Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FxPro, 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 as a highly trusted online broker with a stellar Trust Score of 99 according to ForexBrokers.com. This places it in the top tier of reliability, making it an excellent choice for investors who prioritize security. Schwab is not only a publicly traded entity but also operates as a bank, further enhancing its credibility. The broker holds five Tier-1 licenses, which are regarded as highly trusted, although it does not hold any Tier-2 licenses. These features collectively underscore Schwab’s solid foundation and track record in the financial sector.
Founded in 2006, FxPro provides a trusted online trading experience with a noteworthy Trust Score of 93. Although not publicly traded, FxPro also functions as a bank, offering a stable environment for financial transactions. The broker is recognized for its regulatory compliance, holding two Tier-1 licenses and one Tier-2 license, which speaks to its commitment to maintaining trust in the industry. While FxPro may not have the same volume of high-level licensing as Schwab, it remains a strong contender, especially for those seeking a well-rounded, reliable trading platform.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Year Founded | 1971 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | Yes |
| 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, Charles Schwab stands out by not requiring a minimum deposit for its primary brokerage accounts, like Schwab One and Schwab Global. This makes it accessible for new investors interested in forex trading. Currency trades are settled in U.S. dollars, with a minimum trade size of 10,000 units, meaning at least $500 in margin is needed due to a 20:1 leverage. Schwab doesn’t charge commissions for forex trades; instead, its trading costs are composed of the bid/ask spread, averaging 1.35 pips on the EUR/USD pair. Additionally, overnight carry charges can be calculated within the thinkorswim platform. Schwab scores 4 out of 5 stars for commissions and fees and is ranked #23 out of 62 brokers by ForexBrokers.com.
FxPro offers an alternative with its commission-based pricing model, particularly competitive on its cTrader platform. Here, the effective spread on the EUR/USD can be approximately 1.27 pips, combining the average spread of 0.37 pips with a 0.9 pip commission-equivalent. Traders on FxPro’s MT4 and MT5 platforms can select between variable or fixed spreads, though no fixed pricing is available on MT5. Floating spreads on these platforms feature EUR/USD spreads of 1.58 pips for market execution accounts and 1.71 for instant execution. They also have an Active Trader program under its Elite account, providing discounts of up to 30%. FxPro matches Schwab with a 4-star rating for commissions and fees but is ranked slightly lower at #32 among 62 brokers on ForexBrokers.com.
In conclusion, Charles Schwab and FxPro each offer unique advantages: Schwab with no minimum deposit requirement and low commission trading via spread costs, and FxPro with competitive spreads on cTrader and a discount program for frequent traders. While both have a 4-star rating for commissions and fees, Schwab leads in overall ranking according to ForexBrokers.com.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.51 |
| All-in Cost EUR/USD - Active | 1.35 | 1.27 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 and FxPro for their investment options, Charles Schwab clearly offers a wider range of tradable symbols with a count of 40,000 compared to FxPro’s 2,249. Both platforms support forex trading as a CFD or spot contract and provide a large selection of forex pairs, with Charles Schwab offering 73 pairs and FxPro closely following with 70. For those interested in stock trading, Charles Schwab provides the advantage of offering exchange-traded securities on U.S. exchanges, allowing clients to directly buy shares such as Apple. In contrast, FxPro lacks this offering but compensates by allowing the purchase of foreign stocks, similar to Charles Schwab, providing opportunities like buying Vodafone shares on the London Stock Exchange.
In terms of additional trading features, FxPro provides the benefit of copy trading, a feature absent from Charles Schwab. However, neither broker offers the ability to buy actual cryptocurrencies, though both allow trading in cryptocurrency derivatives. Overall, Charles Schwab tends to excel in providing a broader range of investment opportunities, achieving a top-tier rating of 5 stars and ranking 5th among 62 brokers by ForexBrokers.com. FxPro earns a commendable 4 stars, securing the 28th rank in the same category, making both brokers strong contenders, albeit with distinct areas of focus and available investment products.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2249 |
| Forex Pairs (Total) | 73 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 it comes to trading platforms and tools, both Charles Schwab and FxPro cater to traders seeking advanced features and capabilities. Charles Schwab offers a proprietary platform that is available for both Windows-based desktop download and web-based browsing, providing users with a seamless trading experience. FxPro matches these offerings, also providing its proprietary platform for desktop and web use. Both brokers offer simulated trading through free virtual demo accounts, making it easier for beginners to practice and seasoned traders to refine their strategies. Schwab stands out with an impressive 580 fields for watch lists, compared to FxPro's 6, allowing traders more fields to customize their data monitoring experience.
