Charles Schwab Promotion:
Charles Schwab Promotion Details:
With a qualifying net deposit of $100,000, earn 500 commission-free online trades. Offer valid for individuals who make a qualifying net deposit into a Charles Schwab & Co. Inc. (“Schwab”) retail brokerage account within 45 days of enrollment in the offer. Net deposits are assets deposited into the enrolled account minus assets withdrawn from the account and transferred out of Schwab. Only assets new to Schwab qualify; assets transferred from affiliates other than Schwab Retirement Plan Services, Inc. and Schwab Retirement Plan Services Company are excluded. The trades will be credited to the enrolled account within approximately one week of confirmation of your qualifying net deposit. Trades apply only to base equity, exchange-traded fund (ETF), and options commissions and options per-contract fees up to 20 contracts per trade (standard per-contract fees apply for additional contracts). Foreign transaction, exchange, and regulatory fees still apply. Only trades placed through Schwab.com, Schwab trading platforms, and Schwab Wireless are eligible. Trades will expire 365 days after being credited to your account and will not be applied to previously executed trades. No credit will be given for unexecuted trades.
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. No more than 500 trades per client may be received pursuant to all promotional offers in any 12-month period. This offer does not apply to brokerage accounts managed by independent investment advisors or enrolled in an advisory service, the Schwab Global Account ™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts. This offer is not transferable, saleable, or valid in conjunction with any other offer 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. Other restrictions may apply. Recent IRS guidance may impact your ability to make more than one IRA to IRA rollover in a one-year period. Any taxes related to the offer are your responsibility.
Charles 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 mastering it.
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 new investors. Some of Schwab’s competitors, such as Firstrade and OptionsHouse, don’t have local
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 account 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 Schwab competitors, TD Ameritrade and
OptionsHouse, 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 7/26/2016.