Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FP Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Charles Schwab vs. FP Markets: When it comes to regulation and trust, both brokers score in the highly trusted range on ForexBrokers.com (90–99). Charles Schwab, founded in 1971, is a publicly traded U.S. bank. It holds five Tier-1 licenses (considered highly trusted) and no Tier-2 licenses, earning a 99/99 Trust Score.
FP Markets, founded in 2005, is not publicly traded and is not a bank. It holds two Tier-1 licenses and one Tier-2 license (considered trusted), with a 90/99 Trust Score. While both are rated highly trusted, Schwab has more top-tier licenses, which may appeal to investors who prioritize the highest level of regulatory oversight.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Year Founded | 1971 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
For commissions and fees, FP Markets is generally the cheaper pick for active forex traders, while Charles Schwab is simpler if you want $0 forex commissions and already use thinkorswim. FP Markets earns 4.5 stars and ranks #11 of 63 brokers for Commissions and Fees, thanks to tight spreads on its Raw ECN account and a clear per-lot commission. Charles Schwab earns 4 stars and ranks #23 of 63; it charges no commissions for forex, but its spreads are wider and all trades settle in U.S. dollars. Schwab also has no minimum deposit for its main brokerage accounts, while FP Markets was recognized Best in Class for Commissions and Fees in 2024.
Charles Schwab’s forex pricing is spread-only: no commission, with the EUR/USD averaging 1.35 pips in October 2024 (toward the higher end of the industry). Forex trading runs through thinkorswim via the Schwab One account, with all trades settled in USD. The smallest trade size is 10,000 units (about $500 minimum margin at 20:1 leverage). For international securities, you can trade in USD from Schwab One; to place orders in a foreign currency you must call Schwab. The Schwab Global account lets you access 12 markets in local currencies, with currency conversion fees ranging from 0.2% to 1% depending on your balance. Overnight financing (carry) costs are shown in thinkorswim’s calculator.
FP Markets stands out for low all-in costs on its Raw ECN account: average EUR/USD spreads around 0.1 pips plus a $6 round-turn commission per standard lot (about 0.8 pips all-in as of October 2023). The Standard account is spread-only and averages about 1.1 pips on EUR/USD. You can trade via MetaTrader or cTrader with either pricing model. For share CFDs, FP Markets’ Iress platform offers Direct Market Access with full depth of book; ViewPoint accounts require higher minimums (AUD 1,000 to AUD 50,000) and you’ll need Premier status or at least AUD 150 in monthly commissions to avoid platform/data fees. The lower-cost Iress Investor plan waives monthly fees but limits features like streaming data and charting.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.27 | 1.3 |
| All-in Cost EUR/USD - Active | 1.27 | 0.9 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing the range of investments, Charles Schwab lists about 40,000 tradeable symbols, while FP Markets offers around 10,000. Both brokers support forex trading as CFDs or spot contracts, with Schwab covering 73 currency pairs and FP Markets offering 71. Each provides crypto CFDs but not direct, delivered cryptocurrency. A key difference: Schwab lets you buy real, exchange-traded securities on both U.S. and international exchanges (think Apple on NASDAQ or Vodafone in London), whereas FP Markets does not offer real share dealing on those exchanges.
For extra features, FP Markets includes copy trading, while Schwab does not. In independent assessments for Range of Investments, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers, and FP Markets earns 4.5 stars and ranks #16 out of 63. In short, Schwab suits investors who want a very wide selection including actual shares globally, while FP Markets appeals to traders focused on CFDs, forex, and copy-trading tools.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 10000 |
| Forex Pairs (Total) | 73 | 71 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| 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 Charles Schwab and FP Markets provide free paper trading (virtual demo accounts), proprietary platforms, Windows desktop software, and web-based platforms. Each lets you trade directly from charts. The key differences: FP Markets supports copy trading and offers MetaTrader 4 and MetaTrader 5, while Charles Schwab does not support copy trading or MetaTrader. Details for the number of built-in technical indicators and watchlist fields weren’t specified for either broker.
