Charles SchwabReviews of schwab.com

Last 4 times I tried clin schwab.placed on hold for hours.call back stated one hour.two and 1/2 later I get a call and of course they do nothing I lost money all four times.

Tried placing an options trade this morning. Kept on getting "incorrect symbol" for a straightforward FCX Feb 19 26 call trade. Tried executing on two apps via my iphone, then on a desktop app. No success anywhere. Then tried calling schwab. Put on interminable hold. Communicating with Schwab would work better with two tin cans connected by a string. They are an AWFUL broker.

Schwab quit processing trades online this morning and there was no one available to provide any information. All they told me was to try again later. Schwab hung up on me when I called their main line. They said it would take over 30 minutes to do a text chat. The person assigned to service my account had a recorded message.

My husband has always had excellent service with Charles Schwab, so I decided to rollover two accounts to them. Over a month ago, I started the process by trying to contact our local Charles Schwab office, but it was closed down, and the main Charles Schwab switchboard told me to go to an office in our neighboring town. After repeated, unsuccessful calls to reach that office, it was finally discovered by Charles Schwab that the second office is also closed, so there are no offices in our large metropolitan area; the only recourse is their national number. Then TWO representatives told me to FAX my Vanguard rollover check to them for next-day processing. Finally, a third representative expressed surprise at the fax directions as financial institutions must have the actual check to proceed, so he instructed me to mail the check, which I did via certified mail. Now, two weeks later, another representative can confirm that the checks were received, but that they are "trying to see where they're at." The other rollover has been just as problematic. I was first told to upload my paperwork to my account portal, then later that I should send it in. Today I learned that rollover check was "coded to the wrong name and it will take 10-45 days for that error to be corrected." Almost a month ago, two of their reps told me that my checks should be in my account by the following day. This company seems to have major internal issues, so beware.

First off, I probably should have known that Schwab would be problematic. When opening my account, they lost my check. After over a month of customer service calls, I had to cancel and send a new check. Another time I used them, after deciding which investments to choose, I placed an order (the night before). When I went to check on them the next evening, I realized that Schwab will freeze purchases until they finish executing trades- which takes longer than expected. They placed this freeze because the stock price went up a few cents after I submitted my trade and Schwab purchased the stock. Instead of purchasing one less or notifying me before restricting my account they created a very difficult trading environment. By the way- the difference was a $1. The annoying thing is that all of this is over a dollar and/or their failure to let me know of an issue. Some places value their customers and don't push them aside without communication.

I bought investments on this site based on the schwab rating system. All of this was done in consultation with my schwab designated advisor. I lost 10% on these investments in a year the indexes were up. The schwab rating system is faulty and thier advisors are not competent with regards to selecting investments.

Longest wait time on customer service ever. Tried for weeks to get an operator to unlock our companies 401k. Switch to Fidelity.

I have been a client with Schwab for 4 years now. If you are doing everything online, they seem to be fine, a platform just like any other. However, if you need to speak to a representative on the phone for whatever reason, it is impossible. You get a recording of the news repeating over and over again while you wait for what could be up to an hour. They do not have a call back system. They do not even have a chat service for existing clients. The chat service is only if you are a new customer trying to open an account. They should take care of their existing clients before trying to sign up more. I have had problems with my account on time sensitive issues and been kept on hold for so long that I finally give up and hang up. They do not even give an estimate of how long your wait time could be. If you are an active trader, they will cost you a lot of money because you may have problems with your account, and you will not be able to reach anyone to resolve the issue in a timely manner for a trade. On several occasions I have not been able to trade on the online platform when I wanted to because something would be wrong with the account, and then you are on hold for ages trying to speak to someone. It does not matter what phone number you call on. I have tried every phone number there is, in the UK and in the US. Toll-free and non-toll free. There is no use.