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Charles Schwab

San Francisco, USA · Regulated

☆ 0.0 · 0 reviews

About Charles Schwab

Charles Schwab is one of the largest US brokerages, founded in 1971, managing $9+ trillion in client assets. Schwab pioneered discount brokerage and now offers zero-commission stock and ETF trading, $0 minimum balance, and an industry-leading checking account with unlimited ATM fee rebates worldwide. The acquisition of TD Ameritrade in 2020 made Schwab the dominant retail broker in the US. It offers a full suite: stocks, ETFs, options ($0.65/contract), futures, mutual funds, bonds, and managed portfolios (Schwab Intelligent Portfolios). Thinkorswim — the power platform from TD Ameritrade — is now part of Schwab, providing institutional-grade charting.

Pros

+$9T in client assets — one of the world's largest
+Zero commission on stocks, ETFs, and options ($0.65/contract)
+Thinkorswim: professional-grade trading platform
+Unlimited ATM fee rebates worldwide with Schwab Bank
+No minimum balance requirements
+Excellent customer support — 24/7 phone + 400+ branches

Cons

-OTC and foreign stock fees apply
-Thinkorswim integration still rolling out to all accounts
-Cash sweep rates low vs competitors
-Margin rates higher than IBKR (11–13%)

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