Schwab Mobile Reviews

by Chrisjohnjarvisridiculous

The day change and possibly several other figures on Schwab are not accurate! I called this app on it and they confirmed it!! It was showing I had a day change of ~$800 whereas the actual change was only roughly $400! This prompted me to make more changes than I normally would have but in another scenario could possibly put you into a position where you think you are gaining but you are actually losing money! It definitely affects how you feel about buying or selling stock and therefore, with inaccurate figures could cause a loss of money you weren’t expecting because this app was not up front with the user on the problem. I even called a broker from this app who confirmed this anomaly and was also frustrated with it admitting that this app has known about it for a long time!! Because of this issue, he said many brokers at this app use the website instead of Schwab . Therefore, Schwab is unacceptable and a 1 star rating until they get it fixed. I will say that all of the brokers I have talked to over the phone have been super kind and helpful so I think this app is a decent company, but don’t get yourself into trouble using Schwab!

by Coolrigs

Schwab provides a pre historic user experience. It’s takes painstakingly long to enter stocks and options orders as there are validations at every step of entry that are firstly unnecessary (no other trading app does this) and secondly each validation takes it sweet time. It does a validation at the end again. Additionally, changing an entry like Qty or limit price wipes out what you had entered in other fields which is counter intuitive and leads you into vicious cycle of data getting removed. Takes forever. If you want to do multi leg options it is a compounding nightmare. Please design Schwab based on user use cases and not based on technical requirements, which should be embedded seamlessly. It’s a shame big banks with deep pockets can’t think out of the box and come up with easy to use app. Please learn from newbies like Robinhood how they easy and quick they have made option trading reinventing entire interface. This whole ordering interface shd be redone ASAP from the ground up or you are going to lose customers like me who are using their mobile devices increasingly.
Thanks for asking for feedback.

by DiamondGrl2

If you like donuts, you will love Schwab since you will see a lot of spinning donuts while you wait to place a trade or see your balance. this app needs to devote far more server capacity to its apps. It’s often the case that it takes 10-15 minutes of effort to place a single trade. Except for this glaring problem, it’s mostly good. But it could use improvements like listing positions alphabetically instead of completely randomly. You should not have to scroll up and down a list of dozens of positions just to find two options trades in the same symbol that were literally placed at the same time. Why would one be listed at the top and the other near the bottom? And when you click on Order Status, who on God’s green Earth wants to be taken to orders placed days ago by default? The default assumption should be that the trader wants to see open unfilled orders. It’s clear from decisions like this that Schwab creators are doing things to check development tasks as complete and not doing the tasks because they help real customers.

by Qh87

It seems all I can do on Schwab is trade and view my account in limited detail. The research capabilities are virtually nonexistent. A search for “research” yielded the reply “log in to the website and hover the cursor over the research link”. In other words Schwab would appear to have no research functionality

I was originally a Scottrade user before it was sold to TD Ameritrade. Now TD Ameritrade is being bought by CS. this app would do well to look at a substantial overhaul of the user interface on both Schwab and it’s website as they are both woefully lacking in the details I was accustomed to previously. I am not a CS customer by choice, I am here due to corporate institutionalization initiated by my employer and multiple acquisitions. Using this app’s digital resources is like looking at my grandfather’s faded tighty whities.

this app should pull out a blank sheet of paper and start from scratch in designing a better app/website with more functionality and ease of accessing data for research and reviewing account details. Please take a few pages from TD Ameritrade employees and any Scottrade employees that may be left on property. Just because you are bigger doesn’t mean you do things better. I find the opposite is usually more accurate.

by Theman770

this app is a great company, time tested and respectable, but their mobile platform is undoubtedly antiquated in comparison to other mobile investment apps. Other than its bare bones black-and-white UI, what makes the Charles this app app feel like it belongs in a museum rather than on smartphones, is the inability to make direct transfers to and/or from personal bank accounts. While other trading platforms allow for instant access to funds traded between accounts even before transfers are fully settled with the press of a button, I can’t even move cash between accounts without physical checks. For a younger guy like myself, this is a massive turnoff, and it’s why other apps like Robinhood and Webull have been exploding in popularity, and most folks under 25 have never heard of Charles this app (outside of those with retirement accounts)
I, and many others, would Love it if this app took initiative and overhauled their app and offered some innovative changes, even maybe offering a cryptocurrency wallet and the option to purchase transfer and sell cryptos on their platform.

by Bendy The Great

Schwab is utilitarian, it gets the job done. But the user interface on a phone and/or tablet does leave some things to be desired. All of the information that you need is contained within Schwab . However, I would like to see more options to vary investor preferences. I personally would like to have a day graph of each asset available to add to the initial investments page. Create a customization feature for each asset instead of dictating what I prefer to see upon opening Schwab .

