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:

Charles Schwab = "Nothing just works out of the box". As a former customer of TD Ameritrade with to-the-point online information and a common sense, well thought through investment platform, Charles Schwab's horrible interface was forced upon me when they acquired TD Ameritrade. With Schwab everything involves long phone conversation instead of just executing basic transactions online.

As a new client to Schwab, I was greeted and assisted by Abbey **. She was friendly, knowledgeable and most patient. Although I was unfamiliar with opening an IRA and using their online format, she guided me through the process. When I returned weeks later, she immediately recognized me and mentioned our conversation. I appreciate her kindness and professionalism.

Horrible, I had bought some call options in the SPY, funds were in the account to place the order. I bought them and went to look at them and they were sold without my knowledge, Schwab did not have the courtesy to to send me and email confirmation or an email through there mail box online. When I called to ask why? They told me they could do that with out my permission and I asked them to explain to me how you can sell my positions in my account with money in there? No answer from there risk department.

I have found what I think is massive fraud in the Schwab mobile app. I purchased a Canadian stock. The limit price was $1.50 the stock was trading at $1.30.. Schwab bought it for me at &1.50. The stock had not been at that price in the past 3 months. 20 cents a share more for 16,000 shares. They stole $3,200 from me. Just on that trade alone. Today I bought five stocks. The mobile app generates a limit price. Every stock was purchased at the limit price. I lost money one dry trade even though each stock went up considerably today. My email is **. If this is happening to you get in touch, maybe we can get a class action suit going.

*****SCHWAB IS TERRIBLE**** They don't give you any warning that their 529 won't count toward the Indiana529 credit. I wasted time running my daughter's funds through their 529 which is only compatible with Kansas colleges. They cost me $800 tax credit. When I confronted them, they were unapologetic and blamed me. If your customer has an out-of-state zip code, then flag a warning ⚠️. Schwab are **. I closed all of my accounts with them.

A HUGE Thank You to Jacob in Orlando. He assisted me today with moving some of my funds flawlessly - as I'm a bit fearful of doing this myself (I'm 72 and from the older generation). He was extremely helpful, professional and is a wonderful asset to SCHWAB. Thank you, Jacob!

Your online systems are a disaster, and they have been this way for many months. I have even sent a hard copy letter, via FedEx, and not received a response. Look at the dates of the screenshots. Add March 5th 2026. No Fire Someone!!

I am a Schwab customer and have been with them 20+ years. Recently, I tried to move my children's trusts from a different corporate trustee to Schwab. We talked for 8 months. There were promises and agreements made during the discussion and later revoked. Conversations were circular leading to no result. Treatment of the customer was disrespectful. As a result, I am moving and going to Vanguard. Lower cost, better service...

The 1099 is provided 2 weeks past the deadline. Do NOT ask them for help with a trade. I bought shares in the wrong account and asked if I could move them. They sold the shares, then bought them back at a higher cost. Then bought the same amount of shares again the next day. The font size on the web page is too large. You have to move left & right to see it all. Web design needs improvement.

I deposited $10,000 in August of last year at the local office in Sioux Falls. I discussed current money market rates and decided that was a better option that a CD at that time. When I downloaded my 1099 this year, I noticed that the total interest was $3.36. I called then and asked why I had received no interest on my $10,000 for over a year. I was told that the local people said that I did not request a money market deposit and there was nothing they could do. That was an outright lie to cover their asses. I don't know who ended with my roughly $500 in interest, but I can tell you who got cheated out of it. DO NOT do business with these people. They are dishonest and not willing to admit an obvious mistake or even TRY to resolve the issue.

Schwab has grown substantially since opening accounts there twenty years ago. It's highly securitized today with multiple layers just to reach customer service. There's one feature of the brokerage that's been weak from the beginning: The News functionality. By the time one hears of breaking news about a fund or stock that could be a bombshell to a holder, it's often too late. Opportunity loss can easily result from such information blackouts.

If zero stars was an option, then I’d choose zero. While the customer service on the 24/7 phone line is great, there is always some sort of red tape, whether it be depositing cash (no atm) or liquidating assets. The hold up always seems to be with the “back office”, and they can restrict your account making it difficult to access funds or any other financial information regarding your money. RUN FAR AWAY. Don’t waste your time.

Could not get the account open for two days.

I hurriedly made and account to take advantage of the app Autopilot but Schwab made it very difficult. I opened the account in my name instead of my trust name and a staff of Schwab told me to just cancel the account because it would be too much trouble. Each time you do an external transfer into your Schwab account from their site you must prove it is you (no trust after you completed once like most companies), They do not answer all messages and I am traveling out of the country with a 12 hour time difference and they cannot understand why I don't call the USA toll free number. Their site clearly states 1-2 business days for external transfer into my Schwab account when using their site but it took about a week and they messaged me to confirm 5-7 days. I would never recommend and will change quickly.

Updated on 12/06/2025: Follow up to my story: I spoke to a Schwab rep today who told me that they CLOSED my account. Once again, no call, no email, no notification whatsoever. Caveat emptor. On the plus side, I'm glad I found out how awful they are BEFORE sending in a big deposit. Disgraceful treatment and service. Quite astonishing, really.

