Comparison of Interactive Brokers and Charles Schwab
| Feature | Interactive Brokers | Charles Schwab |
|---|---|---|
| Broker | ||
| Year Founded | 1977 | 1973 |
| Broker Type | DMA | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | SEC, FINRA, CFTC, NFA, FDIC |
| Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
| Spread | ⬊ Low | ⮕ Average |
| Maximum Leverage | 1:50 | 1:50 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD |
| Funding Methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer |
| Inactivity Fee | ✖ | ✖ |
| Interest on Margin | ✔ | ✖ |
| Withdrawal Fee | First withdrawal each month free; subsequent bank wires ~ $10 | $25 domestic wire ($15 online); $0 ACH |
| Investor Protection | SIPC, FSCS, ICS | SIPC |
| Protection Size | $500 000 / £85 000 | $500 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✖ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Commodities |
| Review | Interactive Brokers Review | Charles Schwab Review |
About Interactive Brokers
Interactive Brokers (IBKR) is a global multi-asset broker founded in 1977. Regulated on four continents, IBKR offers direct market access to 150+ exchanges in 33 countries, tight pricing on FX, and some of the lowest commissions in the industry. Clients trade via the powerful Trader Workstation, streamlined Client Portal, or mobile apps, choose from 20+ base currencies, and benefit from SIPC/FSCS investor protection and ESMA-mandated negative balance protection for CFDs.
Pros
- Tier-1 regulation in the US, UK, EU, Canada, Australia, Asia
- Access to 150+ markets across 33 countries and 26 currencies
- Ultra-low spreads and volume-based commissions
- Advanced Trader Workstation plus simple mobile & web platforms
- No minimum deposit for cash accounts and no inactivity fee
- Negative balance protection for EU retail CFD traders
Cons
- Minimum FX order size ~ 20 000 units limits small accounts
- Trader Workstation has a steep learning curve
- No credit/debit-card funding options
- Customer support is not 24/7
About Charles Schwab
Charles Schwab is one of the largest U.S. brokers, serving more than 34 million clients with over $9 trillion in assets. Schwab offers zero-commission stock and ETF trades, powerful thinkorswim and StreetSmart Edge platforms, and access to 65+ forex pairs, futures, and 24/5 equity trading. Client assets are protected by SIPC up to $500,000 with additional coverage up to $600 million.
Pros
- Commission-free online stock and ETF trades
- No minimum deposit or inactivity fee
- 65+ forex pairs and 24/5 trading
- Robust research and education tools
- Enhanced SIPC protection up to $600 million
Cons
- $25 fee for outgoing domestic wires
- No direct spot-crypto or MT4/MT5
- Advanced platforms can overwhelm beginners
Interactive Brokers & Charles Schwab Regulation
| Feature | Interactive Brokers | Charles Schwab |
|---|---|---|
Companies | Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd | Charles Schwab & Co., Inc.; Charles Schwab Bank, SSB |
Countries | United States, United Kingdom, Ireland, Canada, Australia | United States |
Regulators | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | SEC, FINRA, CFTC, NFA, FDIC |
Investor Protection | SIPC, FSCS, ICS | SIPC |
Investor Protection Size | $500 000 / £85 000 | $500 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
Interactive Brokers
Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd
Charles Schwab
Charles Schwab & Co., Inc.; Charles Schwab Bank, SSB
Countries
Interactive Brokers
United States, United Kingdom, Ireland, Canada, Australia
Charles Schwab
United States
Regulators
Interactive Brokers
SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS
Charles Schwab
SEC, FINRA, CFTC, NFA, FDIC
Investor Protection
Interactive Brokers
SIPC, FSCS, ICS
Charles Schwab
SIPC
Investor Protection Size
Interactive Brokers
$500 000 / £85 000
Charles Schwab
$500 000
Publicly Traded
Interactive Brokers
Charles Schwab
Segregated Accounts
Interactive Brokers
Charles Schwab
Guaranteed Stop Loss
Interactive Brokers
Charles Schwab
Negative Balance Protection
Interactive Brokers
Charles Schwab
Account Types
| Account | Interactive Brokers | Charles Schwab |
|---|---|---|
DMA Account | ||
| Account Name | IBKR Pro | Schwab One® |
| Min Deposit | $0 | $1 |
| Lot Size | 0.01 | 0.1 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.1 | 1.4 |
| Fee | $4 per 1 lot | No |
| Max Leverage | 1:50 | 1:50 |
| Stop Out | 50% | 30% |
| Margin Call | 100% | 50% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
