$0 commissions + satisfaction guarantee at Charles Schwab. For example, it has IRAs, custodial accounts, solo 401k plans, and trusts. Schwab offers a long list of tax structures that make investing tax-friendly. On the mobile app, there is a link to open a new account under the head-and-shoulders icon that appears in the upper-left corner. On the website, just look for the big orange button at the top to open a new account. The company’s website and mobile app both have convenient links to open a new account.

Perhaps best of all, opening a new brokerage account is quick and easy at Schwab. Amazingly, the brokerage house charges nothing for this helpful service. And Schwab has fixed-income specialists who will call you to provide any assistance you need. If you get lost, Schwab offers a lot of CD and fixed-income education on its website, which really helps to make smarter investment decisions. There’s a video that demonstrates how to use the tool, and it’s really easy to use. There’s a tool on the website to build a CD ladder with up to 5 CDs in a single trade. If anything goes wrong, Schwab has a satisfaction guarantee to back you up.Īnother advantage Schwab has over Merrill in the CD realm is a ladder builder. Online Treasury trades are commission-free, and many bond funds also have no transaction fees. Other fixed-income products at Schwab have very low trading fees if any at all. Secondary CDs are $1 each with a $10 minimum per trade. If you do decide to trade, commissions are super cheap. There is essentially no risk in this situation. So it’s possible to open a new brokerage account with a $0 deposit and try out Schwab’s software. One of the advantages of using Schwab for CD trading, besides its really user-friendly software, is that the brokerage firm charges no account fees and imposes no account minimums. It can be found on the website under the Research tab. We found over 200 of these securities during our research using Schwab’s CD screener, which is really easy to use. These are certificates of deposit that have already been purchased from the issuing banks but are being traded on the secondary market. Plus, Schwab customers can buy and sell secondary CDs. During our research, we found roughly double the number Merrill Edge offers. The highest APY on CDs at Merrill Edge was 5.25%, and the lowest was 4.25%.Ī larger list of brokered CDs is available at Charles Schwab.

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