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 |
Comparing forex trading costs, Charles Schwab charges no commissions; your cost is the bid/ask spread. FxPro can be either spread-only (on MT4/MT5) or commission-plus-spread (on cTrader). On EUR/USD, Schwab averaged 1.35 pips in October 2024, while FxPro’s cTrader setup works out to about 1.27 pips effective (0.37-pip average spread plus a 0.9-pip commission-equivalent based on 2020 data). FxPro’s variable spreads on MetaTrader were higher at 1.58 pips on MT4 market execution (1.51 on MT5) and 1.71 pips with instant execution. For commissions and fees, both earn 4 out of 5 stars; Schwab ranks 25th of 63 brokers, and FxPro ranks 33rd of 63.
Schwab has no minimum deposit for its main accounts and doesn’t add a commission to forex trades. Forex access runs through a Schwab One account using thinkorswim, with all trades settling in U.S. dollars. The smallest allowed trade is 10,000 units, which would require about $500 in margin at 20:1 leverage. If you need to transact in local currencies for international securities, Schwab One requires a phone order, whereas the Schwab Global account lets you trade in 12 local markets; funding in a different currency triggers conversion fees that range from 0.2% to 1% depending on balance. Overnight financing (carry) costs are clearly shown in thinkorswim’s calculator.
FxPro’s pricing is generally higher than the industry average on MetaTrader, though its cTrader account narrows costs by using commission-based pricing. MT4/MT5 offer variable spreads, and MT4 also supports fixed spreads; MT5 does not. Note that MetaTrader accounts require at least a 1-pip distance for stop/limit orders (no such minimum on cTrader). Active traders can apply for Elite discounts of up to 30%, but even with those reductions, FxPro’s overall costs typically trail the sharpest-priced competitors.
| 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.
Comparing Charles Schwab vs FxPro on range of investments, Schwab takes the lead with a 5-star rating and a #5 rank out of 63 brokers from ForexBrokers.com, while FxPro earns 4 stars and ranks #29. Schwab lists about 40,000 tradeable symbols versus FxPro’s 2,249, and offers slightly more forex pairs (73 vs 70). Both brokers support forex trading as CFDs or spot contracts.
Asset access is a key separator. Schwab lets you buy exchange-traded securities on both U.S. and international exchanges, so you can trade shares like Apple or Vodafone directly. FxPro does not offer U.S.-listed shares but does provide access to some international exchange-traded shares. For social features, FxPro supports copy trading, whereas Schwab does not. Neither broker allows purchasing actual cryptocurrency, but both offer crypto derivatives for trading.
| 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.
Charles Schwab and FxPro each offer a suite of trading platforms and tools that cater to different kinds of traders. Both brokers provide simulated trading through free virtual demo accounts and the option for Windows-based desktop and web-based platforms. While Charles Schwab and FxPro have developed their own proprietary platforms, a significant contrast is that FxPro supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), popular choices for many forex traders, whereas Charles Schwab does not offer these capabilities. FxPro also distinguishes itself with a copy trading feature, something Charles Schwab does not provide. In terms of charting tools, FxPro offers 25 drawing tools compared to Charles Schwab’s 24, and both allow users to trade directly from stock charts.
When it comes to watch lists, Charles Schwab offers an extensive range of customizations with 580 columns compared to FxPro's more limited 6 columns. This broader scope is reflected in Charles Schwab's superior 5-star rating and higher ranking of #5 for trading platforms and tools by ForexBrokers.com, while FxPro receives a 4-star rating and sits at #17. These distinctions suggest that Charles Schwab might be a better fit for traders who value extensive customization and versatility in their trading tools, whereas FxPro could appeal more to those who rely on MetaTrader platforms and copy trading services.
| 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.
When comparing the mobile trading apps of Charles Schwab and FxPro, both brokers offer accessible apps for iPhone and Android users, ensuring that you can trade on the go with ease. Both platforms provide vital features like stock and forex price alerts, as well as the ability to sync watchlists between their mobile apps and online accounts. This means your changes are seamlessly updated across devices. Charles Schwab stands out by providing an impressive 374 technical studies for charting, allowing users to analyze market trends with depth, while FxPro offers 65 technical studies. Both apps facilitate drawing trendlines on charts and viewing multiple time frames, such as daily or intraday, while also automatically saving any drawings you make. Additionally, both apps let you create watchlists with real-time quotes, keeping you informed about market movements.
In terms of user ratings, Charles Schwab receives a five-star rating for its mobile trading app, which is reflected in its ranking as the #6 broker out of 63 by ForexBrokers.com. Meanwhile, FxPro earns a commendable 4.5 stars and is ranked at #15 in the same category. Whether you're looking for a more extensive range of technical studies or a highly rated user experience, both Charles Schwab and FxPro offer reliable options for mobile traders.
| 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.
Charles Schwab and FxPro both excel in providing daily market commentary and access to forex news from reputable sources like Bloomberg and Reuters. However, FxPro stands out by offering additional features such as technical analysis tools from Trading Central and a sentiment-based trading tool, which Charles Schwab lacks. Both brokers present an economic calendar displaying crucial global news events, helping traders make timely and informed decisions.
Despite some differences in tools and resources, Charles Schwab shines in overall research support, earning a top-tier 5-star rating. In comparison, FxPro receives 4 stars for research. According to ForexBrokers.com, Charles Schwab is ranked significantly higher, coming in at #4 out of 63 brokers, while FxPro is positioned at #26. Both brokers provide strong research capabilities, but Charles Schwab leads with its comprehensive offerings and higher ranking.
| 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 exploring educational resources for beginners, Charles Schwab and FxPro both provide essential learning tools, but their offerings differ in a few key areas. Charles Schwab provides comprehensive materials for those interested in forex and CFDs, including more than ten educational pieces such as articles and videos. They also organize monthly webinars that learners can participate in online. Importantly, Charles Schwab offers a searchable archive of past webinars, adding to the resources available for those who may have missed live events. FxPro matches Schwab in the number of educational pieces and also maintains an archive of previously recorded webinars, but it does not hold monthly educational webinars.
Both brokers meet the need for beginner-friendly resources, offering over ten videos specifically aimed at new traders. While FxPro offers valuable content, Charles Schwab goes a step further by providing at least ten advanced trading videos for seasoned investors looking to refine their skills. For those seeking to expand their investment vocabulary, both platforms feature investor dictionaries with over 50 terms. In terms of education quality, Charles Schwab's resources earn a 5-star rating and rank 6th among 63 brokers, exemplifying its commitment to investor education. Meanwhile, FxPro garners a 4-star rating and is positioned 18th, indicating room for growth in its educational offerings.
| 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 63 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
|
FxPro
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 93 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | FxPro | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
| Broker Screenshots | Charles Schwab | FxPro | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| 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 | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| 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 | FxPro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill