Charles Schwab app
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
In this article we'll check whether Charles Schwab's mobile app ticks all the boxes.
Overall, we rate the user-friendliness of the app as better than average.
| Charles Schwab | E*TRADE | Fidelity | |
|---|---|---|---|
| Mobile app rating (5 is the best) | 4.2 stars | 4.5 stars | 5.0 stars |
| User-friendliness | Great | Great | Great |
| 2-step authentication | Yes | No | Yes |
| Biometric authentication | Yes | Yes | Yes |
We're going to take a closer look at search functions, price alerts and order types, so all the little details that determine whether a trading app is user-friendly or downright cumbersome. If you want to read our full review, including fees, deposit options and other platforms (like web and desktop) then skip to the Charles Schwab review.
Charles Schwab app
Our main checklist for the Charles Schwab app
Let's start with the search functions. Although most brokers do OK in this area, there are some bad apples out there. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
Charles Schwab could improve in this area, but it might be OK for general use.
| Charles Schwab | E*TRADE | Fidelity | |
|---|---|---|---|
| Search functions | Mid-range | Great | Great |
| 2-step authentication | Yes | No | Yes |
| Biometric authentication | Yes | Yes | Yes |
| Price alerts in the app | No | Yes | Yes |
| Confirmation after successful trade | Yes | Yes | Yes |
You cannot set price alerts in the Charles Schwab app. Yes, you can use a third-party app for this, but wouldn't it be much easier to have it in the broker's own app?
Charles Schwab app
Checklist for nice-to-have features
For some people it might be a deal-breaker if you can't set up a trailing stop limit - we totally get that. Others couldn't care less and also don't get excited if the app is available in 25 languages. Anyway, here is our checklist of minor, nice-to-have features:
Charles Schwab has these order types available in its app: Market, Limit, Stop, Stop Limit.
At Charles Schwab you can use the following order terms & expiry in the app: Good 'til canceled (GTC), Good 'til end of the day (GTD), Immediate or Cancel (IOC), Fill or Kill (FOK), All or Nothing (AON).
The Charles Schwab mobile app currently supports the following languages: English.
Charles Schwab app
The BC Award-winning brokers
Still unsure about your broker selection? Click here to see which free stock trading apps are the best.
Or you could take a peek at the best trading platform awards we gave to brokers serving European clients.
If you're not in the US or the EU you'll find this award the most interesting.
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