ameritrade offers more comprehensive new investor education for beginner investors than Charles Schwab. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement).
What about TD Ameritrade vs Charles Schwab pricing?
TD Ameritrade and Charles Schwab charge the same amount for regular stock trades, $0.00. TD Ameritrade and Charles Schwab both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.
Does TD Ameritrade or Charles Schwab offer a wider range of investment options?
TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services. Looking at Mutual Funds, TD Ameritrade trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and TD Ameritrade offering 3610.
Which trading platform is better: TD Ameritrade or Charles Schwab?
To compare the trading platforms of TD Ameritrade and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found TD Ameritrade to provide better mobile trading apps.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while Charles Schwab offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Is TD Ameritrade good?
TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.
Is Charles Schwab good?
As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.
TD Ameritrade vs Charles Schwab Winner
Overall winner: TD Ameritrade
Read Next
Explore our other online trading guides:
- Best Trading Platforms 2023
- Best Stock Trading Apps
- Best Online Brokers for Beginners
- Best Day Trading Platforms
- Best Brokers for Penny Stocks
- Compare Online Brokers
More Comparisons
TD Ameritrade vs Vanguard TD Ameritrade vs Interactive Brokers TD Ameritrade vs Tradier TD Ameritrade vs tastytrade TD Ameritrade vs eToro TD Ameritrade vs Merrill Edge Charles Schwab vs eToro Charles Schwab vs Fidelity Charles Schwab vs Merrill Edge Charles Schwab vs Vanguard Charles Schwab vs Sofi Invest Charles Schwab vs tastytrade
Show all
