Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FXPrimus, 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, is a well-known name in the financial industry and stands out for its strong regulatory credentials. As a publicly traded company and a registered bank, Charles Schwab boasts a perfect Trust Score of 99 according to ForexBrokers.com. The firm holds five Tier-1 licenses, which marks it as a highly trusted broker, offering its clients a high level of security and confidence in their financial activities.
In contrast, FXPrimus, founded in 2009, operates without the backing of a stock exchange listing or banking status. With a ForexBrokers.com Trust Score of 71, FXPrimus is considered an average risk broker. The company holds just one Tier-1 license, highlighting a lower regulatory standing compared to Charles Schwab. Clients of FXPrimus should weigh these factors when deciding on their preferred online brokerage service.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When diving into the world of online trading, comparing brokers like Charles Schwab and FXPrimus based on their commissions and fees reveals some notable differences. Charles Schwab stands out with no minimum deposit requirement for its primary brokerage accounts, making access to forex trading more attainable. Schwab offers 18 different account types, focusing primarily on Schwab One and Schwab Global for forex and international trading. With these accounts, all forex trades are settled in U.S. dollars, and a minimum trade size of 10,000 units is required. Schwab does not charge commissions for forex trading; costs are primarily tied to the bid/ask spread, with October 2024 spreads for EUR/USD averaging 1.35 pips. Schwab Global gives traders access to 12 international markets, but conversion fees up to 1% may apply.
FXPrimus, on the other hand, doesn't provide specific average spread data, making it slightly more challenging for potential clients to assess trading cost competitiveness. Nevertheless, FXPrimus ensures no commission fees, similar to Schwab, focusing instead on spreads for determining trading costs. This transparency allows traders to gauge potential expenses, even if exact averages are not disclosed upfront.
In terms of rankings, both brokers receive a 4-star rating for commissions and fees. However, Charles Schwab takes a higher spot at #24 out of 63 brokers as ranked by ForexBrokers.com, compared to FXPrimus, which is ranked #42. This distinction highlights Schwab's broader appeal and more favorable position in the industry, particularly for those interested in comprehensive financial services and a variety of account options.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Charles Schwab to FXPrimus, the breadth of investment options stands out significantly. Charles Schwab offers an extensive selection of tradeable symbols, with 40,000 available, while FXPrimus provides just 140. Forex traders will find more variety at Charles Schwab, which offers 73 forex pairs compared to the 42 available at FXPrimus. Additionally, Charles Schwab allows clients to trade exchange-traded securities on both U.S. and international exchanges, a feature not available with FXPrimus. Both platforms support forex trading as CFDs or spot contracts, and offer cryptocurrency derivatives, but neither allows the purchase of actual cryptocurrency.
While FXPrimus offers copy trading, which Charles Schwab does not, the latter is well-regarded for its comprehensive investment range, earning 5 stars and ranking 5th out of 63 on ForexBrokers.com. FXPrimus, on the other hand, received a 3.5-star rating and is ranked 59th for its range of investments. If you're looking for a wide array of investment opportunities beyond forex, Charles Schwab clearly has the upper hand, facilitating trading in both domestic and international markets, which can give investors more options for diversifying their portfolios.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 140 |
| Forex Pairs (Total) | 73 | 42 |
| 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.
When comparing the trading platforms and tools of Charles Schwab and FXPrimus, each brings distinct features to the table that cater to different types of traders. Both brokers offer simulated trading with free virtual demo accounts, enabling users to practice and refine their trading strategies. They each boast proprietary platforms and provide users with Windows-based desktop and web-based trading platforms, catering to those who prefer trading from different devices. However, FXPrimus differentiates itself by supporting popular platforms like MetaTrader 4 and MetaTrader 5 while also offering copy trading. Unfortunately, neither broker supports third-party platforms like DupliTrade or ZuluTrade.
