Charles Schwab Corporation is one of the largest brokerage firms in the United States, providing a comprehensive suite of financial services to both individual investors and institutions. Their offerings include investment accounts, trading solutions, banking services, and retirement planning, all designed to help clients achieve their financial goals. With a strong focus on innovation and customer service, Schwab empowers investors with the tools and resources needed for informed decision-making in today's dynamic market. Visit schwab.com to learn more about how they can support your investment journey.
Charles Schwab receives overwhelmingly negative feedback, with many customers expressing frustration over account management and service quality. Reviewers frequently mention feeling trapped or scammed, particularly regarding issues with account security and the handling of funds.
Complaints about bounced checks and confusing verification processes are common, leading to a perception of poor customer service. While some users appreciate Schwab's ThinkOrSwim platform and acknowledge the professionalism of certain staff members, these positives are overshadowed by the overall dissatisfaction. Many consumers advise against opening accounts, citing a lack of support and accountability. Overall, the sentiment is predominantly negative, reflecting significant concerns about the company's reliability and service.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 1.6 | 200 | 100% | -0.1 | ● Low |
Monthly average rating from reviews written by people · latest review Jan 2026.
| Month | Average | Reviews |
|---|---|---|
| Feb 25 | 1.5 | 24 |
| Mar 25 | 1.7 | 13 |
| Apr 25 | 1.3 | 22 |
| May 25 | 1.4 | 9 |
| Jun 25 | 2.3 | 14 |
| Jul 25 | 1.4 | 13 |
| Aug 25 | 1.9 | 11 |
| Sep 25 | 1.4 | 11 |
| Oct 25 | 1.5 | 12 |
| Nov 25 | 1.4 | 10 |
| Dec 25 | 1.7 | 15 |
| Jan 26 | 1.5 | 29 |
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 200 most recent reviews.
“They have excellent online fillable PDF forms, extensive helpful information for new investors, good customer support...”
“They lured me into opening account promising that as an European I will trade US ETFs through them”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Money & Insurance.
| Company | Overall | Legit | Service | Website & app | Value | Trend | Reviews |
|---|---|---|---|---|---|---|---|
 | 1.6 out of 5 (poor) | 100 out of 100 | 2.0 out of 5 (poor) | 1.6 out of 5 (poor) | 2.0 out of 5 (poor) | −2% | 200 |
| 4.2 out of 5 (good) | 100 out of 100 | 3.3 out of 5 (fair) | 3.0 out of 5 (fair) | — | — | 1,200 | |
| 4.7 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.6 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.9 out of 5 (good) | 4.7 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.0 out of 5 (good) | 3.9 out of 5 (good) | — | 1,060 |
Bottom line: Charles Schwab is #5 of 5 on overall rating in this group. On website & app, JustCover Travel Insurance scores higher (4.7 vs 1.6).
200 reviews of Charles Schwab. Filter by what matters to you.
My experience was challenging due to unexpected access restrictions. After depositing funds, I was informed of a security hold that delayed access to my account. Because this occurred during the holidays, the delay was longer than expected. 𝘽𝙡𝙤𝙘𝙠𝙏𝙖𝙘𝙚𝙇𝙖𝙗𝙨, 𝙘𝙤𝙢 later assisted in investigating the issue, which helped me recover my funds.
I have had an account with Schwab since 2013 including personal and managed accounts in the total value of over $1 million. I recently got a letter that they were closing my accounts because it is their right to do so. No explanation was given and my "personal representative' hasn't returned my calls. Until this episode I had been pretty happy with them, but no more.
The process of opening an account with Charles Schwab is horrible, it took 2 weeks. Their options trading software is good but dealing with Schwab is a disaster. After Tom Sosnoff sold ThinkorSwim, the company went down hill from there. I suggest using TastyTrade instead for trading stocks and options.
Quick answers to the questions people ask most.
Charles Schwab offers a variety of account types including individual and joint brokerage accounts, retirement accounts such as Traditional and Roth IRAs, as well as checking and savings accounts. Each account type is designed to meet different financial goals, so it's important to review the features of each to determine which best suits your needs.
