Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Axi, 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, established in 1971, stands as a notable player in the world of online brokerage. Being publicly traded and operating as a bank, it holds significant credibility with a total of five Tier-1 licenses, indicating a high level of trust. This is reflected in its top-tier Trust Score of 99 from ForexBrokers.com, suggesting that it is incredibly reliable. Charles Schwab's robust regulatory framework underscores its secure and dependable service, making it a prime choice for those seeking assurance and stability in their financial dealings.
In contrast, Axi was founded in 2007 and, although not publicly traded or operating as a bank, it still garners attention with its commendable Trust Score of 82 from ForexBrokers.com. Axi's regulatory standing includes two Tier-1 licenses and one Tier-2 license, indicative of a trusted platform though slightly less so than Charles Schwab. While Axi may not offer the same level of prestige as Charles Schwab, it remains a solid option for those considering alternative brokerages with good trust parameters.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Year Founded | 1971 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab offers a user-friendly trading experience with no minimum deposit requirement for its primary brokerage accounts, making it accessible for forex traders. Schwab provides access to forex trading via its Schwab One account with trades settled in U.S. dollars. While Schwab does not charge commissions on forex trades, costs arise from the bid/ask spread. For instance, the EUR/USD pair had an average spread of 1.35 pips in October 2024, which is slightly above the industry average. Schwab also offers a Schwab Global account for those interested in trading international markets with the caveat of potential conversion fees ranging from 0.2% to 1% depending on account balance.
Axi, another online broker, does not provide average spread data for comparison. While the lack of specific spread information may leave traders seeking more transparency, Axi levels the playing field by eliminating commissions, much like Charles Schwab. Both brokers offer competitive fee structures, earning a solid 4-star rating for commissions and fees. However, in terms of rankings, Schwab takes the lead, placed at number 23 out of 63 brokers, while Axi is further down at 43.
Thus, while Schwab offers slightly higher spreads, its comprehensive platform and superior fee transparency might appeal to those interested in forex trading with sophisticated tools such as the thinkorswim platform. On the other hand, Axi might attract traders who prioritize lower costs due to its commission-free structure, despite the lack of detailed spread data.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| 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 through Charles Schwab and Axi, it's clear that these two online brokers cater to different investor needs. Charles Schwab stands out with an impressive offering of 40,000 tradeable symbols, including the ability to purchase exchange-traded securities on both U.S. and international exchanges. This means investors can buy stocks like Apple and Vodafone directly. For forex enthusiasts, Schwab provides 73 tradeable forex pairs. Although not offering copy trading services, Charles Schwab enables its users to engage in cryptocurrency derivatives. These extensive options have earned Schwab a 5-star rating for range of investments and an impressive #5 ranking out of 63 brokers as per ForexBrokers.com.
Axi, on the other hand, offers a more focused selection with 175 tradeable symbols. While it lacks direct access to U.S. and international stock exchanges, it provides forex trading with 65 pairs and facilitates trading in cryptocurrency derivatives. Notably, Axi supports copy trading, allowing investors to replicate the trades of successful traders, a feature not available with Schwab. With a 3.5-star rating for its range of investments, Axi is ranked #56 out of 63 brokers by ForexBrokers.com. This comparison shows that while Schwab offers a more extensive range suited for diverse investment strategies, Axi provides specialized options that cater to certain trading preferences.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 175 |
| Forex Pairs (Total) | 73 | 65 |
| 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 Axi cater to traders seeking diverse platform features and tools, with each offering its distinct advantages. For those keen on trying out trading techniques without financial risk, both brokers provide simulated trading with demo accounts. Charles Schwab stands out with its proprietary platform, providing a seamless desktop experience for Windows users, alongside a web-based option. On the other hand, Axi, while lacking a proprietary platform, makes MetaTrader 4 (MT4) available, appealing to those familiar with this popular trading tool. Also, Axi offers copy trading features, and platforms like ZuluTrade, which may attract users interested in mirroring successful traders' strategies. While Schwab lacks copy trading, it truly shines in user customization, offering more drawing tools and an impressive 580 columns for watch lists.
