Schwab Global Account: Highlights
• Traders at Schwab can buy and sell stocks on some foreign exchanges using the broker’s Global Account.
• It’s also possible to trade foreign stocks inside a regular brokerage account at Schwab.
• Transactions of foreign stocks at Schwab do have commissions.
Overview of Global Trading at Schwab
Charles Schwab offers trading in foreign securities through multiple channels. Generally, these can be divided into two broad categories: a regular brokerage account or its Global Account. As the name suggests, the latter is designed for customers who want to trade foreign stocks, although it’s usually possible to trade such securities through a standard brokerage account, albeit not necessarily at the same price or in the same currency.
That’s where Schwab’s Global Account differs from a normal brokerage account. Trades in the Global Account are settled in the local currency rather than U.S. dollars. For example, a purchase of a Japanese equity on the Tokyo market will settle in Japanese yen rather than U.S. dollars, which would be the settlement currency in a standard brokerage account. Also, the commission on the trade will be different.
Schwab Global Account Features
Through its Global Account, Schwab offers trading in
more than 30 countries, and the Global Account itself offers online trading in 12 foreign markets using 8 local currencies. Here are some examples:
- Hong Kong Stock Exchange
- Toronto Stock Exchange
- Tokyo Stock Exchange
- Oslo Stock Exchange
- London Stock Exchange
Trades on any of these exchanges can be placed online, which makes them more economical than submitting them over the phone with a live representative, which is the only method available to regular brokerage customers for foreign-exchange trades outside Canada. Currency conversions, which are necessary for these international trades, also can be conducted online.
Positions and transactions show up in a Global Account’s online portal, and Schwab delivers a great deal of foreign-stock research on its site. There is an international stock screener that can look for securities using more than 30 criteria across a variety of sectors and geographic regions. Roughly 4,000 foreign stocks have Schwab Equity Ratings International® coverage. Trade recommendations and grades on an A through F scale are available through Schwab’s research tools.
Margin trading is not available in the Global Account, a notable downside.
Opening the Schwab Global Account
The only method that can be used to open a Global Account at Schwab is to fill out a paper form, print it off, sign it, and return it to the brokerage firm in either digital or paper format. There is no online application, although the application can be downloaded from the Global Account site. It is a fillable form, so it can be saved for later completion and submission.
The Global Account is available in individual and joint modes, and some trust accounts may be eligible as exceptions. Schwab limits eligibility to U.S. citizens residing in the United States.
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Funding a Schwab Global Account
Once opened, a Global Account can be funded in one of several ways. Money can be transferred in real time from an associated Schwab One account. Funds can also be moved into it from an external account or another Schwab account. Wire deposits are also available.
Customer Service
Schwab has a Global Account desk with agents who specialize in international investing. The department’s number is 800-992-4685. This division can help customers with all sorts of global-investing issues, including trade placement at an additional cost over simple online trading.
Schwab Global Account Fees and Minimums
Schwab imposes no account minimum on the Global Account, and it has no recurring fees of any kind, so it’s easy to open one or keep it going. Trading, though, is a different story.
Commissions are assessed on trades, and these trading fees vary by exchange. Here are a few examples:
| Currency | Online Trade | Broker-Assisted |
|---|
| Norwegian krone | kr160 | kr400 |
| Japanese yen | ¥2000 | ¥6000 |
| Euro | €19 | €50 |
In addition to the trades themselves, Schwab charges for converting U.S. dollars into the currency needed to place the trades. The currency-conversion schedule is on a tiered system:
| Amount | Fee |
|---|
| $1,000,000 or more | 0.2% |
| $500,000–$999,999 | 0.3% |
| $250,000–$499,999 | 0.5% |
| $100,000–$249,999 | 0.75% |
| Under $100,000 | 1.0% |
Despite the rather uncomfortable prices, the Global Account may very well present a cheaper alternative than foreign trading in a regular brokerage account with Schwab. There, foreign ordinary shares placed directly on a foreign exchange require broker assistance and cost the greater of $100 or 0.75% of principal, with no maximum.
Notably, it is possible to score a price lower than what a Global Account will charge. For example, online trades of U.S.-listed American Depositary Receipts (ADRs) are free. Online trades of foreign ordinary shares in the over-the-counter (OTC) marketplace cost $50 per trade. And Canadian stocks are $6.95 each online.
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Updated on 4/2/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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