Charles Schwab is a large financial corporation from California (USA) that provides brokerage services to citizens of all countries of the world. Included in the top 3 broker companies in America, having a total asset value of more than 220 billion dollars.
• Year of foundation – 1971;
• Staff – 16,200 people;
• Specialization – investment programs, access to trading, banking;
• Number of official representative offices – over 330 worldwide.
We are more interested in the direction of the company, as one of the major Forex brokers. Each user can open an account and trade currency pairs, CFDs, commodities, stocks, bonds.
The company is regulated by U.S. SEC, which is a confirmation of the transparency and integrity of the broker.
Selling Platform for Trading
One of the features of the company is the presence of its own trading platform called Street Smart Edge. The program is downloaded to a computer or mobile device. It is also available from the cloud, in an online format with a browser.
Unfortunately, users face some limitations in trading. In particular, scalping, the use of automatic robots aren`t allowed, a trailing stop cannot be set, instant order execution is not available. At the same time, the list of liquidity providers includes large financial companies that are beyond doubt.
Schwab’s trading platform is multi-functional. Directly to the main graph, you can add analytical data in the form of various tools, connect the source with the news.
Features of the trading conditions
The minimum deposit with this broker is $1000. This is of considerable importance even for those traders who already have some experience in trading in financial markets. At the same time, for the most part, assets are charged an additional commission for the execution of orders. The user may experience difficulties in choosing an account and in studying the conditions of cooperation.
There are two types of accounts available:
In addition to traditional trading, you can connect to the account and additional services. For example, mortgage loan, custody funds, a number of investment programs. Conditions need to be studied in detail, as they are written in compliance with legal subtleties. In consequence, it will be difficult to break the agreement if you are not satisfied with the conditions. When registering a new account, the user is verified.
Neither mini-accounts (cent) or Islamic accounts are available to clients of Charles Schwab Corporation. Experts believe that this is a signal that the company operates in the ECN format, when all transactions enter the interbank market. Therefore, a number of conditions cannot be fulfilled. For some it will be an advantage, but for someone a disadvantage.
Trust management of capital is available to customers. It is made not in the traditional format of PAMM-accounts, but in the extended and professional execution. Traders from the United States are satisfied with such conditions. But Europeans and investors from the CIS are not accustomed to the increased size of the spreads and to the complex, bureaucratic investment processes.
High level of the work safety of broker Charles Schwab
We will single out several key factors in favor of a high level of company security:
• The normative support for the regulator (one of the most respected financial regulatory authorities in the United States);
• 24-hour support service (you can contact managers at any time of the day, seven days a week, via contact numbers or online);
• Extended verification procedure (each potential client questionnaire is checked against US databases, moderators must confirm all applications manually);
• The company has government support, as the total turnover of the company is a considerable share of the country’s GDP (the turnover in all branches exceeds a trillion dollars);
• The company’s liquidity providers are reputable participants in the global financial market.
The company provides its own training courses in the format of video lessons, webinar recordings, seminars. However, users will not see anything new – all information has long been freely available.