Dear Fellow Customers,

In a corporate world of indifference and immorality, it is refreshing that Charles Schwab is considerate enough to make weekly check mailings from my account to a charitable organization, and they are doing it at no extra charge to me, and they are providing me a written documentation of the giving. Kudos to Charles Schwab in a day and age where the bottom line rules often at the expense of customers and the services they receive.

Charles Schwab and Thinkorswim for trading is the biggest scam. They are scamming the retail trader all day. Customer service is in denied of the right answer. I was not able to sell my position every time I have profit but always able to sell my position when I'm losing. I closed all my account with them. Is the worst company. I wish I can sue them for my loss. But they make you agree on all small print before you open accounts with them. Run far away for this company.

Cross your fingers if you're expecting help with a transaction. They believe whatever a merchant says and did not back me despite proof despite documented proof. Trusted the name. It is hype. Disappointed in follow-thru. Would never recommend.

I was anticipated on investing over $100,000 for 2025. I had three brokerage firms to work from that included Charles Schwab. For each broker, I started small investing less than $10,000 to learn about its service/s (pros/cons). Needless to say, Charles Schwab FAILED miserably! After placing an order investing into their fund SCHD of over $6,000, I held the fund for 2 days checking my account periodically on a daily basis. After 3 days Schwab mysteriously erased my account rendering my balance $0 in quandary. Even though I contacted Schwab to determine the error, they were unable to justify the mishap. Hence, I filed a complaint with SEC and CFPB for assistance. After the complaints were filed, Schwab closed my accounts and later reinstated my accounts without the history...very deceptive to say the least. In reverence to brevity, I will NEVER do business with Schwab and hope this will help others in searching for a better broker.

We've been with Morgan Stanley for decades, but have recently started working with Schwab. We have been so impressed with the customer service, the communication, the educational seminars, our representative, and their responsiveness. Most of all, we're impressed with the website, the comprehensive services offered, and the ease of use. We're looking to move more of our business over. Thank you Collin at the East Cottonwood office for being there for us!

I am rapidly losing confidence in Charles Schwab. For years I have tried to open a Pledge Asset Line, but instead of progress I was referred to Helen Peralta. I first contacted her over a year ago (no calls/emails back), and despite calling and emailing her again over the past two days, I have received no response. It feels as though Schwab has grown too big to care about long-standing clients. I’ve had a TD Ameritrade account since 2001, but this experience, with a single “wealth manager”, has shaken my trust in Schwab as a whole. At this point, I am seriously considering transferring my account to Fidelity.

My family was slammed by the purchase of TD Ameritrade by Charles Schwab. We did not want to be transferred but had no say in the matter. I am still struggling with not so helpful customer service dealing with the fallout. I have transferred 90% of assets to Fidelity and cannot edit to get the final account my son has out of Schwab. I have not appreciated any interaction I have had with Schwab, and requests that the claim should be completed in under 3 days. We are still waiting for action. Read reviews and pick a top rated broker. It’s not Schwab.

Schwab decided out of the blue to close my accounts due to "business decision". They are completely dishonest and I do NOt recommend them at all. If they ever send you a request for info about your accounts DO NOT answer. They collect this data and use it against you and for data harvesting probably. In the letter they sent me they told me my accounts will close later on and yet they closed it earlier... Does that sound like an honest company. Shady. Stay away from schwab. Furthermore their app is awful and terrible.

Very disappointed. I opened several accounts last year and I’ve yet to get my money invested. Process to get a wealth financial rep to get money invested is slower than snail's pace. Would never have opened accounts knowing what I now know! So many missed opportunities to get money invested. I can’t convey how disappointed I am. I called the rep's manager and have heard back. I suggest you go with another company.

Every time I have had a problem I speak with a person in seconds. The best checking account I have heard of. Often same day mobile check deposits. I can use any ATM on earth free of charge. When an issue comes up there’s no haggle. They just fix it.

I opened an account with Charles Schwab with two hundred dollars that I transferred from my checking account. It took 3 days for the funds to be available to me. Understood. It was a new account. Then deposited other $200 and took 4 days. I got to one thousand and over a month from the account being opened. So, on June 3 2025, I transferred $2300, to Schwab. Money long gone from my personal checking account. It sounds crazy but the funds will not be available for me to buy any stock I want, in the deep, until next Tuesday. From Tuesday to Tuesday to get a transfer to Schwab, available to you.. It sounds crazy. How can someone be in business doing that? Not my business. Going in person tomorrow and searching searching for another broker after finishing this review.

Absolutely terrible customer service. A large wire transfer did not through and I was never notified. When I called about it I was on hold over 40mins and I was told by the person from Schwab to redo the wire myself.

Charles Schwab customer service leaves a lot to be desired. They state that they will fix problems which they often do not. They make offers which they do not fulfill. When questioned they are truthful.

Tried to open a Trust account. Fill out application and they say it is wrong. Fix errors and then wrong again for different reason. Do this a few times. Then ask to upload documents. Done. Not enough. Won't Trust document. Big no from Trust lawyer. Privacy issue. Finally say OK but one more item. Did that. After 6 months of this they send email stating application has expired and start over.