VOL. XCIV, NO. 247

★ FINANCIAL TOOLS & SERVICES DIRECTORY ★

PRICE: 5 CENTS

Monday, November 10, 2025

Tool Comparison

Charles Schwab vs Interactive Brokers comparison

Compare pricing, supported platforms, categories, and standout capabilities to decide which tool fits your workflow.

Quick takeaways

Charles Schwab adds News, Alerts, Calendar, Videos, Blogs, Newsletters, and Screeners coverage that Interactive Brokers skips.

Interactive Brokers includes APIs & SDKs, Data APIs, Risk Metrics (VaR/ES/Drawdown), Scenario & Stress Tests, and Performance Attribution categories that Charles Schwab omits.

In depth comparison

Charles Schwab

schwab.com

One of the largest US brokerages, combining commission-free stock and ETF trading with deep functionality through the thinkorswim® platform suite (desktop, web, and mobile). Options are priced at $0.65 per contract, with 24/5 trading on over a thousand stocks and ETFs. Investors can trade futures and forex (approval required), use paperMoney® for risk-free practice, and even buy fractional shares of S&P 500 companies starting at $5 through Stock Slices®. Schwab also provides flexible alerts, advanced order types, tax integrations, and access to research and screeners—all backed by decades of brand trust.

Platforms

WebMobileDesktop

Pricing

Other

Quick highlights

Zero-commission online trades for stocks and ETFs; options at $0.65 per contract.
thinkorswim® platform suite (desktop, web, mobile) plus Schwab Mobile, with extended 24/5 trading access to 1,100+ stocks and ETFs.
paperMoney® virtual accounts that let you practice trading with live market data.
Tradable universe spans stocks, ETFs, options, futures, and forex—though futures and forex require separate approval and are offered by Schwab Futures & Forex LLC.
Fractional share investing via Stock Slices®: S&P 500 companies, starting from $5.

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Interactive Brokers

interactivebrokers.co.uk

Editor’s pick Hands-on review

A global, multi-asset direct-access broker with coverage across 160 markets in 36 countries and 28 currencies. Crypto trading and some services vary by region (IBKR Crypto is powered by Paxos or Zero Hash where supported). Client APIs include the Client Portal Web API and TWS API; retail users authenticate via the local Client Portal Gateway, while OAuth2 applies to approved web integrations.

Platforms

WebMobileDesktopAPI

Pricing

Other

Quick highlights

Single universal account providing access to around 160 markets across 36 countries and 28 currencies.
More than 100 order types and algos, including Bracket, OCO, and OCA, with either SMART routing or direct exchange routing.
Market depth (Level II) and full order book views via Trader Workstation (TWS).
Advanced options analytics with Greeks, implied volatility curves, and a 3D volatility surface viewer.
Risk Navigator for real-time portfolio risk, Value-at-Risk, and what-if scenario analysis.

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Where they differ

Charles Schwab

Distinct strengths include:

News Alerts Calendar Videos Blogs Newsletters Screeners

Zero-commission online trades for stocks and ETFs; options at $0.65 per contract.
thinkorswim® platform suite (desktop, web, mobile) plus Schwab Mobile, with extended 24/5 trading access to 1,100+ stocks and ETFs.
paperMoney® virtual accounts that let you practice trading with live market data.
Tradable universe spans stocks, ETFs, options, futures, and forex—though futures and forex require separate approval and are offered by Schwab Futures & Forex LLC.

Interactive Brokers

Distinct strengths include:

APIs & SDKs Data APIs Risk Metrics (VaR/ES/Drawdown)Scenario & Stress Tests Performance Attribution

Single universal account providing access to around 160 markets across 36 countries and 28 currencies.
More than 100 order types and algos, including Bracket, OCO, and OCA, with either SMART routing or direct exchange routing.
Market depth (Level II) and full order book views via Trader Workstation (TWS).
Advanced options analytics with Greeks, implied volatility curves, and a 3D volatility surface viewer.

