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 |
When comparing the commissions and fees of online brokers IG and Charles Schwab, you'll find notable differences that cater to diverse trading needs. IG excels with its pricing model suited for active traders, offering a range of execution methods beyond the standard market maker option. While not a traditional discount broker, IG's Forex Direct accounts are appealing for those executing large orders, with average spreads on its main account close to the industry norm. CFD account holders can benefit from competitive spreads averaging 0.69 pips during peak trading hours. Additionally, professional volume traders under EU guidelines can enjoy rebates up to 20% through a tiered active trader program. IG's innovative DMA account enhances cost-efficiency for savvy traders and requires a manageable £1,000 minimum deposit, an offering highly rated at 5 stars and ranked #8 by ForexBrokers.com.
In contrast, Charles Schwab provides forex trading through its Schwab One and Schwab Global accounts, accessible via the thinkorswim platform. Schwab appeals to a broader audience by eliminating minimum deposit requirements, making forex trading more accessible. Forex trades under Schwab, settled in U.S. dollars, involve no commissions but rely on bid/ask spreads, with the EUR/USD average at 1.35 pips. Schwab's platform conveniently displays overnight carry charges, giving traders a clear picture of holding costs. While Schwab scores 4 stars in commissions and fees, its ranking is #23 according to ForexBrokers.com, slightly lower than IG.
Ultimately, your choice between IG and Charles Schwab hinges on your trading style and specific needs. IG suits active traders seeking competitive pricing and a variety of rebates, while Schwab offers accessibility with no commission charges and an easy entry point for forex trading. Both brokers provide unique advantages, ensuring that you can find a platform that aligns perfectly with your financial goals.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.35 |
| All-in Cost EUR/USD - Active | 0.82 | 1.35 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and Charles Schwab are both highly regarded online brokers offering a wide range of investment options. IG provides access to 19,537 tradeable symbols, including 97 forex pairs, alongside U.S. and international exchange-traded securities. It also stands out by allowing you to purchase actual cryptocurrencies, unlike Charles Schwab, which focuses on cryptocurrency derivatives. On the other hand, Charles Schwab offers an impressive 40,000 tradeable symbols, although it has fewer forex pairs, with 73 available. Both brokers enable trading in exchange-traded securities on U.S. and international markets and provide the option to invest in cryptocurrency derivatives, but neither supports copy trading.
Despite these differences, both IG and Charles Schwab receive a 5-star rating for their range of investments. IG is ranked #4 in this category on ForexBrokers.com, while Charles Schwab follows closely at #5. These rankings underscore their competitive standing in offering diverse investment opportunities. Whether prioritizing more forex options and cryptocurrency access with IG or a larger pool of tradeable symbols with Charles Schwab, investors find robust offerings with both platforms to meet their trading needs.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 40000 |
| Forex Pairs (Total) | 97 | 73 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | 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.
When comparing IG and Charles Schwab in terms of their trading platforms and tools, both brokers shine with top-notch offerings, each earning a perfect five-star rating from ForexBrokers.com. IG and Charles Schwab provide users with the convenience of simulated trading, giving traders a chance to practice with virtual funds. They both feature proprietary platforms and offer seamless desktop and web-based platforms for trading. However, IG edges out in flexibility with support for MetaTrader 4 (MT4), while Charles Schwab does not offer MT4 compatibility. Neither broker supports MetaTrader 5 (MT5), copy trading, DupliTrade, or ZuluTrade.