DMA Account
Account Name
Interactive Brokers
IBKR Pro
Charles Schwab
Schwab One®
Min Deposit
Interactive Brokers
$0
Charles Schwab
$1
Lot Size
Interactive Brokers
0.01
Charles Schwab
0.1
Spread Type
Interactive Brokers
Floating
Charles Schwab
Floating
Execution
Interactive Brokers
Market
Charles Schwab
Market
Min Spread
Interactive Brokers
0.1
Charles Schwab
1.4
Fee
Interactive Brokers
$4 per 1 lot
Charles Schwab
No
Max Leverage
Interactive Brokers
1:50
Charles Schwab
1:50
Stop Out
Interactive Brokers
50%
Charles Schwab
30%
Margin Call
Interactive Brokers
100%
Charles Schwab
50%
Additional Features
Demo Account
Interactive Brokers
Charles Schwab
VIP Account
Interactive Brokers
Charles Schwab
Swap-Free Account
Interactive Brokers
Charles Schwab
Copy Trading
Interactive Brokers
Charles Schwab
VPS
Interactive Brokers
Charles Schwab
PAMM/MAM Accounts
Interactive Brokers
Charles Schwab
Funding and Fees
| Feature | Interactive Brokers | Charles Schwab |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD |
Deposit and withdrawal methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer |
Inactivity fee | ||
Interest on margin | ||
Withdrawal fee | First withdrawal each month free; subsequent bank wires ~ $10 | $25 domestic wire ($15 online); $0 ACH |
Base currencies
Interactive Brokers
USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD
Charles Schwab
USD
Deposit and withdrawal methods
Interactive Brokers
Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay
Charles Schwab
Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer
Inactivity fee
Interactive Brokers
Charles Schwab
Interest on margin
Interactive Brokers
Charles Schwab
Withdrawal fee
Interactive Brokers
First withdrawal each month free; subsequent bank wires ~ $10
Charles Schwab
$25 domestic wire ($15 online); $0 ACH
Trading Platforms and Conditions
| Feature | Interactive Brokers | Charles Schwab |
|---|---|---|
Trading Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
Execution Speed | 4 ms | 50 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | average |
Trading Platforms
Interactive Brokers
Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader
Charles Schwab
Thinkorswim, StreetSmart Edge, Schwab Web, Mobile
Execution Speed
Interactive Brokers
4 ms
Charles Schwab
50 ms
Scalping
Interactive Brokers
Charles Schwab
Expert Advisors (EAs)
Interactive Brokers
Charles Schwab
Depth of Market (DOM)
Interactive Brokers
Charles Schwab
Spread
Interactive Brokers
low
Charles Schwab
average
Trading Assets
| Asset | Interactive Brokers | Charles Schwab |
|---|---|---|
Currencies | 87 | 65 |
Indices | 23 | 20 |
Stocks | 8139 | 6000 |
Cryptocurrencies | 11 | 1 |
Bonds | 87 | 60000 |
Metals | 4 | 5 |
Energies | 10 | 5 |
Soft Commodities | 15 | 12 |
ETFs | 532 | 2000 |
Currencies
Interactive Brokers
87
Charles Schwab
65
Indices
Interactive Brokers
23
Charles Schwab
20
Stocks
Interactive Brokers
8139
Charles Schwab
6000
Cryptocurrencies
Interactive Brokers
11
Charles Schwab
1
Bonds
Interactive Brokers
87
Charles Schwab
60000
Metals
Interactive Brokers
4
Charles Schwab
5
Energies
Interactive Brokers
10
Charles Schwab
5
Soft Commodities
Interactive Brokers
15
Charles Schwab
12
ETFs
Interactive Brokers
532
Charles Schwab
2000
Education and Analytics
| Feature | Interactive Brokers | Charles Schwab |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
Interactive Brokers
Charles Schwab
Indicators
Interactive Brokers
Charles Schwab
Robots
Interactive Brokers
Charles Schwab
Signals
Interactive Brokers
Charles Schwab
Autochartist
Interactive Brokers
Charles Schwab
Expert Analytics
Interactive Brokers
Charles Schwab
News Feed
Interactive Brokers
Charles Schwab
Education Articles
Interactive Brokers
Charles Schwab
Webinars
Interactive Brokers
Charles Schwab
Seminars
Interactive Brokers
Charles Schwab
Customer Support
| Contact | Interactive Brokers | Charles Schwab |
|---|---|---|
Email | help@interactivebrokers.com | AccessibilityHelp@Schwab.com |
Phone | +18774422757 | +18004359050 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter |
Email
Interactive Brokers
Charles Schwab
Phone
Interactive Brokers
Charles Schwab
Instagram
Interactive Brokers
Charles Schwab
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Which Broker is Better?
After comparing Interactive Brokers and Charles Schwab, Interactive Brokers comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
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Charles Schwab Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.