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SCHWAB SUCKS !!! ALWAYS HAS AND ALWAYS WILL!!!
I have tried Schwab's platform for streaming quotes. I noticed something from the very beginning. Every time I entered a buy, the price went up. Then if I tried to sell, the price would drop like a rock. Always check to see if platforms from all brokers do the same before using them.
And just to let everyone know, look at your own records history. Personally, I have lost more using Schwab than from my other broker. That says something.
I closed my account with Schwab. IMO, they are a bunch of manipulators who do not take care of their customers. I have been doing much better with my other broker. I am also thinking that Schwab people are manipulating their own numbers, just my opinion. My advice, find another broker and have nothing to do with Schwab. But, make the decision for yourself.
CNBC today said they estimated to lose 4% assets from the TDA buyout, but the guy says today is "Below that", not sure if that means much more loss of assets or less loss of assets but with all the complaints it has to be much greater than 4% loss imo
https://www.cnbc.com/video/2024/01/17/charles-schwab-one-of-the-most-attractive-bank-stocks-despite-near-term-headwinds-oakmarks-fitch.html
Heard from Lime Time the 999,999 share trade limit has been removed! They prob got so tired of complaints they had to update it
All old Schwab platforms will be retired this year. I have access to them but all my positions are on TOS now. So far, TOS is mostly what it was for my TDA positions.
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Agreed They pump their own ticker everyday, swing trading it to stay afloat.
It's a pattern one can make money on but could be hammered anytime for manipulation and scandals that are about to end abruptly.
Where Charles Schwab goes, nothing grows.
Schwab is the Most Hated Broker on the internet! They deserve what they get! They say "Trade Brilliantly with Schwab" as they destroy the TDA website and force peeps over to Schwab outdated platform where you have to click refresh button to see a real time quote, NO STREAMING QUOTES!
$SCHW will get hit hard, shorting precious metals stocks and miners.
SVB crash will be like a walk in the park. When Whale tycoons enter the scene, Its over for Schwab.
Or how about trying to put a simple 100 day MA on a chart? Not possible with Schwab platform, or how about a 5 minute bar chart for day trading? Schwab doesn't allow a 5 min bar chart, it defaults to a lousy line mountain chart so you can't see the hi/lo close of the 5minute bar needed to day trade, their standard platform SUCKS!
We used to be able to hover over a ticker and stats with intraday chart pops up, that's gone with Schwab
Do you trade OTC? Do you know Schwab platforms can't except a 1mill share order? and you'll have to call to place a $100 order for 1mill 1's? And if they feel you're are a sucker they'll try and tag you with a phone assist charge of like $25?
Do you like the extended hold on funds deposited, one guy said today he's still waiting for funds to clear from his 12/19 deposit
What? Do you like the standard platform where you have to click refresh instead of streaming real time quotes you had with TDA?
So far, the transition from TDA to Schwab has been better than I expected. No complaints yet.
Schwab messed up! Everyone's angry, of course we will bash, and for good reason, social media internet is a powerful tool and we traders own it, peeps can read all the negative Schwab reviews online everywhere! I bet they lose 66% of the TDA clients, and the CEO says only 45 complaints per million account transfers into Schwab from TDA...I don't believe it! Not seen it on the online reviews, in fact there are a mess of complaints late 2023 pouring onto the web, Schwab is done! Put a fork in this so called Company!
Well, I do think you're flat out full of it imo, Ur the ONLY one who said they can trade over 999,999 online with Schwab, so it looks to me like you are lying...can you post a trade you did over 999,999 online without a broker assist? Nope, I know you can't cuz it's NOT possible with Schwab, you must work or Ur wife works for Schwab, Schwab is the worst broker out there, everyone says so accept for you
Whatever u say,,good luck
Sorry, it doesn't add up nor make any sense, Schwab does NOT allow trades over 999,999 online period......you think they made a special platform just for you?
