Charles Schwab Overview
| Website | schwab.com |
| Year Founded | 1973 |
| Countries of Registration | United States |
| Website Languages | English, Spanish, Chinese (Mandarin) |
| Regulators | SEC, FINRA, CFTC, NFA, FDIC |
| Broker Type | DMA |
| Dealing | A-book |
| Minimum Deposit | $1 |
| Account Currencies | USD |
| Spread | average |
| Trading Platforms | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
| Trading Assets | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Commodities |
Brief look at Charles Schwab
Charles Schwab is one of the largest U.S. brokers, serving more than 34 million clients with over $9 trillion in assets. Schwab offers zero-commission stock and ETF trades, powerful thinkorswim and StreetSmart Edge platforms, and access to 65+ forex pairs, futures, and 24/5 equity trading. Client assets are protected by SIPC up to $500,000 with additional coverage up to $600 million.
Pros
- Commission-free online stock and ETF trades
- No minimum deposit or inactivity fee
- 65+ forex pairs and 24/5 trading
- Robust research and education tools
- Enhanced SIPC protection up to $600 million
Cons
- $25 fee for outgoing domestic wires
- No direct spot-crypto or MT4/MT5
- Advanced platforms can overwhelm beginners
Is Charles Schwab available in my country?
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Charles Schwab accepts clients from United States!
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Charles Schwab Reviews
I've been using Charles Schwab for trading forex and stocks. The app is user-friendly, and I appreciate the variety of account types they offer. The minimum deposit is reasonable, and I was able to sign up quickly. Overall, a solid broker.
10/15/2023Charles Schwab has been my go-to broker for forex trading. The demo account feature was incredibly helpful for practicing before I jumped in. The spreads are competitive, and the withdrawal time is faster than I expected. I highly recommend them!
8/22/2023While I like the Charles Schwab platform, I found the login process a bit cumbersome at times. The account types available are great but I wish they had more bonuses or rebates for active traders. Overall, it's decent.
2/10/2023I primarily trade with Charles Schwab, and I've been pleased with the experience. The ability to download the trading platform on multiple devices is a plus. The leverage options are decent, making it easier to manage my trades.
6/5/2023Charles Schwab is a trustworthy broker with a solid reputation. Their trading app is quite powerful, and the minimum deposit requirement is low. I've experienced some delays in withdrawal time, but overall, I'm satisfied with my experience.
11/30/2022Leave a Review
Is Charles Schwab regulated?
| Companies | Charles Schwab & Co., Inc.; Charles Schwab Bank, SSB |
| Countries | United States |
| Regulators | SEC, FINRA, CFTC, NFA, FDIC |
| Investor Protection | SIPC |
| Investor Protection Size | $500 000 |
| Publicly Traded | |
| Segregated Accounts | |
| Guaranteed Stop Loss | |
| Negative Balance Protection |
Charles Schwab Account Types
| Property | Schwab One® |
|---|---|
| Min Deposit | $1 |
| Lot Size | 0.1 lots |
| Spread Type | Floating |
| Execution | Market |
| Min Spread | 1.4 pips |
| Fee | No |
| Max Leverage | 1:50 |
| Stop Out | 30% |
| Margin Call | 50% |
Additional Features
- Demo Account
- VIP Account
- Swap-Free Account
- Copy Trading
- VPS
- PAMM/MAM Accounts
Charles Schwab Funding and Fees
| Base currencies | USD |
| Deposit and withdrawal methods | Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer |
| Inactivity fee | |
| Interest on margin | |
| Withdrawal Fee | $25 domestic wire ($15 online); $0 ACH |
Charles Schwab Trading Platforms and Conditions
| Trading Platforms | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
| Execution Speed | 50 ms |
| Scalping | |
| Expert Advisors (EAs) | |
| Depth of Market (DOM) | |
| Spread | average |
Charles Schwab Trading Assets
| Currencies | 65 |
| Indices | 20 |
| Stocks | 6000 |
| Cryptocurrencies | 1 |
| Bonds | 60000 |
| Metals | 5 |
| Energies | 5 |
| Soft Commodities | 12 |
| ETFs | 2000 |
Education and Analytics
| Economic Calendar | |
| Indicators | |
| Robots | |
| Signals | |
| Autochartist | |
| Expert Analytics | |
| News Feed | |
| Education Articles | |
| Webinars | |
| Seminars |
Charles Schwab Support
| AccessibilityHelp@Schwab.com | |
| Phone | +18004359050 |
| YouTube | YouTube |
Charles Schwab Alternatives
| Broker | Charles Schwab | Interactive Brokers | eToro | Saxo |
|---|---|---|---|---|
| Type | DMA | DMA | MM, Social | DMA |
| Minimum Deposit | $1 | $1 | $200 | $1 |
| Regulators | SEC, FINRA, CFTC, NFA, FDIC | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | SFSA, FCA, CySEC, ASIC, SEC | Danish FSA, FCA, MAS, FINMA |
| Platforms | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | eToro | SaxoTraderGO, SaxoTraderPRO, TradingView |
| Spread | average | low | high | average |
| Leverage | 1:50 | 1:50 | 1:30 | 1:30 |
| Assets | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Commodities | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies |