Written by ForexBrokers.com
In this head to head comparison of IG vs Charles Schwab, 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.
IG and Charles Schwab both enjoy a stellar reputation in the world of online brokerage, each earning a perfect Trust Score of 99 from ForexBrokers.com. This high rating affirms that both companies are considered highly trusted. Founded in 1974, IG is not only publicly traded but also operates as a bank. Similarly, Charles Schwab, established a bit earlier in 1971, holds a publicly-traded status and functions as a bank. These factors contribute to their reliability and trustworthiness in managing financial transactions and investments.
When it comes to regulatory credentials, IG holds a distinct edge with 8 Tier-1 licenses, which are considered highly trusted according to ForexBrokers.com. In addition, IG possesses 2 Tier-2 licenses, indicating a strong regulatory standing. On the other hand, Charles Schwab holds 5 Tier-1 licenses but does not have any Tier-2 licenses. Both brokers have taken considerable strides to establish themselves as secure platforms for trading and investing, yet IG's additional licenses might appeal to customers who prioritize regulatory oversight and safety.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1974 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 8 | 5 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
Looking at commissions and fees, IG is the stronger value for active forex traders, while Charles Schwab is simpler but typically pricier on spreads. IG earns 5 stars and ranks #7 of 63 for Commissions and Fees, versus Charles Schwab’s 4 stars and #23 of 63. In plain terms: IG can deliver lower all-in trading costs if you trade frequently or in size, whereas Schwab’s $0 commission model relies on the spread and tends to cost more per trade on major pairs like EUR/USD.
IG offers two main pricing paths. On its CFD account, typical EUR/USD spreads averaged 0.69 pips during the main session in July 2023 (0.98 pips across all sessions; IG US averaged 1.18 pips). High-volume traders who qualify as professionals can earn 10%–20% spread rebates, which can push effective costs as low as about 0.60 pips in the example provided. For deeper discounts, IG’s DMA (Forex Direct) account requires about £1,000 and uses tiered commissions: average EUR/USD spreads were 0.62 pips in July 2023, with an all-in cost around 0.82 pips after the commission. Commissions start at $60 per million and can drop to $10 per million per side for very large monthly volume.
Charles Schwab charges no separate commission for forex; your cost is the spread. Its average EUR/USD spread was 1.35 pips in October 2024, which sits on the higher end of the industry. There’s no minimum deposit for the main accounts that access thinkorswim, but the smallest forex trade size is 10,000 units and trades settle in U.S. dollars. If you use the Schwab Global account to trade in local currencies, expect conversion fees of about 0.2%–1% (based on balance size). Schwab also displays overnight financing (carry) charges in-platform so you can estimate holding costs.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | £1 | $0 |
| Average spread (EUR/USD) - Standard account | 0.91 | 1.27 |
| All-in Cost EUR/USD - Active | 0.82 | 1.27 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and Charles Schwab both earn 5 stars for range of investments, but they shine in different ways. Charles Schwab lists about 40,000 tradeable symbols compared with IG’s 19,537, which may appeal if you want sheer breadth across markets. Both brokers support forex trading as CFDs or spot, with IG offering 97 currency pairs versus Schwab’s 73. Each lets you buy exchange-traded securities on U.S. and international exchanges (think Apple on Nasdaq or Vodafone in London), and neither offers copy trading.
For crypto access, the two diverge: IG lets you buy actual cryptocurrency as well as crypto CFDs, while Charles Schwab does not support buying delivered crypto but does offer crypto CFDs. If your priority is the most symbols overall, Schwab leads; if you want more forex pairs and the option to purchase real crypto, IG has the edge. According to ForexBrokers.com, IG ranks #4 and Charles Schwab ranks #5 out of 63 brokers for range of investments.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 40000 |
| Forex Pairs (Total) | 97 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | Yes | 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.
IG and Charles Schwab both deliver user-friendly trading platforms and tools. Each broker offers a free paper trading or demo account, proprietary platforms built in-house, a Windows desktop download, and a web-based platform. Both let you place orders directly from price charts, and neither supports copy trading.
If you want MetaTrader, IG stands out by supporting both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not offer MT4 or MT5 and instead centers on its own platforms. Despite different platform lineups, both earn 5 out of 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s rankings, IG is #1 out of 63 brokers in this category, while Charles Schwab is #7.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 33 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and Charles Schwab both deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, watchlist syncing with your online account, trendline drawing on charts, and automatic saving of your chart annotations—so what you do on one device carries over to the next.
For charting, IG offers 33 technical studies, while Charles Schwab provides 374. Both apps earn 5 out of 5 stars for Mobile Trading Apps. According to ForexBrokers.com, IG ranks #1 out of 63 brokers in this category, and Charles Schwab ranks #6. If you want the top-ranked mobile experience with essential studies, IG stands out; if you prefer a wider library of indicators inside the app, Charles Schwab has the edge.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing IG vs. Charles Schwab for market research, both brokers deliver daily market commentary, top‑tier forex news from sources like Bloomberg/Reuters/Dow Jones, and an economic calendar. Each earns a 5‑star Research rating from ForexBrokers.com, though IG is ranked #2 out of 63 brokers while Charles Schwab sits at #5.
Where IG pulls ahead is in added tools: it includes Autochartist, a sentiment indicator showing long/short positioning, TipRanks research, and Acuity Trading’s Signal Centre. Charles Schwab does not offer those, and neither broker uses Trading Central. If you want more built‑in third‑party insights and sentiment data, IG has the edge; if your needs center on daily commentary, top‑tier news, and a calendar, both brokers cover the basics well.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
If you’re a beginner comparing education at IG and Charles Schwab, both brokers make it easy to start learning. Each hosts online client webinars at least once a month and offers 10 or more beginner-focused trading videos, so you can learn at your own pace with short lessons and live sessions. When you’re ready to go deeper, both also provide 10 or more advanced videos to help you level up.
Both brokers earn 5 stars for Education. In ForexBrokers.com’s ranking of 63 brokers, Charles Schwab comes in at #6 and IG at #7, giving Schwab a slight edge overall. Note: the source data did not confirm whether either broker meets the 10-piece threshold for forex- or CFD-specific education.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than Charles Schwab. IG finished with an overall rank of #1, while Charles Schwab finished with an overall rank of #6.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In cryptocurrency trading, IG lets you buy actual delivered crypto and trade cryptocurrency CFDs, while Charles Schwab does not support buying actual crypto but does offer cryptocurrency CFDs.
IG vs Charles Schwab: Both brokers support ACH/SEPA transfers and bank wire deposits and withdrawals, neither supports Skrill, and only IG offers PayPal (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 | IG | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Charles Schwab Review |
| Broker Screenshots | IG | Charles Schwab | |
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| Regulation | IG | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 5 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | IG | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 40000 | |
| Forex Pairs (Total) | 97 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | Yes | 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 | IG | Charles Schwab | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.91 | 1.27 | |
| All-in Cost EUR/USD - Active | 0.82 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | IG | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | £1 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | IG | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | IG | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 374 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Charles Schwab | |
|---|---|---|---|
| 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 | 33 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Charles Schwab | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IG | Charles Schwab | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IG Review | Charles Schwab Review |
| Overall | IG | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Charles Schwab Review |
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