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CMC Markets vs Charles Schwab 2024

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Written by ForexBrokers.com

August 05, 2024

Is CMC Markets better than Charles Schwab? In our analysis of 23 international regulators across 62 of the best forex brokers, CMC Markets is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Charles Schwab is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating CMC Markets Charles Schwab
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review CMC Markets Review Charles Schwab Review
Broker Screenshots CMC Markets Charles Schwab
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation CMC Markets Charles Schwab
Trust Score info 99 99
Year Founded info 1989 1971
Publicly Traded (Listed) info Yes Yes
Bank info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-1 Licenses info 5 5
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) CMC Markets Charles Schwab
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info No Yes
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No Yes
New Zealand (FMA Authorised) info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-2 Licenses (Trusted) CMC Markets Charles Schwab
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments CMC Markets Charles Schwab
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 11925 40000
Forex Pairs (Total) info 156 73
U.S. Stock Trading (Non CFD) info Yes Yes
Int'l Stock Trading (Non CFD) info Yes Yes
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost CMC Markets Charles Schwab
Average Spread EUR/USD - Standard info 0.61 info 1.25 info
All-in Cost EUR/USD - Active info 0.51 info 1.25 info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info No Yes
Execution: Market Maker info Yes No
Funding CMC Markets Charles Schwab
Minimum Deposit info $0 $0
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info No No
Visa/Mastercard (Credit/Debit) info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes Yes
Trading Platforms CMC Markets Charles Schwab
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools CMC Markets Charles Schwab
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 11 580
Charting - Indicators / Studies (Total) info 79 374
Charting - Drawing Tools (Total) info 40 24
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading CMC Markets Charles Schwab
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 29 374
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research CMC Markets Charles Schwab
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education CMC Markets Charles Schwab
Education (Forex or CFDs) info Yes Yes
Client Webinars info No Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs CMC Markets Charles Schwab
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review CMC Markets Review Charles Schwab Review
Overall CMC Markets Charles Schwab
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review CMC Markets Review Charles Schwab Review
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CMC Markets vs Charles Schwab Comparison

Weโ€™ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare CMC Markets vs Charles Schwab.

Can I trust CMC Markets?

CMC Markets is publicly traded, does not operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). CMC Markets is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

Can I trust Charles Schwab?

Charles Schwab is publicly-traded, does operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Schwab is authorised by the following Tier-1 regulators: Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Is CMC Markets good?

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

Is Charles Schwab good?

Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the brokerโ€™s forex offering is still largely limited to what is available on thinkorswim.

What is the minimum deposit requirement for opening an account with CMC Markets?

To open a trading account with CMC Markets, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with Charles Schwab?

Charles Schwab requires a minimum deposit of $0 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. CMC Markets offers Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw) for banking, whereas Charles Schwab provides Bank Wire (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does CMC Markets or Charles Schwab offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that CMC Markets offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is CMC Markets or Charles Schwab safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both CMC Markets and Charles Schwab hold 5 global Tier-1 licenses. CMC Markets holds 1 global Tier-2 licenses, while Charles Schwab holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that CMC Markets and Charles Schwab have earned the same Trust Score (99).

Which trading platform is better: CMC Markets or Charles Schwab?

To compare the trading platforms of both CMC Markets and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, CMC Markets offers a better experience. With research, CMC Markets offers superior market research. Finally, we found CMC Markets to provide better mobile trading apps.

Hereโ€™s what trading platforms are available at CMC Markets:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

Hereโ€™s what trading platforms are available at Charles Schwab:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. CMC Markets offers MetaTrader 4 (MT4), while Charles Schwab does not. Forex traders also appreciate the ability to engage in social copy trading. While CMC Markets offers copy trading, Charles Schwab does not.

What can I trade with each broker?

CMC Markets provides traders 156 currency pairs (e.g., EUR/USD) compared to Charles Schwab's 73 available pairs. If you are interested in trading a full range of securities, Charles Schwab offers traders access to 40000 tradeable symbols, while CMC Markets offers access to 11925 tradeable symbols; so Charles Schwab offers 28075 more tradeable symbols than CMC Markets.

We found in our testing that CMC Markets offers a more diverse selection of investment options than Charles Schwab, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Cryptocurrency (Physical).

Overall winner: CMC Markets

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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