Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Exness, 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, founded in 1971, stands as a highly trusted and established financial entity in the online brokerage world. It is publicly traded on a stock exchange and operates as a bank, offering a sense of security and stability. Rated with a perfect Trust Score of 99 by ForexBrokers.com, Charles Schwab holds an impressive five Tier-1 licenses, showcasing its significant regulatory oversight and commitment to trustworthy client dealings.
In comparison, Exness, which entered the market in 2008, is not publicly traded and does not operate as a bank. It holds a Trust Score of 81, categorizing it as trusted according to ForexBrokers.com. Exness has secured two Tier-1 licenses and three Tier-2 licenses, reflecting its commitment to adhering to regulatory standards though it remains less established than Charles Schwab. Ultimately, both entities offer trusted services, yet Charles Schwab's longer history and stronger regulatory foundation may appeal to those prioritizing these factors.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Year Founded | 1971 | 2008 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing Charles Schwab and Exness for commissions and fees, there are several key differences to consider. Charles Schwab is known for its accessibility with no minimum deposit requirement, making it appealing for new traders. It offers two main account types for forex trading—Schwab One and Schwab Global. Through Schwab One, traders can access the thinkorswim platform for forex trades settled in U.S. dollars, with a minimum trade size of 10,000 units. Although Schwab doesn't charge commissions on forex trading, the average spread on the EUR/USD is 1.35 pips, which is on the higher end. Additional costs include currency conversion fees ranging from 0.2% to 1% with a Schwab Global account. Charles Schwab's commissions and fees are rated 4 out of 5 stars, ranking #23 out of 63 brokers by ForexBrokers.com.
On the other hand, Exness provides a wide range of account types, including two standard accounts and three professional accounts, plus specific options for social copy trading. Costs vary with the account choice: commission-free accounts generally have higher spreads, while commission-based accounts offer lower spreads. For instance, the Zero Spread account provides market execution with a per-trade commission of $0.05, and the Raw account charges up to $7 per round turn lot. Both have no restrictions on leverage but trigger margin calls at 30%. With a similar rating to Schwab, Exness also scores 4 out of 5 stars for commissions and fees, but ranks lower at #35 out of 63 brokers.
Overall, both Charles Schwab and Exness offer competitive options depending on your trading needs. Schwab's strength lies in its no-minimum account entry, although its trading costs can add up due to higher spreads. In contrast, Exness provides more flexibility with a variety of account choices tailored to different trading strategies, but the cost structures can become complex depending on the account type. Each has strengths and considerations, making the choice dependent on your specific trading preferences and financial goals.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Minimum Deposit | $0 | $10 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments available through Charles Schwab and Exness, both brokers offer the ability to trade forex as a CFD or spot contract. However, the scope of tradable symbols varies significantly. Charles Schwab provides an extensive selection with 40,000 tradable symbols, including 73 forex pairs, as well as the opportunity to trade exchange-traded securities on both U.S. and international exchanges. In contrast, Exness offers a narrower selection with 227 tradeable symbols but features a higher number of forex pairs at 96. Notably, Exness does not provide access to exchange-traded securities on U.S. or international exchanges.
On the front of cryptocurrency trading, both brokers allow trading through derivatives but neither offers the option to purchase actual cryptocurrencies. Unlike Charles Schwab, which does not support copy trading, Exness provides this feature for users interested in mirroring the trades of experienced investors. In terms of ratings, Charles Schwab stands out with a 5-star rating for its range of investments and ranks 5th among 63 brokers, showcasing its broad investment options. Exness, meanwhile, holds a 3.5-star rating and is ranked 55th, highlighting a more specialized focus on forex and derivative trading.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 227 |
| Forex Pairs (Total) | 73 | 96 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When comparing the trading platforms and tools of Charles Schwab and Exness, both brokers offer a range of options to suit traders' needs, featuring simulated or paper trading through free virtual demo accounts. Each broker provides its own proprietary platform, alongside a Windows-based desktop download and a web-based trading platform. While both firms allow users to trade directly from a stock chart, Exness stands out by offering copy trading and compatibility with popular platforms like MetaTrader 4 and MetaTrader 5, unlike Charles Schwab. Schwab, on the other hand, excels in providing extensive technical tools, offering 580 columns for watch lists and 24 drawing tools for charting, compared to Exness's 7 watch list columns and 87 drawing tools.
