tastytrade vs. Schwab
Highlights:
- tastytrade and Charles Schwab offer self-directed trading in futures and securities.
- Schwab, but not tastytrade, has investment advice and financial planning.
- Both firms have advanced software for high-level trading.
If you’re shopping for a new investment account, take a look at tastytrade and Charles Schwab. Although they have some similarities, there are important differences.
Comparison Table
|
|
|
| Rating |
|
|
| Stocks |
$0 |
$0 |
| Options (per contract) |
$0.50 |
$0.65 |
| Mutual Funds |
n/a |
up to $75 |
| Initial Funding Requirement |
$0 |
$0 |
| Inactivity Fee |
$0 |
$0 |
| IRA Annual Fee |
$0 |
$0 |
| Full Account Transfer |
$75 |
$50 |
| Partial Account Transfer |
$75 |
$25 |
| Account Closing Fee |
$0 |
$0 |
| Trading Experience & Technology |
|
|
| Mobile |
|
|
| Research Amenities |
|
|
| Portfolio & Analysis Reports |
|
|
| Customer Service and Education |
|
|
Trading Services
In self-directed accounts, tastytrade customers can trade:
- Futures
- U.S.-listed stocks
- ETFs
- Closed-end funds
- Options (equity, futures, and index)
- Cryptocurrencies
Schwab does not offer cryptocurrencies, but it adds mutual funds, OTC stocks, foreign stocks, bonds, and forex.
Schwab also offers portfolio management, with both robo and human advisors. With either choice, clients can get a financial plan from a human advisor. In traditional advisory accounts, alternative assets are available.
Winner: Schwab
Promotions
Charles Schwab: Satisfaction guarantee, ACAT reimbursement, and $0-fee trades at Charles Schwab.
Tastytrade:
Get $100 for signing up at Trastytrade with this referral link.
Computer Tech
Schwab’s website includes a trade ticket with eleven trade types. The thinkorswim web platform adds more, such as blast all and 1st triggers sequential.
Charts on both the website and thinkorswim have drawing tools and technical studies. Trade buttons appear above charts, but there is no right-click menu.
tastytrade’s website has three tabs: Dashboard, Trading, and Manage. The Trading tab contains charts with many features. The order ticket has four trade types, which is a limitation, though it does have bracket orders.
The Follow Feed section shows recent trades by tasty insiders.
tastytrade’s desktop platform is similar to its browser version. thinkorswim desktop is more advanced with right-click trading and a demo mode.
Winner: Schwab
Mobile Apps
thinkorswim’s mobile app has advanced charting with hundreds of technical indicators and a professional order ticket. It also includes a built-in simulator.
Schwab’s regular mobile app offers features like bill pay, Zelle transfers, and mutual fund trading.
tastytrade’s mobile app includes option chains for spreads and a graphical interface for adjusting orders. Charts can rotate horizontally, but lack tools.
Winner: Schwab
Trading on Margin
Both firms offer cash and margin accounts. At Schwab, a cash account can upgrade to margin through the website or mobile app. tastytrade requires opening a separate margin account.
Both allow shorting stocks, buying on leverage, and trading option spreads. On Schwab’s platforms, the maintenance margin requirement for individual equities is shown, which tastytrade does not display.
Schwab’s margin rates range from 11.825% to 10.075%, depending on the amount borrowed. tastytrade’s rates range from 10.25% to 7.25%.
Winner: Open to dispute
Complementary Features
DRIP Service: Available at both brokers.
Fractional Shares: Available at both; tastytrade also offers this for ETFs.
Periodic Mutual Fund Investing: Available at Schwab.
IRA Lineups: Offered by both; tastytrade has an IRA termination fee.
Fully-paid Securities Lending Program: Available at both.
Extended-Hours Trading: Available at both; Schwab also offers overnight trading in certain securities. Futures, forex, and cryptocurrencies trade 24/7.
Initial Public Offerings: Available only at Schwab.
Winner: Schwab
Recommendations
Mutual Funds: Schwab is the only option.
Beginning Investors: Consider a robo or traditional advisory account at Schwab.
Retirement Planning & Long-Term Investing: Schwab offers annuities, lifecycle mutual funds, branch locations, estate planning, IRA calculators, and more.
Small Investors: tastytrade is good for taxable accounts due to fractional-share ETF trading; Schwab is better for brokerage IRAs. Managed accounts at Schwab have a $5,000+ minimum.
Active Stock Trading: Schwab is preferred for foreign and OTC equities.
Promotions
Charles Schwab: Satisfaction guarantee, ACAT reimbursement, and $0-fee trades at Charles Schwab.
Tastytrade:
Get $100 for signing up at Trastytrade with this referral link.
Assessment
For cryptocurrencies and futures, tastytrade is stronger. For most other categories, Schwab is the clear winner.
Open Charles Schwab Account
Open Schwab Account
Open Tastytrade Account
Open Tastytrade Account
Updated on 1/27/2026.
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