Wealthy PotCharles Schwab vs E*TRADE (2026)
Both are full-service brokers with strong platforms. Schwab brings thinkorswim, branches, and a huge fund and cash lineup; E*TRADE (now part of Morgan Stanley) counters with the excellent Power E*TRADE options platform. Choose Schwab for all-round investing and in-person access, E*TRADE if options trading is your focus.
By Wealthy Pot · Last updated September 2026
| Feature | Charles Schwab | E*TRADE |
|---|---|---|
| Type | Full-service | Full-service |
| Stock/ETF commission | $0 | $0 |
| Options per contract | $0.65/contract | $0.65/contract |
| Account minimum | $0 | $0 |
| Fractional shares | Yes | Yes |
| Platforms | Web, iOS, Android, Desktop | Web, iOS, Android, Desktop |
| Best for | IRA and long-term investors who also want a serious options platform (thinkorswim) | All-round investors and options traders who want the Power E*TRADE platform |
Where Charles Schwab wins
- thinkorswim is one of the best options/trading platforms anywhere
- Around 400 branches plus full banking
- Strong research and a broad product range
- Fractional shares in S&P 500 stocks
Where E*TRADE wins
- Power E*TRADE is a strong options platform
- Deep mutual-fund and bond lineup
- Solid research and screeners
- Backed by Morgan Stanley
Which should you choose?
Both are full-service brokers with strong platforms. Schwab brings thinkorswim, branches, and a huge fund and cash lineup; E*TRADE (now part of Morgan Stanley) counters with the excellent Power E*TRADE options platform. Choose Schwab for all-round investing and in-person access, E*TRADE if options trading is your focus.
Compare these against every option in our online brokers comparison.
We summarize hands-on assessment, not user reviews. Commissions, options fees, and account minimums change often and are re-checked against each broker's official page. Some outbound links may be affiliate links — that never affects our comparisons. Nothing here is investment advice.