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Charles Schwab Logo

Summary

Recommended for investors and traders looking for solid research, low fees and great customer service

Charles Schwab was founded in 1971 and it is a US discount broker listed on the New York Stock Exchange.

It is regulated by several top-tier financial authorities, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Financial Conduct Authority (FCA).

Overall Rating
4.8
Fees
4.0
Account opening
5.0
Deposit and withdrawal
2.0
Trading platform
4.0
Markets and products
3.0
Research
5.0
Customer service
5.0
Education
3.0

Charles Schwab pros and cons

Charles Schwab offers free stock and ETF trading. Its research is high-quality and covers a lot of tools, including trading ideas and detailed fundamental data. The customer support team gives fast and relevant answers.

Charles Schwab charges high fees for some mutual funds. You can only trade with assets available on US exchanges. The educational platform is not well-structured.

Pros Cons
Free stock and ETF trading High fees for some mutual funds
Outstanding research Product selection covers only the US market
Great customer service Not well-structured educational platform
Charles Schwab main features and highlights
🗺️ Country of regulation USA, UK, Hong Kong, Singapore
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond, Options, Futures
Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this review

Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Charles Schwab review
Fees

4.0
Charles Schwab offers free stock and ETF trading, while some mutual funds and bonds are also free. Non-trading fees are also low. On the negative side, the fees for some mutual funds are quite high.
Pros Cons
Low non-trading fees High fees for non-free mutual funds
Free stock and ETF trading
Some mutual funds and bonds are free
Charles Schwab fees snapshot
Assets Fee level Fee terms
US stock Low Free stock and ETF trading
EURUSD - Not available
Mutual fund High $49.5 for buying and selling is free; there are also ~4,000 free mutual funds
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked Charles Schwab's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

In the sections below, you will find the most relevant fees of Charles Schwab for each asset class. For example, in the case of stock investing, commissions are the most important fees.

We also compared Charles Schwab's fees with those of two similar brokers we selected, Interactive Brokers and Chase You Invest. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Charles Schwab alternatives.

To have a clear overview of Charles Schwab, let's start with the trading fees.

Charles Schwab trading fees

Charles Schwab trading fees are low. The fee structure is transparent and easy to understand. 

Stock fees and ETF fees

The commission for all Charles Schwab stocks and ETFs is free which is superb

Charles Schwab stock and ETF commission of a $2,000 trade
  Charles Schwab Interactive Brokers Chase You Invest
US stock $0.0 $1.0 $3.0

If you prefer stock trading on margin or short sale, you should check Charles Schwab financing rates.

A financing rate, or margin rate, is charged when you trade on margin or short a stock. This basically means that you borrow money or stocks from your broker to trade. For this borrowed money/stock you have to pay an interest. This is the financing rate. It can be a significant proportion of your trading costs.

Charles Schwab annual financing rates for stocks, futures and options
  Charles Schwab Interactive Brokers Chase You Invest
USD margin rate 9.3% 3.4% -

The financing rates above are also applied for the options and futures trading.

Charles Schwab's financing rate is volume-tiered. It applies a base rate plus a premium depending on the financed amount. Here is a table to show the financing rates:

Charles Schwab annual financing rates
Debit balance Rate% Base rate + / -
$250,000 - $499,999 7.575% Base rate +0.075%
$100,000 - $249,999 7.825% Base rate +0.325%
$50,000 - $99,999 7.875% Base rate +0.375%
$25,000 - $49,999 8.825% Base rate +1.325%
$0 - $24,999 9.325% Base rate +1.825%

Fund fees

Charles Schwab fund fees are high in general. It charges only for opening a position, closing the position is free of charge. In our comparison table, we halved Charles Schwab's fee to be comparable with the other brokers, which charge both for opening and closing a position.

Charles Schwab commission for a $2,000 fund purchase
  Charles Schwab Interactive Brokers Chase You Invest
Mutual fund $24.8 $15.0 $0.0

The fee for a mutual fund is $49.5 per purchase. It is a big plus that Charles Schwab offers ~4,000 mutual funds which are free to trade. However, if you sell these free funds within 90 days after the purchase, the $49.5 fee is charged for the sale.