I know that Charles this app is in the business of caring diligently for people’s assets and for that I am greatly thankful. But now that they are a front runner in doing that, I’d like to see some time invested in the user interface and investment platform. Interviewing a younger population that has grown up in a digital age my help in assisting with the user interface of Schwab.

The question is: do you value form or function, because Schwab doesn’t provide both?

by SolitaryKat

As a new client I’m having a Very difficult time Navigating the site. I moved from Webull and urged my son to do the same because Webull did not offer DRIP. Wiring money into the account took a little longer than we liked. Fractional investing was alluring.
Sadly, the this app layout is not simple. We struggle to get familiar with/ make good use of the system. (I’m assuming it’s because we use mobile about 85% of the time). Before signing up I read about ‘great, easy to use’ useful platforms. Independent trading is important to us. The wonderful platforms/software don’t seem to exist. I was especially hopeful about Street Smart Edge... not available?!
I regret encouraging my son to move to this app. I’m considering another firm. I’ll pay the fee for his transfer out once we find a user friendly firm that allows D.R.I.P and fractional investing. I’m sure it’s out there.
I wouldn’t recommend this app for independent users who want to use the platform for anything more than direct purchase/sells.

by Poawaman

The mobile app is lacking user friendliness and convenience. Honestly, Ally Invest is the only app with worse charts. You can’t really see as much info as you need by default and when you try to drag your finger over it, it opens a chart in landscape view that is confusing. Please copy Robinhood in that regard. They have nothing else good about them but people still use them because dem charts.

Also, when you try to buy something in Robinhood and your trading account doesn’t have enough money they will do an Instant Deposit that lets you immediately trade while they transfer the money from your external bank account. But on this app when you try to make a trade from your trading account it will say you don’t have enough funds even though there are plenty in your this app checking account. So you end up having to manually transfer money from the checking to trading account first which is tedious.

You can’t set your accounts to do auto stock purchases from Schwab . Or set a bill to auto pay. Or set stock price alerts. It’s really annoying to have to open the web app to do stuff.

by Motoindc

I’ve been a this app customer for 20+ years and I trade fairly often, including both equities and options. I use the iPhone and iPad app and they both have two fundamental flaws when it comes to monitoring positions. For one, there is no way to sort your positions by % gain/loss, $ gain/loss or any other way - they are permanently listed in alpha order by company name. Being able to customize the sort is such a basic feature, and one that every stock monitoring app has, and it’s absurd that you can’t do it here. Second, you cannot view a position’s day change and overall gain/loss on one screen - you have to flip back and forth between screens to get the complete picture. I understand that compromises have to be made for mobile apps, but there ought to be a way to see a more complete picture of your positions on one screen. And if you must limit the amount of info on a screen, at least give the user the option to choose which information is viewable. Again, simple customizations go a long way. Otherwise Schwab is generally easy to use, fast, and offers a fairly simple platform for making trades.

by Greg In Scottsdale

Schwab is very slow to reflect current prices on things like options and even cash balances. When trading on other platforms, when I execute a trade, the shares either bought or sold are immediately shown in my portfolio. On this app it can take several minutes to show up in my account. Additionally the cash balance takes several minutes to update and I have mistakenly gone negative because I thought there was enough funds to cover trades and then 5 minutes later I find that the cash balance has finally updated and I need to transfer additions funds to cover.

Also option prices are often incorrect and when you look at a call price on other platforms and websites, they will all be in line and this app will be off, sometimes even from themselves. Example: a stock showed the last option price at $.80 with a bid and ask of $.80 and $.85, but the current option price showing on my portfolio was $1.20. All other sites showed the price at $.80. This needs to be fixed.

by NickGarciasExperie.

