Charles Schwab & Co.

Charles Schwab & Co.

101 Montgomery Street, San Francisco, CA

 3.1/5 (852 reviews)
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Overall Rating3.1 out of 5
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About Charles Schwab & Co.

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Charles Schwab is an online brokerage firm that offers a wide range of services for new and advanced investors alike. It offers stocks, bonds, mutual funds, exchange-traded funds (ETFs), options and precious metals, with a $0 account minimum and $0 commission for stocks, options and ETFs. Customer service is available 24/7 online or through the mobile app, with additional in-person assistance at over 300 branches across the U.S.

Pros & Cons


  • $0 account minimum
  • Fractional shares as low as $5


  • Minimum $50,000 balance for tax-loss harvesting
  • No spot trading for cryptocurrency

Bottom Line

Anyone can get started with a Charles Schwab investment account with no account minimum and $0 commission on many trades. It even offers cryptocurrency investments through special ETFs and coin trusts. Those looking for tax-loss harvesting strategies to save money will need to invest a high amount.

Top Charles Schwab & Co. Reviews


What a superb company to do business with. My father passed on in December, and there was money in his Charles Schwab account for me to claim. Unlike many of his other accounts th...

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Minimal fees; brokers walk me through the process how to buy and sell shares. They make recommendations. If I want additional assistance, they will do so for a charge. There is a ...

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What is Charles Schwab & Co.?

Founded in 1971, Charles Schwab offers a variety of services to meet the needs of all types of investors, whether they’re just starting out or are more experienced traders. It offers a full suite of online trading tools, with zero minimums on accounts — allowing you to manage your investments without any cost to you. Additionally, it provides investment advice through a network of over 13,000 financial advisors as well as via its robo-advisor program.

Charles Schwab is well known for its robust research section, which allows you to read top headlines and save stories to your account. You can pull up the most-researched keywords so you know what everyone is buzzing about — both good and bad. Each stock comes with its own analysis, with an equities rating report card. On top of these research tools and calculators, Charles Schwab puts out frequent investor podcasts.

How does Charles Schwab & Co. work?

To open a brokerage account with Charles Schwab, first decide if you want an individual account or a joint account. An individual account means it is only owned by you, and individuals cannot be added on. For joint accounts, there are three types available; these are commonly shared by married couples, parents and children, and business partners.

For either account, you will need to provide your Social Security number or tax identification number, employer name and address, and your email address and mobile phone number.

Charles Schwab & Co. products

Charles Schwab offers many options for its brokerage accounts, individual retirement accounts (IRAs) and college savings accounts. These are some of the features:

Schwab Intelligent Portfolios: If you want to invest but the thought of do-it-yourself investing doesn’t appeal to you and advisor-run accounts aren’t your thing, the Schwab Intelligent Portfolio option is a happy medium. This robo-advisor account requires an opening deposit of $5,000, but you will not pay any advisory fees on commissions.

Fractional shares: Schwab Stock Slices is an easy way for any investor to get a piece of any S&P 500 company, such as Apple or Target, for as little as $5 per slice. These investments pay dividends, but keep in mind you will not be able to transfer a fractional share.

Schwab Starter Kit: For those new to investing, the Schwab Starter Kit allows you to start with a $50 deposit, and the company will give you investing advice and $101 to invest across the top five stocks in the S&P 500.

Charles Schwab & Co. pricing

Trading fees and commissions with Charles Schwab & Co. vary by product. Listed stocks and ETFs have a $0 online commission fee, and options have a $0 online base commission and 65-cent fee per contract. Futures and futures options cost $2.25 per contract. If any of these trades are broker-assisted, there is an additional $25 charge.

All accounts have $0 opening and maintenance fees, and most have a $0 account minimum. A Schwab Charitable account is the exception, with an account minimum of $5,000. Broker-controlled investment management accounts can come with fees and minimum account requirements, depending on the account type.

As far as transfer fees, the only fee Charles Schwab charges is a wire transfer from your Schwab investment account, which costs $25 per transfer ($15 for online transfer).

Charles Schwab & Co. FAQ

Does Charles Schwab offer a satisfaction guarantee?

