What’s Better? Charles Schwab or tastyworks; A Comparative Study

When one is just beginning to be an investor, it is very important to choose the right brokerage account that is much more than just a trading platform for placing trades. A good trading platform can help the user build a strong investing organization, which inherently works as a teacher, advisor, and professional analyst for an investment. Every investor needs to know about the types of online trading that get support from the broker and have an idea about the platform’s tools for trading.
Here we are talking about two very well known trading and investment platforms, Charles Schwab and tastyworks. Here’s a brief differentiation between both these trading and investment platforms.

Charles Schwab

Charles Schwab is a well-known broker in the broker industry today. They are serving investors of all the levels. Charles Schwab is an established name since the year 1973, and currently, they have more than $3.18 trillion in client assets. Apart from offering services like futures and options, they have FDIC backed banking services and services related to the retirement account.

Charles Schwab


tastyworks is one of the well-known trading platforms based on the trading broker comparison that enables its users to make investments on their own and have complete control over their money. tastyworks believes that if the users have control over their money, they can earn better rewards. tastyworks provides its users with the best possible technology and best trading rates. tastyworks provides its customers with complete assistance to be successful on their own.

How is tastyworks different from Charles Schwabs

Both tastyworks and Charles Schwab aim to deliver the best services to their active traders. And if one wants to trade outside the regular market hours, then Charles Schwabs and tastyworks is something one should look for. But there are various factors that make both these platforms differ from each other. Let’s have a look:

Products of Investment

Both Charles Schwab and tastyworks offer exchange-traded service at a low expense ratio to every single customer that trades on the U.S. exchange platform. Both Charles Schwab and tastyworks offer ETFs for at 0 commission rates. There are option contracts available at both tastyworks and Charles Schwab. Unlike tastyworks, Charles Schwab offers multi-leg strategies on Schwab’s software. But tastyworks definitely has a platform that looks better. Since tastyworks is not a traditional trading platform, it does not offer services like bonds, mutual funds, or annuities. In Tastyworks you have a chance to win the referral rewards by referring your friends or family member on the platform.

Trading of Softwares

If you are into active trading, you will need the best software, and both tastyworks and Charles Schwab offer the best trading tools, but they still differ due to various factors. The tastyworks website doesn’t offer the trading capability. The tastyworks website is solely managed for advertising and management of the account. Know more about the different trading accounts of the Tastyoworks trading platform. Whereas Charles Schwab offers trading services on the website. Apart from that, the website has a trade bar with charting capability with different tools.
Charles Schwab Trading Software

Mobile Application

Charles Schwab comprises Bloomberg News at no cost. Apart from that, news articles are also one tap away. The application also offers app charting for trading purposes. For performing technical study on the app, the graphs can be rotated horizontally. The Charles Schwab app can trade options and mutual funds as well. The tastyworks app does not have the same level of charting, and there are no tools. tastyworks doesn’t have a mobile check feature as well.
Price Margin
Both Charles Schwab and tastyworks offer trading with borrowed funds. At Schwab, the margin requirement, in the beginning, is 50% of the total stock price. The maintenance further drops to 30%. Any stock price that is below the $3 rate cannot be traded on the margin. On the other hand, tastyworks has similar lending, but here the maintenance fee is less, i.e., 25%. For shorter positions, the initial margin stays the same, but the maintenance fee rises to 30% based on the differentiation of the brokers. The short stocks are priced at $5, whereas the long stocks are priced at $3 or more.
tastyworks Capped Commissions
The bottom line is that tastyworks is one of the best brokerage platforms with a team that aims to use quantitative analysis with implied volatility strategies as per the Tastyworks broker review. tastyworks is a user-friendly platform and provides the user with knowledge about trading. On the contrary, it has been performing remarkably well in certain sectors. But if we look into the matter in detail, the traders who wish to see what other traders are trading, then one should definitely choose tastyworks.