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 |
Comparing commissions and fees, FP Markets comes out cheaper for active forex traders, while Charles Schwab is a solid low-friction choice for U.S.-dollar-based trading. FP Markets is rated 5 stars and ranked #6 out of 63 brokers for Commissions and Fees (Best in Class 2024). Charles Schwab is rated 4 stars and ranked #26 out of 63.
Charles Schwab charges no commission for forex; your cost is the spread. The average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side. There’s no minimum deposit for its main accounts, and forex is available via thinkorswim through a Schwab One account. Trades settle in U.S. dollars and the smallest trade size is 10,000 units (about $500 margin at 20:1). If you want to trade in a foreign currency directly, you’ll need to call Schwab, or consider a Schwab Global account, which supports 12 international markets in local currencies with currency conversion fees ranging from 0.2% to 1% depending on your balance.
FP Markets offers very tight pricing on its commission-based Raw ECN accounts on MetaTrader and cTrader. As of October 2023, Raw ECN spreads averaged 0.1 pips on EUR/USD, about 0.8 pips all-in after a $6 per round-turn commission per standard lot. The Standard (spread-only) account averaged 1.1 pips. For share CFDs, the Iress suite provides DMA pricing, but the ViewPoint tiers have higher minimums and potential platform/data fees unless you qualify for Premier or generate at least AUD 150 in monthly commissions; the lower-cost Iress Investor plan waives monthly fees but limits streaming data and charting.
| Feature |
Charles Schwab
|
FP Markets
|
|---|---|---|
| Minimum Deposit | $0 | $100 AUD |
| Average spread (EUR/USD) - Standard account | 1.32 | 1.2 |
| All-in Cost EUR/USD - Active | 1.32 | 0.7 |
| 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.
Charles Schwab and FP Markets both let you trade forex as CFDs or spot, and each offers crypto CFDs (neither allows buying actual crypto). Schwab stands out for sheer variety: about 40,000 tradable symbols and 73 forex pairs, plus the ability to buy real exchange-traded shares on both U.S. and international exchanges (think Apple in the U.S. or Vodafone in London). FP Markets lists around 10,000 symbols with 71 forex pairs and focuses on CFD trading; it doesn’t offer real stock purchases on U.S. or international exchanges, but it does support copy trading, which Schwab does not.
For range of investments, ForexBrokers.com rates Charles Schwab at 5 stars and ranks it #5 out of 63 brokers, while FP Markets earns 4.5 stars and ranks #19. In simple terms: choose Schwab if you want a very wide selection that includes actual shares across multiple markets; pick FP Markets if you primarily trade CFDs and value built-in copy trading.
| 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.
Charles Schwab and FP Markets both check key boxes for trading platforms and tools: each offers free paper trading (demo accounts), a proprietary platform built in-house, a Windows desktop download, a web-based platform, and the ability to trade directly from charts. The big differences are extras: FP Markets supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not. Indicator counts and watchlist column details were not specified for either broker.
On quality, ForexBrokers.com rates Charles Schwab 5/5 stars (ranked #5 out of 63) for Trading Platforms and Tools, versus FP Markets at 4/5 stars (ranked #23 out of 63). Choose Schwab if top-tier ratings and an integrated, proprietary experience matter most; pick FP Markets if you want copy trading and access to MT4 and MT5.
| 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, and both support price alerts so you can stay on top of market moves. A key difference is watchlist syncing: Schwab syncs watchlists between the app and your online account, while FP Markets does not. For charting, Schwab packs in 374 technical studies, whereas FP Markets uses the default MetaTrader library, which will feel familiar to MT4/MT5 users.
Each app lets you draw trendlines on charts and will auto-save your drawings. In independent testing by ForexBrokers.com, Schwab’s mobile trading app earned 5 stars and ranked #6 out of 63 brokers, while FP Markets earned 4 stars and ranked #18. If you want deep charting tools and seamless watchlist syncing, Schwab is the stronger pick. If you prefer trading in the MetaTrader environment and need the essentials with alerts, FP Markets is a solid choice.
| 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.
Comparing Charles Schwab vs FP Markets for market research: both deliver daily market commentary, top-tier forex news (from sources like Bloomberg, Reuters, or Dow Jones), and an economic calendar. Neither broker offers research from TipRanks or tools from Acuity Trading.
FP Markets stands out for extra third-party tools, including Autochartist, Trading Central, and a sentiment tool showing long/short positioning. Charles Schwab does not include those specific add-ons, yet it earns a higher independent score for research: 5 stars and #5 out of 63 brokers at ForexBrokers.com, compared with FP Markets at 4 stars and #25. Choose FP Markets if you want those additional tools, or Charles Schwab if you prioritize a higher overall research rating.
| 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.
For beginners comparing trading education, Charles Schwab edges out FP Markets. Both brokers host ongoing client webinars (at least monthly) and each offers at least 10 video lessons designed for beginners, plus 10 or more videos for advanced topics as you progress. However, Charles Schwab earns 5 stars for Education and ranks #6 out of 63 brokers at ForexBrokers.com, while FP Markets holds 4 stars and ranks #23. If you want a clear path from basics to more advanced ideas, Schwab’s program is rated higher overall; FP Markets still provides solid coverage for getting started.
If you’re focused on forex and CFD education in particular, this summary doesn’t confirm whether either broker publishes 10 or more pieces dedicated to those subjects. Both do run regular webinars and maintain sizable libraries of beginner and advanced videos that can help you learn the essentials of trading. For most beginners, Schwab’s higher star rating and ranking suggest a more polished learning experience, while FP Markets remains a worthwhile option if you value frequent webinars and accessible 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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|---|---|---|
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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 (SFC 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 | 1.32 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.7 | |
| 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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