Charles Schwab vs TDAmeritrade Comparison: Fees, Features, and More (2025)

Charles Schwab and TDAmeritrade 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 2025.

Head-to-Head Comparison: Charles Schwab vs TDAmeritrade (2025)
Feature Charles Schwab TDAmeritrade
Website https://www.schwab.com/ https://www.tdameritrade.com/
Broker Type Full-Service Full-Service
Trading: Stock & ETF? Yes Yes
ETF & Stock commission No fee No fee
Fractional Shares? No No
Percent Allocations? No No
Crypto Trading? No No
Crypto Fees not applicable not applicable
Options Trading? Yes Yes
Options Fee 65 cents 65 cents
Bond Trading Available? Yes Yes
Pays for Order Flow (PFOF)? Yes Yes
Interface: Web trading? Yes Yes
Desktop trading? Yes; StreetSmart Edge Yes; thinkorswim
API Trading? No Yes; TD Ameritrade for Developers
Mutual Funds: Offered? Yes Yes
Total Mutual Funds Over 10,000 Over 13,000
NTF Mutual Funds Over 4,000 Over 3,700
Non-NTF Fund Fee $74.95 $49.99
Early Redemption Fee? Yes Yes
Redemption Hold (Days) 90 days 30 days
Early Redemption Fee $49.95 $49.99
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes Yes
HSAs Offered? Yes, through other providers Yes, through other providers
Money Market Sweep? No No
CDs Offered? Yes Yes
Robo-Advisor: Offered Yes Yes
Robo-Advisor Service Schwab Intelligent Portfolios Schwab Intelligent Portfolios
Robo-Advisor Fes 0.00% to 0.30% 0.00% to 0.30%
Basics: Headquarters San Francisco, CA Omaha, NE
Year Founded 1971 1975
Clearing Firm Charles Schwab & Co., Inc. TD Ameritrade Clearing
Local Branches? Yes, about 400 locations Yes, about 260 locations
New Account Minimum $0 $0

Once you’ve chosen a broker, find high-performing, investable model portfolios at RecipeInvesting.com


Compare Charles Schwab to All Brokers