Charles Schwab Promotions, Offers and Codes 2021

Current $500 Charles Schwab promotion, offer code, and cash bonus incentive. May 2021 best Charles Schwab promotions for opening new account or for existing customers depositing cash into regular brokerage account, ROTH IRA, or 401K rollover IRA.

Charles Schwab Promotion:

Charles Schwab Promotion Details:

Ally Invest BonusDeposit or Transfer
$500 $100k+
$300 $50k - $99.9k
$200 $25k - $49.9k
$100 $1k - $24.9k

Accounts that are eligible for the Referral Offer include: Schwab retail brokerage accounts and individual retirement accounts (IRAs), including accounts enrolled in Schwab-sponsored investment advisory programs such as Schwab Intelligent Portfolios®, Schwab Managed Portfolios™, Schwab Managed Account Select®, Schwab Managed Account Connection®, and Schwab Private Client™.

You must make the qualifying net deposit in a Schwab One® account. Schwab Bank High Yield Investor Checking® ("HYIC") accounts do not qualify for this promotion whether they are linked to a brokerage or are stand-alone. If you make a deposit in a HYIC account, you will not receive the award. The offer also does not apply to the Schwab Global Account™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, education savings accounts, Schwab Bank accounts, corporate accounts, or accounts managed by independent investment advisors.

You have 45 days from the date you become a new client and enroll in the offer to make a qualifying net deposit; note – you must deposit the qualifying amount in the account that you enrolled with to be eligible.

All rewards are paid out to qualifying clients about 1-2 weeks after the 45 day eligibility period ends, regardless of when you make the deposit (as long as it's in the first 45 days).

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Charles Schwab 500 Free Trades Promotion:

This Charles Schwab's incentive has expired.

Charles Schwab Promotion Details:

This Charles Schwab promotion offer is good for 500 free on-line trades with an eligible net deposit of at least $100,000. The qualifying deposit must be made within 45 days of account opening. Eligible deposits are funds that are transferred into the enrolled account minus any funds withdrawn or transferred out of the new brokerage account. Only funds transferred from outside Schwab qualify for this offer, although transfers from Schwab Retirement Plan Services will be accepted.

The commission-free trades will be credited to the new account within 7 days of verifying the qualifying net deposit. The 500 trades from Charles Schwab Incentives can be used to buy and sell exchange-traded funds (ETF’s) and stocks. They can also be used to pay for option commissions and per-contract fees, with a maximum of 20 contracts per trade. The normal per-contract commission will apply for extra contracts. The Charles Schwab promo code for free trades cannot be used to pay for regulatory and exchange fees or foreign transactions, and they must be placed on Schwab.com, Schwab wireless apps, or other Schwab trading platforms. They cannot be applied to previous trades. The 500 trades Charles Schwab offer code expire 12 months after being credited to the new account, and unused trades have no value.

The broker can change or terminate the rules of this Charles Schwab promo offer at any time, with or without notice. An account can have only one special Schwab offer, with a maximum of one account enrolled per client. A limit of 500 trades may be received per customer in a period of 365 days.

This Charles Schwab promotion offer is not valid for securities accounts that are signed up for an advisory package, managed by independent financial advisors, ERISA-eligible retirement accounts, education savings plans, some tax-qualified retirement accounts, or the Schwab Global Account™. This promotion is not saleable, transferable, or valid when combined with any other special promotions. Only U.S. residents are eligible.

Charles Schwab Overview

If you thought Charles Schwab had high commissions and was just like the other large brokerages, it is definitely time to take another look. Charles Schwab is cutting no corners in its goal to become the best online brokerage firm for both long-term investors and traders. Charles Schwab has lowered their commissions to $0 for stocks and ETFs.

The Best Index ETFs and Mutual Funds in the Business

Charles Schwab isn't only reducing the cost of its account-holders via commissions. Charles Schwab also offers the lowest expense ratio for a total market index ETF and mutual fund in the industry, tying only with iShares. Charles Schwab has lowered expense ratios on all their index funds, which you can trade, commission- free, on their platform. No other competing broker has a lower cost way to invest your money in the broad market. If you are a long term-investor, this is a huge benefit as your money will compound even faster. Note that Charles Schwab doesn't require you to have higher amounts of money to take advantage of the lower expense ratios their mutual funds offer. See below for a partial listing of Charles Schwab's mutual fund offerings. To see the complete listing as well as their ETF comparison, please click here.

