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Charles Schwab vs Tastytrade
Detailed comparison of fees, features and products
4.9
BROKER ONLY4.4
BROKER ONLYFeature Comparison
| Feature Comparison | Charles Schwab | Tastytrade |
|---|---|---|
| Wide Offering | ||
| Fractional Shares & DRIP | ||
| Free Savings Plan | ||
| Cash Sweep Yield | ||
| US Support | ||
| Tax Documents (1099) | ||
| SIPC $500k + FDIC | ||
| Score | 7/7 | 5/7 |
Fee Comparison
| Fee Comparison | Charles Schwab | Tastytrade |
|---|---|---|
| IRA Accounts (Roth, Traditional) | $0 commission | $0 commission |
| Cash Sweep Yield | $0 commission | $0 commission |
| Crypto Fee | Via ETF only | 1% + $0.10/contract |
| Margin Rate | N/A | N/A |
| Inactivity Fee | None | None |
| Deposit Fee | Free | Free |
| Withdrawal Fee | Free | Free |
| Min. Deposit | 0 | 0 |
Product Range
| Product Range | Charles Schwab | Tastytrade |
|---|---|---|
| Stocks | All US + international | All US stocks |
| ETFs | All US ETFs | All US ETFs |
| Mutual Funds | 10,000+ mutual funds | Limited |
| Bonds | Full bond desk | Limited |
| Crypto | Via ETF only | 10+ cryptocurrencies |
Pros & Cons
Pros
- Now owns thinkorswim: Best trading platform in America
- Institutional-grade research free for all clients
- SIPC $500k + FDIC sweep up to $1.25M
- One-stop shop: banking, investing, financial planning
- Excellent 24/7 customer service
- Schwab Slices: fractional shares from $5
Cons
- No direct crypto (ETFs only)
- Cash sweep yield slightly lower than Fidelity
- Mobile app less intuitive than neobrokers
Pros
- Options paradise: $1/contract with $10 cap per leg
- Created by thinkorswim founders
- Live trading content and education daily
- Best platform for options strategies
- SIPC $500k protected
- Futures trading available
Cons
- Not ideal for passive index investors
- No fractional shares
- Less research for fundamentals
- Focused mainly on derivatives