Great customer service, great resources, mediocre software
I love having Schwab as a backup brokerage for my serious trading accounts. Not only is Schwab customer service exceptional but Schwab brokerages are also fully featured checking accounts. I can snap a picture of a check with my iPhone app and be trading that money right away until I want to use the convenient credit/debt card to spend it (or their transfer services to send it to a dedicated broker).
Any time I've had an issue, I've been able to resolve it very very quickly the first time either in the live-chat-support or with a quick call. *Don't hesitate to call for any request. They have always been enthusiastic about helping and making any exceptions they can for me. When I started trading options years ago with $5k and virtually no income, they made an exception to their qualifications after a discussion with me about my knowledge level and strategy.*
The java-based trading software is probably a decent platform for low volume swing trading and straightforward strategies, the web based platform is useless for active traders, but the free research and resources Schwab offers are excellent. If you want to use Schwab as your primary broker and be an active trader, you should look into getting eSignal to chart and then enter trades on the iPad Schwab app (my typical strategy when I want to trade that account).
Commissions are high-average, but the convenience of integrated banking with all of the auto transfer and bill pay features in a bank that isn't as arrogant as the larger ones (such as BofA) makes this my choice to supplement my Interactive Brokers/eSignal trading.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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