Charles Schwab Review 2020 – Pros and Cons Uncovered

Charles Schwab Review 2020 – Pros and Cons Uncovered

Charles Schwab, which ranks as the third-best broker overall this year, is a full-service investment firm that offers services and technology to everyone from self-directed active traders to people who want the guidance of a financial advisor. It has a wide variety of platforms from which to choose, as well as full banking capabilities. Over the last few years, its web-based platforms have been transformed by a group that is dedicated to seeing things through their clients’ eyes and making the platforms simpler to use while also providing low-cost advice.

On October 1st, 2019, Schwab announced that it would eliminate base trading commissions on equities, ETFs, and options in the U.S., effective October 7th. This pricing change has been incorporated into our review and ratings. Schwab has also eliminated commissions for trading penny stocks, which is unusual.

Pros

Advanced options tools and trading ideas are built into the StreetSmart Edge

Mobile web platforms and native mobile apps offer the same functionality

Cons

Some features are divided among different platforms

Push towards using a financial adviser

Interest paid on cash balances is low

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