Scottrade Review

Charles Schwab Promotions

Current 2016 Charles Schwab promotion code/bonus offer incentive. Best Charles Schwab promotions for opening new account for new and existing customers depositing cash into regular brokerage individual/joint account, ROTH IRA, 401K Rollover IRA, or Traditional IRA.

Charles Schwab Promotion:

Charles Schwab Promotion Details:

With a qualifying net deposit of $50,000, earn 300 commission-free online trades.

Offer valid for new clients who do not have a Charles Schwab & Co., Inc. ("Schwab") brokerage account and who open and make a qualifying net deposit into a Schwab retail brokerage account within 45 days of enrollment in the offer. Net deposits are assets deposited into the account minus assets withdrawn from the account and transferred out of Schwab. Only outside assets new to Schwab qualify; assets transferred from affiliates other than Schwab Retirement Plan Services, Inc. and Schwab Retirement Plan Services Company are excluded. Net deposits will be calculated daily, and the trades will be credited to your account within one week of confirmation of your qualifying net deposit. The trades will be applied only to the enrolled account and apply only to base equity, exchange-traded fund (ETF), and options commissions. Options per-contract, foreign transaction, exchange, and regulatory fees still apply. Only trades placed through, Schwab trading platforms, and Schwab Wireless are eligible. Trades will expire 180 days after being credited to your account and will not be applied to previously executed trades. No credit will be given for unexecuted trades.

Please note that Schwab reserves the right to change the offer terms or terminate the offer at any time without notice. This offer is limited to one per account, with no more than one account enrolled per client. It does not apply to brokerage accounts managed by independent investment advisors, the Schwab Global Account™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts. No more than 300 trades per client may be received pursuant to all promotional offers in any 12-month period. This offer is not transferable, saleable, or valid in conjunction with other offers and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Schwab or a Schwab affiliate; or their spouses; and employees of any securities regulatory organization or exchange are not eligible. Schwab may modify or withdraw this offer at any time without notice. Other restrictions may apply. Any taxes related to the offer are your responsibility.

Top Brokerage Firms:
  • Up to $2,000 bonus at Scottrade
  • 60 days of free trades and $4.95 per stock or ETF trade at OptionsHouse
  • Best rated customer service and $4.95 per trade at TradeKing
  • 50 free trades promotion at USAA

Charles Schwab Review and Rating:

4-star brokerage firm rating

Trading Tools

Schwab offers trading by automated phone system, on-line, and with a live broker. As with most low-cost brokers, the cheapest option is trading on-line. The web site is simple and easy to learn. New traders should have no problem in this category.

Schwab’s advanced trading platforms, called StreetSmart Edge, is available free of charge to qualified Active Trader clients (36 trades or more per year) although less-frequent traders have reported receiving the platform at no cost.


Schwab has actual brick-and-mortar branches, which could come in handy for a noobie. Some of Schwab’s competitors, such as Firstrade and OptionsHouse, don’t have local branches.


Schwab’s standard commission of $8.95 is higher than some its rivals, such as Fidelity ($7.95) and Scottrade ($7). Their initial funding requirement of $1,000 could be a real turn off to those who don’t need a checking account. Other brokers such as TradeKing and Firstrade have no minimum initial deposit and no checking account requirement.

StreetSmart Edge does have a demo log-in where investors can view the platform and place mock trades. Unfortunately, the demo platform maintains a zero balance, which prevents customers from being able to track gains and losses in a practice account. OptionsHouse, for example, offers a virtual account that starts traders with a $100,000 balance. The balance can also be reset.

Two other Schwab competitors, TD Ameritrade and Optionsexpress, offer virtual platforms, and they have no monthly account fees.


Schwab offers some good benefits to first-time investors, but they might want to check out a different broker for better virtual trading.

Updated on 3/1/2016.

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