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
Please share your experience below.
evelyn
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.
Chuck is terrible
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.
Bostic
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.
WJ
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.
JPP
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.
Me too
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.
Jeff
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.
Guest
March 1, 2017 |
System won't let me give it zero, but this is a scam.
The fees!
February 4, 2017
Dude, Times have changed. Enough with these crazy fees already.
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