Charles Schwab & Co. Reviews

If you don't know how to trade using your Schwab account beware they will charge you 25 dollars per trade by phone. Grateful to the agent that handles my account, he said he would credit the 25 dollars back to me. Regarding Schwab I ask where is the appreciation for investing with your agency? I also wonder if I had a multimillion dollar account would these vultures still prey on my retirement savings. "They have to make money too", Yeah by sucking money out of my savings like parasites and I echo my last refrain, would you tap my account if it was a multimillion dollar investment?

I would like Schwab to offer recurring automatic investments into ETFs by dollar amount. For example, I want to automatically invest every week a dollar amount without having to place the trades myself. Fidelity and Robinhood already offer this, and I would prefer to keep my investments at Schwab rather than open another brokerage just for this feature.

I placed a buy IREN at whatever price and had a trigger sequence to sell if the price dropped $.10/share. The stock plummeted prior to open. Schwab bought the stock at a lower price than my sell price. Instead of losing a few dollars, I lost $850. They manipulated my order prior to open on an order that should have been invalid since the buy price was lower than my sell price on my linked order which makes my order invalid. This has happened to me twice. The rule is that no order can be cancelled 5 minutes prior to open. I have had 2 Schwab employees tell me I placed the order properly. So in conclusion, Schwab broke the 5 minutes prior to open rule to cost me money.

Horrible experience with Charles Schwab- Never trust them- I opened an account with my life savings and received absolutely no advice about investment guidelines, different strategies or programs, just how to put the money in and make purchase. I'm 70 years old, social security and I told them that I have never bought stock. No counsel was offered. I woke up the next morning and 12.5 % of my life savings was gone in one day. Absolutely terrible and could have been prevented if they had offered me any kind of financial counseling services at all, paid or not, nothing, now I have to decide whether to just leave and lose or risk Charles Schwab losing the rest through my account with them- in any case very stressful.

I made a deposit in March of 2025. Not one time has anyone reached out to me in a year and a half to discuss my account, to let me know my account rep changed positions and that, basically, I had no account representative. I attempted to contact them over this time period with no response. Moving onto another company. NOT IMPRESSED!

On June 22, 2026 I submitted a application to open a brokerage account at Schwab (Wayne, PA office). They told me the app was perfect. On Wednesday the 24th they told me the account was open. When I went to set up my online access they wanted to send me a verification code to a phone number never associated with me nor was it on the application. After almost 3 weeks that unknown phone number still appears when I try to log in. I called them almost every day for two weeks to get it resolved to no avail.

I was a long time TD Ameritrade customer until they were acquired by Charles Schwab. My experience with Schwab has been terrible ever since. They do charge fees on stock sales even though they advertise that there are no brokerage fees. This is a change from TD Ameritrade. They also push financial advisor services on their customers through phone calls and scare tactic emails where they warn you about the dangers of how you are invested. They are dishonest about acknowledging that I had been previously contacted by prior advisors at Schwab. The latest one called my spouse initially who is not the primary manager of the accounts and did not reach out to me directly.

I can tell you this place (Bowie MD) definitely has an "good ole boys" persona. Phil ** outright instructed me to write my account number on the outside of a delivery envelope for a request to transfer funds. Condescending and disrespectful to think that I did not know any better. People like this should not be in business, especially one of others livelihood.

Charles is a dishonest company that cheated me out of my retirement funds totaling $246,000. They have recently reached a settlement in a class action lawsuit involving millions of dollars, which was filed by previous TD AMERICAN clients who, like me, lost their investment savings due to short sales, reduced completion, and restricted trades. I highly recommend conducting extensive research and due diligence before investing your life savings with this unethical stockbroker.

1. Schwab - Commandeering of my accounts with deleterious results: