Charles Schwab¶
- Name: Charles Schwab
- Website: https://www.schwab.com/
About Charles Schwab¶
Charles Schwab has been in business for over 50 years. It made its name half a century ago by cutting trade commissions for individual investors at a time when competitors were raising them, and it has grown into one of the largest brokers in the United States. Schwab bought TD Ameritrade in 2020, which is where its thinkorswim trading platforms came from. Scottrade and CyberTrader, two brokers that used to be listed on this site, also ended up as part of Schwab.
Online trades of listed stocks and ETFs are $0. Options are $0 plus $0.65 per contract, futures and futures options are $2.25 per contract, and forex is priced in the spread. Active traders get thinkorswim on desktop, web and mobile, including the paperMoney practice account. Everyone else can use Schwab.com and the Schwab Mobile app. Schwab offers 24-hour trading five days a week on more than 1,300 tickers and has a Trade Desk team for traders who want to talk to someone.
Schwab is a full financial firm, not only a broker. It has its own bank with checking, savings and home loans, an automated investing service, financial planning and wealth advisory services, fractional shares and more than 400 branches for in-person help. Customer service is available 24/7. The feature competitors do not match is the Satisfaction Guarantee: if you are not satisfied, Schwab will refund any eligible fee related to your concern.