Bond fees

Charles Schwab has generally low bond fees. The bond fees vary based on the bond type you buy. We calculated with the fees for Treasury bonds.

Charles Schwab commission of a $10,000 government bond trade
  Charles Schwab Interactive Brokers Chase You Invest
US Treasury bond $0.0 $5.0 $10.0

There is no commission for Treasury bonds. For other bonds, like corporate bonds, the commission is $1 per bond with a $10 minimum and $250 maximum. 

Options fees

Charles Schwab options fees are low, $0.65 per contract.

Charles Schwab stock index options commission of 10 contracts
  Charles Schwab Interactive Brokers Chase You Invest
US stock index options $6.5 $7.0 $10.5

Futures fees

Charles Schwab futures fees are low compared to all the brokers we have reviewed, but higher than IB's futures fee.

Charles Schwab stock index futures commission of 10 contracts
  Charles Schwab Interactive Brokers Chase You Invest
US stock index futures $15.0 $8.5 -

Non-trading fees

Charles Schwab has low non-trading fees. It charges no inactivity and account fees.

There is no withdrawal fee if you use ACH transfer. The withdrawals to other banks using wire transfer cost $25. 

Charles Schwab non-trading fees
  Charles Schwab Interactive Brokers Chase You Invest
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

Charles Schwab review
Account opening

5.0
Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. If you open an account outside the US, there is a $25,000 minimum deposit.
Pros Cons
Fast For non-US clients $25,000 minimum deposit
Fully digital
No minimum deposit

Can you open an account?

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Charles Schwab is a US discount broker primarily targeting US clients. There are more than 40 other countries where Charles Schwab is available. Just to mention a few: United Kingdom, Germany, Australia, China, Hong Kong, India, Malaysia, Singapore, United Arab Emirates, etc.

The offered services can vary in different countries. For example, clients from the UK and Hong Kong can't trade with futures or mutual funds, only stock, ETF, options, and bonds are provided.

What is the minimum deposit at Charles Schwab?

The required Charles Schwab minimum deposit is different for US and non-US clients:

  • $0 for US clients
  • $25,000 for non-US clients, which is very high

If you would like to use Charles Intelligent Portfolios, you shall have a $5,000 minimum account balance even if you are a US resident. At Charles Intelligent Portfolios Premium, the minimum is $25,000.

Account types

Charles Schwab has many types of accounts:

Charles Schwab account types
Account type Short description
Brokerage Individual Account Account is owned and used by a single individual
Brokerage Joint Account Account is owned and used by two or more individuals
Corporate Account Account is owned and used by a legal entity
Trust Account Account is held by a Trustee (separate legal entity) for your benefit

Roth IRA Account

Traditional IRA Account

Rollover IRA Account

Individual retirement accounts which are only available for US clients

Schwab Intelligent Portfolios

Schwab Intelligent Portfolios Premium

Robo-advisor accounts which are only available for US clients
Schwab Charitable Account Tax-efficient account for a charitable giving, but available only in the US

In this review, we tested the Brokerage Individual Account.

How to open your account

The account opening is user-friendly, fully digital, and fast. It took 1 day for us. This simplicity and speed is not usual for US brokers, we liked it a lot.

Steps at Charles Schwab to open an account:

  1. Choose the account type
  2. Add personal information, like Social Security Number, residency, and your employment status
  3. Set account features, like adding margin or options trading
  4. Acknowledge the terms and conditions
  5. Verify your identity by uploading ID or driver's license

The online application took roughly 20 minutes and the account was verified the next day.

If you want to trade with futures, you have to make a separate registration as well.

Charles Schwab review - Account opening

Charles Schwab review
Deposit and withdrawal

2.0
Transferring money is easy and user-friendly at Charles Schwab and there is no deposit fee. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee High fee for wire (bank transfer) withdrawals
User-friendly

Deposit fees and options

Charles Schwab charges no deposit fees. US clients can use check, ACH, and wire transfers for deposit. For clients outside the US, only wire transfer is offered.

