Charles Schwab – a world famous trading platform

Min. deposit
1000$
Min. trade price
50$
Website address
schwab.com
Profitability
87%*
Demo account
Yes
Currency
USD
Supported languages
Eng
Active
Yes
* The amount that will be credited to the account in the case of a successful deal

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 2,
according to 103 reviews

4.5 Stars
Deana
Deana
stars
fr
I have only used Charles Schwab for banking, not for trading/investment, so my perspective is limited. I opened an account nearly ten years ago because their checking accounts don't charge foreign ATM fees and I was doing a lot of international travel. Aside from the benefits of these waived fees, what I am most impressed about is the great customer service I always receive. I have sporadically had to call their customer service number for issues managing my account and they are the best! Always available, always polite, always helpful. I normally aviod having to call any company's customer service hotline but I genuinely don't mind calling in to Schwab because I know their agents are so friendly and that they will resolve my issue efficiently. They have the gold standard for customer service representatives.

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Scott Wodehouse
Scott Wodehouse
stars
us
Of the big banks, this is the best one I've used. Love the refunds on ATM fees

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Nicole K
Nicole K
stars
us
I have had only great interactions with this company. I've been with CS for almost a year now. Wonderful international travel perks(great exchange rates, returns on expensive withdrawal fees), helpful with investments, and easy online banking. Super responsive if I've tried to contact them about anything as well.

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Sun
Sun
stars
us
Mostly banking experience. Schwab bank out-do every other brick and mortar bank in terms of problem-free banking and online experiences. It can't beat local branch who provides local services, but the benefit is simply unmatched. ATM fee reimbursement feature is next to non.

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Bob Hummell
Bob Hummell
stars
us
Pros: no commission trades online, lots of investment choices, website easy to navigate. Cons: so so research info, sometimes inaccurate stock prices.

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Raj Taj
Raj Taj
stars
us
One of the best brokers I have ever worked with. For beginners and advance

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Joseph Zao RiverofTime
Joseph Zao RiverofTime
stars
us
Since 1981 I have been with Schwab. For a few years, I was away. My first dealings were 3 Shares of AT&T. That added much to my enthusiasm. Just like a person talking to Elon Musk and speaking; “I am a graduate student. I have 1 share” His talk was the future and today I am sure it is developed. I am sure about some things. Schwab is something I am personally proud of as an adult, not the same kind of money at 28 but at 68 something similar in the scope of “form and substance”

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Bob Hummell
Bob Hummell
stars
us
4 stars because trades are free if trade online. Trades via phone is not free. Pros: easy to log in and see balances, make trades. Cons: weak research data and stock prices not always accurate. Overall, B grade.

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Caroline Moore
Caroline Moore
stars
us
Class. True class. Talked with about 5 customer service reps and they all helped me with such grace and kindness. Especially Trenton, Kelly, and Mrs.Holten

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jarratt a
jarratt a
stars
us
Been a customer for 40+ years. Love it! YIKES, I THOUGHT MY INITIAL REVIEW NEVER GOT POSTED -- I got a message asking me if I wanted to finish editing it when I wrote another review. SORRY for the overkill. I've probably had hundreds of interactions with this company's personnel though I conduct most transactions myself by logging in to my account at its very robust www-site. I regularly do in-depth securities research, create watch-lists, modify security alerts and regularly transfer money in and out. I've never had a problem with executions or anything else. When I have had to speak to someone, I've found them universally knowledgeable and polite. I don't think I've ever been on hold for a minute. I was appalled by the negative reviews on this site. They run completely counter to my experience. This is a recap of my most recent interaction which took place last Sunday afternoon. I called to find out if I could trade a recently listed stock on the London exchange -- one that has not been reviewed by the SEC. They told me that had not yet reviewed the company, but would do so as a result of my call. They said it would probably take a couple of days to complete the due diligence. They also advised me about the protocols and fees involved in trading overseas securities that are not listed in the US. I received an email very early on Tuesday informing me that they had completed their review and were now able to trade that security. The email gave me a toll-free # to their Global Markets desk. I called one hour before the London exchange closed and was able to execute a trade within 15 minutes. What's not to like. I wanted to give Trustpilot review readers an overview of the company. I got carried away. I sound like an insider or, at least, a shareholder. I am neither -- my only relationship has been as a customer. But here's a bit of what I learned. • Schwab is a global company with over seven trillion dollars in client assets. • It has 32 million brokerage accounts and over 1.5 million bank accounts. • It executes over eight million trades on an average day and has 32 thousand employees. • In the past year Schwab has received: the 2021 Best Online Brokers Recognition from Investors Business Daily; the 2021 Best in Class Overall Recognition from Stockbrokers.com; the 2021 Highest in Customer Satisfaction with Direct Retail Banking from J.D. Power as well as making Fortune's listing for both Most Admired Companies and 2021 America’s Best Large Employers Recognition. There are many more. Schwab's mantra is "putting customers first". That's been my consistent experience.

