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Charles Schwab vs FXOpen 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Charles Schwab vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Charles Schwab
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5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 40000
FXOpen
3.5/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 76
  • Tradeable Symbols (Total): 87

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.

Regulation

When comparing Charles Schwab and FXOpen, potential investors will find that Charles Schwab, established in 1971, stands as a major player in the financial industry with a remarkable trust score of 99 according to ForexBrokers.com. As a publicly traded company and a bank, Charles Schwab holds five Tier-1 regulatory licenses, the highest level of trust. This elevates Schwab’s standing as a leading and reliable choice for online brokering, assuring users of its stability and adherence to stringent regulatory standards.

FXOpen, formed in 2003, offers a different profile. While not a bank nor publicly traded, FXOpen holds two Tier-1 licenses and has a trust score of 76, signifying average risk. These qualities highlight a moderate level of trust compared to certain industry leaders. FXOpen might appeal to users seeking specific trading experiences, though those prioritizing regulatory backing may lean towards more established entities like Charles Schwab.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Year Founded info 1971 2003
Publicly Traded (Listed) info Yes No
Bank info Yes No
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0

Fees

Charles Schwab charges no commission for forex trades on thinkorswim; you pay the bid/ask spread. Its average EUR/USD spread in October 2024 was 1.35 pips, which sits on the higher side of the industry. All trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that implies about $500 in margin. If you use a Schwab Global account to trade in local currencies, currency conversion fees apply (about 0.2% to 1%, based on balance). Schwab also displays overnight financing (carry) charges in-platform so you can estimate holding costs. Commissions and fees rating: 4 out of 5 stars. Category ranking: #26 of 63.

FXOpen’s average spread data was not available for this review, which makes a direct, like-for-like cost comparison harder. Commissions and fees rating: 4 out of 5 stars. Category ranking: #45 of 63.

Bottom line on costs: Schwab’s spread-only pricing with a published EUR/USD average (1.35 pips) offers clear expectations, while FXOpen’s lack of average spread data here limits transparency. Both earn 4-star scores, but Schwab places higher in the Commissions and Fees rankings (#26 vs. #45). If you plan to trade foreign markets in local currencies at Schwab, remember to factor in conversion fees of roughly 0.2% to 1%.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Minimum Deposit info $0 $100
Average spread (EUR/USD) - Standard account info 1.32 info N/A info
All-in Cost EUR/USD - Active info 1.32 info N/A info
Non-wire bank transfer info Yes No
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

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Range of investments

When it comes to range of investments, Charles Schwab offers far more choice than FXOpen. Schwab lists about 40,000 tradeable symbols and supports U.S. and international exchange-traded securities (so you can buy shares like Apple on NASDAQ or Vodafone in London), along with forex. FXOpen focuses on CFDs and forex with 87 tradeable symbols, and it does not provide access to exchange-traded stocks. For currency traders, Schwab offers 73 forex pairs versus 25 at FXOpen, and both support forex trading (CFD or spot).

Both brokers offer cryptocurrency CFDs, but neither lets you buy actual coins. FXOpen includes copy trading, while Charles Schwab does not. Reflecting this breadth, ForexBrokers.com rates Charles Schwab 5 out of 5 stars for Range of Investments (ranked 5th of 63) and FXOpen 3 out of 5 stars (ranked 63rd of 63).

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 87
Forex Pairs (Total) info 73 25
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Comparing trading platforms and tools, both Charles Schwab and FXOpen provide free paper (demo) trading and offer web-based and Windows desktop platforms with the ability to place orders directly from a chart. Schwab delivers a proprietary, in-house platform, while FXOpen relies on third-party options. If MetaTrader matters, FXOpen includes MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus copy trading; Schwab does not offer MetaTrader or copy trading.

According to ForexBrokers.com’s ratings for Trading Platforms and Tools, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers, while FXOpen receives 4 stars and ranks #54. In short, choose Schwab if you prefer an in-house platform with paper trading, browser and desktop access, and chart-based order entry; pick FXOpen if you prioritize MT4/MT5 and copy trading along with a free demo, web trading, and a Windows download.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 374 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Both Charles Schwab and FXOpen offer iPhone and Android trading apps with price alerts, plus the ability to draw trendlines on charts. Where they differ is depth and convenience: Schwab’s app syncs watchlists with your online account, while FXOpen’s does not. For charting, Schwab packs in 374 technical studies compared with FXOpen’s 30, and Schwab auto-saves chart drawings; FXOpen does not.

Independent ratings reflect these gaps. Charles Schwab’s mobile trading app earns 5 stars and ranks #6 out of 63 brokers at ForexBrokers.com, while FXOpen scores 4 stars and ranks #55. If you want extensive charting and seamless watchlist syncing, Schwab stands out; if you just need alerts and basic charting on both iOS and Android, FXOpen covers the essentials.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes No

Dive deeper: Best Forex Trading Apps.

