Opening a Charles Schwab account is a straightforward process, whether you use the Schwab mobile app or the desktop website. A brokerage account allows you to buy and sell investments such as stocks, ETFs, bonds, and mutual funds.

This guide walks you through the process of opening a brokerage account, completing the application, linking your bank account, and making your first deposit.

How to Open a Charles Schwab Account

To get started, download the Charles Schwab app and open it. You can also complete the process from a computer, but this guide focuses on the mobile app.

When you first open the app, you may not immediately see an option to create an account. Instead, you will land on the market screen.

Tap More in the bottom-right corner of the screen. From there, select Open an Account near the top of the menu.

You will then see the different account types available through Schwab, including:

• Brokerage accounts
• Retirement accounts
• Automated investing accounts
• Checking accounts
• Custodial accounts
• Small business accounts
• Estate planning accounts

For a standard investment account, select Brokerage.

Choose an Individual or Joint Brokerage Account

Schwab offers individual and joint brokerage accounts.

An individual brokerage account belongs to one person. A joint brokerage account is shared with another person, such as a spouse or partner, with both account holders having access.

If you are opening an account for yourself, select Individual Brokerage.

Schwab also lists the costs and features of the account during the application process. Depending on the account and services you use, Schwab advertises $0 online equity trades, no fee to open or maintain a brokerage account, and no account minimum for this type of account.

You can open a brokerage account without depositing money immediately and fund it later.

What You Need to Open a Charles Schwab Account

Before starting the application, have the necessary personal information available. Schwab will ask for information such as:

• Your legal name
• Date of birth
• Social Security number
• Home address
• Email address
• Mobile phone number
• Employment information, if applicable

If you are employed, you may also need your employer’s name and mailing address.

Enter your name exactly as it appears on your government-issued identification. Using a nickname or shortened version of your name can create problems during identity verification.

Add a Referral or Offer Code

Before starting the application, Schwab may give you an opportunity to enter an offer or referral code.

Referral and promotional offers can change over time, so check the current terms before relying on a particular bonus. Some offers require a qualifying deposit or other conditions.

If you have a valid offer code and meet its requirements, enter it during the application. Otherwise, you can skip this step.

Complete Your Personal Information

Once you select Get Started, you will begin the application. A progress bar at the top of the screen shows which section you are completing.

Start by entering your personal information, including your:

• First, middle, and last name
• Home address
• Date of birth
• Social Security number
• Email address
• Mobile phone number

Schwab uses this information to verify your identity and comply with regulatory requirements.

You will also need to verify your phone number or email address. Schwab can send a one-time verification code by text message, email, or phone call. Enter the six-digit code when prompted.

Create Your Schwab Login

Next, create your login credentials.

Schwab uses a Login ID rather than a traditional username. Your Login ID must meet Schwab’s current requirements, and you will also need to create a password that meets the required security standards.

Choose a strong password that does not contain easily guessed information such as your name or birthday. A password manager can make this easier.

You will also be asked to select a security question and provide an answer that you can remember later.

Enter Your Home Address and Add a Trusted Contact

Enter your current residential address when prompted. Make sure the information is accurate and matches the information used for identity verification.

Schwab may also ask whether you want to add a trusted contact.

A trusted contact is someone Schwab can contact if it has concerns about possible financial exploitation or another situation involving your account. A trusted contact does not automatically receive access to your account or permission to make trades or move your money.

Adding one is optional.

Complete the Regulatory Questions

The next part of the application covers information Schwab is required to collect for regulatory purposes.

You may be asked why you are opening the account and where the money you plan to invest will come from. For example, sources of funds can include:

• Salary or wages
• Savings
• Retirement funds
• Other investments

Answer these questions based on your actual circumstances.

You will also provide your employment status. Depending on your selection, Schwab may ask for additional information about your occupation and employer.

You do not necessarily need to be employed to open a brokerage account. Your eligibility depends on Schwab’s requirements and the information you provide.

Choose Your Account Features Carefully

Schwab may ask whether you want to enable additional features such as margin, options trading, or thinkorswim access.

These choices affect how you can use your account, so make sure you understand what each feature does before enabling it.

Margin

A margin account allows you to borrow money from your brokerage to purchase investments. This can increase your purchasing power, but it also increases your potential losses and can create additional obligations if the value of your investments falls.

If you do not understand margin or do not intend to borrow money for investing, you can choose not to add it when opening your account.

Options Trading

Options are contracts with specific terms and expiration dates. They can involve significant risks and are different from simply buying and holding stocks or ETFs.

If you are not planning to trade options, you do not need to enable options trading when you open your account.

thinkorswim

thinkorswim is Schwab’s trading platform designed for more advanced trading and analysis.

You can generally add eligible features later, so you do not need to enable every available feature when you first open your account.

Review Your Application

Before submitting your application, Schwab will show you the information you entered.

Review everything carefully, including your:

• Name
• Address
• Social Security number
• Employment information
• Contact information
• Account selections

If you find an error, correct it before submitting the application.

You will then be asked to review and accept Schwab’s agreements and disclosures. Read the important sections before agreeing, particularly because the account will hold your money and investments.

Once you have completed the required agreements, submit your application.

Wait for Your Charles Schwab Account to Be Approved

Some applications may be approved quickly, while others require additional verification.

If Schwab needs more information, it may contact you by email or phone. Make sure the contact information in your application is accurate and check your messages after submitting your application.

Once your Charles Schwab account is approved, you can move on to funding it.

How to Fund Your Schwab Account

After opening your account, you need to deposit money before you can begin investing.

In the Schwab app, tap More in the bottom-right corner and select Move Money. Then choose Transfer Funds.

If you have not connected a bank account yet, you will first need to add one.

How to Link Your Bank Account

From the transfer screen, select External Accounts.

Tap Add Account and choose the Schwab account you want to connect to your bank account. For a newly opened brokerage account, this will typically be your individual brokerage account.

Schwab will ask you to confirm that you are the owner of the external bank account.

Select whether the bank account is a checking or savings account, then enter your:

• Bank routing number
• Bank account number
• Account number confirmation

You can usually find these details through your bank’s mobile app or online banking.

Double-check the numbers before submitting them.

Schwab may verify the bank account instantly. If instant verification is unavailable, it may use small trial deposits to verify the account. In that case, you will need to check your bank account for the deposits and enter the amounts into Schwab.

How to Make Your First Deposit

Once your bank account is linked and verified, return to the Transfer Funds section.

Select your bank account under From and your brokerage account under To.

Enter the amount you want to deposit. If this is your first deposit, select a one-time transfer rather than a recurring transfer.

Review the transfer date and other details, then submit the transfer.

Schwab will show information about when your deposited money becomes available for different purposes. Depending on the type of transaction and Schwab’s current policies, some funds may be available for investing before the entire deposit has fully cleared.

Always check the availability information displayed in your account before making a trade.

Start Investing After Funding Your Account

Once your money is available, you can use your Charles Schwab account to purchase eligible investments such as stocks, ETFs, bonds, and mutual funds.

If you are new to investing, you do not need to activate every advanced trading feature immediately. You can start with the basic brokerage account and learn how the platform works before deciding whether additional features are appropriate for you.

Opening and funding a Charles Schwab account can be completed in a few main steps: choose your brokerage account, provide your personal information, complete Schwab’s required questions and agreements, link your bank account, and make your first deposit.