If for any reason you're not completely satisfied, Charles Schwab will refund your eligible fee or commission and work with you to make things right. All refund requests must be made within 90 days of the charge. Eligible fees include program fees and commissions.

Does Charles Schwab offer cryptocurrency?

Charles Schwab offers a few cryptocurrency products, but spot trading is not available. As of publishing, you can invest in cryptocurrency-related ETFs, bitcoin futures and cryptocurrency coin trusts, which trade over the counter and behave like closed-end funds. Some stocks, like PayPal and Overstock, provide indirect exposure to cryptocurrency, as well.

Does Charles Schwab offer tax-loss harvesting?

Tax-loss harvesting is only available for accounts with $50,000 or more in Schwab Intelligent Portfolios.

Is Charles Schwab & Co. legit?

Charles Schwab has been a key company in the investing world for over 50 years. As with any investment products and brokerage accounts, you can lose money. However, Charles Schwab's satisfaction guarantee and robust resource center make the company a good option for new investors to try out.

Charles Schwab & Co. Reviews

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Page 1 Reviews 0 - 10
Verified Reviewer
Original review: May 18, 2023

Avoid Schwab at all cost. They are the most crooked brokers and bankers in the industry. They do not have the client's best interest and only enrich themselves. They block access to your money and fail to make timely trades or distributions. They lure you in with phony IPO's that immediately lose half their value and never recover. Stay away!!!

4 people found this review helpful
Verified Reviewer
Original review: May 11, 2023

I went to Schwab location to withdraw a sizable check only to learn they don't print checks. After hearing my options I decided to have it overnighted and was assured I would have it yesterday. It's 2pm and still no check. I called cust service and before I was disconnected twice (promised a callback after the first time but never did I get a call back) the person informed me they printed the check yesterday and overnighted it and it could be until tomorrow that I receive it. There is a fee for overnighting yet it can take 3 days to receive it. I am livid at this moment. Lousy service!

3 people found this review helpful

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    Verified Reviewer
    Original review: May 11, 2023

    Schwab updated their .com site recently. I use my Google Pixel 6 and I use my Pixel 6 through the Chrome browser to access my accounts at many times a day. The opening page is set for Summary. You used to be able to see every category in detail for your accounts, Equity positions, ETFs and Closed End Funds, Fixed Income, Cash and Money Market. You could see everything just like when you signed on by computer. Now you can only see your accounts with value and market change and total. The rest of the screen is just garbage about other areas of information that you can easily access using the 3 bars button. No more detailed summary.

    I spent a long time with various customer service reps getting ridiculous information until the last one just said, it has changed and that's it. Why would a company make information less available on the phone? I even downloaded the app as suggested by a rep and it too doesn't give the detailed summary so I can monitor my account. I guess they expect people to go back to the dinosaur age and only log in by computer.

    You can pick each account and get a watered-down version of your balances (not expandable for details). Worse, every category has now been merged into one positions list that is alphabetized, no categories at all, except for cash at the very bottom. So if you are like me, with lots of individual equities and money in other asset classes, you are forced to dig through a long list to try to figure out where you stand. It is utterly useless to not have categories which are expandable to give you all the information you need, including breakdowns and totals. Dumbest change ever and bad enough for me to begin looking elsewhere for a brokerage that uses up-to-date tech and understands that people use their phones at all times and everywhere.

    3 people found this review helpful
    Verified Reviewer
    Original review: May 3, 2023

    Charles Schwab company been used them around 11 years. Before I use Was pretty good. After they change to StreetSmart Edge. Find out have ** load of problem last 2 years. I have to call them million time to fix the same problem, trust me don't ever use this company at all. Horrible website. I put a bracket order even it trigger the $ but is still show order is open and this happen many time already. They never fix it. I call them the first time was 2 years ago till now, trust me don't ever use Charles Schwab. They have ton of problem on the website.

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    Verified Reviewer
    Original review: April 22, 2023

    Horrible!!! Opened a Schwab account to see where my TDA account will forced over to in order to get a feel for the Schwab platform and I found Schwab to be stuck in the 1970s!

