Reviews Trading Apps
- By Lucien Bechard
- Updated April 2, 2024
8 min read
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Considering fees & commissions keep changing, you’ll want to read this Charles Schwab Review. Let’s take a look at the pioneer of the discount brokerage business. We’ll cover the primary considerations self-directed investors look for in an online broker. In fact, in this Charles Schwab review, brokerage accounts have long been popular with long-term investors for good reason. This San Francisco-based publicly traded company (NYSE: SCHW) has existed since the early ’70s.
SCHW stock chart by TradingView
Best Trading Companies
The Bullish Bears Team created a list of the best trading companies and brokers. Our reviews give detailed breakdowns of the positives and negatives of each based on your trading style.
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Table of Contents
- Charles Schwab Broker Review Introduction
- Is Charles Schwab Good for Beginners?
- Not the Right Broker for Forex
- Charles Schwab Fees and Pricing Review
- Charles Schwab News
- Final Thoughts: Charles Schwab Review
- People Also Search For
- Frequently Asked Questions
Charles Schwab Broker Review Introduction
As a new trader, one of your first decisions is which broker to open an account with. Experienced traders may consider switching brokers to save on fees and commissions. Or simply for a more adequate trading platform. Hence, our Charles Schwab review.
Fortunately, there are many well-established, trustworthy brokers to choose from. Charles Schwab is undoubtedly one of them. They’re a leader in the online brokerage world.
Let’s find answers to the commonly asked questions about Schwab. What is Charles Schwab about? How much money do you need to open an account? Does Schwab have hidden fees?
Platforms & Tools
OptionsXpress: In 2011, Charles Schwab acquired optionsXpress. It’s now fully integrated with the CS platform. As the name implies, optionsXpress is an electronic trading platform specializing in options trading.
Options Traders enjoy easy-order entries from the former optionsXpress all-in-one trade ticket. The ‘Probability Calculator’ is another great tool. This makes it easy to analyze potential positions.
Schwab Intelligent Portfolios &Schwab Intelligent Advisory: In 2015, Charles Schwab launched a “Robo-advisor” service. It provides algorithm-driven financial planning with little human supervision. If you don’t believe an AIrobot can do a better job than a human, Schwab also offers discounted advisory services.
StreetSmart Edge (desktop-based) and StreetSmart Central (web-based): A new trading platform will always be confusing and overwhelming, particularly to new-day traders. Even if you’ve been using trading software for a while, switching to a new one has its learning curve.
However, the essentialtools needed are the same from one trading interface to another. StreetSmart Edge’s ease of use may surprise you. What you display on your screen is also significantly based on your preferences.
A good platform should allow you to customize it as you see fit. Charles Schwab StreetSmart Edge station is no exception. The interface looked clear and clean (seriously, their charts look so “crisp” on all time frames). Let’s continue with our Charles Schwab review.
COURSE |  |  |  |
|---|---|---|---|
| DESCRIPTION | Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action | Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading | How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading |
| INCLUDED | Daily watch lists • Trade rooms • Trading scanners • Discord • Live streaming Day Trading > | Daily watch lists • Trade rooms • Options scanners • Discord • Live streaming Options > | Futures target levels • Trade rooms • Real time teaching • Discord • Live streaming Futures > |
Is Charles Schwab Good for Beginners?
Charles Schwab is a good broker for beginners, but traders are waiting with bated breath to see what happens with their takeover of TD Ameritrade. We will see if their takeover of the ThinkorSwim platform will make them one of the industry’s best brokers and become the future trading broker.
Today, it’s one of the largest banks in the United States and one of the largest brokerage firms. A Charles Schwab Brokerage Account is an attractive option for short-term traders.
Mobile trading apps like Robinhood andWebull offer commission-free trades. As a result, traditional brokers have to compete in more ways than just slashing fees. Charles Schwab has excellent customer service with over 300 local branches in 46 states. Also, it offers value-added services and incentives targeting retail traders. For example:
- No minimum for funding your account — Schwab eliminated this requirement fora retail brokerage account.
- You can buy an extensive list of mutual funds and ETFs without paying transaction fees and commissions.
- It can be your online bank with ATM access from around the world.
- Ability to trade stocks in a dozen foreign markets.
In this Charles Schwab review, a Schwab brokerage account isn’t the same as a Schwab bank account. Schwab Intelligent Portfolios invest in Schwab ETFs. Cash deposits held at Schwab Bank are FDIC-insured. However, brokerage products such as ETFs, stocks, bonds, mutual funds, and money market funds are not FDIC-insured.
Charles Schwab ($SCHW) Stock Rover Research Report 3/24
TOS & TWS
If you’re familiar withThinkorSwim(TOS) from TD Ameritrade or the Trader Workstation (TWS) from Interactive Brokers, you may find the Charles Schwab StreetSmart Edge desktop software simpler. It has fewer features than TWS and misses the advanced technical indicators of TOS.
