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.
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.
Charles Schwab, established in 1971, stands out in the online brokerage landscape with its impressive credentials. As a publicly traded company that also operates as a bank, it garners the highest ForexBrokers.com Trust Score of 99, supported by five Tier-1 licenses, signifying the utmost trust. These credentials establish Charles Schwab as a highly reliable choice for investors seeking confidence and security in their financial ventures.
In comparison, FP Markets, which began operations in 2005, maintains a solid reputation with a Trust Score of 89, placing it in the trusted category. It holds two Tier-1 licenses and one Tier-2 license, highlighting its commitment to regulatory compliance. Though it is not publicly traded nor a bank, FP Markets remains an appealing choice for customers looking for a trustworthy broker with significant 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 |
When it comes to commissions and fees, FP Markets generally undercuts Charles Schwab for forex. FP Markets earns 5 out of 5 stars and ranks #11 of 63 for Commissions and Fees, while Charles Schwab earns 4 out of 5 stars and ranks #23 of 63. Both support forex, but their cost structures differ: Schwab is spread-only with no forex commission, whereas FP Markets offers low spreads with a small commission on its ECN account.
Charles Schwab has no minimum deposit for its primary accounts. Forex access runs through thinkorswim via the Schwab One account, with all trades settled in U.S. dollars. The smallest trade size is 10,000 units (about $500 minimum margin at 20:1 leverage). Schwab Global opens access to 12 international markets in local currencies, but currency conversion fees apply (about 0.2%–1%, depending on balance). Schwab doesn’t charge forex commissions; costs come from the spread, which averaged 1.35 pips on EUR/USD in October 2024. Overnight financing details are easy to see in the platform’s calculator.
FP Markets delivers its sharpest pricing on the Raw ECN account across MetaTrader and cTrader: average spreads near 0.1 pips on EUR/USD with a $6 round‑turn commission per standard lot (about 0.8 pips all‑in). Its Standard account is spread‑only and higher cost (about 1.1 pips on EUR/USD). Share CFD traders can use the Iress suite with DMA pricing, but account tiers and potential platform/data fees make that setup best for active, higher‑balance traders. For most forex traders focused on pure trading costs, FP Markets comes out cheaper than Schwab.
| 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 89 |
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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 | 89 | |
| 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 | 89 | |
| 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 | 89 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FP Markets Review |
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