Charles Schwab vs. E*TRADE for Copy Trading

By The RelayTrades Team · Reviewed for accuracy · Updated September 10, 2026 · 4 min read

Educational information, not investment advice. See our editorial standards.

Quick answer

For copy trading these two are not equivalent, and the difference is not a matter of taste. E*TRADE is execution-enabled: copied orders route straight into your own E*TRADE account, sized to your limits. Charles Schwab can be connected and tracked, but copied orders cannot be placed in it. Schwab requires every application that trades over its API to hold its own approved Schwab application keys, and that approval has not been granted to RelayTrades yet. It is a commercial review Schwab controls, with no published timeline. So if you want hands-off copying, the answer is E*TRADE. If you hold Charles Schwab, you can still connect it to follow strategies and see everything in one place, then place trades yourself.

Part of the complete guide to copy trading.

Most broker comparisons come down to fees and apps. This one does not. For copy trading specifically, E*TRADE and Charles Schwab are not interchangeable: only E*TRADE can receive a copied order today.

The part that actually decides it

  • E*TRADE: execution-enabled. Copied orders route into your own account, covering stocks, ETFs, and options.
  • Charles Schwab: tracking only. You can connect it and follow strategies, but copied orders cannot be placed.

Schwab requires every application that trades over its API to hold its own approved Schwab application keys, and that approval has not been granted to RelayTrades yet. It is a commercial review Schwab controls, with no published timeline.

What is the same on both

  • Both connect securely through SnapTrade, so your broker login is never shared with RelayTrades.
  • Both keep your funds in your own account. RelayTrades never takes custody.
  • Both show your positions, balances, and performance in one place.
  • You can revoke either connection whenever you want.

Broker style, if execution is not the deciding factor

E*TRADE is a large, established full-service brokerage, now part of Morgan Stanley, with broad market access and research. Charles Schwab is the other giant of the category, and on almost every axis besides this one the two are close. That is what makes the answer easy here: if you want copying, pick the one that can do it.

If you want copies placed for you, choose E*TRADE. Charles Schwab connects for tracking, and this page will be updated the day copied orders can reach it.

Copy trading does not remove risk on either broker. The trader you copy can lose money and so can you, even with risk limits in place. RelayTrades is automation software, not affiliated with or endorsed by E*TRADE or Charles Schwab. Past performance is not indicative of future results.

Frequently asked questions

Related reading

Is Charles Schwab Good for Copy Trading?

Schwab is great for tracking but cannot place copied trades yet: Schwab requires every trading app to hold its own approved Schwab API keys.

Read more

Is E*TRADE Good for Copy Trading?

E*TRADE works well for copy trading: connect it through SnapTrade and copy stocks, ETFs, and options into your own E*TRADE account, with custody at an established broker.

Read more

Webull vs. Charles Schwab for Copy Trading

For copy trading the two are not equivalent: Webull can receive copied orders, Charles Schwab connects for tracking only.

Read more

Or read the complete guide to copy trading and browse the glossary.

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RelayTrades provides software and automation support, not investment advice or capital management. All trading involves risk; past performance is not indicative of future results.