Is Charles Schwab day trading friendly?

freeman311122 said:
I did, they would not tell, that is why I want other people’s experience.
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For some reason, I do not believe you. A broker with whom you are looking to do business with as a new customer will not answer a simple question about if they limit the number of trades you could make in your situation?

I could call them tomorrow for you and ask them on your behalf.
 
Overnight said:
For some reason, I do not believe you. A broker with whom you are looking to do business with as a new customer will not answer a simple question about if they limit the number of trades you could make in your situation?

I could call them tomorrow for you and ask them on your behalf.
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you could call them now, they are open 24/7 . :)

I didn’t want to prove anything to you, I was just asking a question, you don’t have to believe me. But I wasn’t lying!
 
ajacobson said:
Traditionally Schwab has been more concerned with capitalization - not frequency. I worked at oX which was bought by Schwab and we had accounts trading well over any threshold, but very well-capitalized. Can't imagine how they did it without an api. The frequency stunned me. This was before free trading and two of the contra firms offered to commit dedicated MMs to the account.
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This is the best answer so far, I really appreciate! Anyone else has/had experience with Charles Schwab?
 
freeman311122 said:
you could call them now, they are open 24/7 . :)
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No no no. You never call a large American-based business that claims to be open 24/7 at night-time in the USA. Your call gets routed to an Indian call center, where they read from a script.

You need to speak with reps from the company, not with Hindi assholes who moonlight as the folks scamming you on the phone during the day claiming you owe the IRS thousands of dollars, credit-card number please so we can resolve your back-taxes and penalties.
 
Overnight said:
No no no. You never call a large American-based business that claims to be open 24/7 at night-time in the USA. Your call gets routed to an Indian call center, where they read from a script.

You need to speak with reps from the company, not with Hindi assholes who moonlight as the folks scamming you on the phone during the day claiming you owe the IRS thousands of dollars, credit-card number please so we can resolve your back-taxes and penalties.
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Okay, you are so lucky that I don’t have Indian heritage! :)But others may do, I wouldn’t have said that. Anyway, like you said earlier, it is internet.
 
freeman311122 said:
Okay, you are so lucky that I don’t have Indian heritage! :)But others may do, I wouldn’t have said that. Anyway, like you said earlier, it is internet.
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Not to get too off track here, but I remember about a year ago I got a call from one of these dudes, and engaged him so deeply about how he was scamming, I asked "Why do you Indians keep trying to scam US citizens out of their money?"

The guy said, and this is no lie..."Because it is so easy to do so."

So, for shame on both cultures. Indians for doing it, and Americans for being dumb enough to fall for it.
 
Overnight said:
Not to get too off track here, but I remember about a year ago I got a call from one of these dudes, and engaged him so deeply about how he was scamming, I asked "Why do you Indians keep trying to scam US citizens out of their money?"

The guy said, and this is no lie..."Because it is so easy to do so."

So, for shame on both cultures. Indians for doing it, and Americans for being dumb enough to fall for it.
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Those kind of scams are nothing comparing to what this guy did!:)
https://en.m.wikipedia.org/wiki/Bernie_Madoff
 
freeman311122 said:
Hi, Anyone who has/had experience with Charles Schwab,

Does Charles Schwab welcome people day trade with them? I know TD ameritrade has a daily maximum order number of 390, It seems Fidelity does not like day traders at all, do you know if Charles Schwab has a maximum number of orders you can trade per day?

Thank you so much in advance!
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I'm not thrilled with them.

- I like how they have free trades; that's nice.
- I like their help system. Their chat gives you quick access to a service rep if you need it.
- I don't like their margin rates; they are quite high (6-7%) vs IB at about 2%
- Same for Shorting fees.
- I find their UX to be a little unintuitive. Maybe I'm just not used it but I find it to be rather clumsy.
--- For example, I can't quickly see and browse through my current open positions and charts. With IB I can just arrow key up and down.
--- They also have separate Account and Trade windows. I have to flip around a lot
--- Important things are buried a bit: behind tree widgets, on different screens. Seems it was designed by someone who didn't have that experience in the trenches.
--- I don't think they had day trading in mind when they built SSE.
- They don't have an API. :confused:
 
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kmiklas said:
I'm not thrilled with them.

- I like how they have free trades; that's nice.
- I don't like their margin rates; they are quite high (6-7%) vs IB at about 2%
- Same for Shorting fees.
- I find their UX to be a little unintuitive. Maybe I'm just not used it but I find it to be rather clumsy.
--- For example, I can't quickly see and browse through my current open positions and charts. With IB I can just arrow key up and down.
--- They also have separate Account and Trade windows. I have to flip around a lot
- They don't have an API. :confused:
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Thanks a lot for sharing your experience! I appreciate!
 
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