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 |
Charles Schwab and Eightcap both offer competitive forex pricing, but they use different fee models. Charles Schwab earns a 4-star rating and ranks #24 out of 36 for commissions and fees. Schwab does not charge a forex trading commission, so costs mainly come from the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side versus the industry average. Schwab’s Schwab One account has no minimum deposit, and its Schwab Global account may charge currency conversion fees of 0.2% to 1% when trading international markets in local currencies.
Eightcap scores slightly higher with a 4.5-star rating and a ranking of #20 out of 36. Its Raw account shows a very tight average spread of 0.06 pips, but it also charges a $3.50 per-side commission, bringing the all-in cost to about 0.76 pips. That makes Eightcap close to the industry average and generally a bit more appealing for traders looking for lower direct forex trading costs.
In simple terms, Schwab may be a better fit for traders who want a well-known broker with no forex commission and access to international markets, while Eightcap is the stronger pick for traders focused mainly on lower all-in forex trading costs. If commissions and fees are your top concern, Eightcap has the edge, though both brokers are priced reasonably compared with many competitors.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.27 | 1.0 |
| All-in Cost EUR/USD - Active | 1.27 | 0.76 |
| Non-wire bank transfer | 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 investors who want more options in one account. Schwab lists about 40,000 tradeable symbols, including 73 forex pairs, plus exchange-traded securities on both U.S. and international exchanges. It also supports forex trading, cryptocurrency CFDs, and a large menu of stocks and other listed products. By comparison, Eightcap offers around 803 tradeable symbols and 55 forex pairs, with forex and crypto CFDs available, but it does not provide access to exchange-traded securities on U.S. or international exchanges.
In plain terms, Charles Schwab is better suited to investors looking for breadth, while Eightcap is more focused on CFD trading. That difference shows up in third-party ratings as well: Schwab earns 5 out of 5 stars for Range of Investments and ranks #5 out of 36 brokers, while Eightcap scores 3.5 out of 5 stars and ranks #30. Neither broker offers copy trading or the ability to buy actual cryptocurrency, but for overall market access, Schwab is clearly ahead.
| 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, desktop software, and web-based platforms, so each broker makes it easy to practice, place trades, and move between devices. Both also let you trade directly from a chart, which can be helpful for active traders who want to act quickly while reviewing price action. Neither broker offers copy trading, so users looking to mirror other traders will need to look elsewhere.
The biggest difference is in platform choice and overall ratings. Charles Schwab offers its own in-house platform, while Eightcap does not, but Eightcap supports MetaTrader 4 and MetaTrader 5, which may appeal to traders who prefer those well-known tools. Schwab earns a 5-star rating for Trading Platforms and Tools and ranks #7 out of 36 brokers at ForexBrokers.com, while Eightcap is rated 4 stars and ranks #32, suggesting Schwab has the edge overall for platform quality and trading 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 offer mobile trading apps for iPhone and Android, plus helpful features like price alerts, watchlist syncing, trendline drawing, and automatic saving of chart drawings. That means traders can keep track of markets and manage watchlists from their phone, with updates carrying over between the mobile app and online account for both brokers.
The biggest difference is in charting depth and overall mobile app rating. Charles Schwab gives mobile users access to 374 technical studies, compared with 100 at Eightcap, which may matter more to active chart watchers. Schwab also earns a 5-star Mobile Trading Apps rating and ranks #6 out of 36 brokers on ForexBrokers.com, while Eightcap is rated 4 stars and ranks #32, giving Charles Schwab the edge for mobile trading tools 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 makes it easier to keep up with key news and upcoming events. Charles Schwab has an edge for market research because it also provides forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, while Eightcap does not. Schwab is rated 5 stars for Research and ranks #5 out of 36 brokers at ForexBrokers.com, showing a stronger overall research offering.
Eightcap, on the other hand, includes a sentiment-based trading tool that shows long and short positioning across markets, plus research tools from Acuity Trading such as Signal Centre. Charles Schwab does not offer these extras, and neither broker includes Autochartist, Trading Central, or TipRanks. Even so, Eightcap’s Research score is 3.5 stars and it ranks #34 out of 36, so Charles Schwab remains the better choice for traders who want more in-depth market research.
| 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 looking for learning support, Charles Schwab clearly has the edge over Eightcap. Schwab offers forex and CFDs education, runs online educational client webinars at least once a month, and provides at least 10 beginner videos as well as 10 advanced videos for more experienced traders. That depth of content helps new traders build knowledge step by step, while also giving room to grow. It is reflected in Schwab’s 5-star Education rating and its #6 ranking out of 36 brokers in the Education category from ForexBrokers.com.
Eightcap also has useful starter material, including at least 10 beginner educational videos, but it falls behind Charles Schwab in overall learning support. Based on the information provided, Eightcap does not offer monthly educational webinars, does not provide at least 10 advanced educational videos, and does not appear to offer the same level of forex or CFDs-focused education as Schwab. That gap is shown in Eightcap’s 3.5-star Education rating and its #31 ranking out of 36 brokers, making Schwab the stronger choice for beginners who want more ways to learn.
| 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 |
|
|
| Trust Score | 99 | 87 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | Eightcap | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
| Broker Screenshots | Charles Schwab | Eightcap | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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) - Standard account | 1.27 | 1.0 | |
| All-in Cost EUR/USD - Active | 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 | 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 Watchlist [DELETED] | |||
| 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Charles Schwab Review | Eightcap Review |
| Overall | Charles Schwab | Eightcap | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
Pepperstone
FP Markets
Tickmill