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 straightforward pricing for forex traders, but they take different approaches to commissions and fees. Schwab does not charge a forex commission, so your main trading cost is the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side compared with many brokers. Schwab’s appeal is that its main brokerage accounts have no minimum deposit, and the Schwab One account gives access to thinkorswim and forex trading, though trades are settled in U.S. dollars and the smallest trade size is 10,000 units.
Eightcap gives traders a choice between a spread-only Standard account and a commission-based Raw account. The Raw account shows an average spread of 0.06 pips, and once the $3.50 per-side commission is added, the all-in cost comes to about 0.76 pips, which is close to the industry average. For active forex traders, that generally makes Eightcap the lower-cost choice on pricing, though it is still a bit more expensive than the very cheapest brokers.
In ForexBrokers.com’s commissions and fees category, Eightcap edges out Schwab on value: Eightcap is rated 4.5 stars and ranked #20 out of 36 brokers, while Charles Schwab is rated 4 stars and ranked #23 out of 36 brokers.
| 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.
When it comes to range of investments, Charles Schwab offers far more choice than Eightcap. Schwab lists about 40,000 tradeable symbols and 73 forex pairs, while Eightcap offers 803 symbols and 55 forex pairs. Both brokers support forex trading as CFDs or spot contracts, and both let clients trade cryptocurrency CFDs, but neither offers copy trading or the ability to buy actual, delivered crypto.
Charles Schwab also stands out for access to real exchange-traded securities on both U.S. and international markets, so investors can buy shares like Apple or Vodafone directly. Eightcap does not offer this type of stock investing. Reflecting these differences, Charles Schwab earns 5 out of 5 stars for Range of Investments and ranks #5 out of 36 brokers, while Eightcap scores 3.5 stars and ranks #29.
| 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 the basics they need, including free paper trading, web-based and Windows desktop platforms, and the ability to place trades directly from a chart. Neither broker offers copy trading, so if you want to follow other traders automatically, you will need to look elsewhere. The biggest difference is that Charles Schwab offers its own in-house trading platform, while Eightcap does not. Eightcap also stands out for supporting MetaTrader 4 and MetaTrader 5, which may appeal to traders who prefer those widely used platforms.
For trading platforms and tools, Charles Schwab is rated higher overall, earning 5 out of 5 stars and ranking #7 out of 36 brokers at ForexBrokers.com. Eightcap is rated 4 out of 5 stars and ranks #31 out of 36 in the same category. In simple terms, Schwab is the stronger pick if you want a top-rated all-around platform experience, while Eightcap may be the better fit if you specifically want MT4 or MT5 support.
| 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 make it easy to trade on the go with iPhone and Android apps, plus price alerts and watchlist syncing between mobile and online accounts. Each app also lets users draw trendlines on charts and saves those drawings automatically, which helps traders keep track of ideas without having to start over each time.
The bigger difference is in charting and overall app quality. Charles Schwab offers 374 technical studies in its mobile app, far more than Eightcap’s 100, and it earns a 5-star Mobile Trading Apps rating from ForexBrokers.com, compared with Eightcap’s 4 stars. That edge also shows up in rankings: Charles Schwab places #6 out of 36 brokers for mobile trading apps, while Eightcap ranks #31.
| 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, so each platform can help you stay on top of major news and scheduled events. Charles Schwab goes further with forex news from top sources such as Bloomberg, Reuters, and Dow Jones, while Eightcap does not offer this same level of third-party news coverage. Neither broker includes Autochartist, Trading Central, or TipRanks research tools.
Where the two differ most is in added research features and overall strength. Eightcap offers a sentiment-based trading tool and Acuity Trading research, which Charles Schwab does not. Even so, Charles Schwab is rated 5 stars for Research and ranks #5 out of 36 brokers at ForexBrokers.com, compared with Eightcap’s 3.5-star Research rating and #33 ranking. Overall, Charles Schwab has the edge for market research, while Eightcap offers a few helpful extras.
| 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
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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) - 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 | |
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| Trust Score | 99 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
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