Market research

When it comes to market research, Charles Schwab and FXOpen both provide daily market commentary, forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, and an economic calendar that tracks upcoming events. Neither broker includes Autochartist or Trading Central tools, and neither offers a sentiment tool that shows long vs. short positioning. Schwab does not provide TipRanks or Acuity Trading tools; FXOpen’s access to TipRanks or Acuity Trading isn’t specified.

For research quality, Schwab holds an edge: it’s rated 5 stars and ranks 5th out of 63 brokers by ForexBrokers.com. FXOpen is rated 3 stars and ranks 64th. If you want higher-rated market research alongside daily commentary and premium news, Schwab is the better choice; if you just need the basics, FXOpen can cover them.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info No No
Client sentiment data info No No
TipRanks info No
Acuity Trading info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners who want clear, guided learning, Charles Schwab is the stronger pick. It runs client education webinars at least once a month and offers 10+ beginner videos along with 10+ advanced videos, helping new traders move from basics to more complex topics. Schwab’s education earns 5 out of 5 stars and ranks #6 out of 63 brokers at ForexBrokers.com, a sign of consistent quality for anyone starting out in trading, including those curious about forex and CFDs.

FXOpen’s education is leaner by comparison. It does not host monthly educational webinars and doesn’t offer at least 10 beginner or 10 advanced videos, which can leave newcomers looking for more structure. FXOpen’s education is rated 3 out of 5 stars and ranks #59 out of 63. If learning is a priority—especially for first-time traders—Charles Schwab is likely to deliver a more complete experience than FXOpen.

Feature Charles Schwab logoCharles Schwab
FXOpen logoFXOpen
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than FXOpen. Charles Schwab finished with an overall rank of #6, while FXOpen finished with an overall rank of #54.

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 logoCharles Schwab
FXOpen logoFXOpen
Overall Rating info 5/5 Stars 3.5/5 Stars
Trust Score info 99 76
Range of Investments 5/5 Stars 3/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Research 5/5 Stars 3/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with Charles Schwab or FXOpen?

In the Charles Schwab vs FXOpen comparison for cryptocurrency trading, neither online broker offers the ability to buy actual delivered cryptocurrencies, but both provide access to cryptocurrency CFDs.

What funding options does each broker offer?

Charles Schwab supports ACH/SEPA transfers and bank wires but not PayPal or Skrill, while FXOpen does not support ACH/SEPA and provides no listed details for PayPal, Skrill, Visa/Mastercard, or bank wires; Visa/Mastercard availability for Charles Schwab is also not specified.

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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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Overall Rating Charles Schwab FXOpen
Overall Rating info 5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 3/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3/5 Stars
Education 4.5/5 Stars 3/5 Stars
Trust Score info 99 76
Winner check_circle
Review Charles Schwab Review
Broker Screenshots Charles Schwab FXOpen
Broker Gallery (click to expand) info
Schwab thinkorswim mobile forex charting. Schwab thinkorswim desktop forex trading. Schwab research weekly market analysis YouTube video detail. Schwab education courses technical analysis.
Regulation Charles Schwab FXOpen
Trust Score info 99 76
Year Founded info 1971 2003
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info No Yes info
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Charles Schwab FXOpen
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No
Regulated in one or more EU or EEA countries (MiFID). info No Yes info
Tier-2 Licenses (Trusted) Charles Schwab FXOpen
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No
South Africa (FSCA Authorised) info No
UAE (DFSA, FSRA, or SCA Authorised) info No
India (SEBI Authorised) info No
Jordan (JSC Authorised) info
Investments Charles Schwab FXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 87
Forex Pairs (Total) info 73 25
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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).
Cost Charles Schwab FXOpen
Average spread (EUR/USD) - Standard account info 1.32 info N/A info
All-in Cost EUR/USD - Active info 1.32 info N/A info
Inactivity Fee info No Yes
Order execution: Agency info Yes Yes
Order execution: Market Maker info No Yes
Funding Charles Schwab FXOpen
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info Yes No
Trading Platforms Charles Schwab FXOpen
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
Trading Tools Charles Schwab FXOpen
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 374 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Charles Schwab FXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes No
Mobile Research - Economic Calendar info Yes Yes
Research Charles Schwab FXOpen
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info No No
TipRanks info No
Client sentiment data info No No
Economic Calendar info Yes Yes
Education Charles Schwab FXOpen
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs Charles Schwab FXOpen
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Charles Schwab Review
Overall Charles Schwab FXOpen
Overall Rating info 5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 3/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3/5 Stars
Education 4.5/5 Stars 3/5 Stars
Trust Score info 99 76
Winner check_circle
Review Charles Schwab Review
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