Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs BlackBull Markets, 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.
When it comes to online brokers, Charles Schwab and BlackBull Markets offer investors distinct advantages and considerations, particularly in terms of trust and regulation. Founded in 1971, Charles Schwab is not only a publicly traded company but also operates as a bank. It boasts a Trust Score of 99 out of 99 according to ForexBrokers.com, indicating a high level of trust among investors. This is reinforced by its possession of five Tier-1 licenses, representing the highest level of regulatory approval and investor confidence.
In contrast, BlackBull Markets, founded in 2014, is a private entity and does not function as a bank. Its ForexBrokers.com Trust Score stands at 78, which is considered average risk. BlackBull Markets maintains a single Tier-1 license, allowing for some regulatory assurance but not at the same level as Charles Schwab. While both brokers serve their clients' needs, Charles Schwab offers a greater degree of regulatory backing and public accountability compared to BlackBull Markets.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
For commissions and fees, BlackBull Markets scores 4.5/5 stars and ranks #9 of 63, while Charles Schwab earns 4/5 stars and ranks #23 of 63. In short: Schwab is commission-free for forex but relies on the spread and settles trades in U.S. dollars, whereas BlackBull can deliver tighter spreads (especially on its Prime account) but adds a per-trade commission and higher minimums.
Charles Schwab charges no commissions for forex; your cost is the bid/ask spread. The average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side. There’s no minimum deposit for Schwab’s primary brokerage accounts, and forex access runs through a Schwab One account on thinkorswim. The smallest trade size is 10,000 units (about $500 margin at 20:1 leverage). Trades settle in U.S. dollars; to place orders in a foreign currency via Schwab One you must call by phone. A Schwab Global account lets you trade in 12 international markets in local currencies, with currency conversion fees of about 0.2%–1% depending on your balance.
BlackBull Markets’ costs vary by account. The Standard account is commission-free with no minimum deposit but has higher spreads. The Prime account requires a $2,000 minimum and adds a commission of $3 per side ($6 round turn) while offering lower spreads; its average EUR/USD spread was 0.16 pips in March 2024, with an all-in cost near 0.76 pips after commission. The ECN Institutional account targets high-volume traders with a $20,000 minimum and $2 per side ($4 round turn) commissions.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.27 | 1.16 |
| All-in Cost EUR/USD - Active | 1.27 | 0.76 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and BlackBull Markets both deliver wide ranges of investments. Schwab lists about 40,000 tradable symbols and 73 forex pairs, while BlackBull Markets offers around 26,000 symbols and 72 forex pairs. Each supports forex trading either as CFDs or spot contracts. Both allow trading exchange-traded securities (not CFDs) on U.S. exchanges—so you can buy shares like Apple—and on select international exchanges such as London-listed stocks. Neither broker lets you buy actual, delivered cryptocurrency, but both provide cryptocurrency CFDs.
Feature differences are subtle: BlackBull Markets includes copy trading, while Charles Schwab does not. For overall range of investments, both earn 5 stars; in ForexBrokers.com’s 63-broker comparison, Schwab ranks #5 and BlackBull ranks #7. If you want the biggest product list and international market access within a full-service broker, Schwab edges ahead; if copy trading matters and you still want thousands of markets, BlackBull Markets is compelling.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 26000 |
| Forex Pairs (Total) | 73 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Comparing trading platforms and tools, both Charles Schwab and BlackBull Markets offer simulated (paper) trading and let you trade from charts. Each provides a web platform and a Windows-based desktop download. Schwab delivers an in-house proprietary platform, while BlackBull does not; instead, BlackBull supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and also offers copy trading—two features Schwab doesn’t provide.
For overall platform quality, ForexBrokers.com rates Schwab at 5 stars and ranks it #7 out of 63 brokers for Trading Platforms and Tools, while BlackBull earns 4 stars and ranks #25. In simple terms: choose Schwab if you want a polished, proprietary platform experience with paper trading built in, or pick BlackBull if you value MT4/MT5 and copy trading alongside desktop and web access.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and BlackBull Markets deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, watchlist syncing with your online account, and charting tools that let you draw trendlines and auto save your annotations. That means you can set alerts, manage lists, and pick up your chart work across devices without missing a beat.
The main difference is charting depth and third-party scores. Charles Schwab offers 374 technical studies in its mobile app compared with BlackBull Markets’ 30, which makes Schwab better suited for traders who rely on many indicators. Schwab also earned 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while BlackBull Markets earned 4 stars and ranks #27. If you want the widest range of mobile indicators and top-tier ratings, Schwab has the edge; if you prefer a simpler setup, BlackBull Markets can still cover the essentials.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and BlackBull Markets deliver daily market commentary and include an economic calendar. Schwab stands out for streaming forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while BlackBull does not. On the other hand, BlackBull offers Autochartist tools and a sentiment indicator that shows the ratio of long vs. short positions, which Schwab doesn’t provide. Neither broker includes Trading Central, TipRanks, or Acuity Trading tools.
If you value premium news coverage and wide-reaching market research, Charles Schwab is the stronger choice. If you prefer hands-on forex aids like Autochartist and trader sentiment, BlackBull Markets may fit better. According to ForexBrokers.com, Schwab earns 5 stars for Research and ranks #5 out of 63 brokers, while BlackBull Markets earns 4 stars and ranks #16.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | No | No |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners, both Charles Schwab and BlackBull Markets host online client webinars at least once a month and offer at least 10 beginner videos plus at least 10 advanced videos. That means you’ll find plenty of hands-on clips to get started and to level up later. The provided details do not confirm whether either broker has a dedicated forex/CFD education library with 10 or more pieces, so that point remains unclear.
In overall quality, Charles Schwab stands out with a 5-star Education rating and a #6 ranking out of 63 brokers on ForexBrokers.com. BlackBull Markets earns 4 stars and ranks #24 out of 63. If you want a higher-rated learning experience, Schwab is the stronger pick; if you’re set on BlackBull, you’ll still get frequent webinars and a wide range of beginner and advanced videos.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 BlackBull Markets. Charles Schwab finished with an overall rank of #6, while BlackBull Markets finished with an overall rank of #22.
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
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 78 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Comparing Charles Schwab vs BlackBull Markets for crypto trading: neither broker lets you buy actual delivered cryptocurrencies, but both offer cryptocurrency CFDs.
Comparing deposit and withdrawal methods, Charles Schwab supports ACH/SEPA and bank wire transfers but not PayPal or Skrill, while BlackBull Markets offers bank wires and Skrill but not ACH/SEPA or PayPal; Visa/Mastercard availability is unspecified for both brokers.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
| Broker Screenshots | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 99 | 78 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA 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) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or SCA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 26000 | |
| Forex Pairs (Total) | 73 | 72 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.27 | 1.16 | |
| All-in Cost EUR/USD - Active | 1.27 | 0.76 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Charles Schwab Review | BlackBull Markets Review |
| Overall | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill