Written by ForexBrokers.com
In this head to head comparison of FOREX.com vs Charles Schwab, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Since its founding in 1999, FOREX.com has established itself as a highly regarded online broker, indicated by its impeccable Trust Score rating of 99 from ForexBrokers.com. As a publicly traded entity, it offers a secure trading environment, supported by its seven Tier-1 licenses that reflect top-tier trust. Though it is not a bank, FOREX.com holds a Tier-2 license, adding another layer of reliability for its users, making it an attractive choice for those seeking a highly trusted trading platform.
In operation since 1971, Charles Schwab stands as both an established bank and a publicly traded company, offering a comprehensive range of financial services. Like FOREX.com, Charles Schwab carries a pristine Trust Score rating of 99, signifying its reputation as a highly trusted broker. Holding five Tier-1 licenses, it demonstrates significant authority and reliability in the financial space. However, it does not possess any Tier-2 licenses, which distinguishes it slightly from its peer, FOREX.com, in terms of regulatory breadth.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1999 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 1 | 0 |
| Tier-4 Licenses | 1 | 0 |
FOREX.com offers two main pricing paths: a spread-only Standard account and a commission-based RAW account. In the U.S., the Standard account’s typical EUR/USD spread is about 1.4 pips (July 2023), while traders outside the U.S. saw around 0.74 pips on EUR/USD in July 2023. The RAW account (available in the U.S., Canada, and the EU) posts typical EUR/USD spreads near 0.13 pips (Feb 2024) plus a $7 commission per standard lot, putting the all-in cost around 0.83 pips before volume rebates. There are six volume tiers with rebates from $2 to $9 per million; however, unless you trade more than $50 million per month, the RAW account’s all-in costs for U.S. clients tend to land close to the Standard account.
Charles Schwab charges no commissions for forex; your trading cost is the bid/ask spread. In October 2024, the average EUR/USD spread was about 1.35 pips, which sits on the higher end of the industry range. Forex trades settle in U.S. dollars and the minimum trade size is 10,000 units (about $500 minimum margin at 20:1 leverage). If you use the Schwab Global account and fund in a different currency than the market you’re trading, conversion fees apply (about 0.2% to 1%). Overnight carry charges are displayed in a calculator within the platform so you can estimate holding costs in advance.
Bottom line: high‑volume traders who can tap FOREX.com’s RAW pricing and rebates may achieve lower all‑in costs than Schwab’s spread-only model. For casual U.S. traders, Schwab’s average 1.35‑pip spread is slightly lower than FOREX.com’s 1.4‑pip Standard spread, while FOREX.com can be cheaper outside the U.S. at around 0.74 pips. Ratings and rankings: FOREX.com earns 4.5 out of 5 stars and ranks #15 of 63 for Commissions and Fees; Charles Schwab earns 4 out of 5 stars and ranks #23 of 63.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Average spread (EUR/USD) - Standard account | 1.00 | 1.27 |
| All-in Cost EUR/USD - Active | 1.13 | 1.27 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FOREX.com and Charles Schwab both support forex trading and let clients access U.S. and international exchange‑traded stocks, with availability varying by region. Neither offers copy trading or the ability to buy actual cryptocurrency, but both provide crypto exposure through CFDs where available. In terms of market depth, FOREX.com lists about 5,500 tradable symbols and 80 currency pairs, while Charles Schwab offers around 40,000 tradable symbols and 73 currency pairs—so Schwab covers far more overall markets, and FOREX.com edges ahead on FX pairs.
Both brokers earn 5 out of 5 stars for Range of Investments. In ForexBrokers.com’s rankings out of 63 brokers, Charles Schwab places #5 and FOREX.com ranks #6, reflecting excellent breadth from both—Schwab for sheer number of markets, and FOREX.com for its slightly wider currency pair lineup.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 40000 |
| Forex Pairs (Total) | 80 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| 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.
Comparing trading platforms and tools, both FOREX.com and Charles Schwab offer free paper trading (demo accounts), proprietary platforms, Windows desktop software, and web-based platforms. Each lets you place orders directly from charts. Neither broker supports copy trading. Both provide charting with technical indicators and watchlists, making it easy to monitor markets and manage trades in one place.
