Charles Schwab Review crypto broker 2024

Our veredict

Charles Schwab offers a range of investment options to gain exposure to the cryptocurrency market, including cryptocurrency-related ETFs, mutual funds, and futures contracts. However, it does not support direct trading of cryptocurrencies such as Bitcoin or Ethereum. Schwab’s primary strength lies in its comprehensive investment services and customer support. Investors can access various crypto-related financial products like the Schwab Crypto Thematic ETF, which provides exposure to companies benefiting from the development of cryptocurrencies and blockchain technology. For those with futures accounts, trading Bitcoin and Ethereum futures on platforms like the Chicago Mercantile Exchange (CME) is available.

Despite its robust offerings, Charles Schwab has limitations for those seeking direct cryptocurrency trading. Clients must rely on third-party exchanges for buying and selling cryptocurrencies, which can be inconvenient. Additionally, the platform’s high fees for options and futures trading may deter cost-sensitive investors. Overall, Charles Schwab is recommended for investors looking for indirect exposure to the crypto market through traditional financial products rather than direct crypto trading.

Pros

Diverse Crypto-related ETFs: Schwab offers a variety of ETFs that provide exposure to companies involved in cryptocurrency and blockchain technology.
Access to Cryptocurrency Futures: Investors can trade Bitcoin and Ethereum futures, providing opportunities for speculation on price movements.
Comprehensive Educational Resources: Schwab provides extensive educational materials to help investors understand the cryptocurrency market and related investment products.

Cons

4,5

Threenvest Score

Fees

3,6/5

Regulated

SEC, FINRA

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Why choose Charles Schwab?

Choosing Charles Schwab as your crypto broker offers several compelling advantages. First, Schwab’s established reputation in the financial industry ensures that you are working with a trusted and reliable platform. With over 50 years of experience, Schwab has a proven track record of providing high-quality investment services and customer support. This longstanding reputation can give investors confidence in the security and reliability of their investments.

Second, Schwab’s extensive security measures are a significant benefit. The platform employs advanced security protocols, including two-factor authentication and encryption, to protect your investments and personal information. This robust security infrastructure ensures that your assets are safeguarded against potential threats, providing peace of mind for investors.

Lastly, Schwab offers a wide range of cryptocurrency-related investment products, allowing for diversified exposure to the crypto market. Whether through cryptocurrency ETFs, mutual funds, or futures contracts, Schwab provides multiple avenues for investors to participate in the growing digital asset space. This variety enables you to tailor your investment strategy to your risk tolerance and financial goals, making Schwab a versatile option for crypto investing.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend Charles Schwab for those looking to gain exposure to the cryptocurrency market through traditional financial products. Schwab’s strong reputation, comprehensive security measures, and diverse investment options make it an excellent choice. While it doesn’t support direct crypto trading, its offerings like crypto-related ETFs and futures contracts provide a reliable way to invest in the growing digital asset space. This makes Schwab ideal for those who prefer a regulated and secure approach to cryptocurrency investing.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.