Unfortunately, credit/debit cards and electronic wallets are not provided. This is similar to its competitors.

Charles Schwab deposit options
  Charles Schwab Interactive Brokers Chase You Invest
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No

We tested the ACH transfer and it took 2 business days.

You can only deposit money from accounts which are in your name.

Charles Schwab review - Deposit and withdrawal - Deposit

Charles Schwab withdrawal fees and options

Charles Schwab charges no withdrawal fees if you use ACH withdrawal, but wire transfers cost $25.

Charles Schwab withdrawal fees and options
  Charles Schwab Interactive Brokers Chase You Invest
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Charles Schwab? We tested the ACH withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Charles Schwab?

  • Log into the account
  • Go to the "Transfers & Payments"
  • Select the withdrawal method you want to use
  • Select your Charles Schwab account as "Transfer from"
  • Select the account you want to withdraw the money to as "Transfer to"
  • Add the amount you wish to withdraw
  • Initiate the withdrawal

Compare to other brokers

Charles Schwab review
Web trading platform

4.0
Charles Schwab offers a good web-based trading platform with a clean design. On the flip side, there is no two-step (safer) login and the platform is not customizable.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report Limited customizability (for charts, workspace)
Price alerts
Order confirmation
Charles Schwab platforms to choose from
Trading platform Score Available
Web 4 / 5 stars Yes
Mobile 4 / 5 stars Yes
Desktop 4 / 5 stars Yes

Charles Schwab has three trading platforms which differ in the tradable products and the devices the platforms are offered for:

Charles Schwab trading platforms
  Schwab.com StreetSmart Edge StreetSmart Central
Best for Investors looking for easy execution Traders looking for sophisticated research Futures traders looking for sophisticated research
Tradable products Stock, ETF, fund, bond, options Stock, ETF, options, futures Stock, ETF, options, futures
Web trading platform offered Yes Yes (cloud-based platform) Yes
Mobile trading platform offered Yes No Yes
Desktop trading platform offered No Yes No

In this review, we tested the Schwab.com web trading platform. This trading platform is available in English.

Look and feel

The Charles Schwab web trading platform is user-friendly and has a nice design. On the negative side, it is not customizable.

Charles Schwab review - Web trading platform

Login and security

Charles Schwab provides only a one-step login authentication. A two-step login would be much secure.

When you first log in on a new device, you have to register the new device, ie. laptop, phone, etc. During the registration, you get a code via text, email or phone and with this code, you can register your new device. After the registration, you can access your account using your regular ID and password combo.

Search functions

The search functions are OK. You can search by typing both a company's name or asset's ticker.

However, the search results are not fully relevant. For example, when we searched for Apple, it appeared only in the third place.

Charles Schwab review - Web trading platform - Search

Placing orders

You can use the following basic order types:

  • Market
  • Limit
  • Stop
  • Stop Limit

To get a better understanding of these terms, read this overview of order types.

There are also order time limits you can use, including more sophisticated ones:

  • Good 'til canceled (GTC)
  • Good 'til end of the day (GTD)
  • Immediate or Cancel (IOC)
  • Fill or Kill (FOK)
  • All or Nothing (AON)

Charles Schwab review - Web trading platform - Order panel

Alerts and notifications

You can set a wide range of alerts. From price alerts to research alerts, you will find a lot of alert types.

You can get notifications via email and SMS. If you downloaded the mobile trading app, you can also set mobile push notifications. 

The alerts can be found in the Services/Alerts section.

Portfolio and fee reports

Charles Schwab has clear portfolio and fee reports. They can be found in the Accounts section. 

You can download the reports, but only in CSV.

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Charles Schwab review
Mobile trading platform

4.0
Charles Schwab offers a great mobile trading platform with order confirmation and biometric login. In functionalities and design, it is very similar to the web trading platform.
Pros Cons
User-friendly No two-step (safer) login
Touch/Face ID login No price alerts
Order confirmation

This table shows which platforms are available for mobile devices at Charles Schwab.

