Stock Broker Reviews



optionsXpress
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Compare OptionsXpress vs Charles Schwab

OptionsXpress vs Charles Schwab Commissions and Investments Offered



OptionsXpress
Charles Schwab
  • Stocks and ETFs: $9.95 if under 1001 shares; $0.01 per share if over 1000 shares
  • Options (0-34 trades/quarter): $14.95 (for one contract), $14.95 (for five contracts), $15 (for 10 contracts), $30 (for 20 contracts)
  • Options (35+ trades/quarter): $12.95 (for one contract), $12.95 (for five contracts), $12.95 (for 10 contracts), $20 (for 20 contracts)
  • Mutual Funds: $14.95
  • Investments: stocks, options, mutual funds, bonds, futures, ETFs
  • Minimum to open account: $0 for cash account, $2000 for margin account
  • All OptionXpress fees and margin rates
  • Stocks and ETFs: $8.95
  • Options: $8.95 plus $0.75 per contract
  • Mutual funds: $49.95. Mutual Fund OneSource® Funds - free
  • Investment products: stocks, bonds, mutual funds, futures, treasury issues, options, CDs, insurance, ETFs, annuities, non-U.S. securities and ADRs, WEBs and Canadian foreign orders
  • Minimum to open account: $1,000
  • All Charles Schwab fees and margin rates



Compare OptionsXpress and Charles Schwab Pros



OptionsXpress
Charles Schwab
  • Best customer service
  • Many well-designed trading tools
  • No hidden fees
  • No fee IRA accounts
  • Great research
  • Free real-time and streaming quotes
  • Free virtual trading
  • $0 to open cash account
  • Free account transfers
  • Free instructor lead online classes
  • Free broker-assisted trading
  • Traditional banking features: credit cards and checking accounts
  • Around 300 offices for personal visits and deposits and 24/7 support
  • No account service fees
  • Rich selection of investing products
  • Minimum balance requirement: $1,000
  • Excellent customer service



Compare OptionsXpress and Charles Schwab Cons



OptionsXpress
Charles Schwab
  • High trading costs for stocks and options
  • High commissions on stocks, options, mutual funds and ETFs
  • Average trading tools
  • Outdated and difficult to navigate website



OptionsXpress or Charles Schwab Comparison Summary



OptionsXpress and Charles Schwab are very similarly priced for stocks and ETFs: $8.95 and $9.95 (you have to make over 8 trades per quarter to get this rate with OptionsXpress). Charles Schwab, however, charges much more for mutual funds: $49.99 against $14.95 at OptionsXpress.

OptionsXpress and Charles Schwab have similar levels of customer service, trading tools and research. OptionsXpress also provides virtual trading and customers could open account and give it a try with just $0.

Both companies have no account maintenance fees, no IRA setup and annual fees, and no surcharges for penny stocks (stocks under $1). We rated OptionsXpress as one of the Best IRA Stock Brokers.

Out of these two brokerage companies, OptionsXpress is clearly a better choice.


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