When Schwab took over TD my account was switched over very quickly,, as your statement about not having L2 live I already showed you that was not true. Schwab live L2 is fine u just have to download the right 1. If your not happy with a broker find another 1. Best to have multiple brokers when trading . If your trading with large accounts brokers always listen when u want your funds transferred to other brokerages
IDK, but obviously there is some lack of communication here, cuz if you trade with Schwab in USA, a USA citizen cannot place orders for more than 999,999 shares, it's just not allowed through the online system.....how long have you been able to trade over 999,999 shares without calling them? Something doesn't add up here
I can’t speak for other people,,, what would be the purpose of telling u a falsehood . Believe what you wish.. good luck with your trading
C'mon man, there is no way you traded over 999,999 shares with Schwab online...because their outdated system only allows 6 digit trades not 7....are you with Schwab in US? Cuz they told me multiple times trades are limited to 999,999 max shares and it's been all over Ihub
I also heard about the L2,,, they r downloading the wrong app
Hmmmmmm,,, I never had a problem
Never heard anyone say that they placed a trade more than 999,999 shares with Schwab...not without calling them, they seemed pretty non-negotiable with this and was one of the main reasons I complained to them
I buy orders over 1 mil all the time,, to get live L2 quotes you have to download think or swim app…. 1 thing is you can’t trade from think or swim so you have to switch over to Schwab app,,,,,,,heard they will have that changed shortly
It's been a long wait to recover some cash in this holding. This is my history since the AMTD - SCHW merger back in 2020. The position has rebuilt to more shares than when it started with the repurchases along the way. It's nice to have a cushion of cash here again in case the price cycles yet again.
https://schrts.co/KZhXkUeE
This sale represents a 43% LIFO gain on that last buy. That's enough to help the overall portfolio's performance since it started. It's back just over 100% gain since 2020.
Best wishes,
OAG
I'm still with TDA, they want to close my account by March, from what I hear Schwab is a mess and you can't buy Yield signs and no orders over 999,999, no real time quotes still on standard platform, the L2 on Schab TOS is NOT the same as TDA L2, etc, etc I think they charge 6.95 a trade plus extra to place orders over 999,999 shares
How much does Schwab charge you for trading penny stock now?
all im going to say is get out of schwab before its to late, was a stock only buy of td, hes in debt
up to his ears 79 billion and growing from all that commercial properties he bought that is empty now, you got to ask yourself why didnt he put his name on ameritrade and use it why the rush to get investors over to schwab when interface is clearly not ready infact the watch list ask bid price not live so you dont even know what the share price, are going, im going to Etrade, vary easy to use and same interface as td but need a few updates. to be as good or better than td.
From an article in this week's BARRON's................................
Charles Schwab Won’tBe Dethroned
Despite snags with the TD Ameritrade transition, Schwab has what it takes to win.
BY ANDREW WELSCH
Financial advisor John Robinson was scheduled to move his clients’ funds to Charles Schwab from TD Ameritrade over Labor Day weekend as part of the brokerage industry’s largest account migration ever. He expected a snoozefest; instead, he says he experienced a “dumpster fire.” A $1.7million account wasmistakenly assigned to him, and three of his client accounts totalingmore than $4 million were incorrectly assigned to another advisor, he says. Robinson tried calling Schwab’s (ticker: SCHW) service desk but couldn’t get through. He finally spoke to someone the next day about themissing accounts. “They askedme, ‘What’s the account number?’ ” he says. “And I said, ‘I don’t know. I can’t see the accounts.’ ” Four days later, the accounts were reassigned correctly, but the experience has left Robinson dispirited. Schwab might lose his business.
“It’s 50/50,” says Robinson, owner of Financial Planning Hawaii. “My great preference is I’d verymuch like to leave. I’mdisappointed. This is not what I was expecting.”
Some Schwab customersmay share the same sentiment, and Schwab investorsmay, too, though for different rea-
sons. The snags in the $1.3 trillion Labor Day transition have come amid a trying year for the company. The stock is down 35%, bank deposits had fallen 28% year over year as of Sept. 30, and net new assets tumbled in July and August as some Ameritrade customers and advisorsmigrated elsewhere.
