Charles Schwab Paper Trading Virtual Account (2020)

Charles Schwab virtual money trading account. Brokerage StreetSmart Edge demo simulation platform to practice trading for stocks, ETFs and options.

Important Update

Charles Schwab does not offer paper trading (also known as simulated, practice or virtual trading) service (not even on its StreetSmart Edge platform). For a free virtual trading go to Webull.

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Schwab Trading Tools

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.

Charles Schwab Paper Trading

Schwab’s StreetSmart Edge rivals TD Ameritrade's flagship trading platform, thinkorswim. Both have advanced charting tools, market news, and quote data.

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Customer Service

Personally, we have nothing but good experiences with the customer service at Charles Schwab. All of my questions are answered in a timely manner and all the responses did not come back as canned responses that were pre-written in advance. Charles Schwab offers 24/7 support via phone and e-mail. You can also stop by one of their physical locations if they have one close by, which is something you would never be able to do at a smaller brokerage. Anecdotes aside, Charles Schwab is rated higher than many of its competitors on consumeraffairs.com. Charles Schwab has a rating of 1.4 whereas TD Ameritrade has a rating of 1.3, Fidelity 1.2, and E-Trade coming in last with a rating of 1.1.


Charles Schwab's level of research and information provided is astounding. They leave nothing out and display the information in a very easy to digest manner. As you pull up a security you will instantly be greeted with a vast amount of data and rankings. Take AAPL for instance. As you input AAPL on their research page, you get Charles Schwab's propriety rating based on fundamentals, valuation, and momentum. They also provide Morningstar's rating and latest analyst report, an evaluation of the company's economic moat, a comparison of what bulls are saying vs the bears, Credit Suisse's rating, Ned Davis Research's rating, the Argus 12 month rating, S&P Capital IQ's opinion, Reuters Research average rating, news, filings, and more. You will have all the information you could possibly need. Charles Schwab also offers and easy to use investment screener to help you find the securities that fit your investment profile. ETFs also have a report card provided by Charles Schwab which includes various ratings and detailed information about the fund. This report card will show the information you would expect, such as the fund strategy, performance, fundamentals, and holdings. It also includes so items that you wouldn't expect that are quite nice, such as a Market Edge opinion, a comparison within the category regarding returns, a volatility assessment of risk, and a tax analysis.

Trading Platforms

Charles Schwab offers two trading platforms, both of which are available with no trade minimums or fees. Charles Schwab offers a trading platform called StreetSmart.com which is designed for beginner traders and StreetSmart Edge which is cloud-based and supports advanced features and customization for traders who are more experienced. You can create multiple variations of charts for the same security and create custom layouts to increase your efficiency or merely keep things visually appealing.

Mobile App

Charles Schwab also offers a mobile app available via Google Play and the Apple App Store. The app has a rating of 3.9 on Google Play and 4 on the Apple App Store. These are decently high scores compared to other brokerage apps such as E-Trade Mobile, which has a score of 2.5. While the app has fewer features than the website, it has some nifty features, such as the ability to stream CNBC so you can get your fix of finance news on the go. You can also get market information and data even without signing in. You can still place trades and perform key tasks using the mobile app but with reduced customization and functionality. If you plan on placing simple trades on the go, the app is perfect for you. Charles Schwab also offers an iPad app called On Investing which allows you to connect with advisors, researchers, and other contributors to Charles Schwab’s popular On Investing magazine. This app provides a great way for people to review investment advice and material while on the move.

Pros of Charles Schwab

  • Low initial & subsequent investment minimums for most mutual funds & ETFs.
  • Schwab Intelligent Portfolios are an affordable option for investors seeking low-fee managed portfolios.

Charles Schwab Paper Trading Summary

Schwab continues to challenge the status quo among full-service brokers with low-fee investments. This is evident in the recent rollout of their Intelligent Portfolios. However, the biggest complaints are that they are still very expensive f or anyone who invests in no commission-free mutual funds and there is no virtual paper trading at Charles Schwab.