    1. No realtime quotes, you have to click refresh to get a current quote.
    2. Schwab is unusable for OTC penny stock trades because there is a 999,999 share trade limitation...they told me I can always call to place a trade but it will be at the broker's discretion if the $25 phone trade fee will apply or not!
    3. Schwab is so far behind the times, There is no way to do a search for high volume tickers...they don't have a search to find high volume tickers!
    4. The charting on the Schwab standard platform will not allow me to place a 100 period Moving Average on the charts.

    5. You can't place an OCO order for 2 different tickers, Schwab doesn't allow this type of order.

    Conclusion: Charles Schwab is an outdated Grandfather's investor platform, they don't care about their customers at all and are forcing TDA accounts over to Schwab and they will be scraping the TDA platform like the Evil machines in the movie Avatar...they advertise they will be sure to provide the tools needed to secure your financial future but it's all **!!! They have a useless platform for real traders and don't seem to they are banning me from trading my TDA account and want me to go away! Guess I have to transfer all positions to my Etrade account! They get 1 star coz I can't post a no star rating, BYE BYE CHUCK!!

    3 people found this review helpful
    Verified Reviewer
    Original review: April 21, 2023

    I've been a customer for 10+ years. This bank use to be great. Customer service was wonderful. Now it's terrible. Payment services are inconsistent. They've mistakenly frozen my accounts and not told me about it. It cost me hundreds in fees with third parties, and they still haven't apologized or even admitted wrong doing. I'm moving all my money OUT of Schwab now.

    4 people found this review helpful
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    Verified Reviewer
    Original review: April 12, 2023

    I cashed in an annuity and wasn’t informed about the change from state to state as I’d cashed one in while living in WA for a larger amount than one while living in ID. Plus it being quite a smaller amount and I was blindsided with the taxes today and the fact of not making payments and the penalties which wasn’t the case in WA? They should have explained this so I didn’t have to go broke!

    2 people found this review helpful
    Verified Reviewer
    Original review: March 29, 2023

    My partner and I arrive at 3:55 PM at the Charles Schwab office in Mystic on Friday, March 10, 2023 for our 4:00 PM pre-made appointment to add additional accounts to our current accounts. As we sat there waiting for our appointment, it wasn’t until 4:15 PM that we were finally acknowledged at all by Bryan ** with such utter disdain as soon as he walked out of his office. He then began to speak down to us with such a nasty disposition and in such a condescending attitude too that was quite shocking and disgusting coming from a representative of Charles Schwab.

    Bryan **'s behavior was inexcusable and was unacceptable and represents the worst in customer service. I believe in part to Bryan **'s rude and nasty behavior was that he more focused on getting out of the office by 4:30 PM to start his weekend, and had zero interest in performing his duties as a Financial Consultant. I would expect better treatment from Charles Schwab than what I received. Think twice before having any dealing with Bryan ** of Charles Schwab in Mystic, Connecticut.

    3 people found this review helpful
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    Verified Reviewer
    Original review: March 9, 2023

    I contacted Charles Schwab due to overpayment in my 401 plan which caused problems doing my taxes. Well I got the most uncaring unknowledgeable employee Klarissa. I explained my son had just died. He was 25. I told her I needed to file my taxes to get money for funeral home and due to overpayment I could not. Well she told me all the wrong things to do. It took 4 days for jay to finally call me 4 days very unprofessional meanwhile I’m calling every day getting lied to saying someone was going to call me. I will tell you know I have dealt with Fidelity T Rowe price and Ameriprise. Never had issues.

    Bottom line they don’t care. They would not expedite the situation. They did not care. So do not trust your money with them. They are an awful company. They made multiple mistakes over 4 days and will not own up to them. I had to tell my heartbreaking story of my son dying over and over again explaining I need to file my taxes to pay funeral home not a soul cared or did anything and they said write as many reviews as I wanted. No one would do anything or respond to them. So this is more information don’t trust them with your hard earned money. You will be disappointed.

    9 people found this review helpful
    Verified Reviewer
    Original review: Feb. 16, 2023

    Poor customer service over an hour wait to speak to a service representative but they refuse to explain why they do not follow the IRS rules as laid out in IRS PUBLICATIONS and at the advice of our tax specialist.

    10 people found this review helpful
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    Charles Schwab & Co. Company Information

    Company Name:
    Charles Schwab
    Year Founded:
    211 Main Street
    San Francisco
    Postal Code: