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
	SPECIAL OFFER Referral Program - $200 Bonus - Learn More Read Interactive Brokers Review	SPECIAL OFFER $0 Commissions on Online Stock, ETF, and Options Trades - Learn More Read Charles Schwab Review
	Benefits and Features
Stock Trading	IBKR Lite: $0 per share (min $0 per order) IBKR Pro - Fixed: $0.0005 per share (min $1.00 per order, max 1.0% of trade value) IBKR Pro - Tiered: 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	$0.15-$0.65 per contract ($1 minimum per order)	$0 + $0.65 per contract
Annual Fee	None	None
Cryptocurrency Trading	0.12% to 0.18% of trade value ($1.75 minimum per order)	No
Minimum Deposit	$0	$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	$0 for funds from Schwab Mutual Fund OneSource and up to $74.95 per purchase for all other funds
Commission Free ETFs	150+	2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSource™.
Broker Assisted Trades	$30	$25.00 service charge
Inactivity Fee	$0	None
Maintenance Fee	$0	$0
Banking	No	Yes
Mobile App	Yes	Yes
Desktop App	Yes	Yes
Forex Trading	Available for qualified customers
Futures Trading	Yes	$2.25 per contract
Customer Service	United States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries)	24/7
Locations	No	300 locations
Online Community	Yes	Yes
Seminars	Yes	Yes
Trading Platform	Desktop, Web Trading, Mobile Apps	Desktop, Web Trading, Mobile Apps
Virtual Trading	Yes	Yes (thinkorswim platforms)
	CreditDonkey® Reviews
Stock Trading
Options Trading
Mutual Fund Trading
Online Platform
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Pros & Cons	Pros: Large number of investments, including options, futures, and forex Customize trading platform Tools and opportunities for research Cons: Platform can be too much for a beginner to understand Complicated pricing structure	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 Line	Good discount broker for experienced, high volume traders... Read full review	Good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review
	Referral Program - $200 Bonus	$0 Commissions on Online Stock, ETF, and Options Trades 500 Commission-Free Online and Options Trades Schwab's Referral Offer - Up to $1,000 Bonus
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 10/17/2023. Charles Schwab: Pricing information from published websites as of 11/09/2024.

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 Robinhood.

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

Interactive Brokers

Interactive Brokers offers a robust trading platform that experienced traders favor due to its competitive fee structure and extensive range of trading options.

Interactive Brokers vs Robinhood

Articles on Charles Schwab

Charles Schwab

Charles Schwab is one of the oldest names in the world of investing. With low fees, no account minimums, and robust research tools, it's a good brokerage for all levels of investors.