Charles Schwab vs TD Ameritrade

This article is about the comparison between Charles Schwab vs TD Ameritrade. Selecting the best from these two amazing brokerages with competitive features depends on what your needs are.

Charles Schwab vs TD Ameritrade
Charles Schwab vs TD Ameritrade

Charles Schwab is a good choice for beginners and advanced investors who seek to invest in ETFs and mutual funds. It is also good for investors that are into extensive research. Read more on this article to get the similarity between both, as well as some differences.

Charles Schwab vs TD Ameritrade

Charles Schwab offers stick and ETF trades at $0 commission and options trading at the same commission plus $0.65 per contract. There is no minimum deposit, no maintenance fee, and no inactivity fee.

TD Ameritrade also offers a $0 commission online stock, ETF, and options trades. This company has more than 100 branch locations, and there is also no minimum deposit required, no maintenance fee, and no inactivity fee.

About Charles Schwab

Charles Schwab is a brokerage company founded in 1973 with its headquarters in San Francisco. It is a company that has grown to become one of the biggest and affordable brokerages in the U.S.

The platform offers among the lowest trade commissions in the discount brokerage industry with very low-fee mutual funds as well as exchange-traded funds (ETFs). On this platform, users can open any type of investment account.

About TD Ameritrade

This is one of the major United States brokerages founded in 1971, and located in Omaha. The company is popular for its top-tier trading platform and access to a variety of tradable assets.

Over the years, the platform has made a few big acquisitions including TD Waterhouse, Thinkorswim, and Scottrade. In October 2019, it started offering commission-free online trading for stocks, ETFs, and options.

Similar Features of Charles Schwab vs TD Ameritrade

Below are some of the similar features both platforms offer to their users:

Minimum Investment

None of the platforms requires a minimum investment to get started.

Investment Account Types

Both Charles Schwab vs TD Ameritrade offers taxable individual and joint accounts, traditional, and Roth IRA accounts.

Investment Types

They both lets users invest in stock and options.

Mobile Apps

Charles Schwab vs TD Ameritrade emphasizes investing with their mobile applications available on both Android and iOS mobile devices.

No-Fee ETFs

They both offer commission fee-free ETFs.

Difference Between Charles Schwab vs TD Ameritrade

Fees: The costs for Charles Schwab stand at about $5 per stock trade. TD Ameritrade is commission-free for trading stocks, ETFs, and options online.

Available Accounts

Charles Schwab offers checking accounts and savings accounts. While TD Ameritrade offers varieties of investment accounts, including trusts, 529s, and Coverdell college savings accounts, annuities, money markets, and certificates of deposit (CDs). Additionally, supports taxable accounts and IRAs.

Customer Service

They both offer 24/7 phone and live chat support on the platform.

Unique Features of Charles Schwab

They include:

  • It offers a handful of amazing features like no-fee Robo advisor and its own family of mutual funds and ETFs you can trade without any fee. Charles Schwab index funds are some of the cheapest stocks you can get around.
  • Charles Schwab comes helps a typical investor and offers customers a very good active trading platform, StreetSmart. It also supports most types of popular investments. With it, you can ensure that both active and passive investment needs are covered.

Unique Features of TD Ameritrade

They include:

  • The brokerage offers excellent educational resources to level up your trading
  • With its acquisition of Thinkorswim, the platform launched the brokerage to the very top of the list for trading tools offered by other major brokerages. This is TD Ameritrade’s active trading platform
  • TD Ameritrade supports all investing and trading needs. Its most visible feature is the active trading tools and ability to trade anything that exists. Some of these tools include stocks, options, ETFs, bonds, mutual funds, futures, Forex, and other cryptocurrencies. It also possesses cash management and annuity.

What is Charles Schwab vs TD Ameritrade Best For?

Charles Schwab

This platform is best for an average investor who wants all accounts at the same brokerage. Users can take advantage of its excellent selection of account and investment types.

TD Ameritrade

It works best for professionals and expert-level investors and traders.


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