For traders who rely heavily on charting and customization, Charles Schwab offers an impressive 24 drawing tools and an overwhelming 580 columns for watch lists, compared to FXPrimus's 15 drawing tools and 7 columns. Both allow users to trade directly from stock charts, providing added convenience. In terms of overall rating and industry ranking, Charles Schwab takes the lead with a perfect 5-star rating and a rank of 5th among 63 brokers, whereas FXPrimus holds a solid 4-star rating and is ranked 49th. Clearly, Charles Schwab's platform may appeal to advanced traders seeking extensive customization, while FXPrimus may be ideal for those looking to take advantage of copy trading and the familiar MetaTrader platforms.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Charles Schwab and FXPrimus offer solid platforms for iPhone and Android users, allowing access to market alerts, trendline drawing, and multiple time frame viewing. However, Charles Schwab stands out with its ability to sync watchlist symbols between the app and online accounts, a feature FXPrimus lacks. This synchronization allows investors to seamlessly manage their investments across devices, making it particularly appealing for active traders who require up-to-the-minute information and fluid account management.
In terms of charting tools, Charles Schwab offers a comprehensive selection with 374 technical studies, significantly outpacing FXPrimus, which offers 30. Both apps support auto-saving of chart drawings, but Schwab's broader range provides more options for technical analysis enthusiasts. The user experience reflects these differences, with Charles Schwab securing a 5-star rating and a rank of #6 out of 63 brokers for its mobile app, while FXPrimus earns 4 stars and a rank of #48. For traders who value advanced charting capabilities and seamless integration with online accounts, Charles Schwab’s mobile app presents a more appealing choice.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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 comparing the market research offerings of Charles Schwab and FXPrimus, both brokers provide daily market commentary, helping traders stay informed about financial market movements. However, Charles Schwab distinctly stands out by offering forex news sourced from top-tier names like Bloomberg, Reuters, and Dow Jones, while FXPrimus lacks this feature. Both brokers do not provide specialized tools such as those from Autochartist or Trading Central, nor do they offer sentiment-based trading tools or market research from TipRanks and Acuity Trading. Despite these similarities, Charles Schwab's provision of an economic calendar aids in tracking global news events, a feature FXPrimus also offers.
According to ratings and rankings by ForexBrokers.com, Charles Schwab outperforms FXPrimus in research by scoring an impressive 5 out of 5 stars and securing the 4th position out of 63 brokers. In contrast, FXPrimus earns a rating of 3 stars and ranks at 58th place. This highlights Charles Schwab's stronger reputation and greater appeal for traders seeking comprehensive market insights from a well-regarded broker.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When you're looking to start your journey in forex or CFD trading, accessing quality educational resources can make a big difference. Both Charles Schwab and FXPrimus offer a variety of resources tailored for beginners. Charles Schwab stands out by providing a wide array of educational materials, including at least 10 focused educational pieces such as articles, videos, and archived webinars on forex or CFDs. FXPrimus matches Schwab's commitment by offering a similar number of educational resources. Both platforms also host regular educational webinars each month and maintain a searchable archive of past sessions, giving you the chance to learn at your own pace.
In terms of video content specifically for beginners, Charles Schwab excels with more than 10 beginner-focused trading videos, while FXPrimus falls short in this area. Schwab also offers advanced videos for seasoned traders and an extensive investor dictionary with over 50 investing terms, further enhancing its educational offerings. These comprehensive resources contribute to Charles Schwab's 5-star education rating and rank it as the 6th best among 63 brokers for education according to ForexBrokers.com. FXPrimus, with lesser offerings like the absence of an investor dictionary and fewer videos, earns a 3-star rating and a ranking of 51st in the same category. For beginners eager to learn, Charles Schwab provides a more extensive and diverse educational experience.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 FXPrimus. Charles Schwab finished with an overall rank of #6, while FXPrimus finished with an overall rank of #53.
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
|
FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Charles Schwab and FXPrimus provide opportunities to invest in cryptocurrency derivatives, but neither broker allows the purchase of actual (delivered) cryptocurrency.
While both Charles Schwab and FXPrimus facilitate bank wire transfers for depositing and withdrawing funds, Charles Schwab supports ACH and SEPA transfers unlike FXPrimus, which instead offers more variety with Skrill and credit card options such as Visa and Mastercard, though neither broker accommodates PayPal 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 | FXPrimus | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | FXPrimus | |
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| Regulation | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1971 | 2009 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | FXPrimus | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 140 | |
| Forex Pairs (Total) | 73 | 42 | |
| 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 | FXPrimus | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | 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 | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| 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 | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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