Charles SchwabReviews of schwab.com

I hate Charles Schwab, the customer service are horrible and their system is trash. As a whole a trash company

I was with TD Ameritrade for years. The integration with Schwab has been nothing but a nightmare. I had to open another account in 2024 and was denied the level to be able to trade spreads for Options multiple time even though I had authorization previously. I then closed my account shortly after. 1 year later Im wanting to use TOS for demo trades and I filled out an application, only for the account to be denied due to "business decisions"... What does that even mean?? I rarely leave reviews but this was a waste of my time and it's been a terrible experience.

6 months of getting jerked around to open a Trust account. Never happened. Fill out application and they say it is wrong. Fix it. Still wrong. Fix something else. Now want more items sent. Sent them. They send emails asking for same thing 10 or 12 times. Every 2 weeks. Then finally gather info and then ask for more. Want entire Trust which Trust lawyer says no. Privacy issue. Finally say what was sent is OK. One more thing. Provide it. Get another email asking for what had been resolved. Then send email after 6 months of this to say application has expired and do it all over again (all 17 pages). And send original Trust. Avoid this company.

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...