| Feature |  E*TRADE | Charles Schwab |
|---|---|---|
| Stock & ETF Commission | $0Tie | $0Tie |
| Account Minimum | $0Tie | $0Tie |
| Options Commission | $0.50–$0.65/contract✓ Better | $0.65/contract |
| Advanced Trading Platform | Power E*TRADETie | thinkorswim (TD Ameritrade)Tie |
| Physical Branches | Limited | Yes (300+)✓ Better |
| Customer Service | 24/7 phone & chatTie | 24/7 phone & chatTie |
| Robo-Advisor | Core Portfolios ($500 min) | Schwab Intelligent Portfolios (free)✓ Better |
| Fractional Shares | No | Yes ($5 min)✓ Better |
| Futures Trading | YesTie | YesTie |
| Research Tools | 4.8/5 (Morgan Stanley)Tie | 4.8/5Tie |
| Mutual Funds | 6,000+✓ Better | 4,000+ |
| Parent Company | Morgan StanleyTie | IndependentTie |
⚖ WiseIQ Verdict: Charles Schwab Wins
Charles Schwab wins for most investors due to its 300+ physical branches, slightly lower options fees for high-volume traders, and free robo-advisor. E*TRADE wins for options traders who prefer the Power E*TRADE platform over thinkorswim.
Best for E*TRADE: Active options traders who prefer the Power E*TRADE platform and Morgan Stanley research.
Best for Charles Schwab: Most investors — especially those who want physical branch access, a free robo-advisor, or fractional shares.
Category Ratings Comparison
Detailed Breakdown
Fees and Commissions
Both E*TRADE and Charles Schwab charge $0 commissions on stock and ETF trades — the industry standard since 2019. The key fee differences are in options contracts, mutual fund fees, and account-level charges. See the comparison table above for specifics.
Investment Selection
The breadth of available investments varies between the two brokerages. Both offer stocks, ETFs, and options. Differences in mutual fund availability, cryptocurrency access, and fractional share minimums are highlighted in the comparison table.
Platform and Mobile App
Platform quality is a major differentiator for active traders. Both brokerages offer web and mobile platforms, but the depth of charting tools, research integration, and overall user experience differ. See the category ratings above for a direct comparison.
Who Should Choose Charles Schwab?
Charles Schwab wins for most investors due to its 300+ physical branches, slightly lower options fees for high-volume traders, and free robo-advisor. E*TRADE wins for options traders who prefer the Power E*TRADE platform over thinkorswim.
Frequently Asked Questions
WiseIQ evaluates brokerages across 6 categories: commissions and fees, investment selection, research and tools, mobile app, customer service, and ease of use. Ratings are based on hands-on testing, fee schedule analysis, and comparison with industry peers. Updated April 2026.