Charles Schwab vs FxPro 2024

Charles Schwab is publicly-traded, does operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Schwab is authorised by the following Tier-1 regulators: Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

FxPro is not publicly traded and does not operate a bank. FxPro is authorised by two Tier-1 regulator (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and four Tier-4 regulators (High Risk). FxPro is authorised by the following Tier-1 regulators: Financial Conduct Authority (FCA) and regulated in the European Union via the MiFID passporting system.

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.

FxPro competes among the top MetaTrader brokers, featuring multiple account options and various execution methods. It provides its own proprietary FxPro Edge app – though it isn’t yet available for mobile – alongside access to the BnkPro app (which isn’t yet available in all regions).

To open a trading account with Charles Schwab, you'll need to make an initial minimum deposit of $0.

FxPro requires a minimum deposit of $100 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Charles Schwab offers Bank Wire (Deposit/Withdraw) for banking, whereas FxPro provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Charles Schwab offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Charles Schwab holds 5 global Tier-1 licenses, while FxPro holds 2. FxPro holds 1 global Tier-2 licenses, while Charles Schwab holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Charles Schwab (99) earned a higher Trust Score than FxPro (90).

To compare the trading platforms of both Charles Schwab and FxPro, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab to provide better mobile trading apps.

Here’s what trading platforms are available at Charles Schwab:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at FxPro:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - Yes
• DupliTrade - No
• MT4 - Yes
• MT5 - Yes
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FxPro offers MetaTrader 4 (MT4), while Charles Schwab does not. Forex traders also appreciate the ability to engage in social copy trading. While FxPro offers copy trading, Charles Schwab does not.

Charles Schwab provides traders 73 currency pairs (e.g., EUR/USD) compared to FxPro's 70 available pairs. If you are interested in trading a full range of securities, Charles Schwab offers traders access to 40000 tradeable symbols, while FxPro offers access to 2249 tradeable symbols; so Charles Schwab offers 37751 more tradeable symbols than FxPro.

We found in our testing that Charles Schwab offers a more diverse selection of investment options than FxPro, allowing you to trade Forex Trading (Spot or CFDs), Int'l Stock Trading (Non CFD) and Cryptocurrency (Derivative). Neither have Cryptocurrency (Physical).