In this review, we tested Charles Schwab.com mobile trading platform. It is available both on iOS and Android. We tested it on Android.

In functionalities and design, it is very similar to the web trading platform. It offers the same order types, has the same search functions, and offers only one-step login.

The major difference is that you can't set alerts. It would be much easier if you could set mobile push notifications not only on the web trading platform but the mobile one as well.

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Charles Schwab review
Desktop trading platform

4.0
Charles Schwab has a great desktop trading platform. It is highly customizable, offers many order types, and has a clear fee report. On the negative side, it is available only for Windows and two-step login, which would be safer, is not provided.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) Only for Windows
Good variety of order types

In this table, we summarized which platform is available for the different devices. StreetSmart Edge is the only available desktop-based trading platform.

If you want to download StreetSmart Edge, first you have to call Charles Schwab's customer support team. We liked that they offered a free demo.

StreetSmart Edge is available only for Windows. If you have a Mac, you can use StreetSmart Edge's web trading platform which is in the cloud.

The platform is available in English.

Look and feel

The Charles Schwab desktop trading platform is well-designed and highly customizable.

On the negative side, when you click on a tab, it loads slowly.

Charles Schwab review - Desktop trading platform

Login and security

Similarly to the web and mobile trading platforms, StreetSmart Edge provides only a one-step login. A two-step login would be more secure.

Search functions

The search functions are OK. You can search for an asset by typing its name or ticker. However, the search results are not fully relevant. For example, when you search for Apple, it appears only in the third place.

Charles Schwab review - Desktop trading platform - Search

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Stop
  • Stop Limit
  • Trailing Stop

To get a better understanding of these terms, read this overview of order types.

There are also sophisticated features, like selecting if you want to add order on Smart/Pre Market/After Market. You can also select conditions, like First In First Out,  Last In First Out, High Cost, etc.

You can choose from many order time limits:

  • Good 'til canceled (GTC)
  • Good 'til end of the day (GTD)
  • Immediate or Cancel (IOC)
  • Fill or Kill (FOK)
  • All or Nothing (AON)

Charles Schwab review - Desktop trading platform - Order panel

Alerts and notifications

You can set alerts on StreetSmart Edge. There are fewer alert options than on the web trading platform, but both price alerts and order confirmations are available.

The alerts can be found on the Account details/Alerts section.

Portfolio and fee reports

StreetSmart Edge has clear portfolio and fee reports. 

They can be found in the Account details section. You can also export these reports in XLS, TXT, and CSV formats.

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Charles Schwab review
Markets and products

3.0
At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. Unfortunately, the product portfolio covers only US exchanges.
Charles Schwab asset classes
  Charles Schwab Interactive Brokers Chase You Invest
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex No Yes No
Fund Yes Yes Yes
Bond Yes Yes Yes
Options Yes Yes No
Futures Yes Yes No
CFD No Yes No
Crypto No Yes No

Charles Schwab has a wide selection of funds and bonds. The range of options and futures are average, while it lags behind its competitors in terms of its' stock and ETF selection.

The offered products can vary country by country. For example, UK and Hong Kong clients can only trade with stocks, ETFs, options, and bonds. The mutual funds and futures are not provided.

Stocks and ETFs

Charles Schwab covers only the US markets. The stock and ETF selection is almost the same as at Chase You Invest but lags behind Interactive Brokers. 

You can trade with stocks on the following stock exchanges: NYSE, NYSE MKT, NASDAQ, and OTC.

Charles Schwab stock and ETF selection
  Charles Schwab Interactive Brokers Chase You Invest
Stock markets (#) 4 78 3
ETFs (#) 2,300 13,000 2,000

Funds

The range of mutual funds is great, it even beats Interactive Brokers.

You will find funds from the biggest fund providers like BlackRock or Vanguard and from smaller ones too.

Charles Schwab mutual fund selection
  Charles Schwab Interactive Brokers Chase You Invest
Fund providers (#) 600 257 60

Bonds

Charles Schwab has a wide bond selection. You have access to both government and corporate bonds.

