Charles Schwab has been named the top online brokerage firm by
Investor’s Business Daily (IBD). In its 11th annual report of the
Best Online Stock Brokers, Schwab ranked first in seven of the 18
performance categories: Customer Service, Investment Research,
Timely Information on Market Shifts, Incentives/Discounts/Pricing,
Up-to-the-Minute Data on Inflation & Other Market Influences,
Availability of Account Types, and Trade Ideas for a Down Market.
Companies named to the list were selected based on objective data
from more than 3,446 investors.
“Investors today have a wide range of choices and high
expectations when it comes to their financial partner,” said
Jonathan Craig, Managing Director, Head of Investor Services &
Marketing at Charles Schwab. “This recognition is especially
gratifying to see because it is derived directly from conversations
with clients who experience Schwab every day. These results are a
testament to our ‘through clients’ eyes’ strategy and our ability
to provide the great service, value, and innovative solutions
investors deserve – at low costs. As we bring together the
strengths of Schwab and TD Ameritrade, clients will have an even
broader array of resources to help them pursue their financial
goals, backed by our long-standing commitment to provide the best
experience in investing, trading and wealth management.”
Schwab is the only broker to place in the top three in Overall
Customer Experience in all 11 years of the survey’s history. In the
2023 ranking, Schwab also ranked in the top three in the following
sub-categories in the IBD report: Portfolio Analysis & Reports,
Coverage of Pre-Market/After-hours Trading, Options Trading
Platform, Trade Ideas, and Educational Resources.
TD Ameritrade, which Charles Schwab acquired in 2019, ranked No.
3 overall and earned top honors in the following performance
categories: Trade Execution Speed/Price, Website Security, Equity
Trading Platform, Site Performance, Options Trading Platform and
Educational Resources. Schwab will begin transitioning TD
Ameritrade accounts in February and plans to transition the vast
majority of accounts to Schwab by the end of the year.
“IBD congratulates Charles Schwab for consistently ranking among
the top overall brokers since the Best Online Brokers report first
launched 11 years ago,” said Susan Warfel, Managing Editor at IBD.
“Schwab’s clients value the services it provides, made clear by the
firm’s high ratings from survey respondents across a wide range of
categories.”
Susan Warfel and IBD are not clients of Schwab and were not
compensated by Schwab for their comments. The experience described
may not be the experience of all clients and is no guarantee of
future performance or success. IBD’s complete 2023 report on the
Best Online Stock Brokers is available at
Investors.com/BestOnlineBrokers. Schwab paid a licensing fee for
use of this award and logos.
Investor’s Business Daily 2023 Best Brokers
Methodology
IBD again collaborated with its respected polling partner,
TechnoMetrica Market Intelligence, to measure investor sentiment
toward brokers' performance in a number of critical service areas.
Since 2012, IBD has asked investors to rate their primary online
broker based on the most important and desirable broker attributes.
This year's study follows the two-phase methodology employed in
previous years. Both phases use online surveys to collect data.
Phase I, conducted between August and September 2022, examined a
total of 29 different attributes to determine which features and
services offered by online brokers are most important to investors.
Based on these results, the attributes were narrowed to 18 and
assigned weights to compute the Best Overall Experience Index for
each broker. The attributes for the 2023 Best Online Brokers were
(in order of customer importance): Trade Execution Speed/Price,
Website Security, Equity Trading Platform, Site Performance,
Customer Service, Investment Research, Research Tools, Mobile
Trading Platforms/Apps, Portfolio Analysis & Reports, Timely
Information on Market Shifts, Coverage of Pre-market &
After-hours Trading, Incentives/Discounts/Pricing, Options Trading
Platform, Trade Ideas, Educational Resources, Up-to-the-Minute Data
on Inflation & Other Market-influencing Statistics,
Availability of Account Types and Trade Ideas for a Down
Market.
Moving into Phase II (September to November 2022), the study
measured consumers' experience and satisfaction with their primary
online broker based on these 18 specific attributes. To qualify for
ranking on the Best Online Brokers list, a broker must have had at
least 125 customers participate in Phase II. Seven brokers met this
threshold: Charles Schwab, Fidelity, TD Ameritrade (a subsidiary of
The Charles Schwab Corporation), E-Trade Financial (part of Morgan
Stanley), Vanguard, Robinhood and Interactive Brokers.
Disclosures
Investing involves risk including loss of principal.
About Charles Schwab
At Charles Schwab, we believe in the power of investing to help
individuals create a better tomorrow. We have a history of
challenging the status quo in our industry, innovating in ways that
benefit investors and the advisors and employers who serve them,
and championing our clients’ goals with passion and integrity.
More information is available at aboutschwab.com. Follow us on
Twitter, Facebook, YouTube, and LinkedIn.
The Charles Schwab Corporation (NYSE: SCHW) is a leading
provider of financial services, with 33.8 million active brokerage
accounts, 2.4 million corporate retirement plan participants, 1.7
million banking accounts, and approximately $7.05 trillion in
client assets. Through its operating subsidiaries, the company
provides a full range of wealth management, securities brokerage,
banking, asset management, custody, and financial advisory services
to individual investors and independent investment advisors. Its
broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD
Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC,
www.sipc.org), and their affiliates offer a complete range of
investment services and products including an extensive selection
of mutual funds; financial planning and investment advice;
retirement plan and equity compensation plan services; referrals to
independent, fee-based investment advisors; and custodial,
operational and trading support for independent, fee-based
investment advisors through Schwab Advisor Services. Its primary
banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an
Equal Housing Lender), provides banking and lending services and
products. More information is available at www.aboutschwab.com.
TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are
separate but affiliated companies and subsidiaries of TD Ameritrade
Holding Corporation. TD Ameritrade Holding Corporation is a wholly
owned subsidiary of The Charles Schwab Corporation. TD Ameritrade
is a trademark jointly owned by TD Ameritrade IP Company, Inc. and
The Toronto-Dominion Bank.
(0123-3YDJ)
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version on businesswire.com: https://www.businesswire.com/news/home/20230130005633/en/
Michael Cianfrocca Charles Schwab (415) 667-0344
Michael.Cianfrocca@schwab.com
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