Charles Schwab vs E*Trade Comparison: Fees, Features, and More (2026)
Charles Schwab and E*Trade are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.
| Feature | Charles Schwab | E*Trade |
|---|---|---|
| Website | https://www.schwab.com/ | https://us.etrade.com/home |
| Broker Type | Full-service | Online self-directed brokerage (Morgan Stanley; full-service advisors available) |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0 online (listed stocks/ETFs) | $0 online US-listed stocks/ETFs (OTC $6.95; other fees may apply) |
| Fractional Shares? | Yes (most U.S.-listed stocks/ETFs, from $1) | Yes, select listed stocks/ETFs (up to 3 decimals, $5 min notional; expanding) |
| Percent Allocations? | Yes (Personalized Portfolio Builder) | No (Prebuilt templates with suggested allocations; Core Portfolios managed) |
| Crypto Trading? | Yes, via Schwab Crypto (BTC/ETH currently; not NY/LA/territories) | Yes; BTC, ETH, SOL via linked zerohash account for US individual brokerage clients. |
| Crypto Fees | 0.75% of notional value (min $0.01) per buy/sell | 0.50% of notional value (no spread/markup); charged by zerohash (E*TRADE receives a portion). |
| Options Trading? | Yes | Yes |
| Options Fee | $0 online commission + $0.65 per contract | $0.65/contract ($0.50 with 30+ trades/quarter) plus regulatory/exchange fees. |
| Bond Trading Available? | Yes | Yes; 50,000+ bonds/CDs from many issuers. |
| Receives payment for order flow (PFOF)? | Yes (receives PFOF rebates) | Yes (receives PFOF on NMS stocks, ETFs, and options). |
| Interface: Web trading? | Yes | Yes; E*TRADE web/app and Power E*TRADE web/app/desktop. |
| Desktop trading? | Yes, thinkorswim desktop (Windows/Mac; free for brokerage clients) | Yes, Power E*TRADE Pro (Windows/Mac download) |
| API Trading? | Yes, Trader API (Individual) for self-directed retail accounts (orders, data; via developer.schwab.com) | Yes (Developer Platform REST API; unattended algo orders prohibited) |
| Mutual Funds: Offered? | Yes | Yes |
| Total Mutual Funds | ~14,500 from 600+ families (incl. 4,000+ NTF) | 5,000+ (6,000+ NTF listed on pricing) |
| NTF Mutual Funds | 4,000+ (no-load via OneSource & others) | 6,000+ |
| Non-NTF Fund Fee | Up to $74.95/buy online ($0 sell); some $49.95; 8.5% cap, <$100 exempt | $0 online (no-load NTF); loads per prospectus |
| Early Redemption Fee? | No; $49.95 Schwab fee on NTF funds held ≤90 days (some exemptions) | Yes (no E*TRADE fee; fund fees may apply) |
| Redemption Hold (Days) | 90 days (NTF/OneSource funds; some Schwab Funds exempt) | None (0 days); E*TRADE charges no short-term redemption fee (fund prospectus fees may apply) |
| Early Redemption Fee | $49.95 online/automated phone; $49.95 + $25 broker-assisted | $0 from E*TRADE; fund prospectus redemption fees may apply |
| Accounts: Margin Accounts? | Yes ($2,000 min. cash or marginable securities) | Yes |
| IRAs Offered? | Yes (Traditional, Roth, SEP, Rollover, Inherited, Custodial, SIMPLE) | Yes (Traditional, Roth, SEP, SIMPLE, others) |
| HSAs Offered? | Yes (HSBA via participating HSA providers; no standalone Schwab HSA) | No |
| Money Market Sweep? | Yes (Cash Features Program: Bank Sweep or Schwab One Interest) | Yes (Bank Deposit Program / BDP) |
| CDs Offered? | Yes (brokered CDs via Schwab CD OneSource) | Yes |
| Robo-Advisor: Offered | Yes | Yes |
| Robo-Advisor Service | Schwab Intelligent Portfolios® (Premium also offered) | Core Portfolios |
| Robo-Advisor Fees | $0 advisory (standard); $300 one-time + $30/mo (Premium); ETF OERs 0.02–0.15%. Mins $5k/$25k. | 0.30% annual advisory fee ($500 min.) |
| Basics: Headquarters | Westlake, TX | Arlington, VA |
| Year Founded | 1971 | 1982 |
| Clearing Firm | Charles Schwab & Co., Inc. (self-clearing) | Morgan Stanley Smith Barney LLC |
| Local Branches? | Yes, more than 420 branches in 48 U.S. states | No |
| New Account Minimum | $0 | $0 |
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