Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Charles Schwab, founded in 1971, stands as a highly trusted online broker with a Trust Score of 99 out of 99 according to ForexBrokers.com. Being publicly traded and operating as a bank, it holds five Tier-1 licenses, aligning it with the highest standards of trust and regulation. Schwab's established reputation and regulatory compliance contribute significantly to its credibility in the financial sector.
In contrast, Alpari, founded in 1998, is a privately owned broker with no banking status and lacks Tier-1 licenses. Its Trust Score of 68 reflects a higher risk category. Alpari does not possess any Tier-2 licenses either. For those seeking a broker with strong regulatory backing and lower risk factors, Charles Schwab may offer a more reassuring option compared to Alpari.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Year Founded | 1971 | 1998 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 0 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Charles Schwab and Alpari for their commissions and fees, both brokers receive a commendable rating of 4 out of 5 stars from ForexBrokers.com. Charles Schwab offers a competitive edge by not requiring a minimum deposit for its primary brokerage account types, appealing to forex traders thanks to its accessible Schwab One and Schwab Global accounts. These accounts grant access to the thinkorswim platform, allowing for forex trades where costs are tied to the bid/ask spread. Notably, Schwab doesn't charge commissions for forex trading; during October 2024, the average spread on the EUR/USD pair was 1.35 pips, regarded as on the higher end of industry standards. Schwab also facilitates trading across twelve international markets with some conversion fees, ranging from 0.2% to 1% based on account balance size, accommodating traders dealing with multiple currencies. Schwab's overall ranking for commissions and fees places it at #24 among 63 brokers.
Alpari shares the same 4-star rating from ForexBrokers.com, yet information on average spread data remains unavailable, distinguishing it in this evaluation. Ranked #41 out of 63 brokers, Alpari's position reflects a less prominent standing compared to Schwab's in the commissions and fees category. The lack of explicit average spread data might pose challenges for traders seeking transparency in trading costs. However, Alpari remains a viable option for forex traders who prioritize other factors, such as trading platforms or customer support.
In summary, while both Charles Schwab and Alpari carry a solid 4-star rating for commissions and fees, Schwab stands out with its detailed account options and capacity to trade internationally, albeit with somewhat higher average spreads. Traders seeking a broker with no commissions and the ability to handle multi-currency transactions might find Schwab's offerings attractive, while Alpari may appeal to those less concerned with disclosure on spread averages.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available at Charles Schwab and Alpari, there's a noticeable difference in offerings and opportunities for traders. Charles Schwab stands out with an impressive 40,000 tradeable symbols, including 73 forex pairs. In contrast, Alpari provides access to just 105 tradeable symbols, with 46 of those being forex pairs. Charles Schwab allows its clients to dive into exchange-traded securities on both U.S. and international exchanges, enabling the purchase of stocks like Apple and Vodafone. Alpari, on the other hand, only grants access to international exchange-traded securities. Both platforms offer forex trading as CFDs or spot contracts, as well as cryptocurrency derivatives, but neither offers the ability to buy actual cryptocurrencies.
The capabilities of Charles Schwab and Alpari further diverge when considering their broader investment features. Charles Schwab, highly rated at five stars for its range of investments, is ranked 5th out of 63 brokers by ForexBrokers.com in the category. The firm does not support copy trading, focusing instead on extensive market access. Meanwhile, Alpari, with a three-star rating, is positioned at the bottom of the ranking. It does offer copy trading, appealing to clients looking to replicate the strategies of experienced traders. Ultimately, Charles Schwab delivers a significantly wider investment range and higher market access for traders compared to Alpari.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 105 |
| Forex Pairs (Total) | 73 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, Charles Schwab and Alpari both offer in-house developed proprietary platforms, providing users with robust simulation options including free virtual demo accounts. Both brokers support Windows-based desktop trading alongside web-based platforms, ensuring flexibility for diverse trading experiences. While both platforms allow trading directly from a stock chart, Schwab shines in the customization arena with 580 columns available for watchlists—significantly more than Alpari’s offering of 7. One area where Alpari holds an advantage is the support of popular third-party platforms, MetaTrader 4 and MetaTrader 5, which Schwab does not provide. Additionally, Alpari has copy trading capabilities, a feature absent in Schwab's services.
