Charles Schwab vs TD Ameritrade

Charles Schwab vs TD Ameritrade Comparison Table 2024
Charles Schwab	TD Ameritrade
Review 2.8	Review 4

Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.	TD Ameritrade is a leading discount brokerage offering a vast range of instruments including forex, stocks, futures, options and crypto. The company has nearly 40 years of experience and authorization from the SEC, FINRA and CFTC. Trading takes place via its well-known thinkorswim platform, which offers sophisticated tools and features including stock screeners and calculators.
Comment by Reviewer
"Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts."	"Traders who want access to a huge range of stocks from a reputable broker with low fees should consider TD Ameritrade. On the downside, we miss access to the familiar MetaTrader 4 software."
Pros
Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency Powerful trading software with real-time quotes, fundamental research and investment screeners Responsive customer support team available 24/7 via live chat or telephone Competitive trading fees with no commissions on stocks and ETFs Fractional shares on the S&P 500 with a $5 minimum investment Thematic investing categories and ESG compliant portfolios Strong regulatory oversight from the US SEC and UK FCA No account minimums for individual brokerage accounts High-quality educational resources for new investors	Advanced order types, including OCO and brackets Automated trading capabilities, including robo-advisors Several trading platforms including proprietary award-winning software TD Ameritrade provides rich in-depth research and educational resources Extended 24/7 trading hours allow for international access to the markets The broker facilitates automatic syncing between desktop and mobile trading platforms There is access to over 350 technical studies, 20 drawing tools and 8 Fibonacci tools Active chat rooms to share ideas and communicate with thousands of experienced traders The Economic Data tool allows access to a range of data about the health of global economies Management Services and Essential Portfolios. Reviews of which show high levels of customer satisfaction Portfolio margin gives some users increased leverage by basing margin requirements on total portfolio risk
Cons
Only US markets available (except 12 foreign markets on the Global Account) High minimum investment of $5000 to use robo-advisors Limited funding methods with no e-wallets No email support	CFD trading not available No MT4 or MT5 integration Fractional shares are not offered No direct cryptocurrency trading Broker-assisted trade commissions are around $25 Stringent margin maintenance requirements and high fees New traders may be overwhelmed by the vast amount of information and tools available
Awards
	Best Broker for Beginners 2022 - Investopedia Best Online Broker Awards Best Online Broker for Stock Trading Platform and Research 2022 - NerdWallet's Best-Of Awards #1 Platform & Tools, #1 Active Trading, #1 Options Trading, #1 Customer Service, and #1 Phone Support 2022 - StockBrokers.com Online Broker Review
Instruments
Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds	Forex, Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
Yes	Yes
Minimum Deposit
$0	$0
Trading Platforms
Own	eSignal AutoChartist
Payment Methods
ACH Transfer Automated Customer Account Transfer Service TransferWise Wire Transfer	ACH Transfer Automated Customer Account Transfer Service Cheque TransferWise Wire Transfer
Minimum Trade
$1	$0
Regulator
SEC, FINRA, FCA1	SEC, FINRA, CFTC
Margin Trading
No	Yes
STP Account
No	No
ECN Account
No	No
DMA Account
No	Yes
MAM Account
No	Yes
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
Yes	No
Robo Advisor
Yes	Yes
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	No
Mobile Apps
iOS & Android	iOS & Android
App Review
	TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks.
Auto Trading
Yes	Yes - Auto trading available via bots
Copy Trading
No	No
Social Trading
No	No
Trade Signals
	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
Yes	Yes
Custodial Account
Yes	Yes
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
No	No
Account Currencies
USD	USD
Stock Exchanges
Dow Jones Nasdaq S&P 500 Toronto Stock Exchange	Dow Jones Japan Exchange Group Nasdaq New York Stock Exchange S&P 500 Toronto Stock Exchange Taiwan Stock Exchange
Commodities
Soybeans	Cocoa Coffee Copper Corn Cotton Gasoline Gold Livestock Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat
Forex Trading
Forex trading not offered	Trade 70+ forex pairs including majors, minors or exotics via the desktop, mobile or webtrader app with no commission and 1:2 leverage. The choice of currencies is wider than most forex brokers.
Forex App
	TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks.
GBPUSD Spread
	Variable
EURUSD Spread
	Variable
EURGBP Spread
	Variable
Assets
	75+
Cryptocurrency
Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.	Gain exposure to cryptocurrency markets through OTC crypto trusts, mutual funds and ETFs and Bitcoin futures. This offers portfolio diversification opportunities and trading vehicles beyond standard crypto CFDs.
Spread
Floating	Commission fees apply
Coins
GBTC BITW	BTC ETH MBT MET
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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