For overall performance in trading platforms and tools, Charles Schwab is rated five stars, securing the 5th spot out of 63 brokers by ForexBrokers.com. Its thorough range of features and tools meets traders’ demands with convenience and professionalism. Exness, while also featuring an appealing set of tools, earns a four-star rating and is placed 26th. The lack of some advanced tools, particularly in watch list fields, contrasts with the broker’s strengths in platform versatility and charting capabilities. Both platforms serve the trading community well, but the choice between them hinges on the specific functionalities traders prioritize.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 107 |
| Charting - Drawing Tools (Total) | 24 | 87 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and Exness, it's clear that both platforms cater to users seeking comprehensive trading tools. Their apps are available on both iPhone and Android, allowing traders to stay connected on the go. Both Charles Schwab and Exness support stock and forex price alerts, as well as the ability to draw trendlines and view multiple time frames on their charts. However, Charles Schwab takes a step ahead with its ability to sync watchlist symbols with an online account, whereas Exness lacks this feature. Regarding watchlist creation with real-time quotes, both apps provide this functionality, enhancing the traders' ability to track market movements closely.
For traders focused on technical analysis, Charles Schwab offers a much more detailed experience with 374 technical studies compared to Exness's 35. Schwab's app also automatically saves chart drawings, which is not the case with Exness. User reviews reflect these advantages as well, with Charles Schwab's mobile trading app receiving a 5-star rating, outranking Exness, which holds a 4-star rating. This is further supported by their respective rankings by ForexBrokers.com, with Charles Schwab securing the 6th place out of 63 brokers, while Exness stands at 26th. These differences make Charles Schwab an appealing choice for traders who prioritize comprehensive tools and seamless cross-platform functionalities.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 35 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between Charles Schwab and Exness, both brokers provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. However, Exness distinguishes itself by offering technical analysis tools from Trading Central and a sentiment-based trading tool that helps traders gauge market positions on currency pairs. On the other hand, Charles Schwab, rated five stars for its research capabilities, doesn't offer these specific tools but maintains a high ranking with its comprehensive economic calendar and consistent market insights.
Although Exness also provides an economic calendar and has a strong suite of features, its research tools earn it a rating of 3.5 stars, reflecting a broader but slightly less acclaimed offering than Charles Schwab. When it comes to broker rankings by ForexBrokers.com, Charles Schwab stands strong in 4th place out of 63 brokers, underscoring its superior research credentials, while Exness holds the 41st position, indicating room for improvement in its research capabilities.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Charles Schwab and Exness both provide educational resources for beginners interested in forex and CFDs. Charles Schwab shines with a comprehensive suite of learning tools that includes a variety of educational pieces like articles, videos, and archived webinars, all focusing on forex or CFDs. They hold regular online educational webinars, at least once a month, which are accessible in an easily searchable archive. Schwab also supports beginners with over 10 videos specifically crafted for those new to trading, complemented by an investor dictionary featuring over 50 investing terms. These resources are reflected in their high rating of five stars for education and their commendable ranking of 6th out of 63 brokers in terms of educational offerings according to ForexBrokers.com.
Exness, similarly, offers over 10 educational pieces related to forex and CFDs, supplemented by a robust collection of beginner-focused trading videos and an expansive investor dictionary. However, it falls short compared to Schwab due to the absence of regular monthly educational webinars. Despite providing a searchable archive of its recorded webinars, Exness does not focus as much on advanced educational content, lacking over 10 advanced videos for experienced traders. Consequently, Exness holds a 3.5-star educational rating and is ranked 47th among 63 brokers by ForexBrokers.com, highlighting room for growth in its educational resources for traders.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
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 Exness. Charles Schwab finished with an overall rank of #6, while Exness finished with an overall rank of #43.
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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Exness
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 81 |
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Both Charles Schwab and Exness do not offer the option to purchase actual cryptocurrency with delivery, but they both provide the ability to trade cryptocurrency derivatives.
While Charles Schwab supports ACH, SEPA transfers, and bank wires for account funding, but not PayPal, Skrill, Visa, or Mastercard, Exness provides options for Skrill, Visa, Mastercard, and bank wires, yet lacks ACH, SEPA, and PayPal support, highlighting distinct payment flexibility between the online brokers.
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 | Exness | |
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| Trust Score | 99 | 81 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Exness Review |
| Broker Screenshots | Charles Schwab | Exness | |
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| Regulation | Charles Schwab | Exness | |
|---|---|---|---|
| Trust Score | 99 | 81 | |
| Year Founded | 1971 | 2008 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Exness | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Exness | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | Yes |
| Investments | Charles Schwab | Exness | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 227 | |
| Forex Pairs (Total) | 73 | 96 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Exness | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Exness | |
|---|---|---|---|
| Minimum Deposit | $0 | $10 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | Exness | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Exness | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 107 | |
| Charting - Drawing Tools (Total) | 24 | 87 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Exness | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 35 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Exness | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Exness | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Exness | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | Exness Review |
| Overall | Charles Schwab | Exness | |
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| Trust Score | 99 | 81 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Exness Review |
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