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Charles Schwab

Exceptional 9.75
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Charles Schwab Review

  • Competitive commissions and fees
  • Excellent trading platforms
  • Phenomenal customer support
  • Advanced trading
  • No forex trading
  • High minimum deposit ($1000)
  • High mutual fund commissions

Charles Schwab is internationally recognized as one of the world’s most renowned online trading brokerages. The brokerage was founded in 1973 and has since innovated and grown tremendously. Charles Schwab serves over 10.6 million active trader accounts, 1.6 million retirement plan accounts, and 1.2 million banking accounts. In total, Charles Schwab has $3.18 trillion in client assets, making it one of the largest trading brokerages in the world. The Charles Schwab broker is headquartered in San Francisco, California, United States and has over 300 branches in the United States as well as a main branch in Puerto Rico and London, England. As the Charles Schwab trading brokerage is based out of the United States, they are licensed and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). With the guidance of this regulation, Charles Schwab strives to provide their customers with premium investment services with a wide array of financial assets. While Charles Schwab is clearly a large, successful, and trusted trading brokerage, are they the right broker for you? Find out in the following review where we’ll look into all aspects of the Charles Schwab trading brokerages and see if their services and investable products meet your needs.

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Trading Platform

Charles Schwab features one standard trading platform known as “StreetSmart Edge”. This trading platform is available for download on Windows, Mac, and Linux operating systems, and it’s also available via web-browsers. The platform features a fully customizable dashboard interface which aligns with each individual traders style. The platform is very intuitive and allows for both complex and simple traders to make use of its tools and features. The StreetSmart Edge platform has numerous integrated tools designed to identify and act on opportunities. As well, the platform utilizes a risk management system that allows traders to more easily monitor and take action on certain positions. Both the web-based and downloadable trading platforms include real time data streaming, full customization of platform layouts, customizable tools, multiple monitor support, and more. All in all, the StreetSmart Edge trading platform is a platform that every trader can appreciate, although it does cater to more advanced traders.

Exchange Markets

The Charles Schwab trading brokerage features an extensive array of investment products with nearly everything but forex trading. For instance, traders can participate in the global markets across the following asset classes:

  • Stocks
  • Exchange Traded Funds (ETFs)
  • Options
  • CDs & Bonds
  • Fixed income securities
  • Mutual funds
  • Preferred stocks
  • Futures
  • IRAs
  • Variable annuities
  • Single-premium immediate annuities

Fees and Commission

The fees and commissions imposed on traders are quite favorable compared with other online trading brokerages of a similar caliper to Charles Schwab. For instance, stocks and ETFs are subject to a commission of only $4.95 per trade. As well, options are only $4.95 per trade plus $0.65 per contract. CDs and bonds are only $1.00 with a $10 minimum, annuities have a base fee of 0.65%, and futures are $1.50 per contract. Mutual funds can be traded at $76 per buy, $0.00 per sell. As for free tradable assets, Schwab ETFs, Schwab mutual funds, and treasuries can be traded for free. Traders who conduct broker assisted trades incur an additional fee of $5.00 per phone trade and $25 per broker assisted trade. All in all, the fees and commissions are very competitive with industry standards, especially since the Charles Schwab brokerage is so highly valued as a competent and reliable trading brokerage with excellent customer care.

Security and Fairness

At the Charles Schwab brokerage, they understand the importance of security and fairness for their customers. Therefore, the brokerage implements an intricate security program that utilizes various security tools to protect their customer accounts and personal information. Charles Schwab utilizes advanced encryption techniques as well as extended validation certificates to provide a more secure website and information transmission process. If for any reason a client experiences loss of funds from fraud, Schwab will cover 100% of the lost/stolen funds. This is to do with the brokerages compliance with the FDIC and SIPC investor compensation schemes. All in all, the Charles Schwab trading brokerage is very safe, secure and fair.

Support

Schwab has been recognized many times for their high level of customer service and have won numerous prominent awards. Customer support representatives can be reached via live chat, telephone, secure messaging, mail, fax, social media, and in person at over 300 branches. The support offered by representatives is very fast and responsive with helpful and thoughtful responses. Additional methods of support include an insights section on their website. Here, customers can view numerous educational resources such as workshops, podcasts, articles, webinars, and more. Customers also have access to licensed professional investment advisors as well as unlimited investment advice from Schwab Intelligent Robo Advisor.

Conclusion

The Charles Schwab trading brokerage is the number one trading brokerage in the United States and is recognized by countries all around the world as a competent and successful trading broker. Schwab services all types of traders whether they’re just starting out, active day traders, or retirees. The trading platform provided by Schwab is highly advanced and intuitive which accommodates the needs of every type of trader. The commissions and fees associated with the extensive array of investment products are quite competitive with industry standards, and traders have the ability to trade with professional advisors at an affordable rate. All in all, the Charles Schwab online trading brokerage is of premium quality and is a viable trading solution for many.

Charles Schwab Q&A

The following are the common questions that customers inquired about Charles Schwab.

Is Charles Schwab regulated?

Yes, it is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Is Charles Schwab a scam?

No, Charles Schwab is a legit broker and it’s licensed in the US.

Where is Charles Schwab based?

Charles Schwab is based in San Francisco, California, United States.

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Charles Schwab Reviews by Traders
Rate Broker and write a review
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RParker
208 reviews
Review date 02/08/2018
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Charles Schwab is one of the most trusted names in the financial community, however if you're looking for forex trading this is not the broker.
Charles Schwab is limited in some respects
Napoleon
161 reviews
Review date 02/08/2018
1 2 3 4 5 6 7 8 9 10
Charles Schwab boasts competitive commissions, and great customer support. They also have one of the best reputations in the business.
Charles Schwab has a high deposit minimum and also does not allow forex trading.
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