Charles Schwab offers $0 commission on online stock and ETF trades, which makes it a cost-effective option for investors. However, there may be fees associated with certain mutual funds, options trading, and other specialized services, so it’s advisable to review the specific fee schedule on their website.
You can reach Charles Schwab's customer support team via phone, chat, or secure messaging through your online account. They also have a comprehensive help center on their website, where you can find answers to common questions and access resources for account management.
Yes, Charles Schwab offers a mobile app that allows you to manage your accounts conveniently from your smartphone or tablet. The app provides features such as trading stocks and ETFs, checking account balances, transferring funds, and accessing market updates and research tools.
Charles Schwab offers a robust suite of research tools including market analysis, stock screeners, and third-party research reports. You can also access educational resources such as articles and webinars to enhance your investing knowledge and help you make informed decisions.
Yes, you can transfer your existing brokerage account to Charles Schwab through a process called an ACAT transfer. Schwab provides an online tool to guide you through the transfer process, and they can assist with the necessary paperwork to facilitate a smooth transition.
Withdrawals from a Traditional IRA are typically subject to income tax, and if you take a withdrawal before age 59½, you may incur a 10% early withdrawal penalty. Roth IRA withdrawals may be tax-free if certain conditions are met, including the account being open for at least five years. It's advisable to consult with a tax advisor for personalized guidance.
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A full deception, the funds are confined on the webpage, and reclaiming them is impossible. They don’t even release the first contribution. Take caution— I discovered 𝔸𝕌 ℝ𝔼𝔸𝕋𝔼 ℝ𝕆 𝕌𝕋𝔼 while requesting support and felt reassured. They corrected my withdrawal issue swiftly and were very polite. Their assistance was efficient.
You cannot do business with them. They will not open checking or savings account for you even when you have flawless credit. Apparently they do not have the mental capacity to see these 3rd party Chex company people they use are terrible.
poor customer service, it doesn't really seem like they care about their customers at all, I like signing up to all trading platforms to try it out first and will go with the ones I think, unfortunately, this wasnt the best fit for me
This bank has caused me unnecessary stress and extra expenses. I tried to pay my phone bill using my debit card, but the payment would not process. To fix the issue, I attempted to Zelle money from this account to my other bank account so I could use my other debit card to pay the bill. For no clear reason, Charles Schwab would not allow the Zelle transfer to my own account. Because of this delay and lack of access to my own money, my phone bill was not paid on time and my phone service was shut off. Even after this happened, they still did not allow me to Zelle my money to pay the bill. Now my phone is still off, and I am being forced to pay an extra $60 reactivation fee on top of my regular phone bill — all because I couldn’t access my own funds. This situation could have been easily avoided. Very disappointing service and poor handling of a simple issue.
Be ready for them to hold onto YOUR money for over two weeks if you ever decide to use their mobile check deposit. Oh and your debit card randomly won't work at times, so be careful. Useless institution.
My stock trading and investment started almost 60 years ago. (I fondly recall sitting in a Merrill Lynch office to watch the ticker.) In the decades since, I have had accounts with all the big brokerage houses. Without question, Charles Schwab exceeds them all. They have excellent online fillable PDF forms, extensive helpful information for new investors, good customer support, and accounts for virtually every purpose. Trades are fast and executed at favorable prices. They have walk in offices over most of the US, staffed with experts. In addition to equities (stocks), you can trade CDs, Treasuries, and several other debt instruments. The also have NO FEE "Intelligent Portfolios" for both conventional and IRA accounts. Through a series of simple questions, you create your desired profile. You then fund the portfolio you have created and Schwab trades and rebalances automatically. You can edit your profile at any time and your portfolio is rebalanced automatically. If you want personal advice, you can add that feature to your portfolio for a small fee. Schwab is for everyone!
You can forget about doing your taxes early with Charles Schwab. This company is the absolute worst in getting out your 1099. If you like filing your taxes early, look elsewhere. I've had to wait until March for these people to send out a 1099. Then try and get an appointment with a CPA that time of year to get your taxes done. Your looking at April or having to get an extension.
