Most brokerages offer 24/7 phone support, and Schwab is no exception. The low expenses on ETFs and index funds make Schwab especially compelling for investors looking to diversify their portfolios.Ĭustomer service is where Schwab really stands out. Market cap ETFs range from 0.03% to 0.07% in expenses, while Schwab’s index funds have similar expense ratios from 0.03% to 0.06%, expenses that are lower than Vanguard, the leader in index investing.
Schwab’s index funds andĮTFs come with some of the lowest expense ratios in the industry, and Schwab has either stopped offering or waived the cost on funds that carry loads.įor ETFs and index funds, Schwab charges $0 commission, and currently has the industry’s lowest expense ratios. Options trades are also competitively priced at 65 cents per contract. Schwab lowered its commission for stock and ETF trades from $8.95 to $0 in response to pressure from competitors. Schwab does charge a $50 fee to close an account, but since there are no low balance nor inactivity fees, leaving an empty account open is a viable option. Some brokers also charge fees if your account is inactive for too long, but this isn’t the case at Schwab. There is no fee for a low balance and no annual fee to keep the account open. Schwab doesn’t charge any account fees to its customers. The company also recently removed all minimums from its index funds, so you can invest in these no-commission, low-expense funds without a large balance. This $1,000 minimum can be waived in certain instances, including setting up an automatic transfer of $100 every month upon account opening. While you can technically open the account with less than $1,000, you won’t be able to submit any transactions. In order to trade on a Schwab brokerage account, you’ll need $1,000+ to invest. Schwab also offers margin loans that provide flexible cash for heavy trading or personal needs.Ĭharles Schwab Fees, Commissions, Expenses, and Minimums These products also come with specialized support and investor education so you can make smart decisions about options and futures investing. On the other hand, Schwab’s index and target date funds are best-in-class in terms of operating expense ratio, and they offer a low-risk way for investors to diversify their portfolio.įor advanced investors, Schwab offers options and futures trading. The ETF Select List offers recommendations on the best funds in certain categories, and you can sort the list by expense ratio, Morningstar rating, or category. ETFs are also on offer through Schwab ETF OneSource, and online ETF transactions are not charged commission. In addition to equities and bonds, Schwab offers over 3,000 mutual funds with no transaction fees and no load. Bonds and other fixed income products are also available through Schwab’s brokerage interface. On the international front, Schwab gives you access to stocks in 35 countries listed on more than 60 stock exchanges.
Domestic stocks enjoy quick execution of trades at a low commission. They offer domestic and international stocks, including the research and data to evaluate stock opportunities. What Types of Investments are Available at Schwab? Taken together, these factors should put Schwab near the top of any potential investor’s list. You can call, chat, or email a helpful, personable customer service agent at any time. Schwab’s biggest advantage, though, is their customer service. Compared to other brokers like Fidelity and TD Ameritrade, Charles Schwab brokerage offers a broad spectrum of investments, low trade fees, and excellent order execution. Charles Schwab has earned its reputation as one of the best brokers in the business.
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