Compare Alpaca Trading vs Charles Schwab


Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against Charles Schwab!

Alpaca Trading vs Charles Schwab
overall rating
4.6
4.8
overall pros
  • Great API trading service
  • Free stock & ETF trading
  • Fantastic charting tools
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
overall cons
  • Customer support limited to email
  • Limited deposit and withdrawal options
  • Only US stocks and ETFs available
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Poorly-structured educational platform
fees
4.9
  • Commission-Free Stock and ETF Trading
  • No inactivity fee
  • No withdrawal fee
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
account opening
4.8
  • Fast
  • Fully digital
  • No minimum deposit
  • Bit complex process for integrating third-party tools
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
deposit and withdrawal
1.8
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • High withdrawal fee for wire transfers
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
web trading platform
3.7
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • Poor search function
  • Limited customizability (for charts, workspace)
  • No price alerts
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
mobile trading platform
4.2
  • User-friendly
  • Two-step (safer) login
  • Order confirmation
  • Poor search function
  • No price alerts
  • No Touch/Face ID login
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
markets and products
2.0
  • Stock
  • ETF
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
research
5.0
  • Access to highly functional API
  • Great charting tools
  • Data on asset fundamentals
  • No trading ideas
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
customer service
1.9
  • Great Slack and community forums
  • No phone support
  • No live chat
  • Mediocre email support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
3.0
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Not well-structured
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Traders interested in algorithmic stock trading Investors and traders looking for solid research, low fees and great customer service
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