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 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 charges no commissions on forex; your trading costs come from the spread. In October 2024, Schwab’s average EUR/USD spread was 1.35 pips, which sits on the higher side of the industry. Forex is available through the Schwab One account on thinkorswim, with all trades settling in U.S. dollars. The smallest trade size is 10,000 units (about $500 margin at 20:1). If you want to trade international securities in local currencies, the Schwab Global account supports 12 markets with currency conversion fees of roughly 0.2%–1% based on balance. Schwab also offers an overnight financing calculator inside thinkorswim to estimate carry costs.
Eightcap offers two pricing models: the spread-only Standard account and the commission-based Raw account. On the Raw account, Eightcap lists a 0.06‑pip average spread on EUR/USD, and when you include the $3.50 per side commission, the all-in cost comes to about 0.76 pips—slightly below the 0.8‑pip industry average. While not the absolute cheapest broker overall, Eightcap’s Raw pricing is leaner than Schwab’s typical forex spread.
Verdict on commissions and fees: Eightcap earns 4.5/5 stars and ranks #20 out of 63 brokers with ForexBrokers.com, while Charles Schwab scores 4/5 stars and ranks #23 out of 63. Cost-focused forex traders may prefer Eightcap’s lower all-in EUR/USD pricing, whereas Schwab can appeal if you want no-commission forex with U.S.-dollar settlement, a low barrier to entry (no minimum deposit on primary accounts), and access to thinkorswim.
| 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.
For range of investments, Charles Schwab outpaces Eightcap by a wide margin. Schwab lists about 40,000 tradable symbols compared with Eightcap’s 803. Both brokers support forex trading (CFD or spot), with Schwab offering 73 currency pairs versus Eightcap’s 55. Each provides cryptocurrency trading via CFDs, though neither lets you buy actual crypto.
If you want direct access to real shares, Schwab lets you buy exchange-traded securities on both U.S. and international exchanges (think Apple on NASDAQ and Vodafone in London), while Eightcap doesn’t offer direct share dealing. Eightcap does, however, support copy trading, which Schwab does not. Reflecting the breadth of choices, Schwab earns 5 stars and ranks #5 out of 63 for Range of Investments, whereas 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 | 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.
Comparing Charles Schwab and Eightcap for trading platforms and tools: both brokers provide free paper trading (virtual demo accounts), Windows desktop apps, web-based platforms, and the ability to place orders directly from charts. Charles Schwab offers a proprietary, in-house platform, while Eightcap does not.
For third-party platforms and social features, Eightcap supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and offers copy trading; Charles Schwab does not support MT4/MT5 and does not offer copy trading. Based on ForexBrokers.com ratings for Trading Platforms and Tools, Charles Schwab scores 5 out of 5 stars and ranks #7 out of 63 brokers, while Eightcap scores 4 out of 5 stars and ranks #31 out of 63.
| 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.
Both Charles Schwab and Eightcap offer mobile trading apps for iPhone and Android, with price alerts and watchlists that sync with your online account. Each app lets you draw trendlines on charts and automatically saves your chart annotations. The biggest difference is charting depth: Schwab provides 374 technical studies, while Eightcap includes 30, which may matter if you rely on a wide range of indicators.
In overall app quality, Charles Schwab earns 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps, while Eightcap earns 4 stars and ranks #31. If you want a feature-rich mobile charting experience and top-tier polish, Schwab is the stronger pick. If you prefer a simpler setup for everyday trading with alerts and synced watchlists, 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.
When comparing market research, both Charles Schwab and Eightcap deliver daily market commentary and an easy-to-use economic calendar. Schwab stands out by offering forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, while Eightcap does not. Neither broker includes Autochartist, Trading Central, or TipRanks. Eightcap, however, adds a sentiment tool that shows long/short positioning and provides research from Acuity Trading’s Signal Centre—features Schwab doesn’t offer.
On overall research quality, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers at ForexBrokers.com, while Eightcap holds 3.5 stars and ranks #33. If you want premium news coverage and higher-rated research, Schwab is the stronger choice. If you prefer sentiment data and third‑party signals from Acuity Trading, Eightcap may fit your style.
| 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.
Comparing education for beginners, both Charles Schwab and Eightcap make it easy to get started. Each hosts client webinars at least once a month and offers a library with 10 or more beginner-focused trading videos, so new traders can learn core concepts and build confidence through live sessions and on-demand lessons.
The big difference shows up as you advance. Charles Schwab also provides at least 10 videos for experienced traders, giving beginners a clear path as their skills grow. Eightcap does not meet that advanced-video threshold, which limits progression. That gap is reflected in independent ratings: Schwab earns 5 stars for Education and ranks #6 out of 63 brokers at ForexBrokers.com, while Eightcap scores 3.5 stars and ranks #31. If you want an education track that starts at the basics and keeps going, Schwab is the stronger pick; if you only need foundational content, Eightcap can still cover the essentials.
| 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 #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 | 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 | 1.27 | 1.0 | |
| All-in Cost EUR/USD - Active | 1.27 | 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 | 87 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Eightcap Review |
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