Schwab has horrible reviews, I think I pushed them too far and tried several phone calls and online messages to try and get Schwab to keep the standard TDA platform that I have been using since at least 2016...I even compared them to Morgan Stanley and said even MS didn't ruin the Etrade and power Etrade platforms or force clients to MS's platform when MS bought Etrade...I said "More platform choices are better than fewer" and told them the TV commercials for Schwab say "we will be sure to provide our clients with the support and tools needed to secure your financial future" and told them that if false because they are taking away the tools I have been using since 2016!
And I really embarrassed them by asking "How in the world does a big broker like Schwab NOT have a simple search engine to find high volume tickers"? "Why dissolve the TDA platform that has this feature"? I search for over 10mill vol OTC the first hour and another search for over 50mill vol OTC the last hour of trading, I said "Has no one at Schwab ever heard the saying "Volume B4 price"? I told them this is proof Schwab is a 1970's grandfathers broker and does not cater to active traders like TDA does. I have about 40 CE and EM tickers at TDA and they sound like they will sell them if I can't get them transferred, here's the letter they sent me:
Here's a review of what TDA clients will be forced over to with Schwab: I Opened a Schwab account to see where my TDA account will be forced over to in order to get a feel for the Schwab platform and I found Schwab to be stuck in the 1970's! 1. No realtime streaming quotes, you have to click refresh to get a current quote on the Schwab standard platform., and the streetsmartedge platform is going away by March next year yet they still want me to learn it. 2. Schwab is unusable for OTC penny stock trades because there is a 999,999 share trade limitation...they told me I can always call to place a trade but it will be at the broker's discretion if the $25 phone trade fee will apply or not! 3. Schwab is so far behind the times, There is no way to do a search for high volume tickers...they don't have a simple search to find high volume tickers! 4. The charting on the Schwab standard platform will not allow me to place a 100 period Moving Average on the charts, and Streetsmartedge platform won't allow a 5 min bar chart, it defaults to mountain or line chart so it's no good for day trading 5. You can't place an OCO order for 2 different tickers, Schwab doesn't allow this type of order like TDA has. 6. I have heard complaints(There's a lot online) that they hold your orders for up to 3 minutes to "Manually review" b4 they place your trades
Conclusion: Charles Schwab is an outdated Grandfather's investor platform, lots and lots of negative reviews cuz they don't care about their customers at all and are forcing TDA accounts over to Schwab and they will be scraping the TDA platform like the Evil machines in the movie Avatar...they advertise they will be sure to provide the tools and support needed to secure your financial future but it's all BS!!! They have a useless platform for real traders and don't seem to care....now they are banning me from trading my TDA account with no warning, I found this out when I placed a trade that was rejected, they said it was "A business decision" and they want me to just go away! No wonder Schwab stock is tanking, now 49 down from 96 and heading to 32 or bankruptcy!!!
Here's the termination letter again, I have 10mill MIKP with TDA