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Charles Schwab customer reviews 2017: complaints, feedback from clients, pros and cons. Is it safe to invest?


Charles Schwab Review

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Charles Schwab Account

  • Stocks & ETFs: $4.95
  • Options: $4.95 + $0.65 per contract
  • Mutual Funds: $76 to buy, $0 to sell
Minimum to open: $1,000 for a cash account.

$1,000 is minimum deposit to open a new brokerage account. The minimum is waived if you open a Schwab One brokerage account with Schwab Bank Investor Checking™, or if you establish a monthly transfer of at least $100 to your Schwab One account through either direct deposit or Schwab MoneyLink®.

Charles Schwab is among the six Barron's brokerage firms, which receive a 4-star rating this year. Charles Schwab comes in 8th place by the total score number, moving up from 11th place in 2015.

 

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Charles Schwab Customer Reviews

by Youshalldie, 10/28/2017

Pros: Easy trade

Cons: Charts

For negative reviewers, you shall stop trading and shoot yourself for good. Basically all 1 star reviews under every company ,TD , IB , eoptions etc. Go hold your bag in hell.

by WJ, 10/26/2017

Pros: Wide selection of investment options

Cons: Lack of integrity in serving clients. The client advocacy team is established to keep complaints from becoming formalized.

They are heavy on marketing their services to attract clients financial assets. I began consolidating my various accounts to Schwab as they promote you do and discovered that they have discretionary authority to cancel trades, remove securities from accounts without authorization, etc. When you file a complaint the client advocacy team attempts to explain everything away over the phone and refuse to provide written documentation of any wrong doing. I recommend moving any accounts you have at Schwab ASAP.

by Pat Graham, 10/23/2017

Pros:

Cons:

October 2017 Long wait time for chat; break-down in Internet access to my account--repeatedly; really bad for a company that I've done business with for more than 20 years. I'm exploring other options.

by vance muncy, 7/5/2017

Pros: 4.95 and nice people

Cons: bad and I do mean bad technical support, Terribly long waits for the bogus technical support

15 min waits for technical support only to have guy come on and say 'we are still on hold with the help center mr muncy'. it appears this company has blatant disregard for their customers time energy and ruining what has been a great day. When you have over $700,000 which is all we have with a company you expect them to be responsive and they aren't.

by Elaine, 1/27/2016

Pros:

Cons:

I discovered that there are 200 shares of Apple stock missing from my statement. I am positive that I should have 800 shares however my statement only shows 600 shares. This is a ridiculous situation and it may be happening to other folks who don't happen to catch it. I tried calling the customer service rep and they asked for my secret password. I have never set this up and do not know what it is. So they could not help me. It may be that they asked me some question like "what is your first dog's name?" a while ago but since they did not ask me the question, how am I supposed to answer it? Also, do not use their private wealth service. It is expensive and not worth it. I ended up cancelling it. The advice that they gave me was lame.

by Rich, 5/6/2015

Pros:

Cons:

I noticed today, May 6, 2015, that the volume figures being reported are not accurate. The Schwab numbers were compared to a Bloomberg system down the hall and for some stocks the Schwab volumes were highly inflated. A call to technical support passed the blame on to a third party vendor feed. TechSuppot did not care that the system was reporting improper numbers. When I asked how I could verify the accuracy of the bid and ask prices I was told to compare the prices to an online stock quoting website. I also felt that there was no sense of urgency to fix the problem. I no longer have confidence in the reliability of the data reported on their systems.

by Handel, 4/13/2015

Pros:

Cons:

I love Schwab. I am a struggling working person with only tiny regular amounts to invest. Every time I call, I am treated as though I have six figures sitting in Schwab's accounts earning them large fee income. They always take the time to answer any questions I have. In contrast, TROW and Fidelity reps have both told me I am not worth even opening an account for, (yes, in so many words and in TROW's case, literally). Last year, I lost my job and had to relocate to help care for my parents, who are elderly. A financial emergency forced me to withdraw money from my IRA. The guy I spoke to acted like I was his brother who was in trouble. Schwab waived all the fees that could have applied to the withdraw, and I had the money the next day. $100 to open any of their funds. People to talk to who really care. I will be staying with Schwab.

by Neil YEAKEL, 5/7/2014

Pros:

Cons:

I WISH TO MAKE A RATING ABOUT SCHWAB. WE HAVE BEEN A SCHWAB CUSTOMER FORABOUT 20 YRS. THIS OUTFIT WAS FINE AT THE BEGINNING. FOR THE LAST 5+ YEARS WE HAVE NOTHING BUT TROUBLE WITH THERE INTERNET SITE. WE CANNOT RESEARCH ANYTHING. SCHWAB KEEPS FORWARDING OUR PROBLEM TO TECH WHICH KEEPS TELLING US OUR COMPUTER IS AT FAULT. WE HAVE TO USE DIALUP BUT OTHER SITES ARE FINE. WHEN WE SIGN IN TO SCHWAB WE GET THIS BIG CIRCLE GOING AND AFTER ABOUT 15MIN WE ARE TIMED OUT. I WOULD NOT ADVISE ANY PERSON WHICH HAS TO USE DIALUP TO DO SCHWAB-THERE MB ON PAGES ARE TOO LARGE.




Leading U.S. Brokerage Review Websites About Charles Schwab


"Charles Schwab is one of the five largest brokerage houses in the United States and it has been in business for over 45 years. The firm offers a rich selection of investing products, though futures and forex trading is not provided.
Schwab does not have account maintenance and inactivity fees. There are no surcharges for large orders, penny stocks, or after-hours trading. Having an option of opening a checking account with brokerage firm is always nice, and the company does offer top-notch customer service. "

"Charles Schwab provides a variety of investments suitable for traders and investors. Trade commissions are competitive, albeit higher than some services, including the broker-assisted fee. The online platform contains good trading tools, and you can access your account and place trades from the most popular mobile devices. Charles Schwab has a well-established and trusted name, and the service it provides is solid, but some of its fees make it a less desirable service than the best online brokers."

TopTen Reviews

"By boasting the highest customer satisfaction ratings in the industry alongside 24-hour customer support, it's evident that Charles Schwab has a clear and steady focus on their clients. With a flexible platform made up of powerful trading tools, Schwab excels in most areas, although new traders won't have the luxury of trying any of these tools unless an initial deposit is made."

Reviews

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Charles Schwab reviewed by former and current clients. Charles Schwab customer reviews: 8. Rating: 2.