Are you confused about whether to choose Charles Schwab vs TD Ameritrade as a broker for your investing needs?
In this side-by-side comparison, we analyse Charles Schwab vs TD Ameritrade to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
Charles Schwab vs TD Ameritrade: In a Nutshell
all account types (US investors only)
Founded in 1971, Charles Schwab Corporation, commonly known as Schwab, is a leading American brokerage and banking company.
It pioneered the concept of discount brokerage, offering commission-free online trades and providing access to a vast selection of investment options.
Moreover, Schwab operates as a full-service bank, providing a range of banking products such as checking accounts, savings accounts, mortgages, and loans.
US traders looking for an all-in-one solution
TD Ameritrade is an established online broker with a strong presence in the United States, offering 0% commissions on stocks, ETFs and options.
One of the key advantages of TD Ameritrade is its robust trading platform, thinkorswim. This platform offers advanced charting capabilities and customizable layouts.
TD Ameritrade prides itself on its exceptional customer service, offering 24/7 support via phone, email, and live chat, including a network of physical branches throughout the United States.
Pros and Cons
Charles Schwab
Pros
- 0% commissions on stocks and ETFss
- Accoun types: Individual, joint, IRAs, education savings accounts, 529 education accounts, SEP IRA and solo 401(k)
- Excellent research tools
- Acess to fractional shares
- Large selection of mutual funds
- No minimum account
Cons
- No direct investing in Crypto (only through futures, ETFs, etc)
- No access to European stocks
TD Ameritrade
Pros
- 0% commissions on stocks, ETFs and options
- No minimum deposit
- Good research and educational tools
- Excellent customer support
- Wide investment selection
Cons
- No fractional shares
- The only available market is the US
- No credit/debit cards for deposit/withdrawals
Charles Schwab vs TD Ameritrade: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
