Charles Schwab Reviews And Information

Charles Schwab is the original discount brokerage, but nowadays it operates at the mid-range level, offering many services normally only available at full-service brokers. Their commissions are still very low compared to the typical big brokerage, but they're not the cheapest broker out there any more. That being said, cost is not everything, and for those who want a bit more personal attention from their broker, Charles Schwab is a choice worth considering.

Charles Schwab Services

Schwab has several commission tiers depending on account size and trading frequency. They provide real-time streaming quotes for all of their customers, along with several comprehensive suites of research tools geared to traders of various levels of sophistication. Their StreetSmart line of platforms provide sophisticated querying functions for researching opportunities, real-time technical analysis tools, screens, simulated trading for testing out strategies, all with a customizable interface. Plus level II quotes are available. A simpler interface is also available for traders who don't need all of these features.

Further, for day trading and other highly active trading, Schwab offers a software platform called CyberTrader, which provided Level II data and direct access trading, including the option to interact directly with market makers. Investors interested in day trading will also be pleased to know that Schwab offers a separate per-share commission structure.

In addition to its brokerage, Schwab offers a wide array of other financial services, including banking, independent investment advice, mutual funds, retirement accounts, and more. Further, for those who want to meet with a broker face-to-face from time to time, Schwab have 270 local branches where you can talk with real-live humans.

Charles Schwab Reviews in the Media

Schwab has consistently received high marks for its technology, customer service, quality and speed of executions, and its broad selection of products and services. Schwab has offerings suitable for most any kind of investor, from independent small investors to affluent investors with broad holdings who require more individual service and attention.

Downsides to consider

Schwab has a number of supplemental fees which can take their toll on smaller investors. Further, their commissions are higher than most discount brokers for all but the most active of traders. Lastly, Schwab brokers tend to give the hard sell on Schwab's internal products such as mutual funds.

Bottom Line

Schwab is one of our top two picks for customers who want more personal service, including independent investment advice, wealth management services, and the ability to meet with brokers in person (Fidelity Investments is the other). If this is you, then it's hard to beat Schwab for quality and value. Smaller accounts and the more independent-minded, on the other hand, would likely be better off with less expensive providers, such as Zecco.com or TradeKing.com.

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