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 |
Charles Schwab offers forex traders a seamless entry with no minimum deposit requirement for its primary brokerage accounts, Schwab One and Schwab Global. These accounts provide access to the thinkorswim platform, allowing trades to be conducted in U.S. dollars. Schwab does not charge commissions for forex trading; instead, traders incur costs through the bid/ask spread. In October 2024, the EUR/USD spread averaged 1.35 pips, which tends toward the higher end of the industry range. The Schwab Global account enhances international market access by enabling trades in local currencies, although currency conversion fees, ranging from 0.2% to 1%, may apply. Rated four out of five stars, Schwab ranks 23rd out of 63 brokers evaluated for commissions and fees by ForexBrokers.com.
Conversely, BlackBull Markets presents a tiered account structure designed to accommodate varying levels of forex trading. The Standard account is commission-free with higher spreads, while the Prime account, requiring a $2,000 minimum deposit, offers a more competitive spread on the EUR/USD at 0.16 pips plus a commission of $6 per 10,000 traded. BlackBull also offers an ECN Institutional account for seasoned traders, necessitating a $20,000 deposit with even lower commission rates of $4 per lot. With a 4.5-star rating, BlackBull Markets is positioned at 18th place for commissions and fees among 63 brokers reviewed by ForexBrokers.com.
For those seeking lower trading costs, BlackBull Markets presents a more economical choice with its Prime account's lower spreads despite the commission charge, offering high-value returns on larger deposits. Meanwhile, traders valuing U.S.-based service and broader platform capabilities may lean towards Charles Schwab despite its slightly higher spread range. Both brokers provide competitive trade environments with their unique strengths, catering to different trader preferences and priorities.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | 0.71 |
| All-in Cost EUR/USD - Active | 1.35 | 0.71 |
| 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 Charles Schwab and BlackBull Markets for their range of investments, both platforms excel with a five-star rating. Charles Schwab offers an impressive 40,000 tradeable symbols, edging out BlackBull Markets, which provides 26,000. In terms of forex trading, Schwab offers 73 pairs, narrowly surpassing BlackBull’s 72. Both brokers enable forex trading via CFDs or spot contracts and allow investment in exchange-traded securities on U.S. exchanges like Apple, as well as international exchanges, such as Vodafone. However, only BlackBull stands out by offering copy trading services, a feature not available with Schwab.
Both brokers do not offer the ability to purchase cryptocurrencies directly, but they do allow investments in cryptocurrency derivatives. Charles Schwab holds a slightly higher rank in the Range of Investments category by ForexBrokers.com, coming in at number 5 out of 63 brokers, while BlackBull Markets follows closely at number 6. Whether you’re looking for a wide array of tradeable symbols or the ability to branch out into forex and international markets, both Charles Schwab and BlackBull Markets offer comprehensive options for investors.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 26000 |
| Forex Pairs (Total) | 73 | 72 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| 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 comparing trading platforms and tools, Charles Schwab and BlackBull Markets each offer unique features tailored to different trader needs. Charles Schwab provides clients with a proprietary platform developed in-house, delivering a seamless experience across Windows and web-based platforms. This platform stands out with extensive charting options, offering 580 columns for watch lists and the ability to trade directly from stock charts. Additionally, Schwab supports simulated trading through a free virtual demo account. Despite not supporting popular trading tools like MetaTrader 4 or 5, Schwab excels with its wide array of drawing tools and comprehensive integration, earning it a top-five ranking and a five-star rating for trading platforms and tools by ForexBrokers.com.
