Charles Schwab

Current Promotions

No promotions.

Equity Commission Rate

$0 for online equity trades. An additional $5 for interactive voice response and $25 if broker assisted. Schwab charges significant fees for trades in mutual funds (except Schwab's own funds that may carry significant management fees), including online ETFs.  This is where they get most of their customers into their own products or charge them huge commissions.  

Option Rate

Standard trade commission rate plus $0.65/contract. Standard trade commission rate applies to execution and assignment.

Margin Interest Rate

8.325% for balances under $25,000.   Graduates slightly lower for larger balances.

Interest on Uninvested Cash

Balances can be swept to a money market fund earning only 0.28%.

Customer Reviews for Charles Schwab

Rated 2.00 stars out of 5 - based on 6 reviews with ratings

Please share your experience below.

  • April 12, 2022 |

    good for beginners like me, and a good bank too. one drawback to the bank is that you cannot just walk in. you need to have an appointment due to covid.

  • December 16, 2021 |

    Avoid this. Their advisers are crooks. They will churn your account and when you call them on it, they say it is just following best practices. Assholes sold half of my Pfizer positions without my knowledge. Had been a TD Ameritrade and moved over here to save on fees. Not a newbie or some sort of naive crypto trader. I am the real deal. Now they cost me a fortune. They will be hearing from me.

  • November 11, 2021 |

    I tried to trade Vestas and Orsted and was told that they are OTC stocks since they are unsponsored ADRs in the US and therefore cannot be traded through Schwab. I am looking fo another broker.

  • June 22, 2021

    Tried to open account through local branch for $100 bonus. Ended up dumped in Arizona call center and my check returned for no reason. Tried 6 months later online and was accepted, but no bonus as promised to open new client account. That account # got cancelled, another opened with a different number which was not mentioned to me what went on. . Found out only when (another) branch again returned my funding check, that my account was closed. Schwab had my phone email and physically/mailing address Also knew I was a finance professional and I had made no transactions. SMDH.

  • February 8, 2021 |

    Schwab doesn't let customers buy unsponsored ADRs. Some of the biggest companies in the world can only be accessed through unsponsored adrs by US customers. These include Royal Mail, Orsted, Vestas ... I opened an account here without knowing that. Now, I've closed the account.

  • January 5, 2021

    Charles and his hideous family are big donors to McConnell. I've taken my business elsewhere and you should too. Pay back is a bitch.

  • March 24, 2017 |

    Charles lowered its fees, avoid it anyway. This was about disrupting the big banks in the 1970s. Time has changed and they are being disrupted.

  • March 1, 2017 |

    System won't let me give it zero, but this is a scam.

  • February 4, 2017

    Dude, Times have changed. Enough with these crazy fees already.

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