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jarratt a
jarratt a
stars
us
I have been a Schwab customer for 40 years and have never had a bad experience with a huge number of transactions and customer service interactions. I'm very picky. Crisp fulfillment & execution. Very good rates. Low costs. Amazing helpful www-site with access to multiple layers of information. A very rich investment environment that can serve small and novice investors as well as those with expertise. I've read recent reviews about execrable service. All I can say is that I initiated a customer service call an hour ago (late on Sunday) entered my credentials on my phone (including voice verification) and was immediately connected to an agent. I was inquiring about a recently listed security on the London exchange -- one that has not received SEC clearance here. I asked that the foreign markets desk call me when they were free. That happened 5 min later. I found out that Schwab had not already reviewed this security but would in the next two days as a result of my request. I was advised about transaction costs for this type of security. I expect a call/email in a few days telling me whether they will be able to execute a trade on my behalf. If they can, I will direct dial their Foreign Markets desk (no hold times on prior interactions) and place the trade. I will expect confirmation with 2 hrs and execution in two days. Another crisp interaction! What's not to like.

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Chris Allen
Chris Allen
stars
ca
I have been very happy with the services I have received during my years (3 or 4 years) with this company. Their banking platform is far better than any banking institution available to me when I used to live in Canada. Though, it should be noted, their trading platform is rather clunky and dated, if that's a service you require than I'd rate this 3/5 stars, but as I am not an active trader myself it is a non-issue. On the occasions when I have needed to contact support, it is usually a response within a very reasonable amount of time. Overall I'm very happy with the service received and i have recommended them to friends who haven't voiced any complaints to me themselves.

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James “Jamie” Duncan
James “Jamie” Duncan
stars
us
Great company to invest with, and there's always someone to to discuss your investments with, highly recommended.

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Barry W
Barry W
stars
us
I previously had a TD account, and heard that Charles Schwab was going to take them over, so opened up the Schwab account. Couldn't be happier with their brokerage services. Now just hoping they move over TD's Think or Swim app.

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Lawrence Michael Light
Lawrence Michael Light
stars
us
Charles Schwab has always been polite, immediately available, responsive as a company whenever I needed answers. They also provide clear statements and access to information about stocks in their display of my investment (IRAs and Joint Accounts) pages. I trust them impliciitly to be objective about answers. They are easy and safe to use as a vehicle to hold your investments. I have been with them over ten years so I speak with authority about my experience with them.

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Anna
Anna
stars
us
I love Charles Schwab. They are always polite and helpful! No hidden fees and great for travelers! I recommend them to all my friends and family.

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Krivossidis
Krivossidis
stars
us
My go to for investing, their customer service at the century city location is phenomenal. Phone service is great too, never a hassle.

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Mark C
Mark C
stars
us
Best ATM card for withdrawing cash at international ATMs. I've tried debit cards from many other banks, sometimes I'll do two transactions as a test: one with my Schwab card, one with another bank,just to see which is better. Charles Schwab always gives the best currency conversion rate. I've tested it against my three other debit cars: BoA, SunTrust, KeyBank. I've tested in multiple countries. My SunTrust card is a special "World Debit Card" and with supposedly zero international fees but the actual currency conversion is never as good as my Schwab debit card. The SunTrust "World Debit Card" which claims to have no international transaction fees is usually 2% worse than the Schwab card. BoA and KeyBank are upfront about their fees and are 3% worse.

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Kari Davis
Kari Davis
stars
us
10+ years with them LOVE. never had a single issue. Always treated so well!

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Alex Haler
Alex Haler
stars
us
As a 10 year+ client and a former employee from 2011-2013, I couldn’t be more happy with Charles schwab. They refund atm fees worldwide - even the big ones! This alone has saved me hundreds over the years. Free trades, free ETFs and great free research - you can’t ask for a better brokerage solution. Oh an as a bonus, they treat their employees so well! It was a true pleasure working for them.

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Overview of legendary world-known brokerage companies: Charles Schwab

Studying modern financial companies, it is impossible to say that each of them develops at a certain rate. Especially when it comes to large corporations with a long history. Some of them started their activities 30-50 years ago, as usual financial and credit institutions, and today they specialize in online trading. Others relied on the insurance business, and at the beginning of the 21st century they became famous bankers, etc. It all depends on the demand for financial services, the level of capitalization of companies and the people who run the company. For example, Charles Schwab, known today to any financier, is a stock exchange and brokerage company (San Francisco, USA) is one of the most powerful trading platforms on the net, among all online trading services. It is even hard to believe that the teachers of the creator of this gigantic corporation will call him hardworking, persistent and very attentive, but very real slowdown. Later it turned out that Charles Schwab suffered from a rare disease — he practically did not remember the printed text. The young man himself considered himself quite normal and thought that all the shortcomings could be overcome by persistent labor.

