Interactive Brokers Trader Workstation (TWS) is better suited for experienced, active traders who need a wide range of investment options and advanced tools. Charles Schwab Intelligent Portfolios Premium is better for passive investors looking for automated portfolio management and financial planning services, but it comes with advisory fees and a higher minimum account balance.
| Attribute | Interactive Brokers Trader Workstation (TWS) | Charles Schwab Intelligent Portfolios Premium |
|---|---|---|
| Commission fees for stocks and ETFs | IBKR Lite offers zero-commission for US-listed stocks and ETFs. IBKR Pro has tiered and fixed-rate options. Fixed-rate is $0.005 per share with a minimum of $1 and a maximum of 1% of the trade value. Tiered pricing depends on monthly trading volume. | No commissions charged for trading stocks and ETFs, but clients pay the operating expenses on the ETFs within their portfolio. One-time planning fee of $300 and a monthly advisory fee of $30 for Schwab Intelligent Portfolios Premium. |
| Minimum account balance requirement | IBKR doesn't have a minimum account balance requirement. | $5,000 for Schwab Intelligent Portfolios, $25,000 for Schwab Intelligent Portfolios Premium. Falling below $25,000 could result in loss of access to the financial plan and CFP professional. |
| Availability of international markets | TWS provides access to over 160 markets worldwide. | Invests in a diversified portfolio of ETFs, which may include international stocks and bonds. |
| Platform and mobile app usability | TWS is designed for active traders who need power and flexibility. It offers customization. Mosaic is a customizable workspace within TWS for trading, charting, and portfolio management. IBKR offers mobile apps for trading on the go. | Available online and through Android or iOS mobile apps. Designed for almost anyone who wants to start investing, regardless of experience. |
| Range of investment options (stocks, bonds, options, futures, forex, crypto) | TWS supports stocks, options, futures, currencies, bonds, ETFs, and funds. It also provides access to forex and cryptocurrency trading. | Up to 53 ETFs across 20 asset classes, including stocks, fixed income, real estate, and commodities. |
| Automated investing/robo-advisor features | Not available | Automated portfolio creation and management, automatic rebalancing, tax-loss harvesting (for balances above $50,000). |
| Availability of margin trading | IBKR offers margin trading. Margin trading is for experienced investors with high-risk tolerance. They offer low margin loan interest rates. | Not available |
| Research and educational resources | TWS provides real-time market data, news, and research from providers like Reuters, Dow Jones, Morningstar, and Zacks. IBKR offers a Traders' Academy for learning about the platform and trading. | Charles Schwab is a large brokerage with educational resources. |
| Customer support quality and availability | Contact Client Services through Live Chat or Phone Call. If you believe that your account has been compromised, you should notify IBKR immediately via their toll free number 1 (877)-442-2757. | 24/7 live chat support, phone support, local branches. Schwab investment professional is available 24/7. |
| Account security features | IBKR uses two-factor authentication. It employs Secure Socket Layer (SSL) and encryption. TWS allows restricting access by IP address. They have automated monitoring systems and a dedicated security team. | SIPC protection up to $500,000 (including $250,000 for cash), FDIC insurance for cash held in Schwab Bank deposit accounts up to $250,000. |
| Portfolio analysis tools | TWS includes the Risk Navigator for real-time risk management. PortfolioAnalyst is available for performance reporting. | Premium portfolios include extra digital planning tools to simulate future life events. |
| Tax optimization strategies | TWS has a Tax Optimizer tool to manage gains and losses for tax purposes. It allows changing tax lot-matching methods. | Tax-loss harvesting is available for accounts with invested assets of $50,000 or more. |