Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Eightcap, 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.
Charles Schwab and Eightcap are online brokers with different backgrounds and structures. Charles Schwab, founded in 1971, is publicly traded and operates as a bank. Eightcap, founded in 2009, is privately held and not a bank.
Regulation and safety: ForexBrokers.com’s Trust Score (0–99) classifies 90–99 as highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted. Charles Schwab holds five Tier‑1 (highly trusted) licenses and zero Tier‑2 (trusted) licenses, earning a 99/99 Trust Score (highly trusted). Eightcap holds three Tier‑1 licenses and one Tier‑2 license, earning an 87/99 Trust Score (trusted).
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
In the commissions and fees comparison, Charles Schwab and Eightcap both offer competitive pricing, but they work a little differently. Charles Schwab earns 4 out of 5 stars and ranks #25 out of 36 for commissions and fees. Schwab does not charge commissions on forex trades, so the cost comes from the bid/ask spread instead. Its average EUR/USD spread was 1.35 pips in October 2024, which is a bit on the high side versus many forex brokers. Schwab also has no minimum deposit for its main brokerage accounts, but forex trading is available through Schwab One and Schwab Global, and the smallest trade size is 10,000 units. For investors trading internationally, Schwab Global adds currency conversion fees that can range from 0.2% to 1%, depending on account size.
Eightcap scores slightly higher with 4.5 out of 5 stars and a ranking of #20 out of 36. It offers two pricing styles: a commission-based Raw account and a spread-only Standard account. On the Raw account, Eightcap lists an average spread of 0.06 pips, and after the $3.50 per-side commission is added, the total trading cost comes to about 0.76 pips, which is close to the industry average. That makes Eightcap a good fit for traders who want low all-in costs, though it is still a little more expensive than the very cheapest forex brokers.
Overall, Schwab is a better pick for traders who want a no-commission model and may already use its broader investing platform, while Eightcap is the stronger choice for traders focused on tighter forex pricing. If your main goal is lower trading costs, Eightcap has the edge in this matchup.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Spread-only account | 1.27 | 1.0 |
| All-in Cost EUR/USD - Raw spread account | 1.27 | 0.76 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab offers a much wider range of investments than Eightcap, making it the stronger choice for traders and investors who want more variety. Schwab lists about 40,000 tradeable symbols and 73 forex pairs, while Eightcap offers 803 tradeable symbols and 55 forex pairs. Both brokers support forex trading as either a CFD or spot contract, and both offer cryptocurrency CFDs. However, neither broker supports copy trading or lets clients buy actual, delivered cryptocurrency.
One of the biggest differences is that Charles Schwab offers exchange traded securities on both U.S. and international exchanges, so clients can buy real shares like Apple or Vodafone. Eightcap does not offer these exchange traded securities. This broader product selection helps explain why Charles Schwab earns 5 out of 5 stars for Range of Investments and ranks #5 out of 36 brokers, compared with Eightcap’s 3.5 stars and #31 ranking.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 803 |
| Forex Pairs (Total) | 73 | 55 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | No |
| 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.
Charles Schwab and Eightcap both give traders a choice of paper trading, Windows desktop software, and web-based platforms, so each lets you practice and trade from a browser or downloadable app. Both also allow trading directly from a chart. Neither broker offers copy trading, which may matter to traders looking for a hands-off way to follow other investors.
The biggest difference is that Charles Schwab offers its own in-house platform, while Eightcap does not. Eightcap does support MetaTrader 4 and MetaTrader 5, which may appeal to traders who want those popular third-party platforms, but Schwab does not offer either one. In platform and tools reviews, Schwab earns 5 out of 5 stars and ranks #7 out of 36 brokers at ForexBrokers.com, while Eightcap scores 4 out of 5 stars and ranks #34, making Schwab the stronger overall choice for trading platforms and tools.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 100 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and Eightcap both give traders mobile access on iPhone and Android, along with stock or forex price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. This means you can move between the mobile app and your online account without losing changes, which is useful for keeping track of trades on the go.
The biggest difference is in charting tools and overall mobile app ratings. Charles Schwab offers 374 technical studies in its app, compared with 100 at Eightcap, and it holds a 5-star mobile trading apps rating versus 4 stars for Eightcap. In ForexBrokers.com’s mobile trading apps rankings, Charles Schwab is placed #6 out of 36 brokers, while Eightcap comes in at #34, giving Schwab the edge for mobile charting depth and app quality.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 100 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and Eightcap both give traders daily market commentary and an economic calendar, which can help with keeping track of news and key events. Charles Schwab stands out more for market research because it also offers forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Eightcap does not provide that same level of outside news coverage, but it does include a sentiment tool that shows long and short positioning across currency pairs, plus research tools from Acuity Trading such as Signal Centre. Neither broker offers tools from Autochartist, Trading Central, or TipRanks.
Overall, Charles Schwab is the stronger choice for market research. It earns 5 out of 5 stars and ranks #5 out of 36 brokers for the Research category at ForexBrokers.com, while Eightcap is rated 3.5 out of 5 stars and ranks #35. For traders who want more in-depth market news and research coverage, Charles Schwab has the edge. Eightcap may still appeal to traders who value sentiment-based insights and Acuity Trading tools.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central | No | No |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners who want to learn before they trade, Charles Schwab has a clear edge over Eightcap in education. Schwab offers forex and CFD learning materials, monthly educational webinars, and large libraries of beginner and advanced trading videos, giving new traders more ways to build knowledge at their own pace. It is also rated 5 stars for Education and ranks #6 out of 36 brokers on ForexBrokers.com, which points to a stronger overall learning experience.
Eightcap does provide beginner trading videos and some useful learning content, but it falls behind Charles Schwab in key areas that matter to new traders. It does not offer monthly educational webinars, and it does not appear to meet the minimum level for forex or CFD education content. With a 3.5-star Education rating and a #33 ranking out of 36 brokers, Eightcap is better suited to traders who need basic materials rather than a fuller learning path.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
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 Eightcap. Charles Schwab finished with an overall rank of #6, while Eightcap finished with an overall rank of #30.
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
|
Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 87 |
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Charles Schwab vs Eightcap: neither broker lets you buy actual (delivered) cryptocurrencies, but both allow trading cryptocurrency CFDs.
Comparing deposit and withdrawal options, Charles Schwab supports ACH/SEPA and bank wire transfers but not PayPal or Skrill (Visa/Mastercard availability not specified), while Eightcap offers PayPal, Skrill, and bank wire transfers but not ACH/SEPA (Visa/Mastercard availability not specified).
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 | Eightcap | |
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| Trust Score | 99 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
| Broker Screenshots | Charles Schwab | Eightcap | |
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| Regulation | Charles Schwab | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 87 | |
| Year Founded | 1971 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 803 | |
| Forex Pairs (Total) | 73 | 55 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | No | |
| 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 | Eightcap | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.27 | 1.0 | |
| All-in Cost EUR/USD - Raw spread account | 1.27 | 0.76 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| Trading Platforms | Charles Schwab | Eightcap | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 100 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Eightcap | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Eightcap | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Charles Schwab | Eightcap | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | Charles Schwab Review | Eightcap Review |
| Overall | Charles Schwab | Eightcap | |
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| Trust Score | 99 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
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