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 | 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 | 1.4 | 1.32 |
| All-in Cost EUR/USD - Active | 0.9 | 1.32 |
| 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 provide options for investors interested in forex trading, offering contracts for difference (CFDs) and spot contracts. FOREX.com provides access to 80 tradeable forex pairs, slightly more than Schwab's offering of 73 pairs, showcasing a bit more variety in currency trading. However, when it comes to the total number of tradeable symbols, Charles Schwab takes the lead significantly with around 40,000 options compared to FOREX.com’s 5,500. This makes Schwab a more versatile choice for those looking to diversify their portfolio across different types of assets, with the opportunity to engage in both domestic and international equity markets.
While FOREX.com focuses more on forex trading and cryptocurrency derivatives, it lacks the direct ability to invest in exchange-traded securities. In contrast, Charles Schwab not only covers forex and crypto derivatives but also allows investors to trade a wide range of U.S. and international exchange-traded securities, enabling transactions in stocks like Apple and Vodafone. Despite the varied offerings, both brokers have achieved a 5-star rating for their range of investments from ForexBrokers.com, with Charles Schwab ranked slightly higher at 5th place compared to FOREX.com's 7th position. Overall, investors must consider the specific types of investments they wish to pursue when choosing between these two platforms.
| 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.
Comparing the trading platforms and tools at FOREX.com and Charles Schwab, both online brokers make it easy to get started with a free paper trading demo account. Each offers a proprietary platform, a Windows desktop download, and a web-based platform, so you can trade the way you prefer. Both also let you place orders directly from charts, helping you act on your analysis without extra clicks.
The key difference is third-party platform support: FOREX.com supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not. Neither broker offers copy trading. In independent reviews by ForexBrokers.com, both earned 5 out of 5 stars for Trading Platforms and Tools; among 63 brokers, FOREX.com is ranked #7 and Charles Schwab is ranked #5.
| 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.
Both FOREX.com and Charles Schwab offer mobile trading apps for iPhone and Android. Each app includes price alerts, watchlists that sync between mobile and your online account, the ability to draw trendlines on charts, and auto‑saved chart drawings, helping you pick up right where you left off.
For charting indicators, Charles Schwab lists 374 technical studies while FOREX.com offers 88. Despite that difference, both apps earned 5-star ratings for Mobile Trading Apps from ForexBrokers.com. Among 63 brokers reviewed, FOREX.com ranked #3 and Charles Schwab ranked #6. Details about multiple time-frame views and real-time watchlist quotes were not specified.
| 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 |
| Mobile Watchlist [DELETED] |
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.
For beginners comparing education at FOREX.com and Charles Schwab, both brokers deliver frequent live learning: each hosts at least one client webinar per month. Video content is a strong point for newcomers and experienced traders alike—both offer 10+ beginner videos and 10+ advanced videos covering trading topics, helping you progress from the basics to more complex strategies at your own pace.
According to ForexBrokers.com, FOREX.com earns 4.5 stars for Education and ranks #4 out of 63 brokers, while Charles Schwab holds a 5-star Education rating and ranks #6. Details weren’t provided on whether either broker offers a searchable archive of past webinars, a 50+ term investor dictionary, or at least 10 dedicated forex/CFD education pieces. If you want a top-ranked education lineup tightly focused on trading, FOREX.com stands out; if you prioritize a perfect education score and frequent webinars with lots of beginner and advanced videos, Charles Schwab is a compelling choice.
| 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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Both FOREX.com and Charles Schwab do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to purchase cryptocurrency derivatives.
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 | 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 (SFC 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 | 1.4 | 1.32 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.32 | |
| 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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