When it comes to overall ratings for trading platforms and tools, Charles Schwab boasts a perfect five-star rating, ranking 5th out of 63 brokers, reflecting its robust platform offerings and comprehensive features. Axi, while still a versatile option, holds a 3.5-star rating and ranks at the lowest position in the same category. Despite these differences, both brokers allow trading directly from a stock chart, employing their unique strengths to cater to various trading preferences and styles. Whether opting for Schwab’s extensive customization options or Axi’s familiarity with MetaTrader 4 (MT4) plus copy trading capabilities, traders have solid choices depending on their needs.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| 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 Axi both provide mobile trading apps for iPhone and Android, offering features such as stock and forex price alerts. However, there are notable differences in the offerings of these two platforms. Charles Schwab allows users to sync their watchlists between the mobile app and their online account, a feature not available with Axi. Schwab stands out with an impressive 374 technical studies for charting compared to Axi's 30, and it also supports automatic saving of chart drawings — an option Axi does not provide. Both apps enable users to draw trendlines and view different time frames on charts and offer real-time quotes on watchlists.
When it comes to overall experience and ratings, Charles Schwab's mobile app ranks higher with 5 stars, positioning itself as the sixth best out of 63 brokers in the Mobile Trading Apps category according to ForexBrokers.com. Axi, with a rating of 3.5 stars, ranks at #59 in the same category. Overall, Schwab provides a more comprehensive mobile trading experience, especially for those looking to utilize a broad array of technical studies and consistent syncing capabilities.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| 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.
When comparing Charles Schwab and Axi for their market research capabilities, Charles Schwab stands out with its strong daily market commentary and top-tier forex news from sources like Bloomberg and Reuters, which Axi also offers. However, Charles Schwab edges ahead with its five-star rating for research, ranking #4 out of 63 brokers according to ForexBrokers.com. Axi provides useful tools such as Autochartist for technical analysis and a sentiment-based trading tool, showing a more diverse range of instruments for active traders. Despite these offerings, Axi holds a lower three-star research rating and ranks #55 among 63 brokers in the same category.
Both Charles Schwab and Axi provide access to an economic calendar, keeping traders informed of global news events. However, Charles Schwab's overall research offerings are broader, contributing to its higher ranking. While Axi leverages Autochartist for technical insights and offers the unique advantage of a sentiment-based trading tool, Schwab's comprehensive research services, including daily commentary and extensive news sources, deliver a more cohesive experience for those seeking in-depth market analysis without relying heavily on external technical analysis tools.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| 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 | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for budding traders, both Charles Schwab and Axi have made meaningful strides to cater to the needs of beginners. Both brokers provide a minimum of 10 articles, videos, or similar content focused on forex or CFDs, ensuring a solid foundation for newcomers. Regular online seminars are part of the learning experience offered by both brokers, with at least one webinar scheduled each month. However, Charles Schwab goes a step further by maintaining an easily searchable archive of these webinars, offering the flexibility to learn at one’s own pace anytime.
Charles Schwab stands out with its comprehensive offerings for both novice and seasoned traders. The broker not only provides 10 beginner-focused educational videos but also extends its support to experienced traders with at least 10 advanced videos on trading topics. Axi, on the other hand, focuses more on beginner education and does not offer advanced video resources. Both brokers offer a dictionary of over 50 investing terms, which is a handy tool for newcomers. Overall, Charles Schwab receives a higher education rating of 5 stars compared to Axi’s 3 stars, ranking 6th out of 63 brokers on ForexBrokers.com in this category, while Axi ranks 27th.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| 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 Axi. Charles Schwab finished with an overall rank of #6, while Axi finished with an overall rank of #49.
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
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 82 |
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Both Charles Schwab and Axi do not provide the option to purchase actual cryptocurrencies (delivered), but they do offer the ability to trade cryptocurrency derivatives, rather than the actual digital currencies.
When comparing online brokers Charles Schwab and Axi, Charles Schwab supports ACH or SEPA transfers and bank wires for depositing or withdrawing account funds but does not offer PayPal, Skrill, Visa, or Mastercard options, whereas Axi allows Skrill, Visa, Mastercard, and bank wire transactions but does not support ACH or 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 | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | Axi | |
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| Regulation | Charles Schwab | Axi | |
|---|---|---|---|
| Trust Score | 99 | 82 | |
| Year Founded | 1971 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 175 | |
| Forex Pairs (Total) | 73 | 65 | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Axi | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Charles Schwab | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| 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 | No |
| Research | Charles Schwab | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| 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 | Axi | |
|---|---|---|---|
| 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 | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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