Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs ATFX, 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, is a well-established online broker that offers clients the assurance of a high Trust Score rating of 99, as per ForexBrokers.com. This indicates that Schwab is highly trusted and secure in the eyes of industry experts. Being publicly traded and operating as a bank, Charles Schwab holds five Tier-1 licenses, underscoring its strong regulatory framework. Its longstanding presence in the financial market reflects a deep commitment to reliability and investor protection.
ATFX, on the other hand, started its journey in 2017 and has rapidly positioned itself as a trusted name with a ForexBrokers.com Trust Score of 85. While not publicly traded and not a bank, ATFX maintains a respectable standing with four Tier-1 licenses and two Tier-2 licenses. This blend of licenses portrays a careful adherence to regulatory standards, providing a level of trust and safety to its clients. Both brokers offer unique strengths suited for different investor needs, backed by their regulatory credentials.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Year Founded | 1971 | 2017 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 4 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Charles Schwab stands out by not requiring a minimum deposit for its primary brokerage accounts, making forex trading accessible for beginners. Schwab offers two main accounts for forex trading: the Schwab One account, which uses U.S. dollars for currency trades and requires a minimum trade size of 10,000 units, and the Schwab Global account, which allows trading in 12 international currencies with conversion fees ranging from 0.2% to 1%, depending on account balance size. Schwab does not charge commissions on forex trades, with costs being part of the bid/ask spread. As of October 2024, the average spread for the EUR/USD was 1.35 pips, slightly above the industry average. Schwab received a solid 4-star rating for its commissions and fees, placing #24 out of 63 brokers according to ForexBrokers.com.
In contrast, ATFX offers an alternative for traders who prefer different fee structures. Unfortunately, specific average spread data for ATFX is not readily available, leaving a gap for potential customers comparing costs directly. Despite this, ATFX secures a 3-star rating for its fees, indicating it may offer competitive commissions overall. However, it ranks #60 out of 63 brokers in the same category reviewed by ForexBrokers.com, suggesting there might be more competitive options available for cost-effective trading.
Overall, Charles Schwab provides a comprehensive set of features for traders interested in both U.S. dollar-based and international currency trading. With no commission charges and a transparent fee structure, Schwab is appealing for those starting or deepening their forex trading journey. ATFX offers another option for traders, though its lower rating and ranking could suggest that its fee advantages may not be as prominent or well-documented in comparison to Schwab.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Minimum Deposit | $0 | $500 |
| 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 | No |
| 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 offered by Charles Schwab and ATFX, it's clear that both platforms provide a variety of trading opportunities, though they cater to slightly different needs. Charles Schwab stands out with an impressive offering of 40,000 tradeable symbols, including 73 forex pairs, and access to exchange-traded securities on both U.S. and international exchanges. This makes it an attractive option for investors looking to explore a wide array of investments. In contrast, ATFX offers 150 tradeable symbols and 44 forex pairs, alongside CFD options. However, it lacks the ability to trade directly in U.S. and international exchange-listed securities.
In the realm of forex trading, both Charles Schwab and ATFX provide opportunities through CFDs or spot contracts. Charles Schwab also offers cryptocurrency derivatives, whereas ATFX provides this option but does not enable the purchase of actual cryptocurrencies, akin to its competitor. For investors interested in copy trading, ATFX provides this feature, unlike Charles Schwab. Based on ForexBrokers.com rankings, Charles Schwab receives high marks, rated 5 stars and ranked 5th out of 63 brokers in the Range of Investments category. Meanwhile, ATFX scores 3.5 stars and is ranked 57th in the same category, reflecting a narrower scope of investment opportunities.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 150 |
| Forex Pairs (Total) | 73 | 44 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
Charles Schwab and ATFX both offer paper trading options, allowing users to practice trading through a free virtual demo account, which is a great feature for beginners. Schwab stands out for having its own proprietary platform and provides a Windows-based desktop application, alongside a web-based trading platform. In contrast, ATFX does not have a proprietary platform but also offers both a Windows-based download and a web-based option. When it comes to trading features, Schwab's platform does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are available with ATFX. However, Schwab shines with its ability to handle complex charting needs, providing 24 drawing tools and supporting direct trading from stock charts.
ATFX, on the other hand, shines in offering copy trading and the popular MetaTrader platforms, which Schwab does not. Nonetheless, the range of technical indicators and charting tools available at Schwab is more extensive. For those who focus heavily on stock analysis, Schwab offers 580 columns for watch lists, far outperforming ATFX's 7 columns. In terms of trading platforms and tools, Charles Schwab is rated at 5 stars and ranked fifth by ForexBrokers.com, while ATFX has a rating of 3.5 stars, placing it 62nd. These distinctions highlight Schwab's advanced offerings and usability compared to ATFX, making it more suitable for traders seeking comprehensive tools and a powerful trading experience.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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.
