Public Vs. E*TRADE vs. Schwab
Main points:
• Brokerage accounts can be opened at Public, Schwab, and E*TRADE.
• E*TRADE and Schwab have robo accounts, Schwab also has traditional advisory services, and Public offers advisory-style products through Public Advisors.
• Public offers direct crypto trading and newer niche products such as Generated Assets, while Schwab and E*TRADE have broader traditional investment lineups.
Do you want to open an investment account? If so, you should check out Charles Schwab, Public.com, and E*TRADE. These three financial firms have a lot of resources that may interest you.
Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
$0.65 per contract
|
$0
|
$0
|
|
E*TRADE
|
$0
|
$0
|
$0.65 per contract
|
$0
|
$0
|
|
Public
|
$0
|
na
|
$0 per contract
|
$0
|
$0
|
Services
Investing and Trading
Self-directed brokerage accounts can be opened at all three firms in this comparison. Although there are no ongoing account fees at any of the three, Public does charge for a Premium subscription, which is required to access several advanced features. Customers with at least $50k in assets get the membership for free.
All three broker-dealers deliver trading in stocks, options, ETFs, and bonds. Public also offers direct crypto trading, Treasuries, direct indexing, Generated Assets, and access to some alternative assets. Schwab drops direct crypto trading, but adds mutual funds, annuities, forex, and futures contracts. E*TRADE also offers mutual funds and futures contracts, but not direct cryptocurrency trading.
E*TRADE and Schwab offer automated investing through robo accounts. Schwab goes one step further with full-service advisory accounts. Public also offers advisory services through Public Advisors, although it does not offer a classic robo account. Although Public does offer investments in curated themes, direct indexing, and Generated Assets, these are not the same thing as a traditional robo-advisor account.
Winner: Schwab
Margin
Self-directed accounts at all three brokerage houses can use margin to buy securities with borrowed money. Of course,
there is a cost for this useful service. Public’s tiered schedule starts at 4.9% and uses lower rates for larger margin balances.
E*TRADE’s and Schwab’s margin rates also use tiered schedules, with rates that vary by debit balance. A cash account can upgrade to margin trading on any one of the three websites.
Winner: Public
Websites
We kick off the software competition with websites. All three have useful tools such as graphs, trade details, an order ticket, and funds transfer. Public requires a Premium membership to use advanced charts. The Public.com order ticket has market, limit, and stop orders. Schwab and E*TRADE go quite a bit further with more advanced orders; E*TRADE has trailing orders, and Schwab has contingent orders.
For an even higher level of trading, Schwab and E*TRADE have browser-based platforms. These advanced programs have some very good digital tools that active traders will want to use. E*TRADE’s platform has a strategy builder, while Schwab’s software delivers Level II quotes.
Winner: Tie between Schwab and E*TRADE
Mobile Apps
Public offers one mobile app. During our test drive of the platform, we found it fairly easy to use. An AI named Alpha sits in the upper-right corner. Stock profiles have many data points, although some of them are only available to Premium customers.
Schwab and E*TRADE offer two apps each. They both have basic apps, which actually aren’t so basic because they have lots of strong tools. Examples include charts and order tickets for mutual funds.
Also available at each firm is an advanced trading app. E*TRADE calls its app Power E*TRADE, while Schwab uses the thinkorswim name. Whatever you want to call them, they both deliver advanced charting and order entry. Futures can be traded on Power E*TRADE, and Schwab customers can trade forex and futures on the thinkorswim app.
Winner: Schwab
Desktop Programs
Public does not have a desktop program, but Schwab and E*TRADE do. E*TRADE now calls its desktop software Power E*TRADE Pro, and yes, it definitely does live up to its name. The software delivers some great tools that advanced traders will really appreciate. Examples include profit-loss diagrams, integrated option spreads, quick trade buttons, and more.
Schwab comes through with thinkorswim in desktop mode. This very sophisticated piece of software has direct-access routing, stock and options screeners, an economic calendar, and full-screen charting. CNBC and Schwab Network stream free of charge on thinkorswim. Both thinkorswim and Power E*TRADE offer simulated trading.
Winner: Schwab
Additional Features
Dividend Reinvestment Plans: Available at all three broker-dealers.
IPO Service: E*TRADE, Schwab, and Public traders may be able to buy shares of IPOs before they hit the secondary market when eligible offerings are available.
Fractional Shares: Public offers fractional investing in stocks and ETFs, and crypto can be traded in dollar amounts. Schwab provides fractional-share trading for stocks and ETFs trading in the U.S. exchanges. E*TRADE offers ETF fractional shares through Automatic Investing, and fractional shares may also result from dividend reinvesting.
Individual Retirement Accounts: Retirement accounts can be opened at all three firms. At Public, Traditional, Roth, and Crypto IRA options are available. At Schwab and E*TRADE, there are many more IRA types.
Extended Hours: Pre-market and after-hours trading is available at all three brokerage firms. Schwab offers 24/5 trading in more than 1,300 stocks and ETFs, while E*TRADE has overnight trading in certain ETFs. Public offers 24/7 crypto trading, and its extended-hours stock and ETF trading is available in pre-market and after-hours sessions.
Auto Mutual Fund Investing: E*TRADE and Schwab have it.
Fully-paid Securities Lending Program: E*TRADE, Schwab, and Public offer their customers the ability to earn extra income by loaning out stock shares.
Winner: Slight advantage to Schwab
Recommendations
Small Accounts: Schwab for brokerage accounts. E*TRADE for robo accounts.
Mutual Funds: E*TRADE or Schwab.
Retirement Saving & Long-Term Investing: Schwab, largely due to its broader lineup of human financial planners, branch locations, retirement accounts, and long-term planning resources.
Beginners: A managed account at E*TRADE or Schwab.
Frequent Stock Trading: Schwab or E*TRADE.
Open Account
Charles Schwab:
$0 commissions + ACAT fee rebates + a satisfaction guarantee with Charles Schwab.
E*TRADE:
Currently, no promotions.
Public: Earn $0.06–$0.18 options trading rebate per stock or ETF contract at Public.
Which Broker is Right for You?
Schwab is the overall winner of this survey, although Public and E*TRADE have strong points in multiple areas.
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Updated on 9/4/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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