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Interactive Brokers vs Schwab
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Interactive Brokers leads
- 1
- Schwab leads
- 1
- Level
- 11
Of 13 scored facts, Interactive Brokers leads on 1, Schwab on 1, and 11 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Interactive Brokers |  Schwab |
|---|---|---|
| Fee per contract | $0.65 per contract | $0.65 per contract |
| Interactive Brokers, $1 minimum; additional fees | Schwab, Additional fees may apply | |
| Exercise and assignment | Free | Free |
| Approval | Naked | Naked |
| Interactive Brokers, Up to naked short options | Schwab, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | Yes | Yes |
| Spreads in an IRA | Yes | Yes |
| Portfolio margin | Yes | Yes |
| Margin rate | 5.38%Best | 10.63% |
| Platforms | Web, Desktop, Mobile, API | Web, Desktop, Mobile, API |
| Paper trading | Yes | Yes |
| 24/7 support | No | YesBest |
| Countries | Over 200 countries and territories (IBKR group) | US residents; qualifying countries via Schwab One International |
| QuantWheel | Sync-only | Sync-only |
| Interactive Brokers, Reads the account; you place the orders | Schwab, Reads the account; you place the orders | |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Interactive Brokers$0.65 per contract · free exercise · naked
Interactive Brokers opens options accounts for residents of the United States, Mexico and Brazil, among the 9 countries this directory covers. It charges $0.65 per contract ($1 minimum; additional fees). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
Schwab$0.65 per contract · free exercise · naked
Schwab opens options accounts for residents of the United States, the United Kingdom, Germany, Australia, India, Mexico and Brazil, among the 9 countries this directory covers. It charges $0.65 per contract (Additional fees may apply). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Interactive Brokers$1.45 a trade, 1.4% of your premium
- $157 a year
- Schwab$0.91 a trade, 0.8% of your premium, fee not published
- $87 a year
Schwab is $69 a year lower on the fees it publishes, and it does not publish every fee this strategy needs
Not counted because Interactive Brokers does not publish them: options regulatory fee varies by exchange (not published as one amount). Not counted because Schwab does not publish them: options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Interactive Brokers vs Schwab