BlackBull Markets, on the other hand, provides MetaTrader 4 and 5, platforms favored by a broad spectrum of traders for their versatility and robust feature sets. While BlackBull lacks a proprietary platform, they make up for it with copy trading features and compatibility with ZuluTrade. The platform supports trading from stock charts and offers a substantial number of drawing tools, totaling 60. Despite offering only six columns for watch lists, BlackBull efficiently caters to traders seeking advanced trading options like copy trading, earning a four-star rating and a respectable ranking of #29 by ForexBrokers.com. Both brokers offer free virtual demo accounts, ensuring new traders can familiarize themselves with each platform before committing fully.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 374 | 109 |
| Charting - Drawing Tools (Total) | 24 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
In the world of mobile trading apps, Charles Schwab and BlackBull Markets both cater to iPhone and Android users, offering essential features like stock and forex price alerts, watchlist syncing, and the ability to view multiple time frames on charts. Both apps allow users to draw trendlines and automatically save these drawings on stock or forex charts. Additionally, they provide the functionality to create watchlists with real-time quotes, helping traders stay updated on market movements seamlessly.
Despite these similarities, Charles Schwab stands out with a more extensive selection of technical studies available for charting—374 compared to BlackBull Markets' 30—and boasts a higher user rating of 5 stars versus BlackBull Markets' 4 stars. This advantage contributes to Schwab's higher ranking of #6 out of 63 brokers in the Mobile Trading Apps category at ForexBrokers.com, while BlackBull Markets stands at #31. Whether you're looking for rich charting capabilities or top-notch ratings, these distinctions may influence your choice of trading app.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| 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 BlackBull Markets both provide daily market commentary to keep investors informed. However, when it comes to forex news, Charles Schwab stands out with updates from top-tier sources like Bloomberg and Reuters, which BlackBull Markets does not offer. On the other hand, BlackBull Markets enhances its market research with a technical analysis tool from Autochartist, a feature Charles Schwab lacks. Further differentiating itself, BlackBull Markets provides a sentiment-based trading tool to help assess market trends, whereas Charles Schwab does not offer this feature.
Both brokers furnish an economic calendar to keep traders updated on global news events, but they differ in overall research rankings. Charles Schwab is recognized with a higher research rating of five stars and ranks #4 out of 63 brokers according to ForexBrokers.com. Comparatively, BlackBull Markets earns four stars and holds the #18 spot. These distinctions highlight Charles Schwab's broad access to premium information and its comprehensive approach to market research, while BlackBull Markets appeals with specific analysis tools aimed at enhancing trading strategies.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| 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 comparing the educational resources available for beginners at Charles Schwab and BlackBull Markets, both platforms provide a substantial amount of material, including over ten educational pieces on forex and CFDs. They each offer at least ten beginner videos covering trading topics specifically designed for those just starting out. Beginners can also benefit from a regular schedule of online educational webinars, available every month, with archives accessible for further learning. Additionally, both brokers provide investor dictionaries containing definitions of over 50 investing terms, further aiding newcomers in understanding the industry jargon.
Despite these similarities, a closer look at ratings and rankings reveals some differences. Charles Schwab is highly rated, with a perfect 5-star rating for education, and ranks 6th out of 63 brokers reviewed by ForexBrokers.com. In comparison, BlackBull Markets received a 4-star rating in the education category and is placed 29th in the same ranking. This suggests that while both brokers offer a wealth of resources, Charles Schwab might be slightly better recognized for the quality and breadth of its educational offerings.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 BlackBull Markets. Charles Schwab finished with an overall rank of #6, while BlackBull Markets finished with an overall rank of #24.
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
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 78 |
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Both Charles Schwab and BlackBull Markets do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
While both Charles Schwab and BlackBull Markets provide the option of bank wire transfers for depositing or withdrawing funds, Charles Schwab also offers ACH and SEPA transfers but lacks options like Visa, Mastercard, Skrill, or PayPal, whereas BlackBull Markets supports Skrill and card payments via Visa and Mastercard but does not facilitate ACH or SEPA transfers, nor does it offer a PayPal option.
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 | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
| Broker Screenshots | Charles Schwab | BlackBull Markets | |
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| 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 26000 | |
| Forex Pairs (Total) | 73 | 72 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| 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 | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.71 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.71 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | BlackBull Markets | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 109 | |
| Charting - Drawing Tools (Total) | 24 | 60 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| 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 | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | BlackBull Markets Review |
| Overall | Charles Schwab | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
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