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 |
Charles Schwab and FxPro both earn 4 out of 5 stars for commissions and fees, with Schwab ranked 23rd of 63 brokers and FxPro ranked 29th. Schwab stands out for commission-free forex trading where your cost is the spread, while FxPro mixes spread-only and commission-based pricing depending on platform. On headline pricing, Schwab’s average EUR/USD spread was 1.35 pips in October 2024 (on the higher side), whereas FxPro’s most competitive setup is on cTrader with an effective EUR/USD cost around 1.27 pips (based on August 2020 data that combines a low raw spread plus a commission-equivalent).
Charles Schwab has no account minimum for its primary brokerage accounts and lets forex traders use thinkorswim via the Schwab One account. Forex trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that implies about $500 in required margin. If you need to place trades in a foreign currency via Schwab One, you must call in; Schwab Global supports 12 markets in local currencies but adds currency conversion fees of about 0.2% to 1% depending on your balance. Schwab doesn’t charge forex commissions—your trading costs are the bid/ask spread—and the platform shows overnight financing (carry) in a calculator so you can estimate holding costs.
FxPro’s pricing varies by platform and execution. On cTrader, pricing is commission-based with an average EUR/USD spread near 0.37 pips plus roughly a 0.9 pip commission-equivalent, for an effective cost around 1.27 pips. On MT4/MT5 with variable spreads, EUR/USD was about 1.58 pips on market execution (1.51 on MT5) and 1.71 pips on instant execution (August 2020 data). Fixed spreads are available on MT4 but not MT5. Active traders can join the Elite program for up to 30% discounts, though overall pricing still tends to land above the sharpest low-cost competitors. FxPro’s commissions and fees rating: 4/5 stars, ranked 29th of 63; Charles Schwab: 4/5 stars, ranked 23rd of 63.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.27 | 1.6 |
| All-in Cost EUR/USD - Active | 1.27 | 1.3 |
| Non-wire bank transfer | 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 and FxPro both support forex trading (spot or CFDs), but their range of investments differs greatly. Charles Schwab lists about 40,000 tradeable symbols versus 2,249 at FxPro, and offers slightly more forex pairs (73 vs. 70). Schwab also lets clients buy exchange‑traded securities on U.S. exchanges—so you can purchase shares like Apple—while FxPro does not offer U.S.-listed shares. Both brokers provide access to exchange‑traded securities on certain international exchanges, which may appeal to globally minded investors.
Feature-wise, FxPro includes copy trading, while Schwab does not. Neither broker sells actual cryptocurrency, but both offer cryptocurrency CFDs. For range of investments, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers on ForexBrokers.com, compared with FxPro’s 4-star rating and #24 ranking. In short, pick Schwab if you want a very wide investment menu that includes U.S. stocks; choose FxPro if you mainly trade forex and CFDs and value copy trading.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2249 |
| Forex Pairs (Total) | 73 | 70 |
| 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.
Both Charles Schwab and FxPro let you practice with a free demo (paper trading). Each provides its own in-house platform along with a Windows desktop download and a web-based platform. You can place trades directly from charts on both. The key difference is copy trading: FxPro offers it, while Charles Schwab does not.
FxPro also supports MetaTrader 4 and MetaTrader 5, while Charles Schwab does not support either MetaTrader platform. The number of built-in technical indicators and watchlist fields isn’t specified here. For Trading Platforms and Tools, Charles Schwab earns 5 stars and is ranked #7 out of 63 brokers; FxPro earns 4 stars and ranks #18. Consider Charles Schwab if you want a highly rated, all-in-one platform with paper trading. Choose FxPro if you want MetaTrader plus copy trading alongside desktop and web access.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| 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.
Comparing the Charles Schwab mobile trading app vs the FxPro mobile app, both are available for iPhone and Android. Each offers price alerts for stocks or forex, watchlist syncing between the app and your online account, and charting tools that let you draw trendlines with drawings saved automatically.
The biggest difference is charting depth: Charles Schwab includes 374 technical studies in its mobile charts, while FxPro offers 65. In third-party testing, Schwab’s mobile app earned 5 stars and ranked #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com; FxPro earned 4.5 stars and ranked #15. Choose Schwab if you want more built-in indicators for analysis, while FxPro remains a capable pick thanks to alerts, syncing, and drawing tools.
| 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.
For market research, both Charles Schwab and FxPro deliver daily market commentary, top-tier forex news from sources like Bloomberg/Reuters/Dow Jones, and an easy-to-use economic calendar. Neither broker offers tools from Autochartist, TipRanks, or Acuity Trading. The main difference is in add-ons: FxPro includes Trading Central’s technical analysis and a sentiment tool that shows the ratio of long vs. short positions, while Schwab does not.
These features line up with their third‑party scores. ForexBrokers.com rates Charles Schwab 5 stars for Research and ranks it #5 out of 63 brokers, while FxPro earns 4 stars and ranks #23. If you want premium news and daily commentary, both will fit the bill. If Trading Central and crowd sentiment matter to you, FxPro has an edge; if you prefer a higher-rated overall research suite, Schwab comes out ahead.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing Charles Schwab vs FxPro for beginner trading education: Schwab delivers monthly online client webinars, while FxPro does not. Both brokers offer at least 10 beginner-friendly video lessons that explain core trading concepts in plain language. As you progress, Schwab provides 10+ advanced videos to deepen your skills, whereas FxPro does not meet that advanced-video threshold, which may limit your learning path. The data provided does not specify whether either broker supplies 10 or more pieces focused primarily on forex and CFDs.
On quality signals, Schwab earns 5 stars for Education and ranks #6 out of 63 brokers at ForexBrokers.com. FxPro earns 4 stars and ranks #17 out of 63. For beginners who want steady, live instruction and room to grow from basics to advanced topics, Schwab stands out. FxPro still offers a helpful library of beginner videos, but lacks regular webinars and a larger set of advanced lessons.
| 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 SCA 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. 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) - Standard account | 1.27 | 1.6 | |
| All-in Cost EUR/USD - Active | 1.27 | 1.3 | |
| 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 | Yes | Yes |
| Trading Platforms | Charles Schwab | FxPro | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| 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 Watchlist [DELETED] | |||
| 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 | Yes | |
| Autochartist | No | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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