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 earns 4.0 stars for commissions and fees and ranks #26 out of 63, while BlackBull Markets scores 4.5 stars and ranks #19. In practice, Schwab keeps forex simple with zero commissions and no minimum deposit, but its spreads are wider. BlackBull can be cheaper for active traders—especially on its Prime account—though minimum deposits and per-trade commissions may apply.
At Schwab, forex trades carry no commission; 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 versus many online brokers. Trades are settled in U.S. dollars, the minimum trade size is 10,000 units (about $500 in margin at 20:1 leverage), and overnight financing is easy to estimate thanks to built-in calculators. If you use the Schwab Global account for local-currency markets, expect currency conversion fees of roughly 0.2%–1% depending on your balance.
BlackBull Markets’ fees depend on the account you choose. The Standard account is commission-free with no minimum deposit, but spreads are higher. The Prime account requires $2,000 and charges a $3 per side ($6 round turn) commission, with an average EUR/USD spread of 0.16 pips and an all-in cost around 0.76 pips (March 2024), making it the better value for many traders. The ECN Institutional tier targets high-volume clients with at least $20,000 and lower commissions of $2 per side ($4 round turn).
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.32 | 0.71 |
| All-in Cost EUR/USD - Active | 1.32 | 0.71 |
| 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.
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.
Charles Schwab and BlackBull Markets both offer free paper trading (demo accounts) and provide web-based and Windows desktop platforms, including the ability to place orders directly from a chart. Schwab also offers its own proprietary platform, while BlackBull does not. According to ForexBrokers.com, Charles Schwab earns 5 out of 5 stars for Trading Platforms and Tools and ranks #5 out of 63 brokers; BlackBull Markets earns 4 out of 5 stars and ranks #31.
If you want third-party platforms, BlackBull Markets supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and also offers copy trading. Charles Schwab does not support MT4 or MT5 and does not offer copy trading. Details for DupliTrade or ZuluTrade, along with the exact counts of built-in chart indicators, drawing tools, and watchlist fields, were not specified.
| 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 |
| Social Trading / 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 offer mobile trading apps for iPhone and Android. Each app supports price alerts, real-time quote watchlists, and syncing watchlists between the mobile app and your online account. For charting, both let you draw trendlines and automatically save your drawings. Details about viewing multiple time frames weren’t specified for either app.
If you care about technical analysis depth, Charles Schwab stands out with 374 technical studies in its mobile charts, compared with 30 at BlackBull Markets. Reflecting that difference, ForexBrokers.com rates Schwab’s mobile app 5 stars and ranks it #6 out of 63 brokers, while BlackBull Markets earns 4 stars and ranks #33. In short, Schwab suits traders who want many built-in indicators, while BlackBull covers the core features most traders need on the go.
| 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 |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at Charles Schwab vs BlackBull Markets: both brokers publish daily market commentary and include an economic calendar to track key events. Charles Schwab stands out for streaming forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while BlackBull does not. On the tools side, BlackBull adds Autochartist for pattern spotting and a sentiment tool that shows the ratio of long vs. short positions; Schwab does not offer those two features. Neither broker includes Trading Central, TipRanks, or Acuity Trading.
For overall quality, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers for research on ForexBrokers.com, whereas BlackBull Markets earns 4 stars and ranks #18. Choose Schwab if you value premium news coverage and a higher research score; pick BlackBull if you want Autochartist scanning and trader sentiment alongside daily commentary and an economic calendar.
| 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 |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners, Charles Schwab vs. BlackBull Markets both deliver frequent learning opportunities. Each runs at least one client webinar per month and offers sizable video libraries with 10+ beginner lessons and 10+ advanced topics. According to ForexBrokers.com, Schwab earns 5 stars for Education and ranks #6 out of 63 brokers, while BlackBull Markets earns 4 stars and ranks #29. It’s not confirmed whether either broker offers a dedicated forex or CFD education section with 10+ pieces, nor whether they provide a searchable archive of past webinars or an investor dictionary with 50+ terms.
If you want steady webinars and plenty of videos to learn the basics and progress to advanced topics, both brokers can help—though Schwab stands out with a higher rating and rank. BlackBull Markets still provides strong learning support for getting started. If forex- or CFD-specific lessons, searchable webinar archives, or a large investing glossary are must-haves, check each broker’s website to confirm these features since they were not specified in our source.
| 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 #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
|
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.
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.
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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 | ||
| 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. 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 | 1.32 | 0.71 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.71 | |
| 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 | |
| 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 | |
| Social Trading / 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 | 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 | |
| Mobile Research - 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 | |
| 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 | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD [DELETED] | |||
| 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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