Charles Schwab Review 2012
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Charles Schwab Trading Commissions
- $8.95 per stock/etf trade
- Options: $8.95 plus $0.75 per contract
- Mutual funds: $49.95
Charles Schwab Important Fees and Surcharges
- Mutual Fund Short-Term Redemption: $49.99
- Failure to maintain required minimum balance in certain Schwab Proprietary Non- Sweep Money Funds, including SVAI (check prospectus for minimum balance requirements): $10 per redemption $5 per month
- Transfer (out) of assets: Full - $50 per account, Partial $25 per account
Charles Schwab Pros
- Top-notch customer service
- Only $1,000 to open account
- Banking services
- 300 local offices
- No maintenance, IRA or hidden fees
Charles Schwab Cons
- Higher than average commissions
Charles Schwab Account Types
- Brokerage Accounts
- Schwab One® Brokerage Account
- Schwab One Organization Account
- Bank Checking plus Brokerage
- Individual Retirement Accounts (IRA)
- Traditional IRA
- Roth IRA
- Rollover IRA
- Inherited IRA
- Custodial IRA
- Small Business Retirement Plans
- Individual 401(k)
- SEP-IRA
- Personal Defined Benefit Plan
- Profit-sharing Plan
- SIMPLE IRA
- Business 401(k) Plan
- Company Retirement Account
- Schwab Personal Choice Retirement Account® (PCRA)
- Estate Planning Accounts
- Schwab One Estate Account
- Schwab One Trust Account
- Charitable Gift Account
- College Savings Accounts
- Schwab 529 College Savings
- Plan
- Education Savings Account
- Custodial Account
Charles Schwab Review
Charles Schwab's commissions on all asset classes are higher than average among online stock brokers. The firm does not charge IRA fees,
account maintenance fees and surcharges. Minimum to open cash account is $1,000.
Charles Schwab is well known for offering one of the best customer services among discount brokerage firms (your commissions are buying it).
Company also attracts clients with 300 local branches and banking services.
Charles Schwab's website and trading tools are far behind most of the companies we have reviewed.
A lot of Charles Schwab's customers are happy with their brokerage. However, they tend to trade very infrequently, so higher costs
are not affecting them that much (well, until one adds them up over the years). With other highly rated stock broker firms offering
$4-$7 trades, we don't see any compelling reasons to open account at Charles.
Charles Schwab Promotional Code
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