“Schwab is at a crossroads,” says MichaelWong, an analyst atMorningstar. “There are a lot of potential positive and negative catalysts in the next two to six quarters.”
Rising interest rates over the past year have pressured Schwab’s bank, a key profit center. Customers have moved billions of dollars out of the company’s default low-interest bank accounts to higher-yielding options, a process known as “cash sorting.” Because deposit outflows have exceeded Schwab’s cash on hand, it has had to rely on costly short-term borrowing, which has caused its interest expenses to soar and taken a bite out of earnings.
Schwab’s third-quarter results, posted on Oct. 16, were better than Wall Street’s forecast but still down sharply from a year ago. During the company’s earnings call, executives didn’t release a dramatic new business strategy or turnaround plan. Instead, they urged shareholders to be patient.
“Despite the environment, despite the noise, we are supremely confident in our positioning for long-term growth,” said CEOWalt Bettinger.
Many analysts agree and remain bullish on Schwab’s downtrodden stock. That’s because cash sorting will probably end as interest rates level off, they say. Also, thanks to its acquisition of TD Ameritrade, Schwab has enormous scale and a commanding lead over the competition. Plus, Schwab dominates the business of holding assets for the clients of independent financial advisors. This space is difficult for newcomers to break into, even when there may be dissatisfied customers.
Schwab says that as far as the TD transition goes, all is well. The overwhelming majority of TD Ameritrade clients have transitioned to Schwab successfully, and attrition is lower than what Schwab had forecast. “Only a tiny fraction of transitioning clients reached out to us with a concern,” said a Schwab spokeswoman, adding that the company’s priority is to quickly resolve any customer issues.
Best wishes,
OAG
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Finally. For those stuck with TDA to SCHW they finally making some progress with thinkorswim.
Some good news from Schwab on plans to encorporate thinkorswim. From an email I received today 'Sit tight: thinkorswim will be available soon.
We're putting the finishing touches on the platform suite now, and we'll let you know when it's ready.'
Great chance I think to get back to the pre-fall range
These were originally Ameritrade shares before SCHW merged with them. The transactions along the way show up with the increase and decrease in Cash Reserves over time. The following history doesn't include this week's very generous increase in share price.
I sold small increments of the holding as the price was rising and then,. more recently, plowed all that cash back into more shares.
So far, so good,
OAG Tom
I got in liw 50s but kept waiting for a bounce I thought was coming.
Good luck
Hi SBD,
I'm waiting for $69+ to lighten my inventory by 10%. My last purchase was at $49.00, so I'll be looking at a LIFO gain of around 41%. I'm in the black on my last three purchases as of this recent upward move.
Best wishes,
OAG
Little more today
Gained a little traction past few days
While the price shaving SCHW got when the "financial crisis" occurred a few months back did a number on this stock, note that the Accumulation/Distribution really didn't change all that much. It got bouncy, but never really changed dropped off.
https://schrts.co/UHPkZvCT
Best wishes,
OAG
Yeah, peeps need to boycott Schwab, My dad was a district Court Judge so I have the legal BS in my blood, I have not heard one positive from anyone who had their TDA accounts taken over by Evil Schwab Avatar machines!
I tink u are a lil more mad than I am, but I will let you know what response I get from them. I have half a mil in here in their name and will threaten to sell it all and move it out. It's not only penny stocks either. Have a lot of divi reinvest that transferred over but the reinvest part didn't. I'm very mad. This should be shut down.
Good luck Lime Time, I am so angry I feel like stopping in their Denver locations and stand in the lobby and tell waiting customers in a loud voice what Schwab is doing to TDA customers...and I'm still trying to transfer to Wilson-Davis b4 Schwab sells my OTC for me at great long term loss....then I will file arbitration, go to local locations to express my views in the lobby, even make a picket sign and hang out for a few hours in front of their local branches!!!
TDA was the best! Now Schwab is going to retire the TDA name!
Not satisfied with Schwab at all. There is strangely an office 5 minutes from my house. I'm going in person this week to talk to them to get straight answers about not meeting TDA's level of service.
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