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Schwab vs. Tradovate – A Detailed Comparison

Discover our detailed comparison of Schwab and Tradovate to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for Schwab and Tradovate across the internet and compiled it all in this article. 

Overview of Schwab

Charles Schwab is a well-established brokerage firm known for its wide range of investment products and services. Schwab also provides a user-friendly online platform and mobile app, along with educational resources to help clients make informed investment decisions. Additionally, they offer banking services, retirement accounts, and access to financial advisors.

Overview of Tradovate

Tradovate is a futures trading brokerage platform with competitive pricing and trading tools. You can buy commission plans to reduce your commission rates and trade micro contracts for less than a few hundred dollars. It also has decent charting tools with advanced indicators like the volume profile, but I would still prefer TradingView’s charting.

Key Characteristics of Schwab and Tradovate

FeatureSchwabTradovate
Platform TypeBrokerage PlatformFutures Brokerage Platform
Tradeable AssetsStocks, ETFs, Mutual Funds, Options, Index Options, Futures, Futures Options, BondsFutures, Futures Options, Forex
Charting Featuresthinkorswim platformCharting platform with subscription fee including volume and market profile
DataReal-time data with funded accountReal-time data with funded account
Premium PricingNo premium features$99 per month or $1,499 lifetime for reduced commissions

Who is Schwab Best For?

Schwab is a great brokerage for long-term investors and active traders alike. With its recent acquisition of TD Ameritrade and the thinkorswim platform, Schwab is suitable for anybody looking to trade and invest in the stock market.

Who is Tradovate Best For?

Tradovate is best for those looking to trade futures with low commissions, especially if you trade enough to justify a monthly fee to lower your rates. However, Tradovate is primarily only for futures, so it is not for those looking to branch out into other assets like stocks and ETFs.

Trading Features and Tools

FeatureSchwabTradovate
DRIPYes, no feesNo equity
Margin TradingYesYes
InsuranceSIPC/FDIC InsuredNot insured
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeSchwabTradovate
Equity CommissionFreeNo equity
Option Commission$0.65 per contractNo equity options
Futures Commission$2.25 per contract$1.29 per contract, $0.35 micro
Futures Options Commission$2.25 per contractNot specified, likely the same as regular futures
Option Exercise FeeNoneNone

Schwab vs Tradovate – Bottom Line

Choosing between Schwab and Tradovate depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

  • All of TradingView’s key features are free to use
  • TradingView provides real-time data for free whenever possible
  • You are not tied to a single broker and can use whichever you want while charting on TradingView
  • You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
  • TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

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