The biggest platform difference is MetaTrader: FOREX.com supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not. In ForexBrokers.com’s Trading Platforms and Tools category, both brokers earn 5 out of 5 stars, with FOREX.com ranked #5 of 63 and Charles Schwab ranked #7. If MT4/MT5 access matters to you, FOREX.com is the better fit; if you prefer staying within Schwab’s proprietary tools, Schwab remains a strong choice.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 90 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FOREX.com and Charles Schwab offer mobile trading apps for iPhone and Android. Each app supports price alerts, watchlist syncing with your online account, and hands-on charting: you can draw trendlines and your drawings auto-save across sessions. In everyday use, that means you can set alerts, manage the same watchlist on phone and web, and return to charts with your annotations intact. Both brokers earned 5 stars for Mobile Trading Apps.
Where they differ most is charting depth and industry ranking. Charles Schwab packs in 374 technical studies, far more than FOREX.com’s 90, which may appeal if you rely on many indicators. However, ForexBrokers.com ranks FOREX.com higher in the Mobile Trading Apps category—#2 out of 63 brokers versus Schwab’s #6—so if overall mobile experience and category standing matter to you, FOREX.com has the edge, while Schwab shines for indicator variety.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 90 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at FOREX.com vs Charles Schwab: both brokers deliver daily market commentary, forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and an easy-to-browse economic calendar. Neither platform integrates Autochartist, TipRanks, or Acuity Trading research.
Key differences: FOREX.com adds Trading Central tools and a sentiment gauge showing the ratio of long vs short positions across currency pairs—features Charles Schwab does not offer. That said, Schwab holds a higher Research score and ranking (5 stars, #5 of 63) than FOREX.com (4.5 stars, #7 of 63) on ForexBrokers.com. If you want sentiment data and Trading Central, FOREX.com stands out; if you prefer a higher-rated research experience overall, Charles Schwab leads.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing FOREX.com vs. Charles Schwab for beginner education, both brokers make getting started straightforward. Each runs online client webinars at least once a month and offers sizeable video libraries, including 10 or more beginner videos that walk through trading basics, plus 10 or more advanced videos for when you’re ready to level up. New traders can learn at their own pace with on-demand lessons and keep current through live sessions.
On scores, FOREX.com earns 4.5 out of 5 stars for Education and ranks #4 out of 63 brokers with ForexBrokers.com. Charles Schwab earns a perfect 5 out of 5 stars and ranks #6 out of 63. In short, both provide plenty of beginner-friendly learning through frequent webinars and deep video catalogs, with Schwab edging on star rating and FOREX.com placing higher in the category ranking.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FOREX.com is better than Charles Schwab. FOREX.com finished with an overall rank of #4, while Charles Schwab finished with an overall rank of #6.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In a FOREX.com vs Charles Schwab comparison for crypto, neither broker supports buying actual, delivered cryptocurrencies, but while FOREX.com offers cryptocurrency CFD trading (in select regions), Charles Schwab does not provide crypto CFDs.
In a FOREX.com vs Charles Schwab comparison of deposit and withdrawal methods, both online brokers support ACH/SEPA and bank wire transfers, but only FOREX.com offers PayPal and Skrill, while Visa/Mastercard availability is not specified for either.
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 | FOREX.com | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Charles Schwab Review |
| Broker Screenshots | FOREX.com | Charles Schwab | |
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| Broker Gallery (click to expand) |
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| Regulation | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1999 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 1 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) | No |
| Investments | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 40000 | |
| Forex Pairs (Total) | 80 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| 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 | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.00 | 1.27 | |
| All-in Cost EUR/USD - Active | 1.13 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $100 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 90 | 374 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | Charles Schwab | |
|---|---|---|---|
| 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 | 90 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FOREX.com | Charles Schwab | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FOREX.com Review | Charles Schwab Review |
| Overall | FOREX.com | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Charles Schwab Review |
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