Charles Schwab

866-855-9102, 800-435-4000, 888-245-6864
San Francisco, California, U.S.

Charles Schwab was founded in 1971 by its namesake chairman, Charles R. Schwab. The full-service investment firm is headquartered in San Francisco, California. Schwab manages $2.61 trillion in investments for more than 9 million clients. It has 300 locations in the United States where you can meet with an advisor face to face, or you can easily reach your designated consultant by phone or email.


  • First-rate customer service — 24/7 customer service, 365 days per year, including answers to just about any question you have.
  • No-fee professional portfolio management — Schwab Intelligent Portfolios gives you professional investment management free of charge on accounts as small as $5,000.
  • Low account minimum deposit — The $1,000 minimum requirement is new-investor friendly.
  • No account fees — There are no account fees and no inactivity fees.
  • Investing and banking with the same company — Charles Schwab Bank enables you to move money seamlessly between your investment and bank accounts and gives you fee-free ATM access at thousands of ATMs across the country and worldwide.
  • The Charles Schwab promotion bonus — You can get up to $500 by opening a regular account or an IRA.


  • Commissions are on the high end of the major brokers’ scale — $8.95 per trade could be a negative if you are an active trader. There are brokers with much lower fees.
Founded in: 1971
Platforms: StreetSmart Edge®, Trade Source®, Schwab Mobile
Broker: 8.95
Minimum Deposit: 1000

Mobile Trading Daily Analytics Seminars, Education Manager Support

User Reviews


For traders, Schwab is truly your father’s Oldsmobile. The platforms are functionally bare minimum. The most annoying thing is that Schwab has tons of institutional rules that govern the order very closely. Not SEC rules, but Schwab rules. You also get a LOT of hardcopy stuff in the mail – that you can’t opt out of. Not advertising, but stuff that’s also in digital files. Unending redundancies.
The process of placing/changing a trade is multiple clicks. Confirmations come on a slow, funky little window – and no audio signal. You just have to look for confirmations. Schwab prides itself on service. But what passes for service is ritual verbiage – lots of words, little content and NO knowledge. You will be passed along to 2,3,4 people for an answer to a simple question. Everyone you talk to is much more interested in Schwab rules than your trading issue. Bottom line is that Schwab treats trading like it’s kind of a bad thing. They just don’t really approve of taking profits and few clues about how to equip the process. This is pure financial institution ethos with a name for retirement management. If you want to invest in Mutual Funds and maybe buy a few DOW stocks to just “put away”, go for it. If you want to trade equities, go somewhere else. I’ve ben there for 6 weeks and am all set to move to brokerage that operates in the 21st century. The 20th is another whole historic thing. And if you have a Mac, totally forget it. They’ll tell you they’re Mac-equipped but what they have is a lot of rusty PC platforms that can operate (most of the time) to the edges of Citrix.


For about a year, Schwab’s Institutional customer service has continually gone down hill. Our firm used to open accounts at Schwab as our first choice because of their service, now it is at the bottom. You have to babysit everything you submit or it goes in a black hole, never to be found.


I am a Schwab customer and have been for years. One of the benefits of being a brokerage customer is access to their banking products too.

Not only that, but they used to have a 2% cash back credit card.

Also Schwab offers models that help investors track their asset allocation and provide up-to-date performance on accounts as well as the model benchmark:
Nice presentation on the benefits of using Schwab.


I’ve been a Schwab customer for 6 months and I love it. My favorite part of being a Schwab customer is the Schwab One mutual funds and etfs that are free to trade. Huge savings when investing for the long term (also low expense ratios on some of their accounts).

My only recommendation for improvement would be to allow for automatic dividend reinvestment with foreign stocks. Stocks such as ADRs are not eligible for dividend reinvestment.


I have been a Schwab customer for about 20 years and am now considering leaving them. They have presumed that they have the power of determining suitability of my investment choices. That is a proper role for an investment adviser, but not for a broker. I have not appointed them as an adviser. This is presently unresolved.


Schwab is known for paying dividends late. It has gotten so bad recently that actually tried to steal several dividends in different accounts and time. I also had an accounting issue, even though It was a small amount that Schwab tried to cheat. I had to threaten Schwab to get it corrected. Finally, today 9/12/2016, Schwab suspended one of my fund in Roth Account, stating that this fund is in the process of changing name, but there was neither article nor news about it. Most of all, it was still trading under the same ticker symbol. At the market closing, change in fund price has not been reflected in my account. They told me that it will be corrected tomorrow. When I caught Schwab red handed, they came up with another deceitful practice right away. I was busy making copies of every detail that Schwab couldn't get away with tricks so far, but suspending my fund is not something that I can forget.

It is time for us to look for another brokerage. Have a control of your money as much as you can, don't leave it to Schwab and make copies of everything, even have to record a phone conversation too. Call your local congressman office before hiring a lawyer. Maybe, we all should get together pushing for congressional hearing on this online brokerage issue. Good luck to you all. I feel your pain including mine.


"I talked to one of your agent for one hour.. Freaking awesome!