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.
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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 |
Charles Schwab and FxPro both earn 4 out of 5 stars for commissions and fees, but Schwab comes out ahead in the ranking, placing #25 out of 36 brokers compared with FxPro at #31. For forex traders, Schwab keeps things simple by not charging a separate commission on forex trades; instead, costs are built into the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side versus the industry average, but the broker does offer a low barrier to entry with no minimum deposit on its main account types.
Schwab’s two key forex-friendly account types are Schwab One and Schwab Global. Schwab One lets traders use thinkorswim and trade forex in U.S. dollars, with a minimum trade size of 10,000 units. Schwab Global is better for people trading international markets, since it gives access to 12 foreign markets in local currencies, though currency conversion fees can range from 0.2% to 1% depending on account balance size. Overnight carry costs can also be checked in thinkorswim, which helps traders estimate holding costs before they trade.
FxPro also scores 4 out of 5 stars, but its pricing is generally higher than the industry average. On MT4 and MT5, FxPro offers variable spreads, while on cTrader it uses commission-based pricing. Its effective EUR/USD cost on cTrader is about 1.27 pips, and its variable spreads on MT4 and MT5 can be higher, with examples around 1.51 to 1.71 pips depending on execution type. FxPro’s Active Trader program can lower costs by up to 30% for Elite account users, but overall its fees still tend to trail lower-cost rivals.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Spread-only account | 1.27 | 1.44 |
| All-in Cost EUR/USD - Raw spread account | 1.27 | 0.92 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab offers a wider range of investments overall than FxPro, with about 40,000 tradeable symbols compared with FxPro’s 2,278. Schwab also lists 73 forex pairs, while FxPro offers 75, so FxPro has a slight edge in currency trading. Both brokers let clients trade forex as CFDs or spot contracts, and both offer cryptocurrency CFDs, but neither provides access to actual, delivered crypto.
For stock and market access, Charles Schwab supports exchange traded securities on both U.S. and international exchanges, which means clients can buy real shares such as U.S.-listed stocks and overseas listings. FxPro offers international exchange traded securities, but not U.S.-listed shares. FxPro does stand out for copy trading, which Schwab does not offer. Reflecting this difference in choice, Charles Schwab is rated 5 out of 5 stars for Range of Investments and ranks #5 out of 36 brokers, while FxPro is rated 4 stars and ranks #24.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2278 |
| Forex Pairs (Total) | 73 | 75 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 both make it easy to practice before risking real money, since each offers free paper trading demo accounts. They also both provide desktop and web-based trading platforms, plus the ability to trade directly from charts. Where Charles Schwab stands out is its in-house platform, which gives it a more custom feel for traders who want a broker-built experience. FxPro, on the other hand, leans more toward third-party tools, including MetaTrader 4 and MetaTrader 5, along with copy trading for users who want to follow other traders.
In terms of platform quality, Charles Schwab has the edge. It earns 5 out of 5 stars for Trading Platforms and Tools and ranks #7 out of 36 brokers at ForexBrokers.com, while FxPro scores 4 out of 5 stars and ranks #18. If you want a broker with a built-in platform and a strong all-around platform lineup, Charles Schwab is the stronger pick. If you prefer MetaTrader support and copy trading features, FxPro may be the better fit.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 53 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and FxPro both make it easy to trade on the go, with iPhone and Android apps, price alerts, and watchlist syncing between mobile and online accounts. Each app also lets users draw trendlines on charts, and those drawings are saved automatically. For everyday mobile trading features, both brokers cover the basics well and give traders a smooth way to stay connected to the market.
Where Charles Schwab stands out is charting. Its mobile app offers 374 technical studies, compared with 65 at FxPro, which may matter more to active traders who rely on deeper chart analysis. This edge shows in ratings too: Charles Schwab earns 5 stars for mobile trading apps and ranks #6 out of 36 brokers on ForexBrokers.com, while FxPro scores 4.5 stars and ranks #15. If you want the stronger mobile charting experience, Charles Schwab has the advantage.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 65 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and FxPro both give traders daily market commentary and an economic calendar, so each platform offers useful basics for following news and upcoming events. That said, Charles Schwab has a clear edge when it comes to market research because it also provides forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. FxPro does not offer that level of third-party news coverage, but it does include helpful research extras such as Autochartist and Trading Central, which Charles Schwab does not.
Neither broker offers sentiment tools, TipRanks, or Acuity Trading research. Still, Charles Schwab stands out overall with a 5-star Research rating and a #5 ranking out of 36 brokers from ForexBrokers.com, while FxPro holds a 4-star rating and ranks #23. In simple terms, Charles Schwab is the stronger choice for market research, while FxPro offers a few useful chart and signal tools that may appeal to traders who want more technical guidance.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | No | Yes |
| Client sentiment data | No | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly learning tools, Charles Schwab stands out over FxPro. Schwab offers forex and CFDs education, runs online educational webinars at least once a month, and provides 10 or more beginner videos as well as 10 or more advanced videos for more experienced traders. That depth of content helps new traders build a stronger base and gives them room to keep learning as they gain experience. Schwab also earns a top 5-star Education rating and ranks #6 out of 36 brokers in ForexBrokers.com’s Education category.
FxPro also gives beginners access to at least 10 educational videos on trading basics, but it falls behind Charles Schwab in several key areas. It does not offer monthly educational webinars, and it does not meet the standard for 10 or more advanced educational videos or forex/CFD education at the same level. FxPro receives a 4-star Education rating and ranks #17 out of 36, making it a decent option for starter education, but not as complete as Schwab for traders who want a wider range of learning resources.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 FxPro. Charles Schwab finished with an overall rank of #6, while FxPro finished with an overall rank of #20.
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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Charles Schwab vs. FxPro: neither broker lets you buy actual delivered cryptocurrency, but both support trading cryptocurrency CFDs.
Both Charles Schwab and FxPro support ACH/SEPA and bank wire transfers for deposits and withdrawals, but FxPro also supports PayPal and Skrill, which Charles Schwab does not.
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 (FSA 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, FSRA, or CMA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 2278 | |
| Forex Pairs (Total) | 73 | 75 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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) - Spread-only account | 1.27 | 1.44 | |
| All-in Cost EUR/USD - Raw spread account | 1.27 | 0.92 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FxPro | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | Charles Schwab | FxPro | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | Charles Schwab | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 53 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 65 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | FxPro | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FxPro | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Charles Schwab | FxPro | |
|---|---|---|---|
| EUR/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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