Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs Charles Schwab, 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.
CMC Markets and Charles Schwab are both well-regarded online brokers with identical top-tier trust scores of 99 out of 99 from ForexBrokers.com, indicating a high level of trustworthiness. Established in 1989 and 1971 respectively, both firms are publicly traded. Charles Schwab stands out as it also operates as a bank, unlike CMC Markets which purely focuses on brokerage services. This distinction might appeal to users desiring integrated banking features alongside investment opportunities.
Both brokers possess five Tier-1 licenses, which underscores their strong regulatory standing. Additionally, CMC Markets holds one Tier-2 license, highlighting its additional compliance with global regulatory standards, whereas Charles Schwab has none. This contrast can be essential for investors who consider multiple regulatory assurances a priority in their choices of an online broker.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1989 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 5 | 5 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing CMC Markets and Charles Schwab in terms of commissions and fees, CMC Markets takes the lead with a top ranking and a 5-star rating in the 2025 Annual Awards for its low cost of trading. The broker is distinguished by its consistently low spreads, such as 0.61 pips on the EUR/USD as of August 2023. CMC Markets caters to active traders with its Price Plus Scheme, offering significant discounts based on trading activity. Furthermore, its FX Active pricing model charges a competitive commission per trade on top of minimal spreads, creating an all-in cost that appeals to traders across several regions.
On the other hand, Charles Schwab provides a more flexible entry point for forex traders thanks to its absence of a minimum deposit requirement for its brokerage accounts. Schwab allows forex trading on its thinkorswim platform through Schwab One and Schwab Global accounts, although trades are settled in U.S. dollars and the minimum trade size of 10,000 units demands a margin of $500 based on 20:1 leverage. Schwab does not charge forex trading commissions, with trading costs derived from bid/ask spreads. However, its average spread of 1.35 pips on the EUR/USD, observed in October 2024, is on the higher side compared to industry standards.
Overall, while Charles Schwab is rated 4 stars and ranks #23 in the Commissions and Fees category out of 63 brokers, it may not offer the same cost advantages as CMC Markets. CMC Markets is recognized for leading the way with industry standards, maintaining low average spreads that contribute to its #1 ranking. These differences make CMC Markets a more cost-effective choice for many traders who prioritize low fees.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.61 | 1.35 |
| All-in Cost EUR/USD - Active | 0.51 | 1.35 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments, CMC Markets and Charles Schwab both offer compelling options for different types of traders. For those interested in forex, both brokers provide trading as CFDs or spot contracts; however, CMC Markets shines with 156 tradeable forex pairs compared to Charles Schwab's 73. Overall, CMC Markets gives access to 11,925 tradeable symbols, while Charles Schwab features a more extensive selection with 40,000 symbols. Both brokers allow you to invest in exchange-traded securities on U.S. and international exchanges, making it easy for clients to buy shares like Apple or Vodafone. Additionally, CMC Markets offers the unique advantage of copy trading, a feature not available with Charles Schwab.
For cryptocurrency enthusiasts, both platforms let you trade crypto derivatives but not the actual cryptocurrencies. Despite these differences, when rated on a scale of five stars for their range of investments, both brokers achieve the maximum score of 5 stars. It's interesting to note that CMC Markets holds the 9th position according to ForexBrokers.com, while Charles Schwab ranks higher at 5th place. This distinction highlights both brokers as excellent choices, although their specific offerings may cater better to different types of investors depending on individual needs.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 40000 |
| Forex Pairs (Total) | 156 | 73 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| 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.
CMC Markets and Charles Schwab both provide impressive trading platforms with a comprehensive range of tools designed to enhance the trading experience for users of all levels. Both brokers offer simulated trading through free virtual demo accounts, allowing new traders to practice without risk. Each also features proprietary platforms developed in-house and provides both Windows-based desktop downloads and web-based trading platforms, catering to traders' various device preferences. However, CMC Markets sets itself apart by offering copy trading capabilities and compatibility with popular platforms such as MetaTrader 4 and MetaTrader 5, which are not available with Charles Schwab. Though both brokers have been rated five stars for their trading platforms and tools, CMC Markets' additional features contribute to its higher ranking of #4 compared to Schwab's #5 by ForexBrokers.com.
