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.
FOREX.com vs. Charles Schwab: Both online brokers are publicly traded and each earns a 99/99 Trust Score from ForexBrokers.com—putting them in the highly trusted 90–99 range (80–89 trusted, 70–79 average risk, 60–69 high risk, below 59 not trusted). FOREX.com, founded in 1999, is not a bank; Charles Schwab, founded in 1971, is a bank.
Regulatory coverage differs. FOREX.com holds 7 Tier-1 licenses and 2 Tier-2 licenses (considered highly trusted and trusted, respectively, by ForexBrokers.com), while Charles Schwab holds 5 Tier-1 licenses and 0 Tier-2 licenses. Despite the different license counts, both earn the top Trust Score, signaling strong oversight for everyday investors.
| 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 | 2 | 0 |
| Tier-3 Licenses | 1 | 0 |
| Tier-4 Licenses | 1 | 0 |
FOREX.com and Charles Schwab both give traders access to forex, but their fee structures are different. FOREX.com is rated 4.5 out of 5 stars and ranks #15 out of 36 brokers for commissions and fees. Its pricing can be a little higher than average, especially on the Standard account, where U.S. EUR/USD spreads averaged about 1.4 pips. The Raw account has much tighter spreads, around 0.13 pips, but it adds a commission of $7 per standard lot at the lowest tier, plus volume-based rebates for active traders. For many U.S. traders, the all-in cost can end up close to the Standard account unless they trade very large volumes.
Charles Schwab is rated 4 out of 5 stars and ranks #25 out of 36 brokers for commissions and fees. Schwab does not charge a separate commission on forex trades, so the cost comes from the spread instead. Its average EUR/USD spread was about 1.35 pips in October 2024, which is on the higher side compared with many competitors. Schwab may appeal to beginners because there is no minimum deposit on its main account types, but forex traders should know that trade sizes are larger and all trades settle in U.S. dollars.
In short, FOREX.com offers more pricing choices and can be cheaper for active traders using the Raw account, while Schwab keeps things simpler with commission-free forex trading but wider spreads. If you want tighter pricing and are willing to pay a commission, FOREX.com is usually the stronger pick for fees. If you prefer a simpler setup and already use Schwab for other investing, Schwab may still be a practical option.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.00 | 1.27 |
| All-in Cost EUR/USD - Raw spread account | 1.13 | 1.27 |
| Non-wire bank transfer (Deposit/Withdraw) | 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 give traders access to forex trading, whether through spot contracts or CFDs, and each also lets clients buy exchange-traded securities on U.S. and international exchanges. Neither broker offers copy trading, and neither supports buying actual, delivered cryptocurrency. Both do, however, offer cryptocurrency CFDs. For investors who want a mix of stocks, forex, and crypto exposure through derivatives, either platform can work.
Where Charles Schwab pulls ahead is choice: it offers about 40,000 tradeable symbols and 73 forex pairs, compared with 7,000 symbols and 55 forex pairs at FOREX.com. Still, both brokers earn 5 out of 5 stars for Range of Investments, with Charles Schwab ranked #5 and FOREX.com ranked #6 by ForexBrokers.com in this category. In short, both are strong options, but Schwab offers a wider selection overall.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7000 | 40000 |
| Forex Pairs (Total) | 55 | 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.
FOREX.com and Charles Schwab both give traders a strong set of platform and tool options, including free paper trading, proprietary platforms, Windows desktop downloads, web-based trading, and the ability to place trades directly from a stock chart. Each broker also earns a top 5-star rating for Trading Platforms and Tools, showing that both are well-regarded for helping users analyze markets and place trades with ease. In ForexBrokers.com’s rankings, FOREX.com comes in at #5 out of 36 brokers, while Charles Schwab follows at #7.
One key difference is that FOREX.com supports both MetaTrader 4 and MetaTrader 5, which may appeal to traders who want access to those popular third-party platforms. Charles Schwab does not offer MT4 or MT5, and neither broker includes copy trading. Overall, FOREX.com may have the edge for traders who want more platform choices, while Charles Schwab still offers a solid trading experience with its own tools and platform lineup.
| 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.
FOREX.com and Charles Schwab both make it easy to trade on the go with iPhone and Android apps, price alerts, and watchlist syncing between the mobile app and online account. Each app also lets users draw trendlines on charts and auto-saves those drawings, which is helpful for keeping track of market ideas across devices. Both brokers earn a 5-star rating for mobile trading apps, so either choice offers a strong mobile experience for everyday traders.
Where the two differ most is in charting tools. FOREX.com offers 90 technical studies in its mobile app, while Charles Schwab gives users 374, making Schwab the better pick for traders who want a wider range of chart indicators. Even so, FOREX.com is ranked higher overall in the Mobile Trading Apps category by ForexBrokers.com, coming in at #2 out of 36 brokers, compared with Charles Schwab at #6. In short, FOREX.com stands out for its overall mobile app ranking, while Charles Schwab leads when it comes to charting depth.
| 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.
FOREX.com and Charles Schwab both perform well in market research, giving traders daily market commentary, news from top sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar with current and upcoming global events. Each broker earns a 5-star rating for research, showing that both are strong choices for traders who want regular market updates and broad news coverage.
Where they differ is in extra research tools. FOREX.com stands out with Trading Central analysis and a sentiment tool that shows long and short positioning across currency pairs, while Charles Schwab does not offer those features. Neither broker includes Autochartist, TipRanks, or Acuity Trading tools. In ForexBrokers.com’s Research category, Charles Schwab ranks slightly higher at #5 out of 36 brokers, compared with FOREX.com at #7.
| 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.
When it comes to beginner-friendly trading education, both FOREX.com and Charles Schwab give new traders plenty to work with. Each broker offers forex or CFDs education with at least 10 learning pieces focused on those markets, plus monthly online webinars and at least 10 beginner videos and 10 advanced videos. In other words, both platforms make it easy for beginners to learn the basics and keep building skills over time.
That said, FOREX.com has a slight edge in education based on third-party rankings. Both brokers earn 5 out of 5 stars for Education, but FOREX.com is ranked #4 out of 36 brokers by ForexBrokers.com, while Charles Schwab is ranked #6. For beginners comparing online brokers, either choice offers strong educational support, but FOREX.com comes out a bit ahead overall.
| 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 | 2 | 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 CMA 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) | 7000 | 40000 | |
| Forex Pairs (Total) | 55 | 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) - Spread-only account | 1.00 | 1.27 | |
| All-in Cost EUR/USD - Raw spread account | 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 (Deposit/Withdraw) | 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 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | FOREX.com Review | Charles Schwab Review |
| Overall | FOREX.com | Charles Schwab | |
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| Range of Investments |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Charles Schwab Review |
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