CHARLES SCHWAB REVIEW

As a new trader, one of the first decisions you make is which broker to open an account with. Experienced traders may consider switching brokers to save on fees and commissions. Or simply for a more adequate trading platform.

Fortunately, there are many well established, trustworthy brokers to choose from. Charles Schwab is undoubtedly one of them. In fact, they're a leader in the online brokerage world.

Let's find answers to the commonly asked questions about Schwab. What is Charles Schwab about? How much money do you need to open an account? Does Schwab have hidden fees?

IS CHARLES SCHWAB ANY GOOD FOR BEGINNERS? (REVIEW BREAKDOWN)

• Charles Schwab is a good broker for beginners but traders are waiting with baited breath to see what happens with their take over of TD Ameritrade. We will see if their take over of the ThinkorSwim platform will make them one of the best brokers in the industry and become the trading broker of the future

Today, it's not only one of the largest banks in the United States but one of the largest brokerage firms. A Charles Schwab Brokerage Account is an attractive option for short-term traders also.

Mobile trading apps like Robinhood and Webull offer commission-free trades. As a result, traditional brokers have to compete in more ways than just slashing fees. In fact, Charles Schwab has excellent customer service with over 300 local branches in 46 state. Also offering value-added services and incentives targeting retail traders. For example:

• No minimum for funding your account -- Schwab eliminated this requirement for a retail brokerage account.
• Access to an extensive list of mutual funds and ETFs you can buy without paying transaction fees and commissions.
• Can be your online bank with ATM access from around the world.
• Ability to trade stocks in a dozen foreign markets.

2. PLATFORMS & TOOLS: CHARLES SCHWAB REVIEW

If you're familiar with ThinkorSwim (TOS) from TD Ameritrade or the Trader Workstation (TWS) from Interactive Brokers, you may find the Charles Schwab StreetSmart Edge desktop software simpler. It has fewer features than TWS and misses the advanced technical indicators of TOS. 

However, most trading pros will tell you that simplicity is what they strive for. You'll find all the basics you'll probably ever need to succeed in Charles Schwab's StreetSmart Edge. Take a look at this Schwab trading tools demo.

3. NOT THE RIGHT BROKER FOR FOREX TRADERS

The Charles Schwab brokerage account does have its limits. For example, no Forex trading at the time of this writing. Some customization options have limits compared to other programs. The mobile app doesn't support some advanced order types. However, that's true for many mobile trading apps.

For social sentiment, stick to applications like StockTwits and Twitter. The learning center may be confusing for new traders as well. However, I'm biased toward Bullish Bears trading courses.

We're focused on giving our community members clear, realistic, affordable education. The goal is to help shorten the learning curve while avoiding the stock market pitfalls.  You'll see other Charles Schwab reviews say they aren't good for forex.

WHAT ARE CHARLES SCHWAB FEES FOR 2020? (PRICING REVIEW BREAKDOWN)

1. Charles Schwab fees: $0 online stock, etf and options commissions
2. $0 - $5 service charge for automated phone trades
3. $0 - $25 service chart for broker-assisted trades
4. $0.65 per options contract
5. $1.50 per contract for futures and futures options

Schwab, like many of many of its peers in recent years, have been aggressively slashing fees to compete with brokers like E*Trade, Fidelity and TD Ameritrade. In the past year alone, Schwab online equity trade commissions went from $8.95 to $6.95. Now they are free. Check out a list of the top trading companies.

1. BOTTOM LINE FOR NEW TRADERS

If you're shopping for a new broker to switch to, there's a lot to like about a Charles Schwab Brokerage Account:

• Low commissions - $4.95 per stock.
• No account minimums - (PDT rule still applies)
• Global markets access - with real-time quotes during market hours.
• Excellent customer support - even face to face if you live close to one of their 340 branches in the US.
• Free, easy to use, well-designed StreetSmart Edge desktop software.

US residents can't go wrong by opening a Charles Schwab Brokerage Account. They come with a satisfaction guarantee. If you're not satisfied for any reason, they'll refund the previous quarter’s program fee. 

If you're looking for the best stock market trading site look no further. You're in the right place. The Bullish Bears trading service is all about teaching so you don't stay a beginner forever.

By joining us and participating in our live trading rooms, you'll quickly learn the lingo of the trading world and be comfortable using programs like Schwab's StreetSmart.