When it comes to charting tools, CMC Markets provides a more extensive selection of drawing tools with 40 available options compared to Charles Schwab's 24. Both platforms support trading directly from stock charts, enhancing speed and convenience during trading sessions. Despite these extensive charting abilities, Schwab shines in watch list customization, offering a substantial 580 columns to CMC Markets' 11, allowing for a highly tailored user experience. In summary, while both brokers stand out with their powerful trading offerings, CMC Markets delivers more advanced features that appeal to traders seeking a wide array of trading options and analytical tools.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 374 |
| Charting - Drawing Tools (Total) | 40 | 24 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 580 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of CMC Markets and Charles Schwab, both brokers deliver comprehensive platforms available on iPhone and Android devices. Both apps support important features like stock or forex price alerts and offer watchlist symbol syncing that ensures a seamless experience between your mobile device and online account. Users of both apps can draw trendlines and view multiple time frames on stock or forex charts, with these drawings automatically saved for future use. Additionally, both mobile apps allow you to create personalized watchlists with real-time quotes, catering to active traders who need to stay updated.
The primary difference between the two apps lies in the variety of technical studies available for charting. CMC Markets provides 29 technical studies, while Charles Schwab impressively offers 374, which may appeal to traders looking for more in-depth analysis tools. Despite this discrepancy, both apps are highly rated for their mobile trading functionality, with both receiving a 5-star rating. When considering rankings by ForexBrokers.com, CMC Markets edges slightly ahead, securing the 5th spot out of 63 brokers, while Charles Schwab is close behind at 6th place. Whether you prioritize advanced charting tools or smooth synchronizing features, both CMC Markets and Charles Schwab offer compelling options for mobile trading enthusiasts.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 374 |
| 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.
Both CMC Markets and Charles Schwab deliver daily market commentary and access to the latest forex news from top-tier sources like Bloomberg and Reuters. These features ensure that traders stay informed about significant market developments. Additionally, both platforms provide an economic calendar that highlights key global news events. While both brokers have earned a commendable five-star rating for their research capabilities, they differ in certain aspects. CMC Markets offers unique tools like Autochartist technical analysis and a sentiment-based trading tool, which shows the ratio of long to short positions across instruments—features not available with Charles Schwab.
Despite these differences, Charles Schwab maintains a slight edge, being ranked higher for research in the ForexBrokers.com rankings at 4th place, compared to CMC Markets' 6th position among 63 brokers. However, for traders who prioritize tools like sentiment analysis and technical insights from Autochartist, CMC Markets presents a more tailored offering. Ultimately, the choice between these two brokers will depend on specific preferences regarding technical tools and integrated research capabilities.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| 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 beginners, both CMC Markets and Charles Schwab offer impressive options for aspiring traders. Each platform provides more than ten educational resources, including articles and videos focused on forex and CFDs. Both brokers also boast substantial collections of beginner-friendly videos covering essential trading topics. Additionally, they provide investor dictionaries with definitions for over 50 investing terms, helping newcomers familiarize themselves with essential jargon. For investors who prefer video content, both platforms offer searchable archives of recorded webinars. While CMC Markets is highly rated with five stars for its educational offerings, Charles Schwab also earns a five-star rating and holds a slightly higher rank in the education category according to ForexBrokers.com.
A notable difference between the two brokers is their approach to online webinars. Charles Schwab enhances its educational offerings with monthly live online webinars, offering interactive learning opportunities for clients, while CMC Markets doesn't provide this feature. Despite this, CMC Markets still offers a wealth of resources that cater to both beginners and advanced traders, showcasing advanced educational videos alongside its beginner-focused content. When comparing their rankings, Charles Schwab is positioned slightly higher at #6, compared to CMC Markets at #10, reflecting its overall commitment to client education in the trading community.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | 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 CMC Markets is better than Charles Schwab. CMC Markets finished with an overall rank of #4, while Charles Schwab finished with an overall rank of #6.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both CMC Markets and Charles Schwab do not provide the option to purchase actual (delivered) cryptocurrencies; however, they each offer the ability to engage in cryptocurrency derivatives trading.
When comparing online brokers CMC Markets and Charles Schwab, both platforms support ACH and SEPA transfers, although CMC Markets offers additional flexibility with PayPal, Visa, and Mastercard for deposits and withdrawals, whereas Charles Schwab does not; both brokers provide bank wires, yet neither supports Skrill.
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 | CMC Markets | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Charles Schwab Review |
| Broker Screenshots | CMC Markets | Charles Schwab | |
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| Regulation | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1989 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 5 | 5 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 40000 | |
| Forex Pairs (Total) | 156 | 73 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 1.35 | |
| All-in Cost EUR/USD - Active | 0.51 | 1.35 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 580 | |
| Charting - Indicators / Studies (Total) | 79 | 374 | |
| Charting - Drawing Tools (Total) | 40 | 24 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | Charles Schwab | |
|---|---|---|---|
| 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 | 29 | 374 | |
| 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 | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | 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 | CMC Markets | Charles Schwab | |
|---|---|---|---|
| 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 | CMC Markets Review | Charles Schwab Review |
| Overall | CMC Markets | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Charles Schwab Review |
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