Charles SchwabReviews of schwab.com

In two years, my retirement account gained 0.21%. If this is not a scam, please tell me what is!

Charles Schwab won't let me have an account with them. And let me trade my brother's account because of something "suspicious". I wouldn't recommend them if you struggle with ADHD and maladaptive behaviors

Charles Schwab that I am providing an opportunity to resolve this matter before I file formal complaints with the SEC and FINRA. Timeline: * June 23: Schwab issued an $87,586 margin call. * June 25: I sold $117,250 of SNDK and transferred $30,000 from my bank. My bank debited the funds that evening, and the Schwab app showed that I was no longer in a Schwab Call, confirming the requirement had been satisfied. * June 26 (2:00 PM): Schwab liquidated my LITE position, causing a $17,000 loss without notice or authorization. The key fact is simple: the $30,000 ACH had already been initiated on June 25 and was scheduled to settle on June 29. Schwab’s own app reflected that I was out of the Schwab Call, yet Schwab liquidated my account on June 26, knowing the funds were already in transit. I called and asked: “Why didn’t you follow FINRA procedures?” Schwab rep said: “You were straight at fed call.” THIS IS GARBAGE. There is NO FINRA procedure called “straight at fed call.” This is MADE UP. This is a LIE. Even IF my account deteriorated to Fed Call level, Schwab STILL had to: 1. NOTIFY me in writing of Fed Call 2. Give me 24-48 hours to respond 3. NOTIFY me before liquidating Schwab did NONE of this. Schwab also failed to provide the required notices before liquidation. Instead, the account was liquidated only three days after the initial margin call. I possess screenshots showing the Schwab Call was satisfied, account statements, trade confirmations, bank records confirming the $30,000 debit on June 25, the ACH settlement date of June 29, and audio recordings of Schwab representatives regarding these events. This follows another incident in May/June, when a Schwab cost-basis error falsely showed a -$100,000 loss, locked my account on margin for several days, charged unnecessary interest, and resulted in an offer of only $250 in compensation. I am demanding: * Reimbursement of the $17,000 liquidation loss. * Compensation for the earlier cost-basis error and margin interest. * Written acknowledgment of the violations. * Corrected tax records. * Written assurance of no retaliation. Deadline: July 11, 2026. If this matter is not resolved by that date, I will file complaints with the SEC, FINRA, and the State Attorney General on July 12, 2026, supported by screenshots, account records, and audio recordings. Charles Schwab has until July 11, 2026 to resolve this matter before it proceeds to regulators.

Schwab is terrible for active options traders. Today I was closed out of an expiring option position at 2:16 central time. No call. No warning. Just a terrible fill. I was sitting there closing things out and suddenly a 40 lot trade is made 45 minutes before the close. WTF. I've been doing this for years. Very responsible. This has NEVER happened before. I'm taking my very active trading elsewhere.

Do everything you can to avoid this broker. The moment you need any service they will not be there for you. I am now experiencing this firsthand.

Garbage broker. Making me wait over a week to use my deposited funds? That’s unacceptable in this day and age. I will be taking my money elsewhere. Schwab ruined TD ameritrade.

I was a long time TD Ameritrade customer until they were acquired by Charles Schwab. My experience with Schwab has been terrible ever since. The do charge fees on stock sales even though they advertise that there are no brokerage fees. This is a change from TD Ameritrade. They also push financial advisor services on their customers through phone calls and scare tactic emails where they warn you about the dangers of how you are invested. They are dishonest about acknowledging that I had been previously contacted by prior advisors at Schwab. The latest one called my spouse initially who is not the primary manager of the accounts and did not reach out to me directly. I have also spent considerable time requesting repeatedly over a half dozen phone calls with them, that they stop sending me their periodical magazine. I don't read it and I would like them to stop creating waste. Each time they acknowledge my request and note that it won't happen again, yet it continues. They cannot be trusted. I wish they had not purchased TD Ameritrade.

Takes too long to reach a representative. Been on hold for over 30 minutes. There is an issue with their app and I cannot place a trade.