Charles Schwab, one of the world’s largest investment brokers, with 33.6 million active brokerage accounts, is launching new services for UK investors, significantly expanding its potential customer base.
UK investors can now use the Charles Schwab investment platform to invest in US listed equities with $0 commission for online trades, no service fees, and a $0 minimum to open an account. Previously, investors were required to make a $25,000 dollar minimum investment to use the platform. The platform allows UK investors to buy and sell US equities, bonds, and options.
New managed account offering launched
Charles Schwab is also expanding its advice solution offers through the launch of a new managed account offering, Managed Account Select. This service offers a wide range of pre-designed investment strategies for a managed account that allows investors to focus on different goals such as balanced and large cap value, international growth, or fixed income.
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Combined with its Schwab Wealth Advisory that offers a personalised wealth management service tailored to investors’ goals, UK investors now have a choice to meet their US investing goals.
To help UK investors deepen their understanding of the US market, Charles Schwab offers a suite of trading tools and resources alongside these new offerings. These include Schwab’s trading platform StreetSmart Edge, designed to help retail investors think like a professional trader so they can take advantage of opportunities in the market.
Other tools include Schwab Equity Ratings which provide intuitive A-F grades that indicate Schwab’s 12-month outlook on over 3,000 U.S.-traded stocks. Schwab’s educational resources include exclusive webinars, in-person workshops, podcasts, and daily investor insights from the Schwab Center for Financial Research.
Richard Flynn, UK Managing Director at Charles Schwab, said: “Our new services are designed to help UK retail investors expand their investment options in the US market. We believe our platform provides investors with one of the most affordable and insightful ways to invest in American businesses. Our new $0 minimum investment opens up our services to all investors.”
The transaction volume, market capitalisation, and number of listed companies make the US market a unique and attractive option for international investors. Taken together, the New York Stock Exchange and NASDAQ comprise the deepest financial market in the world with close to 5,000 companies for investors to choose from including most major corporations and global brands.