Charles Schwab and ATFX both offer mobile trading apps for iPhone and Android, making them easily accessible for traders on the go. While both platforms provide stock and forex price alerts and allow users to draw trendlines and view different time frames on charts, Charles Schwab surpasses ATFX in several essential features. Charles Schwab's app offers an impressive 374 technical studies for charting, whereas ATFX provides only 7, giving Charles Schwab users significantly more analytical tools. Another key advantage of the Charles Schwab app is the ability to sync watchlists with the client’s online account, a feature not available with ATFX. Additionally, both apps auto-save drawings on charts and enable users to create watchlists with real-time quotes, enhancing the trading experience.
When evaluating overall user satisfaction and recognition, Charles Schwab's mobile app holds an outstanding 5-star rating, while ATFX has a rating of 3.5 stars. According to ForexBrokers.com, Charles Schwab ranks 6th out of 63 brokers for mobile trading apps, demonstrating its strong reputation in the market. In contrast, ATFX ranks 63rd, indicating there may be areas for improvement. With these insights, it's clear that Charles Schwab offers a more comprehensive and highly rated mobile trading experience compared to ATFX.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 7 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and ATFX both provide users with daily market commentary and an economic calendar that covers upcoming global news events. However, when it comes to sourcing forex news from top-tier platforms like Bloomberg or Reuters, only Charles Schwab delivers, giving them an edge in offering comprehensive market insights. In contrast, ATFX excels in providing advanced technical analysis tools from renowned companies like Autochartist and Trading Central. These tools can aid traders looking for in-depth market analysis beyond just the headlines, making ATFX a viable choice for those focusing heavily on technical data.
Despite ATFX's arsenal of technical tools, Charles Schwab holds a significant advantage in terms of overall research quality, as evidenced by its 5-star rating and #4 ranking out of 63 brokers in the Research category by ForexBrokers.com. Meanwhile, ATFX has a 3-star rating and is ranked #54, indicating a more limited scope of market research resources compared to Schwab. For traders prioritizing top-tier news sources and a high overall research rating, Charles Schwab might be the preferred option, whereas those seeking specialized technical tools might gravitate towards ATFX.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| 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 comparing the educational services of Charles Schwab and ATFX, beginners will find a substantial range of learning materials offered by both brokers. Both platforms provide more than ten resources focused on forex and CFDs, including articles, videos, and archived webinars. Additionally, each broker meets the needs of newcomers by offering ten beginner-focused educational videos on trading. Notably, both Schwab and ATFX also feature a robust dictionary with over 50 investing terms to broaden users' vocabulary and understanding.
However, certain differences emerge in the educational offerings of Charles Schwab and ATFX. Charles Schwab provides monthly online educational webinars for clients, whereas ATFX does not. In terms of advanced educational video content, Schwab offers material specifically designed for experienced traders, unlike ATFX. For users seeking to explore past webinar content, both brokers provide an accessible archive. According to ForexBrokers.com ratings, Charles Schwab ranks higher with a five-star rating and is placed sixth out of 63 brokers for education, while ATFX trails with a three-star rating and a 28th-place ranking, reflecting Schwab's more comprehensive educational support.
| Feature |
Charles Schwab
|
ATFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| 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 ATFX. Charles Schwab finished with an overall rank of #6, while ATFX finished with an overall rank of #51.
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
|
ATFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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While both Charles Schwab and ATFX do not provide the option to purchase actual (delivered) cryptocurrency, they both offer opportunities to invest in cryptocurrency derivatives, allowing traders to leverage market opportunities without owning the underlying digital asset.
Charles Schwab supports ACH and SEPA transfers for account deposits and withdrawals but does not facilitate transactions via PayPal, Skrill, Visa, or Mastercard, while ATFX does not offer ACH or SEPA transfers yet accepts Skrill, Visa, and Mastercard and, like Charles Schwab, also supports bank wire transactions.
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 | ATFX | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | ATFX | |
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| Regulation | Charles Schwab | ATFX | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1971 | 2017 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 4 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | ATFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | ATFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) | No |
| Investments | Charles Schwab | ATFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 150 | |
| Forex Pairs (Total) | 73 | 44 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | ATFX | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | ATFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $500 | |
| 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 | ATFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | ATFX | |
|---|---|---|---|
| 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 | ATFX | |
|---|---|---|---|
| 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 | 7 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | ATFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | ATFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | ATFX | |
|---|---|---|---|
| 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 | ATFX | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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