I’ll start by saying, this app is a customer centric company. I have never had a bad experience with the people working at this app. HOWEVER, their technology, specifically their app and website, are aging... badly. Tonight at 10:29 PM PST I wanted to set a transfer for tomorrow from my this app investor checking to my this app investor brokerage in Schwab , and I was met with an ugly “stop” sign, yes literal stop sign emoji saying “Payments/transfers between these accounts can only be accepted online Monday through Friday 9:00 am ET - 7:00 PM ET”. I just wish apps would let you forward date your transfers without throwing up a stupid blocker which clearly is put I place to show they didn’t want to develop out any features to support it. I like the people this app hires, but the second they make Schwab too clunky to use for basic money management, I’m out, sorry. My advice, invest in the products and features your customers need. I need to move money and buy and sell stocks from my phone. The rest can be built on the desktop site, so solve your consumers needs.

by Very Frequent App User

Schwab operates smoothly which is a big positive. It’s not choppy nor is it glitchy, at least not for me. I give it only two stars because those elements are the bare minimum. Schwab is entirely consumer focused but UX wise that doesn’t really show. My financial information is displayed as if I’m looking at a mere digital representation of an old school checkbook. That’s ok but we’re at a stage with software engineering where there is vastly more they can do. I should have more ways to look through my data other just using basic filters for basic categories. I can’t even do a basic keyword, let alone word, search for anything outside of what financial instruments I might have purchased or sold. So that’s just looking things up. What surprises me though, really, is that I can’t manipulate my financial information at all in Schwab . All I can do is view it. If that’s all my fellow consumers want to do, then Schwab won’t change to include those features, but that lack of interest just won’t last for long. App has a long way to go.

by IBA60301

There are some things that could be improved... for instance, when you bring up the chart for a stock, why is there a translucent (not transparent) rectangular box (with writing in it) on top of the chart at the location you are trying to check? Can you say asinine? I have been complaining about this for years but it’s still there. Yes, I said years. It is, however, better than it used to be. A number of years back it was opaque! You had absolutely no idea where you were on the chart. Now you have an idea, but can’t always be sure of exactly where you are. Get rid of the box and move the info to the mostly empty gray bar immediately above the chart. Why is it that the larger charts only have the month and year (6-month to 5-year) or only the year (10-year and Max). Why can’t you include the date on all of them like the Personal Value Chart? It seems to me that whoever is in charge of the individual stock charts needs to take some lessons from whoever is in charge of the Personal Value Chart. I am of the opinion that (in some cases) you can fix stupid... but sometimes it requires a little public shaming. Let’s see if you can fix this one.

by Prs7786

I absolutely love this app! Unlike most people, I didn’t open an account with this app for trading. After coming to USA in 2016, I started with Chase since my peers pushed for it. I didn’t have a clue and ended up with Chase. Chase didn’t treat me well and I switched to Bank of America. BofA is relatively good, but I didn’t like them for unnecessary fees all the time. I only heard of the concept of “online only” banks back then. And had to chose between this app and Ally. Thank god I chose this app! Best decision ever made. Their customer service is top notch. The most polite set of people you’ll ever speak to. My experience is so good that I terminated my Robinhood and now trade exclusively with this app.

If I were to make one change in this app, it has to be support for faster movement of money, say using Zelle etc. That’s the only reason I haven’t closed my Bank of America... yet. The day this app introduces Zelle or any faster method of moving money, I’ll commit myself to this app only.

Speaking of Schwab itself, it works smooth. Never had a problem. However once in a while, I do see some issue with options and a blank page appears with a message “Content currently not available”. I’m sure other users have experienced this too. Hope they fix it soon.

by TassiaP

Schwab is easy to use but needs an updated UI. Little things like icon size inconsistencies, alert banners when there are no more alerts and some other frustrating experiences/bugs as well. It would be nice to see % of portfolio each asset in and account, which you can do on the web experience when viewing account details. It would also be nice have the option to set recurring transfers and this app mutual fund purchases which you can do on the web. Also, PLEASE enable 2FA with authentication apps, not SMS. Fidelity recently updated their mobile app which is, I think, what this app should aim for. I have fidelity for my work retirement account and I am impressed with Fidelity’s commitment to appealing to younger generations compared to other brokerages, including this app. I’m not looking for oversimplification like Robinhood, nor do I want a gamified experience, but a cleaner, brighter, more enjoyable experience is possible. Please invest more in the design of your web and mobile apps!

