Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs iFOREX, 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 and iFOREX are both established online brokers, but they differ significantly in key attributes. Charles Schwab, founded in 1971, is a publicly traded company and a recognized bank. It commands high trust with a ForexBrokers.com Trust Score of 99, bolstered by holding five Tier-1 licenses. In contrast, iFOREX, established in 1996, is a private entity not listed on the stock exchange and is not a bank. It presents a moderate risk option, with a Trust Score of 75 and only one Tier-1 license.
When choosing between Charles Schwab and iFOREX, consider your priorities. Charles Schwab stands out for its high level of trustworthiness and strong regulatory backing. iFOREX might appeal to those okay with moderate trust ratings, despite its single Tier-1 license endorsement. Whether seeking an option with extensive regulatory credentials or a more modestly vetted alternative, understanding these factors helps in making an informed decision.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Year Founded | 1971 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab charges no commission on forex; your cost is the bid–ask spread. In October 2024, the average EUR/USD spread was 1.35 pips, which is on the higher side versus many brokers. There’s no minimum deposit for its main accounts. Forex trading runs through thinkorswim via a Schwab One account, with all trades settled in U.S. dollars. The smallest trade is 10,000 units (about $500 minimum margin at 20:1 leverage). If you need local-currency stock trading, the Schwab Global account reaches 12 markets and adds a currency conversion fee of roughly 0.2%–1% depending on balance; Schwab also shows overnight financing in-platform. Commissions & Fees rating: 4/5 stars; ranked #26 of 63 by ForexBrokers.com.
iFOREX does not publish average spread data we can cite here, so exact costs are harder to compare. Pricing is typically built into the spread and you may also pay overnight financing, but specific averages aren’t available. Commissions & Fees rating: 3/5 stars; ranked #62 of 63 by ForexBrokers.com.
Compared side by side, Schwab offers clearer pricing details and tools, though its EUR/USD spread of 1.35 pips isn’t the lowest. iFOREX’s lower ranking and lack of published averages make it tougher to estimate your total cost. If you want commission-free forex with U.S.-dollar settlement and optional access to global stock markets (with conversion fees), Schwab may fit. If you prioritize very tight spreads or smaller trade sizes, check iFOREX’s live quotes and terms before choosing.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.32 | N/A |
| All-in Cost EUR/USD - Active | 1.32 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
For range of investments, Charles Schwab offers far more choice than iFOREX. Schwab lists about 40,000 tradeable symbols and 73 forex pairs, while iFOREX provides roughly 750 symbols and 88 forex pairs. Both support forex trading via CFDs or spot. A key difference: Schwab lets clients buy exchange-traded shares on U.S. and international markets (think Apple on NASDAQ or Vodafone in London), whereas iFOREX does not offer direct share dealing on exchanges.
Neither broker supports copy trading or buying actual cryptocurrency, but both offer cryptocurrency derivatives. In independent reviews by ForexBrokers.com, Schwab earns 5 stars for Range of Investments and ranks 5th out of 63 brokers; iFOREX earns 3.5 stars and ranks 42nd. If you want deep market access with stocks and more symbols, Schwab fits the bill. If your focus is mainly forex pairs and CFD trading with a smaller lineup, iFOREX may suffice.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 750 |
| Forex Pairs (Total) | 73 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 vs iFOREX on trading platforms and tools: Schwab provides paper trading with a free virtual demo account, while iFOREX does not. Both brokers offer proprietary platforms and web-based trading, and both let you place orders directly from a chart. Platform coverage differs on desktop: Schwab has a downloadable Windows platform, while iFOREX is browser-only. Neither broker supports copy trading or MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
For overall platform quality, ForexBrokers.com rates Charles Schwab at 5 stars and ranks it #5 out of 63 brokers, while iFOREX earns 4 stars and ranks #55. If you want to practice with simulated trades or prefer a dedicated Windows desktop app, Schwab is the better fit. If you only need a web platform and like a proprietary interface, both can work, but iFOREX lacks a demo account and third-party platforms.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 374 | 57 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and iFOREX offer mobile trading apps for iPhone and Android, but their features differ in important ways. Schwab supports price alerts, watchlists that sync with your online account, and real-time quote watchlists. Its charting is far more advanced, with 374 technical studies, the ability to draw trendlines, and drawings that auto-save. By contrast, iFOREX does not offer price alerts, synced watchlists, trendline drawing, auto-saving of chart drawings, or real-time quote watchlists, and details on its technical studies are not available.
