PROS / This online options trading service offers excellent educational materials to help you learn options trading.
CONS / Charles Schwab's options trading platform lacks forecasting and risk vs. reward tools.
VERDICT / Charles Schwab offers reputable online options trading services and excellent educational resources. The options fees are competitive. The software is useful and customizable, but it lacks some advanced features.
Charles Schwab brings years of experience in investing and investment education for stocks trading and development of investment portfolios. This online options software offers trades for a fee of $8.95 plus $0.75 per contract and broker-assisted trades at $25. While these fees are higher than some of the competition, they are just slightly higher than average.
You can access the online platform from any computer, making it easy to monitor your portfolio anywhere you are. The platform itself is customizable, with the ability to arrange the individual elements as you wish. It's easy to buy and sell options, view your alerts, create watchlists, and enable streaming quotes so you always have the most up-to-date information about potential trades. These are useful features for any trader, but Charles Schwab's platform lacks some of the advanced tools we looked for, such as forecasting and risk vs. reward calculators.
Apps for the iOS and Android operating systems let you monitor and trade using your smartphone or tablet. The apps also allow you to conduct market research and track updates.
Charles Schwab is a full investment company, so it also offers the ability to invest in stocks, bonds, mutual funds, IRAs and ETFs. It also offers access to the international stock exchange so you can trade beyond United States limits.
This online options service offers excellent information on using the platform as well as investing. The education center has multiple resources about online trading and best practices when using your stock tracking software. The company offers video tutorials and webinars as well as live events and seminars at Charles Schwab locations. This company can teach you about all the investments that make a good portfolio, not just options.
You can contact customer service via phone, email and live chat. The phone help center is open 24/7.
Charles Schwab has competitive trade commissions, though higher than some services. The online trading platform works on mobile devices and contains a solid variety of trading tools. Overall, it’s a solid stock software, and the education center offers excellent resources for those who want to learn more about investing and trading.