In this Charles Schwab vs E*TRADE comparison review we will show you which broker is the better option for your needs. We will details everything from fees to revenue data and security measures implemented. Everything and more in the tables below.
Charles Schwab vs E*TRADE: Popularity
| Query | Charles Schwab | E*TRADE |
| Number of users (approximate) | 14.2m | 7.1m |
| Website traffic (estimated) | 38.3m | 28.7m |
| # results on web | 30.7m | 2bn |
| Search volume Google | 550K | 673K |
| Twitter followers | 103.3K | 73.5K |
| FB followers | 252K | 158K |
| How popular on mainstream media? | High | High |
| Negative media? | Medium | Medium |
| Notable awards | 2020 Highest in Investor Satisfaction with DIY Self-Directed Services Recognition | Best Web Platform 2020, Best Online Brokers 2019 |
Charles Schwab seems to be the more popular choice in almost every category, out of which is the number of clients is the most important one. Charles Schwab has double the number of active clients than E*TRADE.
Charles Schwab vs E*TRADE: User Rating
| Query | Charles Schwab | E*TRADE |
| # users rated on user platforms | 21 on TrustPilot, 8 on SiteJabber | 35 on TrustPilot, 107 on SiteJabber |
| Percentage of positive reviews out of user reviews | 62% | 20% |
| Common compliments | Diverse services, trusted and reliable | Fantastic trading platform, fast and reliable. |
| Common complaints | Frequently undergoing maintenance, not great for options | Customer service is terrible sometimes. |
| Positive feedback on Twitter? | Helpful customer support | Good and easy to use platform |
| Negative feedback on Twitter? | Mobile app is constantly going down | Long waiting times for support and recurring downtime. |
| App rating (summary) | 344K+ reviews with an average 4.5 / 5 rating | 130K reviews with an average rating of 4.15 / 5 |
Even though the number of reviews online is lower than for E*TRADE, Charles Schwab has a bigger percentage of positive ratings overall. Also, almost as an anomaly for this market, people on Twitter seem to appreciate their customer support.
Charles Schwab vs E*TRADE: Background Information
| Query | Charles Schwab | E*TRADE |
| Company public/private | Public | Public |
| Revenue Data | $2.45 billion in Q2 2020 | $3.145B annual revenue for 2019 |
| CEO and bio | Walter W. Bettinger II – Is the CEO since October 2008 and is credited with leading Schwab through the financial crisis. | Mike Pizzi – Over 12 years working in the company where he was also the CFO and Chief Risk Officer |
| Number of employees | 19,500 | 4,000 |
| Notable investors (private companies) | None | E*TRADE was acquired by Morgan Stanley for $13B on Feb 20, 2020. |
As we can see from the table above, Charles Schwab is clearly the bigger player both in terms of revenue data and from the number of employees.
Charles Schwab vs E*TRADE: Security
| Query | Charles Schwab | E*TRADE |
| HTTPS Certificate | Yes | Yes |
| 2FA ? | Yes | Yes |
| Device monitoring? | Yes | Yes |
| New device extra security? | Yes | Yes |
Both companies have implemented all the important security measures needed to keep their clients and their assets safe.
Charles Schwab vs E*TRADE: Fees & Offering
| Query | Charles Schwab | E*TRADE |
| Account minimum | None | None |
| Account fixed fees | None | None |
| Fractional shares? | Yes | No |
| Margin costs | Varies | Varies |
| ETF buying fees | None | None |
| Stock buying fees | None | None |
| Option buying fees | None | $0.50 |
| Short selling fees | Varies | None |
| Futures buying fees | $1.5 per contract | $1.50 |
| Future options buying fees | $0 base + $0.65 per options contract | $1.50 |
| Cryptocurrency fees | Not available | Not available |
| Fixed income fees | None | $1 per bond |
| Mutual funds fees | None | None |
From the fees perspective, both Charles Schwab and E*TRADE are very similar. Both allow customers to buy stocks, ETFs, and many more for free. But the main difference is that Charles Schwab also allows for the buying of fractional shares and this is a growing trend, especially in the younger generation of investors.
Charles Schwab vs E*TRADE: Trading App
| Query | Charles Schwab | E*TRADE |
| Android app # installs | 1m+ | 1m+ |
| Android app # reviews | 17K | 14K |
| iPhone app # reviews | 327K | 113K |
| Android app rating | 4.2 / 5 | 3.7 / 5 |
| iPhone app rating | 4.8 / 5 | 4.6 / 5 |
| Common compliments on app | Good research tools and readily available information | The app is user friendly, easy to navigate and make trades |
| Common complaints on app | Clunky and consistent problems with the login process | Several log-in attempts before logging in |
| Weighted average app rating | 4.5 / 5 | 4.15 / 5 |
Very similar stats for their mobile trading apps with very similar complaints from the users. The only deciding factor is the average app rating from both app stores, which gives us the winner to be Charles Schwab.
Final conclusions:
This Charles Schwab vs E*TRADE comparison has been very close because the companies are very similar in many aspects. But overall, we need to choose Charles Schwab the winner for its size, profitability, the fact that they provide fractional share buying and because they have the better mobile app.