Feature-by-feature breakdown

Attribute	Charles Schwab	Interactive Brokers
Categories Which research workflows each platform targets	Shared: Brokerage, Portfolio, Watchlist, Options & Derivatives, Paper Trading, Advanced Order Types, Smart/Direct Routing, Order Book / Level II Unique: News, Alerts, Calendar, Videos, Blogs, Newsletters, Screeners	Shared: Brokerage, Portfolio, Watchlist, Options & Derivatives, Paper Trading, Advanced Order Types, Smart/Direct Routing, Order Book / Level II Unique: APIs & SDKs, Data APIs, Risk Metrics (VaR/ES/Drawdown), Scenario & Stress Tests, Performance Attribution
Asset types Supported asset classes and universes	Stocks, ETFs, Options, Futures, Mutual Funds, Bonds, Currencies	Stocks, ETFs, Options, Futures, Bonds, Mutual Funds, Currencies, Commodities, Cryptos
Experience levels Who each product is built for	Beginner, Intermediate, Advanced	Beginner, Intermediate, Advanced
Platforms Where you can access the product	Web, Mobile, Desktop	Web, Mobile, Desktop, API
Pricing High-level pricing models	Other	Other
Key features Core capabilities called out by each vendor	Unique Zero-commission online trades for stocks and ETFs; options at $0.65 per contract. thinkorswim® platform suite (desktop, web, mobile) plus Schwab Mobile, with extended 24/5 trading access to 1,100+ stocks and ETFs. paperMoney® virtual accounts that let you practice trading with live market data. Tradable universe spans stocks, ETFs, options, futures, and forex—though futures and forex require separate approval and are offered by Schwab Futures & Forex LLC. Fractional share investing via Stock Slices®: S&P 500 companies, starting from $5. Advanced order types supported, including OCO brackets and conditional orders.	Unique Single universal account providing access to around 160 markets across 36 countries and 28 currencies. More than 100 order types and algos, including Bracket, OCO, and OCA, with either SMART routing or direct exchange routing. Market depth (Level II) and full order book views via Trader Workstation (TWS). Advanced options analytics with Greeks, implied volatility curves, and a 3D volatility surface viewer. Risk Navigator for real-time portfolio risk, Value-at-Risk, and what-if scenario analysis. Portfolio Rebalancer tool to realign or target allocation weights across accounts.
Tested Verified by hands-on testing inside Find My Moat	Not yet	Yes
Editor pick Featured inside curated shortlists	Standard listing	Highlighted

Frequently Asked Questions

Which workflows do Charles Schwab and Interactive Brokers both support?

Both platforms cover Brokerage, Portfolio, Watchlist, Options & Derivatives, Paper Trading, Advanced Order Types, Smart/Direct Routing, and Order Book / Level II workflows, so you can research those use cases in either tool before digging into the feature differences below.

Do Charles Schwab and Interactive Brokers require subscriptions?

Neither platform maintains a free tier. Budget for a subscription to unlock the research coverage highlighted in this comparison.

How can you access Charles Schwab and Interactive Brokers?

Both Charles Schwab and Interactive Brokers support web and mobile access, making it easy to keep tabs on research away from the desk.

What unique strengths set the two platforms apart?

Charles Schwab differentiates itself with Zero-commission online trades for stocks and ETFs; options at $0.65 per contract., thinkorswim® platform suite (desktop, web, mobile) plus Schwab Mobile, with extended 24/5 trading access to 1,100+ stocks and ETFs., and paperMoney® virtual accounts that let you practice trading with live market data., whereas Interactive Brokers stands out for Single universal account providing access to around 160 markets across 36 countries and 28 currencies., More than 100 order types and algos, including Bracket, OCO, and OCA, with either SMART routing or direct exchange routing., and Market depth (Level II) and full order book views via Trader Workstation (TWS)..

Keep exploring

Stay on top of related tools

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