by Wolverineapps

I'm a penny stock trader, and I absolutely love Charles this app. It's a great Brokerage and I love how there are no fees for OTC stocks. However, PLEASE allow users on Schwab to see more than the hundredths place with stocks on their order status page, trading page, ETC. When you are reading penny stocks, the smallest changes in numbers make a huge difference. I hate how this app rounds all the prices to the hundredths place. It makes it incredibly hard to keep track of prices of stocks at the current moment, or prices of stocks that I have purchased. The only place it shows past the hundredths place with your order history is in your emails. PLEASE, do not round the stocks to the hundredths place. It is incredibly annoying for penny stock traders, and I have made mistakes with trading solely for this reason. Once this is fixed, I'll happily give my favorite brokerage a five star rating. Thanks for listening to your users.

by Bleedz""

I can not stress enough how impressive Charles this app has been in every way, and I have been with many different banks. When I inherited my brokerage account, everyone at this app treated me like family right away. Anytime I had a question or wanted to do something over the phone, the customer service was always outstanding. I do believe they lead the trading industry, because when Chuck started it, he did it for the people, not for himself. I believe they have the perfect balance of traditional face to face or over the phone service along with the leading technology for online trading. When they informed me they did checking accounts also, I immediately switched them to my main banking institution. Best financial decision I’ve ever made. With their fewer branches than most banks, they compensate greatly with their online services. Check deposits are posted to your account sometimes within minutes! I’m not one to write reviews for companies at all, but after all the trouble I’ve been through with my other banks, Charles this app really deserves a 5 out of 5. I can’t say I have ever had a bad experience with them! A++++

by Jaybug38457133

When I first switched to this app I was a little nervous. Online ONLY??? What if I need help?! My old mobile banking app sucked! Is this the worst choice ever??? But I took a chance because I hated my old bank and live half the year on opposite ends of the country and was struggling to find a bank with adequate locations in both Idaho and Maryland 😂
Best. Choice. Ever. Their customer service is the easiest and most helpful customer service I’ve ever (across any brand or company EVER) interacted with! I’ve never had any problems with Schwab ! They make mobile banking so easy and so simple! this app took banking and turned it from a hassle, anxiety producing, pain in my rear into something I never have to worry or think twice about. Schwab is so easy, so simple, and their customer service can help you with any problem you have.

by ThunderRemedy

I have been with Charles this app for almost a year now and I got to say it has been good and honest for me. With a combination of banking, retirement and investing you can trust them with your life savings. Charles this app has been in the game for a long time now and they have a top tier online platform. The only issue I see with them is the dated UI, especially with Schwab . But by no means is it difficult or a pain to use. It is by far one of the smoothest experiences I have had with a banking app. I believe if they update their user interface and do fractional shares with most of the market and ETFs they can attract more younger individuals and help them tackle this crazy economy with ease. I don’t live anywhere near one of their branches but considering I direct deposit my paycheck and most money is wired or sent digitally these days, this app has done a fantastic job with keeping up with the times compared to most banks. I can’t wait to see what comes next after the TD merger. But I’m definitely seeing myself sticking with them for life.

by Test Ees

Great app!

Please add the ability to see auto-updating premarket and after hours price quotes right in Schwab , similar to what the CNBC app has. That’d be amazing if it also showed my personal account day changes during as many of those pre/post hour changes as well. I’ve noticed the this app website on my computer has no price quote auto-update option, and that’d be great functionality to add!

I’d love to be able to set stock price alerts and get a push notification with a unique tone. Also, when I click on that notification, I’d like to be taken directly to the trade screen where I can potentially place an order.

I wish the order status tab would stay on whatever filter I last set it to. Typically, I only want to see the open orders, but I’m often presented with everything and have to keep switching it back to just open orders. My filter is definitely always reset if I’ve just made an order and click the order status button on the order confirmation screen, but if I exclusively use the orders tab at the bottom, my open orders filter does seem to stay intact.

