As brokerage firms incorporate sophisticated investing platforms that users can control, sometimes you need to look back to offer a great new product. Charles Schwab can arguably be described as legacy banking, but its current interfaces for both desktop and mobile show that Schwab is more than keeping pace. The venerable brokerage now offers a smorgasbord of options that will appeal to new investors and pros alike.
The headline is impressive: zero fees and zero minimum. When it comes to stock, options and ETFs there are no commissions. You also get access to top flight research and even a selection of no transaction fee mutual funds. In short, there is an excellent selection of places to try and make your money work.
The amazing thing about Schwab’s implementation of the modern trading platform is how it works so well for so many different types of users. Both beginners and advanced investors will have an easy time getting started. This is also an ideal service for those who want commission-free trades, no minimum index funds and premium research. It’s easy to implement more advanced tools for experienced investors or to have the expertise of Shwab provide a safe and predictable investing environment for those who favor a hands-off approach.
Schwab’s research is as good as any you can find in the space of online brokers. You will get access to the company’s proprietary reports, as well as reports from Morningstar, Ned Davis, Credit Suisse and others. Of course, there is also an excellent array of real time news and earnings reports.
Another unique feature is the selection of trading interfaces that allow you to interact with your Schwab account. You get a fully featured interface through the Schwab website, but also an opportunity to use wholly separate platforms as an alternative. One of these is called StreetSmart and is the premier offering from Schwab. It can be utilized locally or through the cloud, and also offers options trading.
As the number of choices you have for an online broker continues to grow, it may be a bit surprising that one of the old guard, as opposed to a “disrupter,” offers such a well-rounded and versatile service.