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Charles Schwab (thinkorswim)vs.Interactive Brokers

Head-to-head comparison across ratings, fees, asset coverage, and platform breadth.

Charles Schwab (thinkorswim) logo

Charles Schwab (thinkorswim)

4.5 / 5

Best for full-service investors who want thinkorswim, broad 24/5 trading, deep customer service, and integrated banking. Cost-competitive on most fronts but lags on margin rates and fractional-share breadth.

Last reviewed May 13, 2026Data may be outdated — verify rates before acting
Interactive Brokers logo

Interactive Brokers

4.6 / 5

Best for active, global, and advanced traders. Lowest margin rates in the industry, broadest international access (160+ exchanges, 36 countries), and the most complete API stack in retail brokerage.

Last reviewed May 13, 2026Data may be outdated — verify rates before acting

Sub-rating overlap

Each broker scored 0–5 across the same 8 dimensions.

Detailed comparison

Green cells mark the winner on each metric. Tie rows are uncoloured.

MetricCharlesInteractiveWinner
OverallEditorial score4.50 / 54.60 / 5Interactive
Sub-ratingsCommissions & fees4.204.80Interactive
Sub-ratingsPlatforms & tools5.005.00Tie
Sub-ratingsMobile app4.404.00Charles
Sub-ratingsResearch5.004.20Charles
Sub-ratingsEducation5.004.00Charles
Sub-ratingsCustomer service4.903.80Charles
Sub-ratingsRange of investments4.705.00Interactive
Sub-ratingsActive trading4.705.00Interactive
PricingLowest margin rate11.13%5.83%Interactive
PricingDefault cash sweep yield0.45%4.33%Interactive
PricingPFOF on equitiesAcceptsDoes not acceptInteractive

Where they differ on asset coverage

Asset classCharlesInteractive
Fractional sharesLimitedYes
Options (single & multi-leg)Yes
Crypto (direct)LimitedYes
International stocksLimitedYes
Options (US + global)Yes
Prediction marketsYes

Charles strengths

  • thinkorswim desktop included free — ~400 technical studies, thinkScript, paperMoney
  • 24/5 trading via EXTO on 1,100+ securities (S&P 500 + Nasdaq-100 + Dow 30 + 600+ ETFs)
  • 400+ U.S. branches with Saturday hours; 24/7 phone and chat support
  • Schwab Security Guarantee — 100% reimbursement for unauthorized account activity
  • TD Ameritrade integration completed; thinkorswim retained as the active-trader flagship
  • NerdWallet 2026 #1 IRA broker; Schwab Equity Ratings on 3,000 stocks

Interactive strengths

  • Lowest margin rates in retail brokerage — IBKR Pro USD blended 5.83–6.83%
  • Broadest international access — 160+ exchanges across 36 countries, 28 currencies
  • Trader Workstation (TWS) with ~120 order types, algos, Risk Navigator
  • Deepest short-locate inventory; SYEP shares 50% of borrow fees with clients
  • Full retail API: TWS, FIX, REST/WebSocket — 7 languages
  • Futures and futures options on 35+ global exchanges