I think you should get rid of the device only watchlist, and have all lists cloud syncing. I’d love for Schwab to remember the last list I was viewing and always go back to the most recent one. If I haven’t checked a stock price in like 30 minutes and open Schwab , it always goes back to the device watchlist and I have to keep switching it back to the one I’m interested in.

by Kuncca

Will no longer allow mobile check deposit. I have a brokerage, checking and savings account. Normally after clicking on deposit I am prompted to choose which account to deposit check. Now instead I and prevent d from depositing by an error message “You do not have any this app brokerage accounts eligible for mobile deposit” I do not need or want to be able to deposit to my brokerage account, I use my this app bank accounts. I was able to deposit checks recently but since latest update, now cannot. Fail.

After installing latest update Touch ID is no longer setup for this app app. Was required to login manually using username/password and re-enable, however after do so the apps returned an error message saying that the phone’s passcode has to be 6 digits. So basically the Touch ID that worked yesterday, no longer works today. No mention of this in the release note for this update. For multiple reasons I cannot modify the phones passcode settings. I guess I’ll just not use the this app app now due to lack of Touch ID. Thanks for the lack of notice on this version change this app.

by MH2797

Edit: You can add an external account for ACH transfers from Schwab now. It actually works well, just like the website, verifications and all.

Schwab is quite minimalistic, which has its ups and downs. Everything is displayed clearly and simply. You can see balances, transactions, etc. Placing a trade and mobile check deposit work perfectly. Features for the debit card, including custom notifications, the ability to lock/unlock, and setting a travel notice are very welcome additions.

Certain limitations can be rather annoying:

You can add a biller and pay them with bill pay, but you can’t manage or set up autopay and ebills from Schwab . Adding a biller is easier to understand on the website than in Schwab .

You can not set up, manage, or otherwise even know of wire transfers from Schwab .

Research is split up between the “watchlist” tab, the “markets” tab, and the overall ability to search for a symbol or company name. Comparisons aren’t possible.

All in all, Schwab is very much functional, but lacks a few features and design elements that I think should be included in the VERY near future given how much people rely on mobile devices in this day and age.

by Gilamath

I primarily use this app’s Investor Checking account, mostly as an initial landing spot for income that is then funneled to my savings and investing accounts. Schwab is a useful way of looking over information on the go (I usually use my iPad for mobile banking) and can do much of what you need on a daily basis. The only frustration is that a few functions are not available on Schwab , only on the website, and which functions are and are not available is unintuitive. For instance, I couldn’t link to an external bank account from my app, even though the tab from where I would have to link it exists on Schwab just like it does on the website. But, once the account is linked, I can manage cash flow easily through Schwab . I wish Schwab would gain some of this minor functionality, or else more predictably exclude features. Otherwise, Schwab is great. It does most everyday tasks, is clean and efficient, and makes life easier. 9/10

by NeedToTryAgain

The investment and research of investments are great in Schwab . However, the checking account is not, it is very slow to show new purchases, in pending or posted status, it also removes the pending withdrawal just before it posts, bouncing your available balance back up, for example, you make 3 swipes for $25 each today, for the next day or two it is in pending, ad every other banking system; thanks to the crappy money movements of the banking system as a whole. Then on day 2 or 3 that amount should be posted to the account, but instead the this app account removes it entirely from the account page, then when it closes your account then shows he remaining balance. Every other bank I have, shows it pending or posted, never disappearing in the movement, thereby making it easy to calculate your available balance.

by Jellazjjjjjjj

Charles this app is in excellent company and has it strong points however they need to adapt to changing times in regards to technology. If Charles this app would consistently update their apps desktop website and other aspects in regards to technology they would be an almost perfect company they seem to be slow to change which is definitely something that detracts from the customer experience Schwab is not bad but definitely could be much much better they have not even updated 2018 copyright from last year which means they have not fixed many bugs that are clearly in Schwab I hope Charles this app will adapt to changing times and improve its customer interface technologically speaking if they do I definitely will stay with them as a customer.

by Fix Face Id

I like the info Schwab provides for my Roth IRA account and have been a loyal customer of this app for 6yrs now. However, the enable face id feature does not work for me in the security settings. I just bought an iphone XS. I can enable face id in every other app that allows it except for this one. It takes me through an endless loop where it has you log in again after you enable face id and create a 6 digit passcode. Then Schwab will disable the enabling of face id on its own after you have entered your credentials plus 6 digit passcode. So when you try to log back in it will ask you to enter your 6 digit passcode instead of just using face id as you requested. This makes using Schwab more difficult than it needs to be in my opinion. I hope a fix will be coming for this.