Charles Schwab Intelligent Portfolios

Have you ever heard of Betterment or Wealthfront? If you have considering using these robo-advisors, consider Charles Schwab as well. Charles Schwab's Intelligent Portfolios© may not be as well-known among the masses but it is a superior service is on key way – it's free! Charles Schwab Intelligent Portfolios© charge you no management fee or any annual fee. Betterment will charge you .25% of your assets each year. That's $2,500 a year if you have a portfolio of one million dollars! That is on top of what the funds charge via their expense ratios. With Charles Schwab Intelligent Portfolios©, you'll only pay the expense ratios of the funds you are in which are the lowest in the industry. Not to mention, with Charles Schwab Intelligent Portfolios© you can call anytime 24/7 for free support and advisory help. If you're like most people and don't want to spend a lot of time thinking about your investments, this can be a solid choice.

Common Fees

Charles Schwab has adopted the fees of a "discount brokerage" without making the sacrifices associated with discount brokerages. Fees are low across the board, even when you aren't talking about their low $0 trading commission. Charles Schwab has no inactivity fees and no maintenance fees for both regular and retirement accounts. Even their global trading accounts have no annual fees of any kind. Charles Schwab offers over 200 commission-free ETFs from 16 providers.

Charles Schwab is an industry leader in commission-free ETFs as you can see from the above chart. You can easily do all your investing at Charles Schwab for the rest of your life and never pay a fee to Charles Schwab. The only area that has what can be considered a high fee is the purchase of a mutual fund with a transaction fee. That will set you back $49.95. There are over 3,000 no-transaction-fee mutual funds however so finding a no-transaction fee mutual fund shouldn't be an issue. If you ever decide to transfer your account out of Charles Schwab, it will cost you $50 for a full transfer and $25 for a partial transfer.

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Charles Schwab Mutual Fund Commissions

Mutual funds that have a transaction fee at Charles Schwab cost a rather steep $49.95 on the buy side. However, there is no charge for sales or exchanges. A round-trip trade will produce an average commission of $38, which is higher than some other brokers, including Ally Invest ($9.95).

Charles Schwab Mutual Fund Fees

Investors at Schwab have good mutual fund resources. The broker has a very large selection of no-load, no-transaction-fee funds. More than 3,200 in fact carry no charge to trade. This is one of the largest lists of NTF funds in the industry. The broker calls them OneSource funds. They do carry a short-term redemption fee of $49.95 when they are sold less than 90 days after purchase. This policy is in place to discourage short-term trading, which increases a mutual fund's expenses. Remember that Schwab's redemption fee is in addition to any charge levied by the fund itself. Fortunately, there are some exceptions to this fee. All Schwab funds are exempt, although they may charge separate short-term fees. Other funds that are intended to be short-term investments are also exempt.

The Schwab OneSource selection is compiled by the broker's investment professionals and is reviewed quarterly. It is composed of several fund families, including American Century, Credit Suisse, Matthews Asia, and more.

Charles Schwab Partial Shares

Besides the OneSource list, the broker also offers the Income Mutual Fund Select List, which contains funds that offer a regular stream of income. Schwab created the collection for retirees and investors nearing retirement, who need to focus more on consistent income rather than capital appreciation. All of the funds on the Income list also have no load and no transaction fee.

Using an automated phone system for mutual fund trades costs nothing extra at Schwab, although using a live broker tacks on an additional $25. This is more expensive than Firstrade, which charges nothing for broker-assisted orders of load funds and only $10 for no-load funds.

The Schwab mutual fund screener displays more than 5,300 products. They can be sorted by several attributes, including average annual total return, load status, and Sharpe ratio, among others. Search criteria include gross expense ratio, inception date, 30-day SEC yield, and many more.

All mutual funds at Schwab have a minimum investment amount of at least $100, and the majority of them have that exact minimum. Several funds are at $2,500, however; and some funds are as high as $10,000,000. These minimums apply to both regular brokerage accounts and retirement accounts. Subsequent investment amounts can be as low as $1 or as high as $500, depending on the fund.

Charles Schwab Partial Shares Disclaimer

Information on selling and buying partial shares of stock at Charles Schwab is subject to change. For the most recent information on Charles Schwab fractional shares trading charges visit their website.

Charles Schwab Bonus Offers Disclaimer

Current Charles Schwab promo code details to open a new account could change at any time without notice. Read bonus offer details carefully before depositing any money.