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I called them at least 6 times about this outdated BS, they said I would have to call to place an order and then it's up to the rep if additional $25 fee will apply....You should call to complain but be nice and don't cuss as they may decide to close your account like they are doing to me
What we are upset about is that we were promised same or better level of service after the move from TDA to SCHW. That was a lie and SCHW should be held accountable.
We traders need to send Schwab a message they can't control us like puppets with our trading platforms...I plan to post negative reviews the rest of my life, I will be taking Schwab to arbitration if they sell my OTC stocks, and I'll be the one calling in to talk shows like Cramer's Mad Money and Fast Money to let the public know that Schwab is a mess and should be boycotted!
Re: Schwab for long term investors..........................
I have a lot of tools in my garage. Some of them date all the way back to my great grandfather. Some are clumsy and some are handy. Some are specific to certain chores while others are more generic.
I've used and enjoyed both TD Ameritrade as well as the Schwab portal. For my way of investing and trading both work equally well. I don't use any of their 'great features' as my investing methods don't require them nor do I see any benefit for me.
I used to own Ameritrade's stock and profitably traded around my core holding until they were merged into Schwab. Now I own SCHW and profitably trade it around my core holding. So, while I understand the frustration of being forced to use a new brokerage service, I can't see that bashing Schwab is accomplishing very much.
I suggest finding the right tool for the work you do. Schwab is a fine tool for those of us who trade and invest for longer than a single heart beat. It's rare that I don't hold a stock at least 3 to 5 years. Many I've held for decades. I've never looked at SCHW's portal to trade short term, so don't know if there are proper channels for that sort of thing. If not, then there must be other tools out there for that type of activity.
Best wishes,
OAG Tom
Schwab may be in trouble here imo, read article: https://www.dallasnews.com/business/personal-finance/2023/03/28/charles-schwabs-growing-paper-losses-raise-questions-for-investors/
When I called a month ago several times Schwab said StreetSmartEdge will be going away, a few times they said it will stay and I asked them to please check with a supervisor and then they all come back to say SSE is going to be retired along with TDA standard platform and the name TDA. Why does Schwab play cat and mouse with the platforms and their clients using them? They should keep all the platforms for more choices...I feel sorry for the peeps using SSE as they are forced out to learn Think or Swim which is highly technical and hard to learn for me, I only use it for L2 quotes. I hope Scwab stock tanks!
Read the complaints!
https://topratedfirms.com/brokers/customer/charles-schwab-review.aspx
Agreed, I bought put options, Schwab bought TDA, an active trader broker, and now they want to convert all TDA clients to the outdated 1970's Schwab conservative investor platform, they don't want penny traders
This the next bank company to go under?
As soon as my TDA account moves here, I'm taking it all out.
Don't want to allow trading penny stocks. Sucks for you then. Let it tank to the shitter.
Hi C, Re: SCHW and trading around a core position..................
No, I don't use Stop Loss orders on any of my portfolios. Since my average holding time is usually in excess of 4 years there is usually capital gain involved in selling out of a position. So, while I might be stopping the value drop, I usually would be inviting a capital gain event. In the case of the SCHW shares there's about a 45% LT and ST gain overall if I were to sell now. I don't need the tax liability.
Instead I usually average down in share price at intervals. However, the cash reserve isn't a bottomless drawer. My last purchase of SCHW shares was at $49 and that pretty much exhausted the reserves of cash I'd held for that position. To conserve cash I usually only make one consecutive buy in a 30 day time window. That usually helps with Falling Knife Syndrome.
On that latest purchase I'll harvest a LIFO gain if the price rises to around $61.
Best wishes,
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