But back to the main topic of the review. Many readers are interested in the question: for whom is the trading program presented? For serious traders who are able to invest in promising financial projects hundreds of thousands of dollars or its services are quite “affordable” for an ordinary citizen? What you need to do to make a brokerage firm? And what nuances will help the trader to significantly increase the profitability of their rates? There are many questions, but they all intersect with each other, so for the “acquaintance” with the Charles Schwab corporation, it is enough to study the information presented in this review.

 

Charles Schwab – trading platform and investment service overview

 

How does the brokerage firm Charles Schwab work and attract clients?

The presented brokerage firm was established in 1971, and in 2016 its capital exceeded 2.5 trillion. $. Today it works in the following areas:

● capital management;

● banking;

● trade;

● and investments.

The corporation was repeatedly sold, resold, took part in transactions that could end very badly for its creator. But, both Charles Schwab and his project seemed to protect each other from various troubles. It should be a well-known businessman to sell the company, the trouble begins, but as soon as Charles returns to the corporation, the value of its shares rise in price by 5-10 times! Charles Schwab is one of the few corporations that, almost painlessly, survived the financial crisis of 2007–2008. The owner had a brutal instinct in financial matters and, literally before the crisis, he sold almost all real estate securities.

Charles Schwab Security

Even these factors are quite enough to make sure that the brokerage firm cares about the interests of its clients. With a capital of billions of US dollars, the administration of the resource monitors the comfort and lack of problems of the traders Charles Schwab.

The security of a corporation for its users, besides the factors already mentioned, is indicated by:

  • Created by the best US specialists for Charles Schwab applications, platforms (including StreetSmart Edge) and other software that allow traders to work from stationary technology or mobile devices. The main condition is the availability of the Internet and relevant gadgets.
  • This broker is among the three largest American companies supporting online trading.
  • Before opening an account, a potential client will be verified against the most “advanced” US bases. And if residents of the United States treat this with understanding, many Europeans (especially residents of the post-Soviet republics) do not like this procedure very much. Although its main goal – to protect users from intruders.
  • A very important factor is accurate adherence to the time of asset quotes. If many companies from other countries always try to play on this, then the Americans are very principled in this matter.
  • In the support service (it works around the clock 5 days a week) you will find only highly qualified specialists who will help solve almost any issues related to Charles Schwab.

Having studied all the above information, probably, any European will not be afraid to register a login on Charles Schwab. But Americans are special traders. They will check who controls the work of the broker.

Charles Schwab Corporate Regulator

The presented broker is regulated by the Corporation for the Protection of the Rights of Investors in Securities (SIPC) and the Federal Deposit Insurance Corporation. Like all institutions entrusted with the functions of control, they perfectly fulfill their obligations.

Training on Charles Schwab

For beginners on the website of Charles Schwab there is a training center that gives you the opportunity to get all the necessary information to earn a steady income. If you have the necessary theoretical base and at least initial experience in this field of activity, you can use graphs, forecasts, analytical information or news to make profitable deals based on them.

But the best tool is placed on the Charles Schwab trading platform demo account. With his help, you can enter into real transactions without risking your own financial resources.

Terms of use on the Charles Schwab website

In addition to the above training account, resource users can open:

● Individual.

● Joint accounts.

Studying the services offered by this broker, sometimes it seems that the trader will find practically any financial services on this platform (pensions, mortgages, etc.). But do not rashly use these offers. For each of them it is necessary to read all the papers and agreements, to consult with a lawyer, to explore other, alternative options, and only then make a final decision.

Trading Terms of Charles Schwab broker

● The minimum deposit amount is $ 1000.

● Rate – $ 50.

● Account currencies – US dollar.

● Trust management – yes.

● Affiliate program – no.

● Commission – there is.

If you read the reviews of Americans compiled about Charles Schwab, they are completely satisfied with such rules, but many Europeans are alarmed by the relatively high transaction rates.

Deposit / withdrawal of funds Charles Schwab

In this case, traders can use bank transfers, debit and credit cards, as well as some electronic accounts. This situation does not suit many users who have made reviews on this question about Charles Schwab, considering that these restrictions are not grounded.

Assets available at Charles Schwab trading platform

As a means to work on this platform, you can use: trading binary options, CFD, stocks and precious metals.

General Risk Warning: Your capital might be at risk