Can anyone who has a Charles Schwab account
tell my the pros and cons of having an account there?
Are there anything which has disspointed you?
Anything surprised you negatively?
They are good. I have been there since 1983.
Great 24 hour service.
I think the Analytics of Street Smart Pro are not
as good as Fidelity.
No bond data for starters.
I am a retired mutual fund manager and expect a lot.
They try hard.
They just bought at bad analytics package called Cyber Trader. Fidelity is so big they did it better
SS is still ok. It has bugs. Bad ETF names. 5 day %
change on a stock screen = na
Get some free trades for opening a new account - I think 50 trades is being given now. If none are being offered on line call a local office and the manager will normally get you 50 or 100.
If you have kids you could also open a Coverdale Account with Schwab. Works like a Roth IRA. You can put up to 2,000 into it per year and earnings are not taxed if it is used for books, tuition, and room and board expenses.
Get another block of free trades too.
Nope..been a customer for 25 years. Got a credit card from them (2005) and they gave me a 100.00 debit card to use as needed. I cashed out travel rewards (25,000 pts) for a cash deposit into the checking account of 250.00 this month. They link the broderage, credit card, and bank so you can use them on line.
I did my estate planning with the local office too. Saved about $600.00 compared to other local guys.
Negative was that you had to pay 49.95 to trade <1000 shares. Then they went to 29.95. Now it is 8.95 so the broker fee does not lock you into trades for so long now.
Congrats....you have a million dollars in your Schwab account. Millionaires pay a universal $8.95 to trade. Everyone else...$12.95 for your first thousand shares then $15.00 for each subsequent thousand share increment. You'd think you'd get a break for the higher number of shares, but you don't. Schwab charges you more for upping your orders.
We've had an account with Schwab since 1980 and have since moved all of our accounts (6) to them. We like the 24/7 access, specialty teams, online order entry and moneylink services. When we've had a problem they've worked with us and followed-up. Their personnel is knowledgeable, polite and prompt. We don't day-trade but do use the charting, Streetsmart & research components. We usually place our trades online and occasionally telebroker which comes in handy when we're on the road without computer access and want automated service. We have accounts with BofA and are considering moving our banking relationship to Schwab.
For factual information about fees and commissions, go to their website. Some of the poster's on this board are either paid spammers or shorts and will try and use any opportunity to spread their worthless and fraudulent lies.
I've been an account holder at Schwab for some 22 years...no complaints....I have a brokerage and an IRA rollover. I am not a day trader so I cannot tell you anything about that stuff'. I do make good use of their money transfer links
to other bank accounts and never have had an issue moving money around. I also use their stock screening tools(quite good and rated so by outside sources).
All in all, you could do much worse..don't know your specific needs with a broker,but they have always done me right...good luck!