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.
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.
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 | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to commissions and fees, FOREX.com earns 4.5 out of 5 stars and ranks #14 of 63, while Charles Schwab earns 4 out of 5 stars and ranks #26, according to ForexBrokers.com. Both brokers price forex primarily through spreads, but their structures differ in important ways that can affect your total trading costs.
FOREX.com offers a Standard account and a commission-based RAW account. In the U.S., the Standard account’s typical EUR/USD spread was 1.4 pips (July 2023). Outside the U.S., spreads have been tighter at times (e.g., 0.74 pips on EUR/USD in July 2023). The RAW account targets active traders with typical EUR/USD spreads of 0.13 pips (February 2024) plus a $7 per standard lot commission ($3.50 per side), roughly a 0.7-pip equivalent added to the spread. Volume rebates range from $2 to $9 per million, and the plan is available in the U.S., Canada, and the EU. Unless you trade more than $50 million per month, FOREX.com notes the all-in costs for its commission plan can be similar to the Standard account for U.S. residents.
Charles Schwab does not charge a separate forex commission; costs are built into the spread. Its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side of the industry average. All trades settle in U.S. dollars via the Schwab One account (minimum trade size is 10,000 units), and Schwab Global adds access to 12 international markets with currency conversion fees of about 0.2%–1% depending on balance. Schwab also displays overnight financing charges in-platform. Bottom line: Schwab’s commission-free pricing is simple but spread-based, while FOREX.com can deliver lower all-in costs through its RAW account if you trade enough volume; otherwise, costs may look similar to its Standard plan in the U.S.
| 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.
Comparing FOREX.com vs Charles Schwab on range of investments, both brokers support forex trading as CFDs or spot contracts. FOREX.com lists about 5,500 tradeable symbols and 80 currency pairs, while Charles Schwab offers a much larger catalog with roughly 40,000 symbols and 73 forex pairs. Neither firm supports copy trading.
For stocks and ETFs, the difference is clear: FOREX.com does not provide access to U.S. or international exchange-traded securities, whereas Charles Schwab lets clients buy and sell on both U.S. and global exchanges. When it comes to crypto, neither broker offers actual delivered cryptocurrency, but both provide cryptocurrency CFDs. Both earn 5 stars for Range of Investments from ForexBrokers.com, with Charles Schwab ranked #5 and FOREX.com ranked #7 out of 63 brokers—making Schwab the better pick for stock market access and overall variety, while FOREX.com suits traders focused on forex and CFD products.
| 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) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | 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.
FOREX.com and Charles Schwab both provide free paper trading demo accounts, proprietary trading platforms, Windows desktop downloads, and web-based platforms. Both let you trade directly from charts and neither supports copy trading. A key difference is third-party platform support: FOREX.com offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not.
In ForexBrokers.com testing, both earned 5 stars for Trading Platforms and Tools. Within that category, Charles Schwab ranked #5 out of 63 brokers, while FOREX.com ranked #7 out of 63. If MetaTrader access matters, choose FOREX.com; if you want an in-house platform across desktop and web, both are solid options.
| 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) | 88 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FOREX.com vs Charles Schwab: both offer fully featured mobile trading apps on iPhone and Android. Each supports price alerts, synced watchlists between mobile and web, trendline drawing on charts, and automatic saving of chart annotations. In other words, the core tools traders expect are available on both apps.
Where they differ is charting depth and industry placement. Charles Schwab’s mobile app lists 374 technical studies, while FOREX.com offers 88. Despite that gap, ForexBrokers.com rates both apps 5 stars and ranks FOREX.com higher in the Mobile Trading Apps category (#3 of 63) than Charles Schwab (#6 of 63). If you want the widest set of indicators, Charles Schwab stands out; if category ranking matters to you, FOREX.com leads in this comparison.
| 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 | 88 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing FOREX.com vs. Charles Schwab for market research, both brokers deliver daily market commentary, top-tier forex news from sources like Bloomberg/Reuters/Dow Jones, and an economic calendar. Neither platform includes Autochartist, TipRanks, or Acuity Trading tools.
The big differences come from extra tools: FOREX.com offers Trading Central and a sentiment tool that shows the ratio of long vs. short positions, while Schwab does not. Even so, Schwab holds the edge in third-party evaluations with a 5-star Research rating and a #5 rank out of 63 brokers, compared with FOREX.com’s 4.5 stars and #9 rank. Choose FOREX.com if you value Trading Central insights and sentiment data, or pick Schwab if you want a top-rated research experience built around daily commentary, premium news, and a clear calendar of upcoming events.
| 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 #5, 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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| 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 | 0 | 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) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | 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) | 88 | 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 | 88 | 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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