Charting features are abundant, with IG providing 20 drawing tools and Charles Schwab offering a slightly higher number with 24. Both brokers enable trading directly from charts, enhancing user experience and efficiency. A distinction arises with watchlist customization, where Charles Schwab impressively supports 580 columns, a stark contrast to IG's 5. Despite these differences, both IG and Charles Schwab are highly regarded for their comprehensive trading tools, demonstrating their commitment to providing traders with versatile and user-friendly platforms. Notably, IG is ranked #2, while Charles Schwab is ranked #5 out of 63 brokers by ForexBrokers.com in the Trading Platforms and Tools category, reflecting both brokers' strong positions in the market.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 374 |
| Charting - Drawing Tools (Total) | 20 | 24 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 580 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and Charles Schwab both offer sleek mobile trading apps for iPhone and Android, providing traders with a range of features designed to enhance the trading experience. Both apps allow users to set stock and forex price alerts, keeping them informed about market movements. They also support watchlist symbol syncing, which means any changes you make to your watchlists on your mobile app will automatically update on your online account, and vice versa. When it comes to charting capabilities, both apps allow users to draw trendlines and view charts over various time frames, such as daily, weekly, or intraday. Furthermore, both apps save your chart drawings automatically and allow you to create watchlists with real-time quotes.
However, when comparing charting features, you'll find a notable difference in the number of technical studies offered. IG provides 33 technical studies, while Charles Schwab offers an impressive 374. Both platforms are top-rated for their mobile trading apps, each earning a five-star rating. Despite this, IG takes the lead, being ranked as the number one mobile trading app by ForexBrokers.com out of 63 brokers, whereas Charles Schwab is ranked sixth. Whether you're focusing on forex or stock trading, both apps offer a strong platform, but IG edges out with its higher ranking in the mobile trading category.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 374 |
| 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.
Both IG and Charles Schwab provide comprehensive daily market commentary, ensuring investors are well-informed with timely insights. Each of these online brokers also delivers forex news sourced from industry leaders such as Bloomberg and Reuters. However, when it comes to specialized tools, IG stands out with offerings like Autochartist for technical analysis, a sentiment-based trading tool displaying long and short positions, and enhanced research options from TipRanks and Acuity Trading. In these areas, Charles Schwab does not offer comparable tools, potentially limiting some advanced market analysis capabilities for its users.
Despite these differences, both IG and Charles Schwab excel with economic calendars displaying key global events, reflecting their commitment to keeping investors informed about upcoming market movements. Their strong research support earns them both a solid five-star rating. However, ForexBrokers.com ranks IG slightly higher for research quality, placing it at #2 out of 63 brokers, compared to Charles Schwab's strong #4 position.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking to dive into the world of trading, both IG and Charles Schwab stand out with their impressive educational resources. Both brokers provide comprehensive learning materials on forex and CFDs, offering more than 10 educational pieces, including articles, videos, and archived webinars. Each company also hosts regular client webinars and maintains a searchable archive of past sessions, making continuous learning accessible. Beginner traders can benefit from an array of educational videos tailored just for them at both IG and Charles Schwab, ensuring a supportive entry into trading concepts.
For those ready to delve deeper, advanced traders will find value too, as both brokers offer over 10 advanced educational videos designed to expand their expertise. Both platforms also provide an investor dictionary with more than 50 terms defined, aiding in the acquisition of financial literacy. While both IG and Charles Schwab receive a 5-star education rating, IG holds a distinct edge, ranking first out of 63 brokers on ForexBrokers.com, compared to Charles Schwab’s sixth-place standing. This recognition highlights IG's commitment to leading in education, making it a top consideration for those prioritizing educational support in their trading journey.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 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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IG allows users to buy both actual cryptocurrencies and cryptocurrency derivatives, whereas Charles Schwab offers only cryptocurrency derivatives.
In comparing online brokers IG and Charles Schwab regarding their account funding options, both support ACH and SEPA transfers as well as bank wires for deposits and withdrawals, but IG stands out by offering additional flexibility with PayPal and Visa or Mastercard options, whereas Charles Schwab does not, and neither platform supports Skrill transactions.
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 (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 40000 | |
| Forex Pairs (Total) | 97 | 73 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | 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 | IG | Charles Schwab | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.35 | |
| All-in Cost EUR/USD - Active | 0.82 | 1.35 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | Charles Schwab | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 580 | |
| Charting - Indicators / Studies (Total) | 33 | 374 | |
| Charting - Drawing Tools (Total) | 20 | 24 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 374 | |
| 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 | IG | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Charles Schwab | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Charles Schwab | |
|---|---|---|---|
| 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 | 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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