Overview
Charles Schwab is one of the biggest US brokers, and since buying TD Ameritrade it also owns the thinkorswim platform. It suits US investors who want everything under one roof, from long-term investing and retirement accounts to active options and futures trading. The main brokerage, Charles Schwab & Co., Inc., is registered with the SEC and is a FINRA member, futures are overseen by the CFTC, and a Singapore arm holds a MAS licence. Non-US residents can open an international account to invest in US markets.
Accounts and costs
There's no minimum to open a brokerage account and no fees to open or keep one. Online trades in US-listed stocks and ETFs cost $0. Options, futures, OTC and broker-assisted trades carry commissions, and Schwab also earns from routing orders and from the cash in your account. You can open IRAs and other retirement accounts, and the Intelligent Portfolios robo-advisor starts at $5,000. Margin borrowing needs at least $2,000 of equity, with 25% maintenance on most securities. Stock Slices lets you start with fractional shares.
Platforms and markets
Everything runs on Schwab's own tools: the website, the Schwab app and thinkorswim. thinkorswim is the pick for active traders, with deep charting, options tools and forex. There's no MetaTrader, cTrader or TradingView. You can trade US stocks and ETFs, including 24/5 trading on over 1,300 names, plus options, futures, bonds and mutual funds. Crypto exposure comes through Bitcoin and Ethereum futures and ETPs.
Money in and out
You fund by bank transfer (ACH), wire or check, and you can move whole accounts from another broker without selling. You can't deposit cash. Withdrawals are free in most cases and usually take about two days.
Good
- $0 online commissions on US stocks and ETFs
- No account minimum and no fees to open or maintain an account
- thinkorswim for advanced charting, options and futures
- Huge product range including bonds, mutual funds and IRAs
- Stock Slices let you buy fractional shares with small amounts
Watch for
- No MetaTrader, cTrader or TradingView
- Options and futures trades carry commissions
- Focused on US markets
- Margin borrowing needs $2,000 in equity
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Brokerage account | None | $0 online listed stock and ETF commissions; options, futures, OTC and broker-assisted trades carry commissions | Margin needs $2,000 equity; 25% maintenance on most securities |
| IRA and other retirement accounts | None | $0 online listed stock and ETF commissions | — |
| International brokerage account (non-US residents) | None | $0 online listed equity commissions on US markets | — |
| Schwab Intelligent Portfolios | $5,000 | Robo-advisor; the Premium version needs $25,000 | — |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer
- Minimum deposit
- None
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
Charles Schwab is one of the largest US brokers, and its review pages tell a different story from its reputation. Trustpilot has about 720 reviews of schwab.com; our evidence does not show its current score, but review sites describe it as leaning heavily negative. Smaller pages are low too: 1.6 on Sitejabber from 40 reviews and 1.8 on SmartCustomer from 35, both partly cluttered with fund-recovery spam. Reddit, where long-time customers gather, is far warmer. Unhappy customers are the ones most likely to post on open review sites, which goes some way to explaining the gap.
What traders like
Customer service, for most. Many Reddit users call Schwab's phone support among the best in the industry, and several say they have been customers for decades without a complaint.
Everything in one place. Banking, brokerage and retirement accounts under one login, with no commissions on US stocks and ETFs, come up often.
thinkorswim. Options and active traders who came over from TD Ameritrade often praise the platform.
Branches. Some value being able to walk into an office.
Common complaints
Accounts restricted without warning. Several Trustpilot and BBB reviewers say their accounts were locked during fraud or security checks, sometimes right after asking to withdraw, and that getting them unlocked took hours on the phone.
Long waits and handoffs. Many low reviews describe long holds and being passed between departments.
The TD Ameritrade move. Some Reddit users forced over in the merger say the platforms and service were a step down.
Cash handling. A few wish Schwab had an automatic sweep into money market funds, as some rivals do.
Withdrawals from retirement accounts. A handful describe repeated trouble taking money out of 401(k) or IRA accounts.
Be wary of pages that promise to fix Schwab withdrawal problems and list phone numbers: several in our evidence are spam and not linked to Schwab.
Recently
No dated reviews from the last 90 days stand out in our evidence.
Where this comes from
Trustpilot: the main review page.
Sitejabber: a small set of reviews.
SmartCustomer: a small set of reviews.
ConsumerAffairs: customer reviews.
Better Business Bureau: customer reviews and complaints.
Forex Peace Army: a stock broker page with little activity.
r/Schwab: the customer subreddit.
Verified reviews
Reviews from traders who've connected an account at Charles Schwab to Chartnaut, so you know they actually traded there. Opening soon.