Despite these differences, Charles Schwab receives great accolades, earning a 5-star rating for its trading platforms and tools. This excellent rating is supported by its high functionality of chart drawing tools and a broad range of technical indicators. In comparison, Alpari, with its own strengths such as copy trading and MetaTrader compatibility, earns a strong 4-star rating. However, in a broader analyst ranking, Schwab takes the lead at 5th out of 63 brokers, whereas Alpari stands at 55th. This positions Schwab as a superior choice for traders prioritizing versatility and advanced features in trading platforms and tools.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, Charles Schwab and Alpari both provide options for iPhone and Android users. Both platforms allow users to receive stock or forex price alerts, as well as create watchlists with real-time quotes. However, Charles Schwab stands out with its ability to sync watchlist symbols across devices, while Alpari does not support this feature. In terms of charting capabilities, Charles Schwab provides a comprehensive 374 technical studies and offers features like trendline drawing and multiple time frame viewing, all of which are supported by Alpari with only 30 technical studies available. Charles Schwab also ensures that any drawings on a chart are auto-saved, a function that Alpari lacks.
The user ratings and rankings offer additional insights into the overall performance and user satisfaction for these apps. Charles Schwab receives a full 5-star rating for its mobile trading app, landing in the 6th position out of 63 brokers on ForexBrokers.com. In contrast, Alpari receives a slightly lower rating of 4 stars and is ranked 56th. These assessments reveal Charles Schwab as a stronger contender in providing a more feature-rich and user-friendly mobile trading experience.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and Alpari present distinct approaches to market research, each catering to different trader preferences. Charles Schwab shines with daily market commentary and a highly-rated research offering. It also provides forex news from reputable sources like Bloomberg and Reuters. While lacking specialized tools from Autochartist and Trading Central, Schwab compensates with an economic calendar that keeps traders informed about global economic events. Its research strength is further validated by a 5-star rating and a high ranking of fourth out of 63 brokers in the Research category by ForexBrokers.com.
Alpari, on the other hand, offers a unique advantage with its Autochartist tools, catering to those who value detailed technical analysis. Like Schwab, Alpari ensures access to forex news from top-tier sources and provides an economic calendar. However, it doesn't quite match Schwab's overall research capabilities, receiving a lower rating of 3 stars and ranking 57th among brokers according to ForexBrokers.com. Both brokers lack sentiment-based trading tools and market insights from Trading Central, but their offerings highlight different strengths for traders choosing between them.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, comparing Charles Schwab and Alpari reveals some notable differences. Both brokers provide a minimum of ten educational pieces focused on forex or CFDs, including articles, videos, and archived webinars. However, Charles Schwab stands out by offering monthly live educational webinars, whereas Alpari does not offer any live webinars at all. Additionally, Charles Schwab provides a searchable archive of past webinars, a feature Alpari lacks. Both brokers cater to beginners with ten educational videos each, but Schwab further supports advanced traders with another ten videos dedicated to complex trading topics, a resource Alpari does not provide.
In terms of additional learning tools, both Charles Schwab and Alpari offer an investor dictionary containing over fifty investment term definitions. However, Schwab's comprehensive approach to beginner and advanced education is recognized with a 5-star rating for education, significantly higher than Alpari's 3-star rating. Consequently, Schwab ranks sixth out of 63 brokers in the Education category, while Alpari is placed at 48th according to ForexBrokers.com. These rankings highlight Schwab's stronger commitment to education for users at different stages of their trading journey.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than Alpari. Charles Schwab finished with an overall rank of #6, while Alpari finished with an overall rank of #58.
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 broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 68 |
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Both Charles Schwab and Alpari do not provide the option to purchase actual delivered cryptocurrency, yet they both offer the ability to trade cryptocurrency derivatives.
When comparing online broker deposit and withdrawal options, Charles Schwab supports ACH/SEPA transfers and bank wires but lacks options like PayPal, Skrill, and Visa/Mastercard, whereas Alpari offers Visa/Mastercard, Skrill, and bank wires, but does not support ACH/SEPA transfers or PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” 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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0 of 5| Overall Rating | Charles Schwab | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | Alpari | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | Charles Schwab | Alpari | |
|---|---|---|---|
| Trust Score | 99 | 68 | |
| Year Founded | 1971 | 1998 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 0 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 105 | |
| Forex Pairs (Total) | 73 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Charles Schwab | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review |
| Overall | Charles Schwab | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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