• About
    • Read Our Disclaimer
    • Store
    • Contact
  • Rooms
  • Lists
    • Day Trade Watch List
    • Swing Trade Watch List
  • Courses
    • Beginners Course
    • Basic Day Trading
    • Advanced Day Trading
    • Swing Trading
    • Basic Options
    • Advanced Options
    • Futures Trading
    • ThinkorSwim Setup
    • Lightspeed Setup
    • Interactive Brokers Setup
  • Tools
    • Scanners
      • Trade Ideas
      • Benzinga
      • Finviz
      • Stock Rover
      • Black Box Stocks
    • Charting
      • TrendSpider
      • Simpler Trading
      • TradingView
      • Bookmap
    • Discounts
    • Stock Market Books
      • Day Trading Books
      • Swing Trading Books
      • Options Trading Books
  • Blog
  • Join
  • Members
Bullish Bears Trading: Stocks, Options & Futures + Free Stock Market Courses
  • About
    • Read Our Disclaimer
    • Store
    • Contact
  • Rooms
  • Lists
    • Day Trade Watch List
    • Swing Trade Watch List
  • Courses
    • Beginners Course
    • Basic Day Trading
    • Advanced Day Trading
    • Swing Trading
    • Basic Options
    • Advanced Options
    • Futures Trading
    • ThinkorSwim Setup
    • Lightspeed Setup
    • Interactive Brokers Setup
  • Tools
    • Scanners
      • Trade Ideas
      • Benzinga
      • Finviz
      • Stock Rover
      • Black Box Stocks
    • Charting
      • TrendSpider
      • Simpler Trading
      • TradingView
      • Bookmap
    • Discounts
    • Stock Market Books
      • Day Trading Books
      • Swing Trading Books
      • Options Trading Books
  • Blog
  • Join
  • Members
Bullish Bears Trading: Stocks, Options & Futures + Free Stock Market Courses

Charles Schwab Review

Posted on March 1, 2019 by ChrisM - Brokers, Reviews

Considering fees & commissions keep changing, you’ll want to read this Charles Schwab Review. Let’s take a look at the pioneer of the discount brokerage business. We’ll cover the primary considerations self-directed investors look for in an online broker. In fact, in this Charles Schwab review brokerage accounts have long been popular with long-term investors; for good reason. This San Francisco based publicly traded company (NYSE: SCHW) has been around since the early ’70s.

Table of Contents
  • Is Charles Schwab Any Good for Beginners? (Review Breakdown)
  • What Are Charles Schwab Fees for 2021? (Pricing Review Breakdown)

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.

Note in this Charles Schwab review, a Schwab brokerage account isn’t the same as a Schwab bank account. Schwab Intelligent Portfolios invest in Schwab ETFs. Cash deposits held at Schwab Bank are FDIC insured. However, brokerage products such as ETFs, stocks, bonds, mutual funds, and money market funds are not FDIC insured.

Platforms & Tools: Charles Schwab Review

optionsXpress: In 2011, Charles Schwab acquired optionsXpress. It’s now fully integrated with the Charles Schwab platform. As the name implies, optionsXpress is an electronic trading platform specializing in options trading.

Options Traders enjoy easy-order entries from the former optionsXpress all-in-one trade ticket. The ‘Probability Calculator’ is another great tool carried over. This makes it easy to analyze potential positions.

Schwab Intelligent Portfolios & Schwab Intelligent Advisory: In 2015, Charles Schwab launched a “Robo-advisor” service. It provides algorithm-driven financial planning with little human supervision. Just in case you don’t believe an AI robot can do a better job than a human, Schwab also offers discounted advisory services.

StreetSmart Edge (desktop based) and StreetSmart Central (web-based): A new trading platform will always be a little confusing and overwhelming; particularly to new day traders. Even if you’ve been using a trading software for a while, switching to a new one has its learning curves.

However, the essential tools needed are pretty much the same from one trading interface to another. StreetSmart Edge’s ease of use may surprise you. What you display on your screen is also significantly based on your preferences.

A good platform should allow you to customize it as you see fit. Charles Schwab StreetSmart Edge station is no exception. To me, the interface looked clear and clean, (seriously, their charts look so “crisp” on all time frames). (learn how to invest in stocks).

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.

Charles Schwab Review

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 2021? (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.

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.
Charles Schwab Review

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.

Tags: Charles Schwab, charles schwab bank, charles schwab brokerage account, charles schwab fees, charles schwab review, Does Schwab have hidden fees, How much money do you need to open a Charles Schwab account, Is Charles Schwab a good brokerage, schwab investments

Free Trading Courses

Leave a Reply

Your email address will not be published. Required fields are marked *

FREE TRADING COURSES

Free Trading Courses

RECENT POSTS

  • What Is the NYSE Arca Exchange?
  • Can I Trade Vape Stocks?
  • How to Trade Gold for Money

Related Articles

Barchart Review
Barchart Stocks Screener Review
Interactive Brokers Review
Interactive Brokers Review
How to Open a Brokerage Account
How to Open a Brokerage Account

Previous

« Can You Paper Trade Options & What is the Best Trading App?

Next

How to Use Volume MACD When Trading »
  • Home
  • Disclaimer
  • Watch Lists
  • Courses
  • Rooms
  • Contact
  • Join

© 2023 by Bullish Bears LLC.

Connect With Us:

If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information.

Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.

If you would like to contact the Bullish Bears team then please email us at bbteam[@]bullishbears.com and we will get back to you within 24 hours.

BullishBears.com, 60 Pinney St, Ellington, CT. 06029 United States

DISCLAIMER: We’re not licensed brokers. You’re 100% responsible for any investments that you make. We’ll let you copy our trading strategies but we don’t make money 100% of the time. Read our full disclaimer before making any trades – https://bullishbears.com/disclaimer/

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT