We reviewed Charles Schwab and collected all the important information and stats so you can easily scan them before making the decision of choosing an online broker. Is this the company to use for your everyday trades? Read on and see if the company suits your investment needs.
Charles Schwab Popularity
Being featured on all the major finance news outlets, Charles Schwab is one of the top online brokers in the market. The big number of active users and social media followers supports the above statement.
| Query | Answer | Reference URL | Date |
| Number of users (approximate) | 14.2m | https://www.aboutschwab.com/charles-schwab | 19 Aug 2020 |
| Website traffic (estimated) | 38.3m | https://www.similarweb.com/website/schwab.com/ | 19 Aug 2020 |
| # results on web | 30.7m | https://www.google.com | 19 Aug 2020 |
| Search volume Google | 550K | https://searchvolume.io | 19 Aug 2020 |
| Twitter followers | 103.3K | https://twitter.com/charlesschwab | 19 Aug 2020 |
| FB followers | 252K | https://www.facebook.com/CharlesSchwab | 19 Aug 2020 |
| How popular on mainstream media? | High | CNBC, Market Watch, Business Wire, Barron’s, Yahoo Finance | 19 Aug 2020 |
| Negative media? | Medium | https://violationtracker.goodjobsfirst.org/parent/charles-schwab-corp | 19 Aug 2020 |
| Notable awards | 2020 Highest in Investor Satisfaction with DIY Self-Directed Services Recognition | https://www.jdpower.com/business/press-releases/2020-us-self-directed-investor-satisfaction-study | 19 Aug 2020 |
User Rating
| Query | Answer | Reference URL | Date |
| # users rated on user platforms | 21 on TrustPilot, 8 on SiteJabber | https://www.trustpilot.com/review/schwab.com https://www.sitejabber.com/reviews/schwab.com | 19 Aug 2020 |
| Percentage of positive reviews out of user reviews | 62% | https://www.trustpilot.com/review/schwab.com | 19 Aug 2020 |
| Common compliments | Diverse services, trusted and reliable | https://www.trustpilot.com/review/schwab.com https://www.sitejabber.com/reviews/schwab.com | 19 Aug 2020 |
| Common complaints | Frequently undergoing maintenance, not great for options | https://www.trustpilot.com/review/schwab.com https://www.sitejabber.com/reviews/schwab.com | 19 Aug 2020 |
| Positive feedback on Twitter? | Helpful customer support | https://twitter.com/charlesschwab | 19 Aug 2020 |
| Negative feedback on Twitter? | Mobile app is constantly going down | https://twitter.com/charlesschwab | 19 Aug 2020 |
| App rating (summary) | 344K+ reviews with an average 4.5 / 5 rating | https://play.google.com/store/apps/details?id=com.schwab.mobile https://apps.apple.com/us/app/schwab-mobile/id407358186 | 19 Aug 2020 |
Background Information
A public company with almost 20,000 employees, Charles Schwab is the 14th largest banking institution in the United States with over US$3.3 trillion in client assets.
| Company public/private | Public | https://en.wikipedia.org/wiki/Charles_Schwab_Corporation |
| Revenue Data | $2.45 billion in Q2 2020 | https://news.alphastreet.com/a-visual-dashboard-of-charles-schwab-schw-q2-2020-earnings-results/ |
| CEO and bio | Walter W. Bettinger II – Is the CEO since October 2008 and is credited with leading Schwab through the financial crisis. | https://www.aboutschwab.com/walter-bettinger |
| Number of employees | 19,500 | https://en.wikipedia.org/wiki/Charles_Schwab_Corporation |
| Notable investors (private companies) | None | https://www.crunchbase.com/organization/charles-schwab |
Security
Security is important and all the standard measures are implemented, so you can rest assure that your account information is kept safe.
| Query | Answer | Reference URL |
| HTTPS Certificate | Yes | https://www.schwab.com |
| 2FA ? | Yes | https://www.schwab.com/content/two-step-authentication |
| Device monitoring? | Yes | https://www.schwab.com/public/schwab/active_trader/trading_tools |
| New device extra security? | Yes | https://www.schwab.com/legal/deviceid |
Fees & Offering
No fees for most of the transaction types and they provide fractional shares. Unfortunately for some, cryptocurrencies are supported as of yet.
Trading App
The Charles Schwab mobile app is one of the best rated trading apps on the market. It has an average rating of 4.5 out of 5 stars.
| Query | Answer | Reference URL |
| Android app # installs | 1m+ | https://play.google.com/store/apps/details?id=com.schwab.mobile |
| Android app # reviews | 17K | https://play.google.com/store/apps/details?id=com.schwab.mobile |
| iPhone app # reviews | 327K | https://apps.apple.com/us/app/schwab-mobile/id407358186 |
| Android app rating | 4.2 / 5 | https://play.google.com/store/apps/details?id=com.schwab.mobile |
| iPhone app rating | 4.8 / 5 | https://apps.apple.com/us/app/schwab-mobile/id407358186 |
| Common compliments on app | Good research tools and readily available information | https://play.google.com/store/apps/details?id=com.schwab.mobile https://apps.apple.com/us/app/schwab-mobile/id407358186 |
| Common complaints on app | Clunky and consistent problems with the login process | https://play.google.com/store/apps/details?id=com.schwab.mobile https://apps.apple.com/us/app/schwab-mobile/id407358186 |
| Weighted average app rating | 4.5 / 5 | https://play.google.com/store/apps/details?id=com.schwab.mobile https://apps.apple.com/us/app/schwab-mobile/id407358186 |
Final conclusions: Charles Schwab is a Top Broker
Charles Schwab is a big broker and the long history of the company can only showcase the good service it’s providing to its growing customer base. If you don’t have already an account with them, you might want to consider them as a choice.