Charles Schwab Reviews

Charles Schwab Reviews

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Overall Rating3.53.53.53.53.5

Charles Schwab is a full service online broker that lets users either trade on their own or let investment professionals manage their account for them. The company offers their customers access to stocks, options, ETFs, mutual funds, CDs, bonds, and annuities. Customers can also trade stocks in over 35 international countries within your account. Schwab was founded back in 1971 and has an enormous amount of research that they make available to their customers. Charles Schwab is an excellent broker to use for those looking for a simple way to invest in the market. The broker does have a section for active traders as well.

Charles Schwab Commissions

  • Stocks / ETFs: $8.95 per trade ($25 extra for broker-assisted trades)
  • Mutual Funds: $49.95 per trade ($0 for certain Mutual Fund OneSource Funds)
  • Options: $8.95 + $0.75 per contract ($25 extra for broker-assisted trades)
  • Bonds: $1 per bond ($10 minimum / $250 Maximum). $0 for treasuries (At auction AND secondary market)

Charles Schwab Features

  • Fast trade execution
  • Ability to purchase foreign stocks in over 35 different international markets
  • Tons of free educational material for investing and retirement
  • Full service broker with complete account management solutions.
  • Free ongoing professional advice and guidance
  • 300+ Brick and mortar store locations
  • Professional trading tools for active traders.
  • Mobile trading available on the broker’s mobile site
  • Some interest on cash balance through Schwab Bank
  • Open to international customers

Charles Schwab Promotions:

  • 250 Free Trades (Minimum deposit $1,000 required)

Charles Schwab Minimum Deposit to open an account: $1,000

 

User Reviews

  • John27 says:

    I’ve been using Schwab for over 5 years now and I’m very happy with them. I do have to say though that their website and trading tools do feel a bit out dated. I think Schwab is great place to park your money for retirement as they have the lowest fixed income (bonds, treasuries and CDs) commissions out of all the major brokers. When it comes to stocks and options though, Schwab is a bit pricier than the other brokers. For those that don’t know how to invest on their own, Schwab is basically a full service brokerage. This means they’ll invest and manage your account for you. I direct my own investments, but I like that I have the option to just let them handle my account for me if I wanted. I think it’s something a lot of older, less experienced investors will really appreciate. If you’re not an active trader and simply want to start trading, Schwab is the place to be. Plus they have some of the lowest fixed income commissions out there. I took off a few points for the Website / Platform because I’m not a fan of their trading tools. Other brokers like Zecco and ETrade both offer better tools.

  • OptionsTrader says:

    I’ve used Charles Schwab as my primary broker for about a year mostly because it’s the first broker I stumbled upon when I was looking for a good place to park my money and begin investing. I also began using Schwab when I first started investing and the sheer amount of educational material / research they provide their clients is superb. So I guess that makes Schwab an excellent broker for beginners, but once you learn the ropes you’ll want to move your money into another broker. Why? Mostly because of the high commissions and lack of features. Yeah, there’s a ton of retirement and college saving stuff on the site, but there aren’t any good trading tools. I have money set aside for stocks but i’ve been primarily trading options lately and the commissions with Schwab hurt. For options try OptionsHouse or TradeMonster instead. For retirement / basic stock trading Schwab gets the job done.

    Just my $0.02.

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