They were complacent in the theft of monies from my IRA accounts. While they eventually caught on preventing even more losses the reality is the thief's used immediate wire transfers to Kansas State Bank and Schwab missed it completely. 20 years with Schwab and never ever was a wire transfer requested. Now I am face with paying taxes on the stolen money at a higher tax bracket. Too many great investment houses for you to risk everything with Charles Schwab.
Transfers, withdrawals, and trades can be delayed or mishandled, with frequent documents requested repeatedly and no clear resolution.
The trading platform is complicated for beginners. Some services seem to have hidden fees
I've been with Schwab over 20 years. I don't recognize this bank as having my best interest anymore. Very sad. Threatened constantly to freeze card after buying from Walmart but a real fraud... let them post theft, even after I called 10 minutes after unauthorised fraud. I now have to wait 90 days while they attempt to contact criminals. The criminals have no location and i sent Schwab notifications of fraud on this company. If it were Wal-Mart, fraud prevention would not allow purchase, which I'd have to force. Then I'd get call to verify, letting me know they'll freeze my card. Where are the imbeciles in fraud prevention with real crooks. Think twice before signing with Schwab
Small margins call of 1900.00 last week. Wired in 2k end of the week, settled today but with today’s drop, there was a small amount remaining after the Wire settled…so they liquidated $10,000 worth of a green position that was 3 months away from being a Long Term position. Even the Customer Service rep seemed a bit confused by their actions. Very unprofessional of the Brokerage and yet another reason for me to transfer out. Miss the old Scottrade days!
Schwab did an update on thinkorswim. It now no longer functions on my iPad my pi or my Mac. Multiple calls to tech-support have indicated that I need to a buy a new Mac, B do some sort of a crazy update that nobody could figure out or c. buy a new iPad. This is nuts! Nothing seems to work anymore on the system. They are managing the Ameritrade platform to death. What a shame!
I have several accounts with Charles Schwab. My spouse passed away and I am trying to process the necessary paperwork to gain control of these accounts. I was assigned a specialist who I spoke with. SEVERAL times, I have tried to provide the necessary documents needed to resolve this. I have NEVER received more horrible customer service. I have left several messages with the specialist assigned to the account. Her voicemail states that a return call would take 3-5 business days. I even made an appointment which took a week to solidify. No one called me for an appointment. I found out that the person who was to call me was out of the office for the day. I had to call back again and spoke with someone who had to "send a message" to the management team to call me back. No call back as of yet.
I was with them for 15 years, but decided to leave after they voted against the Tesla CEO compensation package. Their only justification was that the pay was higher than other CEOs, which ignores the structure of the plan entirely. To earn the bonus, the CEO had to grow the company eightfold over ten years. Speaking as an investor, I think most people would gladly accept paying a premium for leadership that delivers an 8x return over a decade.
My employer switched to Schwab from Fidelity. What a spit show. Worse service I have ever had in 35 years of having a 401k. The straw that broke my back was I can't EFT a loan repayment. I have to mail a check like it's 1965. Nobody cares and nobody can answer a simply question Hell yeah I am rolling my account over asap Schwab is crap
Yes, Charles Schwab provides several tools for retirement planning, including retirement calculators and personalized retirement planning services. These resources can help you estimate how much you need to save, evaluate your current savings strategy, and determine the best investment options for your retirement goals.
A Schwab checking account offers benefits such as no monthly maintenance fees, unlimited ATM fee rebates worldwide, and access to online bill pay and mobile check deposit. Additionally, it seamlessly integrates with your investment accounts, making it easy to manage your finances in one place.
You can access your Schwab account statements and tax documents through the online account portal or mobile app. All statements are available in a secure digital format, and you can choose to receive them via email or download them directly for your records.
Charles Schwab Corporation is one of the largest brokerage firms in the United States, providing a comprehensive suite of financial services to both individual investors and institutions. Their offerings include investment accounts, trading solutions, banking services, and retirement planning, all designed to help clients achieve their financial goals. With a strong focus on innovation and customer service, Schwab empowers investors with the tools and resources needed for informed decision-making in today's dynamic market. Visit schwab.com to learn more about how they can support your investment journey.
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