Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FXGT.com, 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 as a beacon of trust and stability in the financial sector. As a publicly traded company and a bank, it holds five Tier-1 licenses, indicating a high level of reliability. This extensive regulatory framework and its listing on the stock exchange contribute to its perfect Trust Score of 99 out of 99 from ForexBrokers.com, categorizing it as highly trusted.
In contrast, FXGT.com, which entered the market in 2019, operates without the backing of a publicly traded status or banking facilities. Holding just one Tier-1 license and an additional Tier-2 license, the firm earns a Trust Score of 69 out of 99, placing it in the high-risk category according to the ForexBrokers.com rating system. While it offers unique opportunities for traders, potential users may want to consider these factors when weighing their options.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Year Founded | 1971 | 2019 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Charles Schwab and FXGT.com take different approaches to commissions and fees for forex trading. Schwab charges no commission on forex; your costs come from the spread. Its average EUR/USD spread in October 2024 was 1.35 pips, which is on the higher side versus the industry. Schwab earns 4/5 stars and ranks #26 out of 63 brokers for Commissions and Fees at ForexBrokers.com, while FXGT.com earns 3.5/5 stars and ranks #57 out of 63. Average spread data for FXGT.com is not available, making direct cost comparisons harder.
At Schwab, there’s no minimum deposit for its main brokerage accounts. Forex trading is available through the Schwab One account using thinkorswim, with all trades settled in U.S. dollars. The smallest trade size is 10,000 units; at 20:1 leverage, that implies about $500 in required margin. If you want to place orders directly in foreign currencies from a Schwab One account, you must call by phone. The Schwab Global account lets you trade in 12 international markets in local currencies, with currency conversion fees ranging from 0.2% to 1% depending on your account balance. Overnight carry charges are displayed in thinkorswim via a built-in calculator.
Because FXGT.com does not publish average spread data, its all-in trading costs are less transparent than Schwab’s published EUR/USD spread figure. If pricing clarity and published benchmarks matter to you, Schwab’s disclosed no-commission, spread-only model and readily available overnight financing info may be helpful reference points; for FXGT.com, you’ll need to check current live pricing on its platform to gauge spreads and overall costs.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.32 | N/A |
| All-in Cost EUR/USD - Active | 1.32 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab vs FXGT.com: for range of investments, Schwab offers far more choice. Schwab lists about 40,000 tradeable symbols compared with 117 at FXGT.com, and 73 forex pairs versus 53 at FXGT.com. Both brokers offer forex trading via CFDs or spot. Schwab also lets you buy exchange-traded U.S. and international stocks directly (for example, Apple on NASDAQ or Vodafone in London), while FXGT.com does not offer direct share dealing.
FXGT.com supports copy trading, which Schwab does not. Neither broker offers actual, delivered cryptocurrency, but both provide crypto derivatives. Reflecting this breadth, ForexBrokers.com rates Schwab 5 stars for Range of Investments (ranked 5th of 63), while FXGT.com earns 3 stars (ranked 62nd of 63). If you want a very wide lineup and direct stock ownership across markets, Schwab stands out; if you prefer CFD/spot forex with copy trading and a smaller catalog, FXGT.com may suit your needs.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 117 |
| Forex Pairs (Total) | 73 | 53 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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 FXGT.com both offer free paper trading along with Windows desktop downloads and web-based platforms. Schwab provides a proprietary, in-house platform, while FXGT.com does not build its own and instead leans on third-party options. If copy trading is important, FXGT.com supports it and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5); Schwab does not support copy trading, MT4, or MT5.
For charting, both brokers let you place trades directly from the chart. Schwab lists 24 drawing tools versus 23 at FXGT.com, and its watch lists are far more detailed (580 fields) than FXGT.com’s (5 fields). According to ForexBrokers.com, Schwab earns 5 stars and ranks #5 out of 63 for Trading Platforms and Tools, while FXGT.com earns 4 stars and ranks #57. In short, pick Schwab for an in-house platform and expansive watch lists, or choose FXGT.com if you want MetaTrader and built-in copy trading.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 37 |
| Charting - Drawing Tools (Total) | 24 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and FXGT.com both check the key mobile trading app boxes: iPhone and Android support, price alerts, real-time quote watchlists, and watchlist syncing between the app and your online account. Each app lets you draw trendlines, switch among multiple time frames (like intraday, daily, and weekly), and automatically saves your chart drawings.
The big difference is charting depth. Charles Schwab offers 374 technical studies in its mobile app, while FXGT.com provides 30. For traders who lean on indicators, Schwab delivers far more choice. Reflecting that gap, Schwab’s mobile app earns 5 out of 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, whereas FXGT.com is rated 3.5 stars and ranks #59.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, Charles Schwab stands out. Schwab delivers daily market commentary and forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, making it easier to stay on top of key moves and headlines. Both brokers provide an economic calendar, and neither offers research tools from Autochartist or Trading Central.
FXGT.com sets itself apart with a sentiment tool that shows the ratio of long and short positions, while Schwab does not include this feature. In independent testing by ForexBrokers.com, Schwab earned 5 stars and ranked #5 out of 63 brokers for Research, compared with FXGT.com’s 3-star score and #57 ranking. If you want frequent commentary and trusted news coverage, Schwab is the stronger choice; if you prefer a quick read on market sentiment alongside an economic calendar, FXGT.com has that angle.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing online brokers for beginner education, Charles Schwab clearly outpaces FXGT.com. Schwab offers a full library of forex and CFDs education with well over 10 articles and videos, plus live client webinars at least once a month and a searchable archive of past sessions. It also provides 10+ beginner trading videos, 10+ advanced videos for when you’re ready to level up, and an investor dictionary covering 50+ terms. This depth and structure help new traders learn step by step. Result: Schwab earns 5 stars for Education and ranks #6 out of 63 brokers, according to ForexBrokers.com.
FXGT.com takes a simpler approach. It does not meet the 10-piece benchmark for forex or CFDs education, does not host monthly client webinars, and does not provide a searchable archive of past webinars. It also falls short of offering 10+ beginner or advanced trading videos. On the plus side, FXGT.com does include an investor dictionary with 50+ terms. Overall, it receives 3 stars for Education and ranks #61 out of 63. If you want structured lessons, regular live sessions, and easy-to-find replays, Charles Schwab is the stronger pick; if you only need a basic glossary, FXGT.com may suffice.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | 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 FXGT.com. Charles Schwab finished with an overall rank of #6, while FXGT.com finished with an overall rank of #59.
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
|
FXGT.com
|
|---|---|---|
| Overall Rating |
|
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| Trust Score | 99 | 69 |
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| Platforms & Tools |
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Both Charles Schwab and FXGT.com do not offer the ability to purchase actual delivered cryptocurrency, but they both facilitate trading in cryptocurrency derivatives.
Both Charles Schwab and FXGT.com provide ACH or SEPA transfers and bank wires as methods for depositing or withdrawing funds, while only FXGT.com accepts Visa or Mastercard, and neither broker supports PayPal or Skrill transactions.
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 | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | FXGT.com | |
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| Regulation | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Trust Score | 99 | 69 | |
| Year Founded | 1971 | 2019 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | Yes | ||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | Yes | ||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | |||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 117 | |
| Forex Pairs (Total) | 73 | 53 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | FXGT.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.32 | N/A | |
| All-in Cost EUR/USD - Active | 1.32 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 5 | |
| Charting - Indicators / Studies (Total) | 374 | 37 | |
| Charting - Drawing Tools (Total) | 24 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | FXGT.com | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review |
| Overall | Charles Schwab | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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