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 |
When comparing Charles Schwab and FxPro, both brokers achieve a 4-star rating for commissions and fees, indicating strong offerings in this aspect. However, Schwab stands out by securing the 24th rank in the Commissions and Fees category among 63 brokers, whereas FxPro is positioned at 32. Charles Schwab, known for its absence of a minimum deposit requirement, offers two primary accounts—Schwab One and Schwab Global—which are conducive to forex trading via the thinkorswim platform. Schwab does not impose commissions on forex trades; rather, trading costs are tied to the bid/ask spread, with the average spread for the EUR/USD pair in October 2024 being 1.35 pips.
FxPro, on the other hand, offers several account types with varying commission structures. Notably, on its cTrader platform, FxPro maintains a competitive edge with an effective spread of approximately 1.27 pips for the EUR/USD pair. This figure includes an average spread and a commission equivalent, making it an attractive option for those who prefer commission-based pricing. However, FxPro's variable spreads on the MT4 and MT5 platforms are reported at higher levels, impacting overall cost-effectiveness.
Both brokers present opportunities and limitations. Schwab's accessibility through the thinkorswim platform makes it a viable choice for traders familiar with the U.S. dollar settlements. Meanwhile, FxPro’s options in spread types and execution methods offer flexibility for different trading styles, though users should consider the impacts of variable spreads and execution nuances. Both brokers cater to diverse trading needs, but evaluating specific cost structures can guide traders to align with the most suitable platform for their needs.
| 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, it's clear that their offerings cater to different types of investors. Charles Schwab shines with an impressive array of 40,000 tradeable symbols, including 73 forex pairs. This offers investors a wide variety of choices when it comes to engaging in both national and international markets. Schwab allows clients to transact directly in exchange-traded securities on both U.S. and global platforms, providing the opportunity to own shares of major companies like Apple and Vodafone. However, Schwab does not support copy trading and only offers cryptocurrency derivatives instead of actual cryptocurrencies.
FxPro, on the other hand, provides 2,249 tradeable symbols, including 70 forex pairs, which is less extensive than Schwab's offerings. Although FxPro supports crypto derivatives like Schwab, it does not allow users to invest directly in U.S. exchange-traded securities. However, FxPro compensates with copy trading options, adding a collaborative investment dynamic for its users. While both platforms offer diverse investment choices, Charles Schwab receives a higher rating for its range of investments, with a 5-star rating compared to FxPro's 4-star, and ranks significantly higher in independent broker evaluations for investment range.
| 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 |
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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 | ||
| 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 | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
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