Interactive Brokers is better for experienced traders seeking low fees and global market access, while Charles Schwab is more suitable for beginners who value user-friendliness and excellent customer support.
| Attribute | Interactive Brokers | Charles Schwab |
|---|---|---|
| Fees | Low fees (e.g., 0.08% commission per trade or as low as $0 for Singapore stocks), No custody fees for Singapore stocks, No account minimum (except in Hong Kong (HKD 10,000) and countries in the MENA region ($5,000)), No annual fees, inactivity fees, or transfer fees, Withdrawal fees after the first withdrawal each month | No commissions for stock, options, and ETF trades; $0.65 per contract for options; $0 for Treasury bonds, other bonds secondary transaction fee: $1/bond, min $10, max $250; No account minimum to open a brokerage account; No fees for brokerage accounts or IRAs; Commission fees apply to certain assets such as OTC equities and futures |
| Investment Options | Stocks, options, futures, ETFs, forex, bonds, funds, crypto, precious metals, Fractional shares trading for US and European stocks and ETFs | Stocks, bonds, mutual funds, fractional shares of S&P 500 stocks (minimum $5); Access to US investment products, including stocks, options, and bonds; Some 4,000 mutual funds whose trading is free; Trade stocks listed on U.S. exchanges, international stocks. |
| Trading Platform | Advanced trading platforms (Trader Workstation (TWS), Client Portal, IBKR Desktop), Direct market access | User-friendly interface, easy navigation; Access and manage cash in your brokerage account online or via the Schwab mobile app. |
| Research & Education | Access to market and company research from groups like Motley Fool, Seeking Alpha, and Morningstar, Comprehensive suite of research tools, Educational resources including courses, webinars, podcasts, and market commentaries | Schwab's own equity ratings, analyses and commentary from top research firms; Workshops and webinars. |
| Customer Support | Customer support can be inconsistent with long wait times and unhelpful responses | Excellent customer support, swift and to-the-point responses across several channels; Charles Schwab Bank Ranks #1 in Customer Satisfaction Among Both Checking and Savings Providers in J.D. Power 2025 U.S. Direct Banking Satisfaction Study. |
| Interest on Cash | Interest earned on instantly available cash balances over USD 10,000 (up to 4.83%) | Low default interest rate on cash balances |