TradeStation Vs. Charles Schwab: Find Out Which is Best in 2020?

TradeStation is a brokerage firm offering its clients commission-free trades. It offers high-speed trade execution along with professional data on an expert level dashboard. TradeStation is an ideal brokerage firm for an expert trader as well as a beginner.


Charles Schwab offers the most comprehensive trading services in the market. The firm offers a vast number of tools, products, and trading services. The platform is great for long term investors, as well as day and retail traders.

Charles Schwab

Trading Services

Both brokers offer a great trading platform. However, when it comes to trading tools, TradeStation is the clear winner & know more about their trading tool in comparison, Charles Schwab offers superior market research. The mobile trading apps of TradeStation are also better when compared to that of Charles Schwab. 

Schwab’s online tools and platforms include web/mobile trading software. The software is called StreetSmart Edge, which allows its traders to customize the platform according to their criteria. 

Charles Schwab Trading Platforms

According to our expert’s TradeStation Broker Review, they offer a platform that allows real-time search and tracking. Another great tool that TradeStation offers is a TradeStation simulator which allows clients to try out their investing strategies before any risk. 

TradeStation Services

Account Types

Charles Schwab offers a standard brokerage account where there are no contribution limits and more flexibility in trading. The brokerage allows you to select between an individual brokerage account and a Joint brokerage account, which is shared by two or more individuals. 

TradeStation offers five different types of accounts which are:

  1. Joint account
  2. Individual account
  3. IRA
  4. Entity
  5. Custodial

Trading Fees and Commissions

According to the difference between TradeStation & TD Ameritrade, it offers commission-free investment and volume-based discounts to its active traders. Here is the comparison of TradeStation trading fees with that of Charles Schwab’s: 

TradeStation Charles Schwab
Mutual funds$14.95 per purchase$76 per purchase
ETFs$8.99 per trade$8.95 per trade
Stocks and options$8.99 per trade along with $0.70 per options contract$8.95 per trade along with $0.75 per options contract
Pros and Cons

Both Charles Schwab and TradeStation allow their traders to invest via their user-intuitive trading platform. However, each has its own pros and cons. Let’s look at the pros and cons of Charles Schwab first:

Free Stock and ETF tradingFees can be high for mutual funds
Outstanding customer serviceOnly covers U.S. market
Great researchThe educational platform not well structured

Here are the Pros and Cons of TradeStation:

Low trading feesAccount opening process complicated
Good customer serviceNot user-friendly withdrawal and deposit
Huge range of productsLimitation in education material

TradeStation offers most of the features that are ideal for an active and expert trader including multiple tradable products, low trading commissions, a robust trading platform, and useful research tools. The platform is also suitable for beginners as the account opening procedure is easy & click here to know procedure. Also it has a platform with name YouCanTrade which gives access to the trading basics.

Charles Schwab may not be ideal for an inexperienced trader as some research tools, simulated trades, and online tutorials are available to only those with $5000 of the minimum account balance. However, the brokerage firm ranks top in terms of fee-free products and research guidance tools.