Charles Schwab Review – Satisfaction Guaranteed
- What is Charles Schwab?
- How does Charles Schwab work?
- How much does Charles Schwab cost?
- Charles Schwab features
- Who is Charles Schwab best for?
- Who shouldn’t use Charles Schwab?
- Pros & cons
- Charles Schwab vs. Fidelity vs. TD Ameritrade vs. Merrill Edge
- The bottom line
What is Charles Schwab?
How does Charles Schwab work?
How much does Charles Schwab cost?
Charles Schwab features
Great tools and information
Customer support when and where you need it
Robo-advising through Schwab intelligent portfolios
Who is Charles Schwab best for?
Who shouldn’t use Charles Schwab?
Pros & cons
- Great customer service. The customer service of Charles Schwab is impressively reachable, with a deep knowledge base to help you learn and answer your questions before you even need to speak to an agent.
- Powerful investment tools. The calculators, estimators, and other analytic tools offered through Charles Schwab are both powerful and easy to use. This means that you can get the data you need to inform your investment decisions without jumping through extra hoops.
- Satisfaction guarantee. The stock market is incredibly volatile, so knowing that you have a satisfaction guarantee to protect you if you make a mistake or something goes wrong is valuable peace of mind that not many investment brokers offer.
- Money market funds aren’t automatically swept into. If you have uninvested cash in your brokerage account, Charles Schwab doesn’t automatically sweep it into a money market fund for safekeeping, so you’ll need to make sure you’re used to double-checking that your uninvested cash is where you want it to be.
- Separate interface for futures. While it’s more of an annoyance than a full-fledged drawback, it still is a nuisance to have to manage two separate accounts for futures trading through Charles Schwab.
- New investors could get overwhelmed by research. This is another minor quibble, but if you’re new to investing it’s easy to get overwhelmed or inundated by the amount and depth of research Charles Schwab offers. This is ultimately a good thing as you grow in comfortability around investing; however, if you’re just starting this can make the platform more daunting than it truly is.
Charles Schwab vs. Fidelity vs. TD Ameritrade vs. Merrill Edge
|Brokerage||Stock and options commissions||ETF commissions||Options per contract fees||Satisfaction guarantee||24/7 customer service|
|TD AmeritradeTD Ameritrade||$0||$0||$0.65||No||Yes|
The bottom line
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