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.
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Charles Schwab, founded in 1971, stands out in the financial industry with its status as a publicly traded company and a registered bank. With a perfect Trust Score of 99 from ForexBrokers.com, Charles Schwab is considered highly trusted within the brokerage community. It holds five Tier-1 licenses, reinforcing its strong regulatory standing. Customers seeking a broker with a long-standing history and trustworthy reputation may find Charles Schwab appealing due to its combination of banking authority, market presence, and high level of regulatory compliance.
On the other hand, Eightcap, established in 2009, is not publicly traded and operates without the backing of a bank. Despite this, Eightcap secures a respected position in the trading world with a ForexBrokers.com Trust Score of 85, marking it as a trusted broker. It holds three Tier-1 licenses, indicating a solid regulatory framework. Traders looking for a reliable option within the online brokerage space will find Eightcap's track record appealing, though it's important to note its shorter history compared to Charles Schwab.
| 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 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Charles Schwab and Eightcap both earn 4 out of 5 stars for commissions and fees. In the ForexBrokers.com rankings, Schwab is #26 of 63 and Eightcap is #27 of 63. Schwab charges no commission on forex; you pay the spread, which averaged 1.35 pips on EUR/USD in October 2024. Eightcap offers two pricing paths: its Standard account is spread-only, while its Raw account shows near‑zero spreads but adds a $3.50 per‑side commission, bringing the typical all‑in EUR/USD cost to about 0.76 pips (slightly below the 0.8‑pip industry average). In short, Eightcap’s Raw account can be cheaper per trade on majors, while Schwab keeps pricing simple with no commission.
At Schwab, there’s no minimum deposit for the main brokerage accounts, and forex trading is available through the Schwab One account on thinkorswim. Trades settle in U.S. dollars, and the smallest trade size is 10,000 units (about $500 minimum margin at 20:1 leverage). If you use the Schwab Global account to access local markets, currency conversion fees of roughly 0.2% to 1% may apply based on your balance. Schwab also shows overnight financing (carry) inside thinkorswim so you can estimate holding costs.
Eightcap operates under several regulators (Australia, Bahamas, U.K., Cyprus) and keeps pricing straightforward: choose spread‑only Standard or commission‑based Raw. The Raw account lists an average 0.06‑pip spread; after the $3.50 per‑side commission, the all‑in cost is around 0.76 pips on EUR/USD. The Standard account folds costs into wider spreads. Overall, Eightcap isn’t the very cheapest broker on the market, but its Raw pricing can undercut Schwab’s average spread, whereas Schwab offers zero‑commission simplicity and no account minimum.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.32 | 1.0 |
| All-in Cost EUR/USD - Active | 1.32 | 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.
When it comes to range of investments, Charles Schwab delivers far more choice than Eightcap. Schwab lists about 40,000 tradeable symbols versus Eightcap’s 803, and offers 73 forex pairs compared with Eightcap’s 55. Schwab also lets you buy and own exchange-traded securities on both U.S. and international exchanges (for example, Apple on NASDAQ and Vodafone in London), while Eightcap does not offer direct stock ownership. Both brokers support forex trading (CFD or spot) and provide cryptocurrency via CFDs, but neither allows purchasing actual, delivered crypto.
Feature-wise, Eightcap includes copy trading, which Schwab does not. Overall, Charles Schwab earns 5 stars for Range of Investments and ranks #5 out of 63 brokers on ForexBrokers.com, while Eightcap scores 3.5 stars and ranks #41—clear signals that Schwab offers a broader product lineup, whereas Eightcap’s menu is more CFD-focused.
| 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 | Yes |
| 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 vs Eightcap: both brokers offer paper trading (free demo accounts), plus web platforms, Windows desktop software, and the ability to place orders directly from charts. In independent testing of trading platforms and tools, Charles Schwab earned 5 stars and ranked #5 out of 63 brokers, while Eightcap earned 4 stars and ranked #39.
The key differences come down to platform choice. Charles Schwab offers a proprietary, in-house platform, whereas Eightcap does not. On the flip side, Eightcap supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and also offers copy trading—features that Charles Schwab does not provide. If you want a highly rated, broker-built platform, Charles Schwab stands out; if you prefer MT4/MT5 or copy trading, Eightcap is the better fit.
| 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 | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and Eightcap both deliver mobile trading apps for iPhone and Android. Each app includes price alerts, synced watchlists that match your online account, and charting tools with trendline drawing and auto-saved annotations—handy for trading on the go.
The big difference is charting depth and third-party ratings. Schwab’s app offers 374 technical studies (indicators) compared with Eightcap’s 30. ForexBrokers.com rates Schwab 5 stars and ranks it 6th out of 63 brokers for Mobile Trading Apps, while Eightcap earns 4 stars and ranks 39th. If you want a wider range of indicators and a higher-rated experience, Schwab stands out; if you mainly need core tools with alerts, syncing, and basic drawing, Eightcap covers the essentials.
| 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 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In a Charles Schwab vs Eightcap research comparison, both brokers deliver daily market commentary and an economic calendar to track upcoming events. Charles Schwab stands out for premium forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, which can be a big help for news-driven traders. While Schwab does not include Autochartist, Trading Central, TipRanks, or sentiment tools, its overall research package earns a 5-star rating and a #5 ranking out of 63 brokers for Research by ForexBrokers.com.
Eightcap also offers daily commentary and a handy economic calendar, but it does not provide top-tier wire news. Instead, it leans on a sentiment tool (showing the ratio of long vs. short positions) and research from Acuity Trading. Like Schwab, Eightcap does not offer Autochartist, Trading Central, or TipRanks. Overall, Eightcap’s research earns 3.5 stars and ranks #40 out of 63 for Research by ForexBrokers.com—suited to traders who value sentiment insights and straightforward, in-platform research over premium news feeds.
| 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.
Charles Schwab stands out for beginner trading education. Both Schwab and Eightcap host ongoing client webinars (at least monthly) and each offers at least ten beginner-friendly videos. Schwab also supplies at least ten advanced videos for when you’re ready to go deeper, while Eightcap does not meet that mark. In ForexBrokers.com’s Education category, Schwab earns 5 stars and ranks #6 out of 63 brokers, compared with Eightcap’s 3.5 stars and #40.
If you’re looking specifically for a forex or CFD education library, the details here do not confirm whether either broker provides ten or more pieces focused on those topics. For most beginners, Schwab’s larger video lineup and higher third-party rating make it the stronger pick, while Eightcap still works if you want basic starter videos plus regular webinars.
| Feature |
Charles Schwab
|
Eightcap
|
|---|---|---|
| Webinars | Yes | Yes |
| 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 #38.
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
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Eightcap
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|---|---|---|
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| Trust Score | 99 | 85 |
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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 | 85 | |
| 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 | 85 | |
| 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 | 0 | |
| 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 (SFC 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 SCA 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 | Yes | |
| 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 | 1.32 | 1.0 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.76 | |
| Inactivity Fee | No | No | |
| 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 | Yes | |
| 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 | 30 | |
| 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 | 30 | |
| 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 | Yes | |
| 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 | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
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