These differences show up in independent reviews: ForexBrokers.com rates Schwab’s mobile trading apps 5 stars and ranks them #6 out of 63 brokers, while iFOREX earns 4 stars and ranks #56. If you want deeper chart tools and convenient alerts that carry across devices, Schwab is the better fit. If you only need basic on-the-go access to your account, iFOREX may still do the job.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | No |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Trendlines Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Comparing market research at online brokers Charles Schwab and iFOREX: both provide daily market commentary and an economic calendar. Schwab adds forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, which iFOREX does not offer. Neither broker includes Autochartist. iFOREX does include Trading Central tools and a sentiment indicator showing long/short positioning—features Schwab does not provide. Schwab does not offer TipRanks or Acuity Trading; the provided details do not specify whether iFOREX integrates TipRanks or Acuity Trading.
For overall quality, Schwab earns 5 stars for Research and ranks #5 out of 63 brokers at ForexBrokers.com, while iFOREX scores 3.5 stars and ranks #49. In practice, pick Schwab if you want trusted, top-tier news alongside daily insights and a clear calendar; pick iFOREX if you value Trading Central analysis and crowd sentiment tools with your daily updates.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
New traders comparing Charles Schwab and iFOREX will see some key differences in education. Both brokers offer at least 10 beginner-friendly trading videos, but only Charles Schwab also provides 10+ advanced videos for experienced traders. Schwab runs online client webinars at least once a month, while iFOREX does not run monthly webinars. It is not confirmed whether either broker offers a dedicated forex or CFD education library of 10+ pieces, a searchable archive of recorded webinars, or an investing dictionary with 50+ terms.
According to ForexBrokers.com, Charles Schwab earns 5 stars for Education and ranks #6 out of 63 brokers, while iFOREX earns 3.5 stars and ranks #53. For beginners who want a clearer learning path with live sessions and advanced topics, Schwab may be the stronger choice; iFOREX still covers the basics well through its beginner video library. If forex and CFD education, archived webinars, or a large investing glossary matter to you, check each broker’s site for the latest details.
| Feature |
Charles Schwab
|
iFOREX
|
|---|---|---|
| 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 iFOREX. Charles Schwab finished with an overall rank of #6, while iFOREX finished with an overall rank of #52.
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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iFOREX
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 75 |
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Both Charles Schwab and iFOREX do not provide the option to buy actual (delivered) cryptocurrency, but they do offer the ability to trade in cryptocurrency derivatives.
Comparing deposit and withdrawal methods, Charles Schwab supports ACH/SEPA and bank wires but not PayPal or Skrill, while iFOREX supports PayPal, Skrill and bank wires but not ACH/SEPA, and Visa/Mastercard availability is not specified for either.
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 | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | iFOREX | |
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| Broker Gallery (click to expand) |
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| Regulation | Charles Schwab | iFOREX | |
|---|---|---|---|
| Trust Score | 99 | 75 | |
| Year Founded | 1971 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or SCA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 750 | |
| Forex Pairs (Total) | 73 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.32 | N/A | |
| All-in Cost EUR/USD - Active | 1.32 | N/A | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | iFOREX | |
|---|---|---|---|
| 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 | No |
| Trading Platforms | Charles Schwab | iFOREX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Price Alerts | Yes | No | |
| Charting - Indicators / Studies (Total) | 374 | 57 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Charles Schwab | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | Charles Schwab | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | iFOREX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Charles Schwab | iFOREX | |
|---|---|---|---|
| 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 [DELETED] | |||
| Review | Charles Schwab Review |
| Overall | Charles Schwab | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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