For traders interested in popular platforms like MetaTrader, FxPro has the upper hand, supporting both MT4 and MT5, while Charles Schwab does not. FxPro also offers copy trading functionality, adding a community-driven dimension to trading that Schwab lacks. When it comes to charting tools, both brokers allow direct trading from stock charts, but FxPro offers a slight edge with one more drawing tool than Charles Schwab. Charles Schwab is rated five stars for its trading platforms and tools, ranking highly at #5 out of 62 brokers, whereas FxPro carries a solid four-star rating and ranks at #18. These rankings reflect Schwab's extensive toolset and robust customization options, while FxPro completes the core experience by supporting more third-party platforms.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| 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 | 53 |
| Charting - Drawing Tools (Total) | 24 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and FxPro offer versatile mobile trading apps compatible with iPhones and Android devices, ensuring easy accessibility for users. Each app supports the delivery of stock or forex price alerts and allows the syncing of watchlists with the user's online account, enabling seamless modifications from either location. Users can also draw trendlines on charts and view multiple time frames like daily or weekly data, with the assurance that any drawings will be automatically saved for future reference. Additionally, both apps provide the option to create watchlists featuring real-time quotes, catering to the dynamic needs of traders on the go.
When it comes to charting, Charles Schwab offers a more extensive range of technical studies, boasting 374 options compared to FxPro's 65, allowing traders to engage in more detailed market analysis. While both apps are highly rated, Charles Schwab holds a slight edge with a 5-star rating in mobile trading apps, as opposed to FxPro's 4.5-star rating. Reflecting this acclaim, Charles Schwab is ranked 6th out of 62 brokers for mobile trading apps by ForexBrokers.com, while FxPro is ranked at 15th position. These distinctions highlight Charles Schwab's slight advantage in terms of both functionality and overall user satisfaction in the mobile trading space.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 65 |
| 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.
Both Charles Schwab and FxPro provide valuable market research tools for their users, including daily market commentary and forex news from sources such as Bloomberg and Reuters. While both brokers offer economic calendars to keep you updated on global news events, they diverge when it comes to analytical tools. FxPro stands out by offering Trading Central tools and sentiment-based trading options, which show the ratio of long or short positions across currency pairs. Charles Schwab, on the other hand, does not currently offer these features.
Despite FxPro's broader range of tools, Charles Schwab holds an advantage in overall research quality, earning a top-tier rating of 5 stars compared to FxPro's 4 stars according to ForexBrokers.com. This higher rating contributes to Charles Schwab's impressive ranking of 4th out of 62 brokers in the research category, whereas FxPro is ranked 27th. Therefore, for traders who prioritize well-rounded research capabilities, Charles Schwab may present a more appealing option.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for beginners between Charles Schwab and FxPro, both brokers provide a solid foundation for newcomers to forex and CFDs trading. Both platforms present at least 10 educational pieces in various formats, such as articles, videos, and archived webinars, aimed at forex and CFDs. However, Charles Schwab goes a step further by offering monthly live webinars and an extensive archive of recorded sessions. This includes more than 10 educational videos specifically designed for beginners that cater to those new to trading, alongside advanced videos for seasoned traders. FxPro matches Schwab in delivering beginner videos but lacks advanced content aimed at experienced traders. Additionally, Schwab's investor dictionary is a helpful tool with over 50 investing terms, which FxPro also provides.
In terms of ratings and rankings, Charles Schwab stands out with a top-tier education rating of five stars and is ranked sixth in the Education category among 62 brokers on ForexBrokers.com. In contrast, FxPro, rated four stars for education, holds the 17th position in the same category. These distinctions underscore Charles Schwab's commitment to offering comprehensive educational resources for traders at all skill levels, making it a highly recommended choice for those looking to deepen their trading knowledge. While FxPro offers valuable educational material, especially for beginners, it does not match Charles Schwab's breadth of advanced resources and regular interactive learning opportunities.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Charles Schwab is better than FxPro. Charles Schwab finished with an overall rank of #6, while FxPro finished with an overall rank of #21.
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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FxPro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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Both Charles Schwab and FxPro do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
While both Charles Schwab and FxPro allow the use of ACH or SEPA transfers and bank wires for depositing or withdrawing funds, FxPro offers additional flexibility by accepting PayPal, Skrill, and Visa or Mastercard, which Charles Schwab does not provide.
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 | FxPro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
| Broker Screenshots | Charles Schwab | FxPro | |
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| Regulation | Charles Schwab | FxPro | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1971 | 2006 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | Yes | |
| 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 | FxPro | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | FxPro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 2249 | |
| Forex Pairs (Total) | 73 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | FxPro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.51 | |
| All-in Cost EUR/USD - Active | 1.35 | 1.27 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FxPro | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 53 | |
| Charting - Drawing Tools (Total) | 24 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | 65 | |
| 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 | FxPro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FxPro | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | FxPro Review |
| Overall | Charles Schwab | FxPro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
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