Charles Schwab bond selection
  Charles Schwab Interactive Brokers Chase You Invest
Bonds (#) 60,000 72,900 22,000

Options

Compared to its competitors Charles Schwab offers an average range of options. It lags behind Interactive Brokers which covers exchanges all over the world.

The following exchanges are available: BATS, BOX, C2, CBOE, EDGX, MIAX, MPRL, and EMLD.

Charles Schwab options selection
  Charles Schwab Interactive Brokers Chase You Invest
Options markets (#) 8 33 -

Futures

Similarly to options, the selection of futures is average as well. It is less than Interactive Brokers' selection which gives access to many smaller exchanges.

You can trade with futures on the following exchanges: CBOT, CFE, CME, ICE, MGE, NYMEX, COMEX, and EUREX.

Charles Schwab futures selection
  Charles Schwab Interactive Brokers Chase You Invest
Futures markets (#) 8 32 -

Schwab Intelligent Portfolios

Charles Schwab offers a robo-advisory service, called Schwab Intelligent Portfolios. It is great if you need an automated solution to manage your investments.

First, you have to answer questions about your investment goal, risk tolerance, and time horizon. Based on your answers, a portfolio is created and the robo-advisor will automatically rebalance the portfolio when needed. There is a $5,000 minimum amount to start Schwab Intelligent Portfolios and there is no commission charged for this service.

If you choose Schwab Intelligent Portfolios Premium, in addition, you will get guidance from a personal financial expert. The minimum to start this premium account is $25,000 and there is also a $300 one-time fee. After this, a $30 per month fee is charged.

Charles Schwab review - Schwab Intelligent Portfolios

Charles Schwab review
Research

5.0
Charles Schwab has great research tools including trading ideas and detailed fundamental data but it's hard to navigate on the web trading platform due to the diversity of research tools.
Pros Cons
Good interactive chart Hard to navigate among research tools
Data on asset fundamentals
Trading ideas for stocks and ETFs

Except for the charting tools, we tested the research tools on the web trading platform. We tested the charting tool on the desktop trading platform as it seemed better than other platforms' charting tools.

In general, the research tools are great, but due to the diversity of the research tools, sometimes we felt lost on the web trading platform. Charles Schwab will likely solve this problem with its redesigned research page. It is now at a beta version, but we took a look at it and seemed much easier to navigate.

Similarly to the trading platforms, the research tools are available only in English.

Trading ideas

Charles Schwab provides trading ideas for stocks and ETFs.

The trading ideas for stocks can be found at Ratings and Reports sections. Ratings section gives you an idea to buy, hold, or sell the given stock. This idea is based on Schwab's own rating model. At the reports, you can find very detailed analysis from Schwab's own research team and also from third-parties, like Morningstar.

You can find trading ideas for ETFs at the Opinions/Analysis section. These ideas are provided by Market Edge Second Opinion, a third-party company.

Charles Schwab review - Research - Recommendations

Fundamental data

Charles Schwab offers a wide range of fundamental data. You will find endless data for different assets, from stocks to funds. Just to mention a few of them, you can see the financial statement for 6 years, peer group companies, dividend calendar, etc.

Charles Schwab review - Research - Fundamental data

Charting

Charles Schwab has good charting tools. You can easily edit the charts. There are 56 technical indicators which might be enough but this amount is lower than what you'll find at some competitors.

Charles Schwab review - Research - Charting

News feed

The news feed is OK. It is easily readable but lacks visual elements, like charts or pictures. It is provided by third-parties, like Reuters and Briefing.com.

Other research tools you will enjoy

There are great and sophisticated screeners for stocks, ETFs, and mutual funds. This is one of the most sophisticated screener tools we have tested. From the basic company information to technical indicators, you can use a wide range of filters.