However, most trading pros will tell you that they strive for simplicity. You’ll find all the basics you’ll probably ever need to succeed in Charles Schwab’s StreetSmart Edge. Take a look at this Schwab trading tools demo.
Not the Right Broker for Forex
The Charles Schwab brokerage account does have its limits. For example, there is no Forex trading at this time. Some customization options have limits compared to other programs. The mobile app doesn’t support some advanced order types. However, that’s true for many mobile trading apps.
For social sentiment, stick to applications like StockTwits andTwitter. The learning center may be confusing for new traders as well. However, I’m biased toward Bullish Bears trading courses.
We focus on giving our community members a clear, realistic, affordable education. The goal is to help shorten the learning curve while avoiding the stock market pitfalls. Other Charles Schwab reviews say they aren’t good for forex.
Charles Schwab Fees and Pricing Review
- Charles Schwab fees: Zero stock, ETFand options commissions
- $0 – $5 service charge for automated phone trades
- $0 – $25 service chart for broker-assisted trades
- $.65 per options contract
- $1.50 per contract forfuturesand futures options
Like many of its peers in recent years, Schwab has been aggressively slashing fees to compete with brokers like E*Trade, Fidelity, and TD Ameritrade. In the past year alone, Schwab’s online equity trade commissions went from $8.95 to $6.95. Now they are free. Check out a list of the toptrading companies.
Charles Schwab ($SCHW) TipRanks Stock Forecast Report 3/24
Charles Schwab Trustpilot, BBB Rating & Accreditation
Charles Schwab has a 1.6/5 star rating out of 289 ratings on Trustpilot. Charles Schwab has a 1.49/5 star rating, averaging 57 reviews with the Better Business Bureau (BBB). They have an A+ rating.
Final Thoughts: Charles Schwab Review
If you’re shopping for a new broker to switch to, there’s a lot to like about a Charles Schwab Brokerage Account:
- Low commissions – $4.95 per stock.
- No account minimums – (PDT rule still applies)
- Global markets access – with real-time quotes during market hours.
- Excellent customer support – even face-to-face if you live close to one of their 340 branches in the US.
- Free, easy-to-use, well-designed StreetSmart Edge desktop software.
US residents can’t go wrong by opening aCharles Schwab Brokerage Account. They come with a satisfaction guarantee. If you’re not satisfied for any reason, they’ll refund the previous quarter’s program fee.
People Also Search For
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Frequently Asked Questions
How Safe Is My Money With Charles Schwab?
Like any bank, Charles Schwab is insured with FDIC. So you're insured up to $250,000.
How Trustworthy Is Charles Schwab?
A Charles Schwab review found that they have an A+ rating with the Better Business Bureau. They are very trustworthy in the financial world.
Which Is Better Vanguard or Charles Schwab?
Vanguard is good for buy-and-hold investors who might need help. Our Charles Schwab review found that they're great for both investors and traders. They offer many different tools, platforms, and banking capabilities.
How Much Money Do I Need to Start in Charles Schwab?
Charles Schwab doesn't have a minimum investment requirement. Nor do they charge maintenance fees to have an account.
Is Charles Schwab a Reputable Company?
Charles Schwab is one of Bankrate’s top brokers by providing one of the industry’s most comprehensive products. With its integration with TD Ameritrade almost complete, Schwab is set to attract investors of all types.
Charles Schwab’s Stock Price and Symbol: Are They Publicly Traded?
Charles Schwab is a publicly traded company on the New York Stock Exchange (NYSE: SCHW).
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STOCK TRADING SERVICE
Our chat rooms willprovide you with an opportunity to learn how to trade stocks, options, and futures. You’ll see how other members are doing it, share charts, share ideas and gain knowledge.
Our traders support each other with knowledge and feedback. People come here to learn, hang out, practice, trade stocks, and more. Our trade rooms are a great place to get live group mentoring and training.
TRADE ALERTS “SIGNALS”
The Bullish Bears trade alerts include both day trade and swing trade alert signals. These are stocks that we post daily in our Discord for our community members.
These alert signals go along with our stock watch lists. Our watch lists and alert signals are great for your trading education and learning experience.
We want you to see what we see and begin to spot trade setups yourself.
REAL-TIME STOCK ALERTS SERVICE
We also offer real-time stock alerts for those that want to follow our options trades. You have the option to trade stocks instead of going the options trading route if you wish.
Our stock alerts are simple to follow and easy to implement. We post entries and exits.
Also, we provide you with free options courses that teach you how to implement our trades as well.
STOCK TRAINING DOESN’T NEED TO BE HARD
Stock training doesn’t need to be hard. But it sure feels hard when you don’t know where to turn for legitimate knowledge. There are tons of places to learn, but what makes us different?