by Trockne

The site is pretty good. I have been a this app client for 3 decades. It’s been fun to watch all the changes. I got restricted because I was trading in and out and broke some weird rule. That was a bummer. Now I can only trade with settled cash. Kinda like taking a walk with ankle weights on. Probably my bad because I’m not at all a margin guy, so I want to give this app the highest rating but also say it’s no trading garden of Eden. For example I remember when this app rated Enron with 5 stars and so I bought it. Of course we all know that story, so I switched my strategy to make this app ratings a contrarian indicator and that strategy has been as good as any. I’m grateful to this app for all their help and hope to be a valued member of their family for the long run. Thanks

by BarbPsichos

I’ve used this app since the 80s. I believe that it’s your money and (as Mother used to say “ if you don’t manage it, no one else will”. Since the beginning, Charles this app has followed this philosophy! When the high yield checking was offered, I jumped on the bandwagon earning 7% initially (initially, but now it’s much lower) and never had to watch the ATM fees. Using the card to get money all over the world has never been a problem, even in remote Angor Wat in Cambodia or in Ulam Batar, Mongolia.
Thank you, Charles this app for encouraging everyone to manage their own money by offering the tools to do just that. I am often on my this app soap box to any youth I encounter and they’ve thanked me and will continue to do so in the future when they realize their Roth’s advantages. Love the “own your tomorrow” That’s it for now!

by Painpa

After seeing tons of “investment” commercials on generic television for many years, I decided to check out my options and ultimately move my banking to a brokerage who offered multiple functioning areas that were useful to me, not just for investing. Charles this app has come through as an elitist in the field. I could not be happier with my checking, savings, and stocks, nor the assistance and customer service I experience on a day-to-day basis. I am not a person of wealth, I am not a person with financial stability, I am near poverty level, but find the satisfaction I need with Charles this app for my simple banking needs. I often refer friends and family to CS and boast about my experience. I would recommend them to everyone! Thank you!

by Jnier19

A lot of people rating Schwab have an issue with changing their passcode from 4 to 6 digits, but if I’m banking on my phone I’d rather use a stronger passcode so if my phone gets stolen, my financial information is safe. What’s the problem with adding 2 digits?

Some criticisms are fair though: the gains/losses section should update more frequently and Schwab crashes more often than I’d like. Still, this is my go-to app. Much better than having to go to the actual website. Furthermore, the market summaries are updated frequently and really do a good job of giving investors a quick look into what the stock market is doing. Having easy access to the stock research PDFs is also really convenient and allows inexperienced investors to accurately assess whether they should buy or sell.

by Jon-1223

Either this app doesn’t know or doesn’t care that their app is glitchy, slow, with pages that are sticky, and in general is pretty pointless. It has limited info, functionality, and poor data update speeds. If you’re using Schwab for something important, such as moving money, trading, or transfers DO NOT use it. I would strongly recommend using the website or calling them for these. I’ve had numbers messed up, incorrect info passed through, and generally takes 5-10 minutes to complete a trade due to slow data load times, sticky pages, and Schwab constantly asking me would I like to review it. Initially believed some of these issues were a connection or device but tried with different devices at home and on the go. Similar negative results.

by Jaybird201

I’ve been a client for over 10 years. I used to bank with a wonderful credit union (Navy Federal) and invest with a wonderful brokerage (Vanguard).

Why switch to this app? this app somehow manages to provide the same best-of-breed products and quality of service as non-profit organizations, all under one roof. It’s the best of banking and brokerage in one. I say “the same” but lately they’ve been raising their game with more features and lower costs.

I didn’t have to compromise on a single thing when I switched. And I can’t emphasize enough how convenient it is to have all of my accounts in one place.

And they continue to up their game when they’re already ahead. Their app is the best around. They continue coming out with more fee-free, low-expense-ratio ETFs, a credit card with solid rewards, intelligent portfolios to provide parity of features with Betterment.

Where other companies rest on their laurels and eventually stagnate, this app continues to elevate their game by staying focused on delivering value to their customers. Keep up the great work this app, and I’ll be a customer for life.