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, established in 1989, and Charles Schwab, founded in 1971, stand as two prominent online brokers in the financial market. Both companies are publicly traded, reflecting a high level of transparency and accountability. While CMC Markets is exclusively a brokerage, Charles Schwab operates as both a broker and a bank, offering a more comprehensive range of financial services. In terms of trust and regulation, both brokers hold the highest Trust Score of 99 from ForexBrokers.com, indicating a strong reputation for reliability.
When comparing regulatory credentials, CMC Markets holds six Tier-1 licenses, underscoring its commitment to adhering to the highest regulatory standards. In comparison, Charles Schwab maintains five Tier-1 licenses. CMC Markets also possesses one Tier-2 license, while Charles Schwab has none. These details highlight the robust regulatory frameworks both firms adhere to, guaranteeing a trustworthy trading experience for their clients.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1989 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 6 | 5 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Comparing commissions and fees, CMC Markets is the clear pricing leader versus Charles Schwab. CMC Markets earns 5 stars and is ranked #1 of 63 brokers for Commissions and Fees (ForexBrokers.com 2025), while Charles Schwab earns 4 stars and ranks #26 of 63. In short: CMC generally delivers lower trading costs, especially on major forex pairs, whereas Schwab charges no forex commission but has wider spreads.
CMC Markets keeps costs low across account types. Its typical EUR/USD spread was 0.61 pips (August 2023). With FX Active, CMC charges $2.50 per side with minimum spreads of 0.0, producing an all‑in cost of about 0.5 pips on EUR/USD and several other pairs (based on August 2023 data). The Price Plus Scheme can further cut costs for high‑volume traders with spread discounts tied to monthly Trading Points. Notably, CMC’s average spreads tend to track close to its quoted minimums, supporting its #1 ranking for pricing.
Charles Schwab doesn’t charge a separate commission for forex; your cost is the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which sits on the higher side of the industry average. Forex trading runs through thinkorswim, where you can also see overnight financing estimates; trades settle in U.S. dollars and the smallest trade size is 10,000 units. While straightforward, Schwab’s spread-only model typically results in higher all‑in costs than CMC Markets.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.3 | 1.32 |
| All-in Cost EUR/USD - Active | 0.65 | 1.32 |
| 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 considering the range of investments offered by CMC Markets and Charles Schwab, both online brokers provide a wide selection for investors, giving each a prestigious five-star rating. CMC Markets allows for trading across 12,029 symbols, including 141 forex pairs, enabling diversified portfolios. A significant highlight is CMC Markets' support for copy trading, allowing users to emulate the trades of experienced investors. While CMC Markets does not enable the purchase of actual cryptocurrencies, it does offer cryptocurrency derivatives, appealing to those interested in the crypto market without holding the digital currencies directly. Moreover, investors looking to trade on U.S. and international exchanges are covered, as CMC Markets offers options for both.
On the other hand, Charles Schwab provides access to an impressive 40,000 symbols, though it offers a comparatively smaller selection of 73 forex pairs. Unlike CMC Markets, Charles Schwab does not support copy trading, possibly affecting those who prefer this investment strategy. However, Charles Schwab matches CMC Markets in offering cryptocurrency derivatives rather than direct crypto purchases. Like CMC, it facilitates trading on both U.S. and international exchanges, catering to a global investor base. While both brokers receive top marks for their range of investments, Charles Schwab's strong standing in global rankings—ahead of CMC Markets as per ForexBrokers.com—highlights its broad and compelling market appeal.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 40000 |
| Forex Pairs (Total) | 141 | 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.
When comparing the trading platforms and tools of CMC Markets and Charles Schwab, both online brokers offer a rich array of features catering to diverse trading styles. CMC Markets and Charles Schwab both provide simulated trading with free virtual demo accounts, offering traders the chance to practice without financial risk. Each broker has developed its own proprietary platform and supports Windows-based desktop and web-based trading options, ensuring flexibility for users. While both platforms are rated five stars on their offerings, CMC Markets stands out with its support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5), platforms known for their advanced charting capabilities. Additionally, CMC Markets offers copy trading opportunities, a feature not available with Charles Schwab.
For chart enthusiasts, CMC Markets provides 36 drawing tools compared to Charles Schwab's 24. Both brokers allow trading directly from stock charts, enhancing trading efficiency. Watchlists capabilities also differ significantly: CMC Markets supports 11 customizable columns, whereas Charles Schwab offers a more extensive 580-column selection, providing greater depth in monitoring various data points. In the rankings, CMC Markets is positioned at #4, slightly ahead of Charles Schwab at #5, in the Trading Platforms and Tools category according to ForexBrokers.com. This subtle distinction underlines CMC Markets' competitive edge in providing comprehensive trading tools tailored to both novices and seasoned traders.
| 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) | 73 | 374 |
| Charting - Drawing Tools (Total) | 36 | 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.
CMC Markets and Charles Schwab both deliver strong market research with daily market commentary, top-tier forex news (from sources like Bloomberg, Reuters, and Dow Jones), and a detailed economic calendar. Neither integrates Trading Central, TipRanks, or Acuity Trading. The key differences: CMC Markets includes Autochartist for technical patterns and a sentiment tool showing long/short positioning, while Schwab does not offer these specific tools.
Both brokers earn 5 stars for Research. In ForexBrokers.com’s rankings of 63 brokers, Charles Schwab places #5 and CMC Markets comes in at #6. Choose CMC Markets if you value built-in trade-idea generation and sentiment data; pick Charles Schwab if you want a top-ranked overall research experience with daily insights and premium news.
| 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 | 6 | 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 | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 40000 | |
| Forex Pairs (Total) | 141 | 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 | 1.3 | 1.32 | |
| All-in Cost EUR/USD - Active | 0.65 | 1.32 | |
| 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) | 73 | 374 | |
| Charting - Drawing Tools (Total) | 36 | 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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