Global investment firm Charles Schwab is launching a range of services for UK investors.
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 (£20,265, €22,741) dollar minimum investment to use the platform. The platform allows UK investors to buy and sell US equities, bonds, and options.
Charles Schwab is also expanding its advice solution offers through the roll out of a managed account offering, Managed Account Select. The service offers a 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.
Also, to help UK investors deepen their understanding of the US market, Charles Schwab is offering a suite of trading tools and resources alongside the offerings. These include Schwab’s trading platform StreetSmart Edge, designed to help retail investors think like a professional trader. Other tools include Schwab Equity Ratings, which provide A-F grades that indicate Schwab’s 12-month outlook on over 3,000 US-traded stocks.
The service will work alongside its wealth management offering Schwab Wealth Advisory.
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.”