Charles Schwab Brokerage 2021 Review


Top perks

No commissions for stocks and ETFs

Offering $0 stock and ETF trades, Charles Schwab is one of the least expensive online discount brokers for basic stock and ETF trades. That said, most of the major discount brokers now offer commission-free trading.

No account minimums

Schwab recently eliminated account minimums on its retail brokerage accounts, making it one of the best stock brokers for beginners.

Fractional share investing

Beginner investors will find Schwab’s Stock Slices valuable. All you need is $5 to begin investing in S&P 500 companies with share prices that are much higher.

International access

If you’d like to trade stocks on foreign markets, Schwab can help. It offers trading in more than 30 global markets. Sign up for a Schwab Global Account to be able to trade stocks online in 12 of the top-traded foreign markets, each with real-time quotes during market hours.

Customer service

One advantage of working with Charles Schwab is that it has a branch network of more than 340 locations across the country. It’s one of a handful of discount brokers that offer in-person help when you need it, which is a compelling advantage.

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ETF investing

Schwab offers one of the largest marketplaces for low-cost ETF and index investing, including it’s own line of branded ETFs that rival the lowest cost options in the market.

Mutual fund investing

Similar to ETFs, Schwab has a diverse marketplace for mutual fund investors who are wanting to put their money into the mutual fund of their choosing. In addition to it’s OneSource list of no load, no commission mutual funds, Schwab also offers its own low-cost mutual funds.

Investment account offerings

Schwab offers one of the widest array of account types in the market, from taxable brokerages to IRAs, custodial accounts, trusts, and more.

Banking and cash management

Schwab is truly a one-stop shop for you money needs and it offers banking products such as the Charles Schwab High Yield Investor Checking account, CDs, and credit cards.

Managed portfolios

Schwab Intelligent Portfolio is among the best robo-advisors for passive investors. Further, Schwab offers managed portfolios and access to a network of financial advisors that rivals the biggest names in the market.

Branch access

Customers valuing in-person investing and banking relationships will want to add Schwab to their shortlist.

Fractional share investing

Schwab’s Stock Slices allows investors to buy fractional shares of any S&P 500 stock with as little as $5. This is a great feature for accountholders with lower balances.

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Investment app

Schwab’s mobile app is among the best available from a big brokerage house. It has an iOS rating of 4.8 out of 5 stars. While its Android rating of 3 out of 5 stars is lower than average, our research has found the ratings aren’t aligned with the apps high quality overall. Many brokerage apps are slimmed down, less versatile versions of their online experiences. But Schwab’s apps closely mirror its robust online experience, including for trading, account access and management, banking, and trading platforms.

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