Charles Schwab Reviews 727

This is a scam company, countless issues upon issues and I contacted their customer care yet kept on being postponed with this excuse and that excuse was even told to deposit more. I found an article on Quora and it helped me alot.

I can see that most other reviewers share my low opinion of Schwab. I had just been subjected to an "authentication" test which I failed! As a result I was locked out of my own account. Fact 1: all my answers to the silly questions were correct. I happen to possess an exceptional memory. 2. to lock one out of one's own account is simply criminal. 3. I am delighted to pull my money out of Schwab and deposit it in a place where representatives of the so called customer service are not enslaved by an inordinate number of unacceptable rules. Happy to divorce Schwab. Tomorrow I am going in person to effect separation. I only regret not doing it much sooner. Frankly, there are countless financial companies happy to "keep" you money (you gain a little, they gain a lot). Schwab is merely one of many and one that I emphatically do not recommend. Thank you.

I am a TD Ameritrade customer. I live in Japan. I used to easily move money back and forth from my margin account to my US bank account. My equity per cent is currently 56% but it will not allow me to withdraw. I called Schwab and they told me to call back because the department I needed wasn’t open. I called back and they put me on hold for several minutes and when they got back on, they said it’s because I am an international account. So I asked them what per cent do I need to be able to withdraw and they said they didn’t know. I said is it 100% and they answered PROBABLY. So I don’t know how I can even get hold of my own money.

Horrible company and industry designed to keep the little guy down. 25k PDT rule. 4-5 day hold on funds after deposit. Even for clients who are known to have cleared funds over and over, they still hold funds 4-5 days for every cash deposit. Horrible company, horrible trading industry designed to keep the little guy down and out and the big guys well fed with opportunities. I will close my account and never participate in this industry ever again. I don't need it in my life. I don't need this industry at all to have a good life.

trying to make an in-service normal withdraw from my 100% vested 401k, they told me there is a 10 day waiting / hold period just access my own money.
Trans America was 48 hours and the funds were in my bank. Schwab needs to get with the program before they are on the outside looking in. I would dump them if it was my choice unfortunately it is not...

I transferred my IRA from Merrill with a promise of an incentive bonus. The transfer itself was a nightmare with errors/omissions in the lot details and cost, but primarily with their response times.
The time by which my bonus was supposed to be paid had come and gone, and again, they won't respond to my inquiries. This company sucks!!! SCHAAAAWB!

The most popular trading tool, ThinkorSwim (TOS) is a complicated and difficult software with too many mostly cumbersome options for each task. I have been using it since Tom created it decades ago (before Ameritrade bought it), and I still have issues with it. Managing multiple charts and editing Watchlists are the most ridiculously difficult tasks.
Customer service has voice recognition but they only use it if they are not busy. If they are busy you have to go though a lengthily identification process. So, chances are that you have to go through the long process when you really need help.

Wow came here to check the reviews before invested , glad I did I won't be going near Charles Schwab clearly a bunch of con artists

On desktop when making a trade with a limit, the limit price placed in the trade window is terribly priced. Either on a sell or a buy order the spread between the actual trading price and the Schwab given price is too far out of line to be a fair trade. My account was absorbed from Ameritrade and the quality and professionalism is completely absent from Schwab. They are not a reliable or trustworthy trading agency. Bottom line is number one for this company. Their bottom line not their customers.

Schwab is just TRYING to be Ameritrade, they know they haven't the entire skillset to do so. They even have trouble reconciling an accounts weekly option transaction results in a timely manner. Takes them a long time to remove expired trades, credit assignments and clean the portfolio up to get it accurate after the week ends.

Very greedy set of people a͏l͏l͏ t͏h͏e͏y͏ c͏a͏r͏e͏d͏ a͏b͏o͏u͏t͏ w͏a͏s͏ g͏e͏t͏t͏i͏n͏g͏ m͏o͏r͏e͏ d͏e͏p͏o͏s͏i͏t͏s͏ f͏r͏o͏m͏ m͏e͏ b͏u͏t͏ w͏h͏e͏n͏ t͏h͏e͏ t͏i͏m͏e͏ c͏a͏m͏e͏ f͏o͏r͏ w͏i͏t͏h͏d͏r͏a͏w͏a͏l͏. T͏h͏e͏y͏ n͏e͏v͏e͏r͏ a͏l͏l͏o͏w͏e͏d͏. T͏h͏i͏s͏ c͏a͏u͏s͏e͏d͏ m͏e͏ t͏o͏ r͏e͏p͏o͏r͏t͏ t͏h͏e͏m͏ t͏o͏ s͏o͏t͏e͏r͏i͏gu͏a͏r͏d͏ b͏e͏f͏o͏r͏e͏ m͏y͏ p͏a͏y͏m͏e͏n͏t͏ g͏o͏t͏ p͏r͏o͏c͏e͏s͏s͏e͏d͏.

There is a new video this week in the oval office showing Donald Trump bragging about Charles Schwab, the actual PERSON, not the company, allegedly making over 900 million from the market manipulation that has transpired this week (APR 14-18). All this as regular Americans, including their (prospective) clients, are in fear of losing their retirement, incurring unprecedented taxes/cost due to the tariffs, and the rising cost of everyday items. I will never do business with this company.

It really sucks. When I registered the account, I was having w8 Ben, but now I am not. It withheld me a lot of money. I invested in CD, for example, for 10000 dollars, they withheld 2400 dollars . But the internet is at most 4.5 percent.It withdraws my principal. I contacted many times which lasts for several months, no solution was made. Then, I sold my bond, it also withheld me more than 20 percent. If I invest , this will definitely a loss to me. Also, I contacted them so many times and even went to the branch in person, no solution made, only withdraw you money

I tried to open a Roth twice with Schwab only to speak to customer service so they would tell me they would have to MAIL me documents to open an account. What is this 1965? When I questioned him why couldn't he just go through with me online he was very sarcastic. So I had to tell him he just wasn't in the mood to help and it seems to be the norm for this customer service. Oh well, I will just go with another broker.

It takes years for Swab to adjust a custodial account to reflect a child reached maturity. I never would trust Slop again.

Stay away at all costs!

They stole $400k when one of their overnight brokers screwed up an order and they are refusing to let me listen to the call. Lawsuit here we come!

27+ year trader and this is the worst brokerage ever. I was an ameritrade account holder. Schwab purchased ameritrade. Multiple times I had sent funds of 190k to credit into my account and, although they located it, they could not credit and sent it back multiple times. They could not even push forward a simple wire. This company is inept and caused me to lose over 100k due to their lack of ability to take care of customers. Highly recommend finding another brokerage if you want to make money and work with an efficient broker. I will be moving my money to another. I am a CEO myself and value my customers better and it's a shame they don't listen to their customers, or find ways of resolution, to better their process. They are losing a long time day trader and past loyal customer (more of ameritrade as I would never recommend Schwab!!).

They deserve minus stars. Martin Smith, a supervisor in the Indianapolis office said he would credit my account for $1200 because of an error I made in a trade causing me to lose a larger amount of money. The credit was not issued in my account.

I only buy stocks when downturns happen. Last Friday I put 10,000 in my swab account, it's Wednesday and I still don't have access to my money. Good buying options will be gone when I finally get my money.

I am highly disappointed by what I've experienced with this company. They are unreliable and you will find it difficult to get your money out from them. Please, stay away from them if you don't want to lose your money. I've stayed with PAIVA. The experience is different because I've been getting my payout without any issues.