Well, for starters, we’re just real everyday people who like trade stocks. We’re not gurus portraying a fancy lifestyle of cars and jets and beaches. Can you obtain those things with what we teach you? Sure you can. Is that what motivates us when teaching you how to trade?
Nope. What we really care about is helping you, and seeing you succeed as a trader. We want the everyday person to get the kind of training in the stock market we would have wanted when we started out.
WHY WE’RE DIFFERENT
What else makes us different? When it comes to the stock market, we’ve won, we’ve lost, we’ve lived, and learned. We’ve been through the ups and downs in the market and figured out what really matters. The Charts…Candlesticks = PRICE ACTION! We’ve created a site that passes all this knowledge on to you.
We don’t charge you an arm and a leg for the stock training we give you. We charge a modest amount that goes towards running our day-to-day operations and paying for our invaluable team moderators that are passionate about teaching YOU!
That’s about it. We could charge more, but we have a pay it forward, give back mentality. It’s not about the money. The best and most important thing for us is YOU. We want to feel good about what we do, and the results and reviews speak for themselves.
Those emails we get, the feedback, the success we see. That is what our educational trading community is all about. We hold no secrets back. Our trading edge is your trading edge.
STOCK TRAINING DONE RIGHT
We don’t care what your motivation is to get training in the stock market. If it’s money and wealth for material things, money to travel and build memories, or paying for your child’s education, it’s all good. We know that you’ll walk away from a stronger, more confident, and street-wise trader.
In our stock trading community, you’re going to get it all. Futures, options trading, and stocks. Not just penny stocks either. Small, mid, and large caps. Each day we have several live streamers showing you the ropes, and talking the community though the action.
There’s no catch, no smoke or mirrors. What you see is what you get. If you’re looking to change your life, or someone else’s, we’re here to help you reach that goal. Get started learning day trading, swing trading, options, or futures trading today!
Click Hereto start your 7-day free trial.
TRADING STOCKS IN THE BULLISH BEARS COMMUNITY
Yes, we work hard every day to teach day trading, swing trading, options futures, scalping, and all that fun trading stuff. But we also like to teach you what’s beneath the Foundation of the stock market.
Tell you the TRUTH about how the market works. The importance of controlling your emotions and having a proper mindset when trading. We’re really passionate about teaching you this stuff!
Money isn’t our #1 priority in life. YOU are. Our members come first. Making sure you get comfortable with trading is our priority.
We have members that come from all walks of life and from all over the world. We love the diversity of people, just like we like diversity in trading styles. It creates an environment much like a university or college.
TRADING ROOMS AND LIVE STOCK TRAINING
Each day our team does live streaming where we focus on real-time group mentoring, coaching, and stock training. We teach day trading stocks, options or futures, as well as swing trading. Our live streams are a great way to learn in a real-world environment, without the pressure and noise of trying to do it all yourself or listening to “Talking Heads” on social media or tv.
We will help to challenge your ideas, skills, and perceptions of the stock market. You will learn and grow as a trader. Every day people join our community and we welcome them with open arms. We are much more than just a place to learn how to trade stocks.
Feel free to ask questions of other members of our trading community. The Bullish Bears are a very helpful crew. We realize that everyone was once a new trader and needs help along the way on their trading journey and that’s what we’re here for. To give you a hand up along your trading journey.
Click Hereto try our trading community free for 7 days.
FREE ONLINE TRADING COURSES
If you’ve looked for trading education elsewhere then you’ll notice that it can be very costly.
We are opposed to charging ridiculous amounts to access experience and quality information.
That being said, our website is a great resource for traders or investors of all levels to learn about day trading stocks, futures, and options. Swing trading too!
On our site, you will find thousands of dollars worth of free online trading courses, tutorials, and reviews.
We put all of the tools available to traders to the test and give you first-hand experience in stock trading you won’t find elsewhere.
Our content is packed with the essential knowledge that’s needed to help you to become a successful trader.
It’s important to treat day trading stocks, options, futures, and swing trading like you would with getting a professional degree, a new trade, or starting any new career.
Invest the proper time into your Trading Education and don’t try to run before you learn to crawl. Trading stocks is not a get-rich-quick scheme. It’s not gambling either, though there are people who treat it this way. Don’t be that person!
STOCK TRADING COURSES FOR BEGINNERS
The Bullish Bears team focuses on keeping things as simple as possible in our online trading courses and chat rooms. We provide our members with courses of all different trading levels and topics.
If you’re a beginner, intermediate level, or looking for expert trading knowledge…we’ve got you covered.
We have a basic stock trading course, swing trading course, 2 day trading courses, 2 options courses, 2 candlesticks courses, and broker courses to help you get started. Free.
Just choose the course level that you’re most interested in and get started on the right path now. Become a leader, not a follower. When you’re ready you can join our chat rooms and access our Next Level training library. No rush. We’re here to help.
Click Hereto take our free courses.