Charles Schwab review - Research - Screeners

Compare research pros and cons

Charles Schwab review
Customer service

5.0
Charles Schwab has great customer service. They are available 24/7 and give fast and relevant answers. On the negative side, email support is not provided.
Pros Cons
Phone support No email support
Live chat
Fast response time

You can contact Charles Schwab in English via:

  • live chat
  • telephone

Charles Schwab has a fast live chat and the relevancy of the answers was OK.

The customer support via phone was very kind and gave relevant answers. The response time was OK as an agent was connected within a few minutes.

It is also a big plus that Charles Schwab support team is available 24/7.

Charles Schwab review - Customer Service

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Charles Schwab review
Education

3.0
Charles Schwab offers a bunch of good quality videos and articles. We missed the demo account and the educational contents are not well-structured.
Pros Cons
Trading platform tutorial No demo account
Educational videos Not well-structured

At Charles Schwab you can learn in the following ways:

  • Platform tutorial videos
  • General educational videos
  • Webinars
  • Quality educational articles

We really liked the webinars. There are a lot of online webinars, roughly 4-5 per day, and they cover a lot of topics, from stock trading to options trading.

On the negative side, the educational contents are not well-structured and hard to find. There are educational tools on the web trading platform's Learning Section, on the website's Education section, and also in the FAQs. They should be integrated into one page.Charles Schwab review - Education

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Charles Schwab review
Safety

Charles Schwab is regulated by top-tier regulators, like the SEC and the FCA. You are also protected by a high investor protection amount, $500,000 with a $250,000 limit for cash. On the flip side, negative balance protection is not provided.
Pros Cons
Majority of clients belong to a top-tier financial authority No negative balance protection
High level of investor protection
Banking background

Is Charles Schwab regulated?

Yes, it is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), the Financial Conduct Authority (FCA) and the Hong Kong Securities and Futures Commission and Monetary Authority of Singapore (MAS).

Charles Schwab is based in USA and was founded in 1971.

Is Charles Schwab safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Charles Schwab operates several legal entities globally, but all customers are covered by the US investor protection scheme, called SIPC. This is because Charles Schwab & Co., Inc., the US legal entity, holds the assets on behalf of other legal entities.

The SIPC investor protection scheme protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. This amount is substantially higher than the amount most investor protection schemes provide. 

Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual fund and other investment company shares, and other registered securities. It does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, currency, and interests in gold, silver, or other commodity futures contracts or commodity options.

For summarizing the different regulators, legal entities, investor protection amounts, we compiled this handy table:

Charles Schwab investor protection and legal entities
Country of clients Protection amount Regulator Legal entity
USA clients except for UK, Hong Kong, and Singapore SIPC: $500,000 ($250,000 cash limit)

Securities and Exchange Commission (SEC)

Financial Industry Regulatory Authority (FINRA)

Charles Schwab & Co., Inc.
UK SIPC: $500,000 ($250,000 cash limit) Financial Conduct Authority (FCA) Charles Schwab, U.K., Limited
Hong Kong SIPC: $500,000 ($250,000 cash limit) Hong Kong Securities and Futures Commission Charles Schwab, Hong Kong, Ltd.
Singapore SIPC: $500,000 ($250,000 cash limit) Monetary Authority of Singapore (MAS) Charles Schwab Singapore Pte. Ltd.
Clients trading with futures No protection Commodity Futures Trading Commission (CFTC) Charles Schwab Futures, Inc.

Charles Schwab does not provide negative balance protection

Background

Charles Schwab was established in 1971. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Charles Schwab has a banking license, and as such, it is subject to tougher regulations than brokers.

It is also listed on the New York Stock Exchange, which is a big plus for safety as Charles Schwab releases financial statements regularly and transparently.

Having a banking license, being listed on a stock exchange, providing financial statements, and being regulated by a top-tier regulator are all great signs for Charles Schwab's safety.

Find your safe broker

Charles Schwab review
Bottom line

Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.

Reflecting the wave of introducing commission-free trading at the end of 2019, Charles Schwab charges no commission for stock and ETF tradesIts research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It charges high fees for some mutual funds and the product portfolio covers only US markets. Lastly, the educational platform is not well-structured. 

As the trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try it.

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