For quality scores, Charles Schwab earns 5 stars and ranks #7 out of 63 brokers for Trading Platforms and Tools, while FP Markets earns 4 stars and ranks #22, according to ForexBrokers.com. In short, choose Charles Schwab if you want a highly rated in-house platform experience with paper trading; pick FP Markets if you value MetaTrader access and copy trading alongside a demo account.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and FP Markets offer mobile trading apps for iPhone and Android, complete with price alerts, trendline drawing, and auto‑saved chart annotations. The biggest differences show up in watchlists and charting depth. Charles Schwab syncs watchlists between the app and your online account, while FP Markets does not. For technical studies, Schwab packs in 374 indicators, whereas FP Markets relies on MetaTrader’s default set.
In independent testing by ForexBrokers.com, Charles Schwab’s mobile app earned 5 stars and ranked #6 out of 63 brokers, while FP Markets earned 4 stars and ranked #20. If you want extensive indicators and seamless watchlist syncing, Schwab stands out. If you prefer the familiar MetaTrader environment offered by FP Markets, you’ll still get a capable app on both iOS and Android with core alerts and charting tools.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | MetaTrader (Default) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and FP Markets deliver daily market commentary, top-tier forex news (from sources like Bloomberg/Reuters/Dow Jones), and a clear economic calendar. According to ForexBrokers.com, Schwab earns 5 stars for Research and ranks #5 out of 63 brokers, while FP Markets scores 4 stars and ranks #22. The key difference is in third‑party tools: FP Markets includes Autochartist, Trading Central, and a sentiment tool showing long/short positioning—features Schwab does not offer.
If you want high-quality, in-house research coverage alongside daily insights and news, Schwab is a strong pick. If you prefer built-in trading aids to spot chart patterns, technical levels, and crowd sentiment, FP Markets stands out. Either way, both brokers keep traders informed with daily commentary, premium news, and global economic event tracking.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Beginner traders comparing Charles Schwab and FP Markets will find strong education at both brokers. Each runs ongoing online webinars at least monthly and offers 10 or more beginner-friendly trading videos, making it easy to learn the basics at your own pace. Both also provide 10+ advanced videos for when you’re ready to level up. In independent testing, Schwab’s education earned 5 stars and ranked 6th out of 63 brokers at ForexBrokers.com, while FP Markets scored 4 stars and ranked 22nd.
If your focus is forex or CFDs, the information provided here doesn’t confirm whether either broker has a dedicated library of 10+ forex/CFD-specific lessons; check their sites for the latest details. For most newcomers, Charles Schwab edges ahead thanks to its higher rating and ranking, but FP Markets remains a solid pick with frequent webinars and a full set of beginner videos.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| 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 Charles Schwab is better than FP Markets. Charles Schwab finished with an overall rank of #6, while FP Markets finished with an overall rank of #19.
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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FP Markets
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 90 |
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In a Charles Schwab vs FP Markets comparison for cryptocurrency, neither broker lets you buy actual delivered coins, but both offer trading in cryptocurrency CFDs.
Comparing Charles Schwab vs FP Markets for funding and withdrawals: Charles Schwab supports ACH/SEPA and bank wire transfers but not PayPal or Skrill, while FP Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA (Visa/Mastercard availability not specified).
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 | FP Markets | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FP Markets Review |
| Broker Screenshots | Charles Schwab | FP Markets | |
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| Regulation | Charles Schwab | FP Markets | |
|---|---|---|---|
| Trust Score | 99 | 90 | |
| Year Founded | 1971 | 2005 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FP Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | FP Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | FP Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 10000 | |
| Forex Pairs (Total) | 73 | 71 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| 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 | Charles Schwab | FP Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.27 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.27 | 0.9 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FP Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 AUD | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Charles Schwab | FP Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | Charles Schwab | FP Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FP Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | MetaTrader (Default) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | FP Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FP Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Charles Schwab | FP Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Charles Schwab Review | FP Markets Review |
| Overall | Charles Schwab | FP Markets | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FP Markets Review |
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