Interactive Brokers vs Charles Schwab 2025

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.

Regulation

Interactive Brokers, established in 1977, and Charles Schwab, founded in 1971, are both publicly traded online brokers that have garnered perfect Trust Scores of 99 from ForexBrokers.com, placing them in the highly trusted category. However, despite their equal ratings, there are notable differences in their structures and regulatory statuses. Interactive Brokers operates exclusively as a brokerage while Charles Schwab also functions as a bank, offering a broader range of financial services.

When it comes to regulatory licensing, Interactive Brokers holds 9 Tier-1 licenses and 2 Tier-2 licenses. In comparison, Charles Schwab holds 5 Tier-1 licenses and does not possess any Tier-2 licenses. These licenses reflect the stringent oversight each company undergoes to maintain their standing among investors. Overall, both platforms are strong candidates for those seeking trusted online brokers, with Interactive Brokers demonstrating wider regulatory reach through its licensing.

Feature	Interactive Brokers	Charles Schwab
Year Founded info	1977	1971
Publicly Traded (Listed) info	Yes	Yes
Bank info	No	Yes
Tier-1 Licenses info	9	5
Tier-2 Licenses info	2	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Fees

Interactive Brokers (IBKR) and Charles Schwab take different approaches to forex pricing. IBKR uses tight, market-based spreads plus a commission, while Schwab is commission-free with costs built into the spread. IBKR doesn’t publish average spreads, but in Q3 2024 the EUR/USD averaged 0.19 pips at IBKR, translating to about 0.59 pips all-in after commissions. By comparison, Schwab’s average EUR/USD spread in October 2024 was 1.35 pips. In short: IBKR tends to deliver lower all-in trading costs, especially on major pairs.

At IBKR, forex commissions start at 0.00002 (0.2 basis points) of the U.S. dollar trade value per side with a $2 minimum per order ($4 round trip), which equates to roughly $16–$40 per million round trip. Because of the $2 minimum, trade sizes under 100,000 units can feel pricier on a per-pip basis. High-volume traders can qualify for discounts (minimums can drop to $1.50 or even $1 per order, and rates as low as 0.08 bps). IBKR aggregates quotes from 17 major interbank dealers and charges a commission instead of marking up spreads. Schwab charges no forex commission; you pay the spread. All trades settle in U.S. dollars, the smallest trade size is 10,000 units (about $500 initial margin at 20:1), and the thinkorswim platform shows overnight financing. For international stocks, Schwab Global offers local-currency trading with currency conversion fees of about 0.2%–1% depending on balance size.

Ratings and rankings for commissions and fees: Interactive Brokers is 5 out of 5 stars and ranked #2 of 63 brokers by ForexBrokers.com. Charles Schwab is 4 out of 5 stars and ranked #26 of 63. If minimizing all-in costs is your top priority—especially for larger or frequent trades—IBKR often comes out ahead. If you prefer simple, commission-free pricing and plan to place modest-sized trades, Schwab’s spread-only model may be easier to work with, albeit typically at a higher spread.

Feature	Interactive Brokers	Charles Schwab
Minimum Deposit info	$0	$0
Average spread (EUR/USD) - Standard account info	0.59 info	1.32 info
All-in Cost EUR/USD - Active info	0.65 info	1.32 info
Non-wire bank transfer info	Yes	Yes
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes

Dive deeper: Best Low Spread Forex Brokers.

Range of investments

Interactive Brokers vs Charles Schwab: both brokers deliver a wide range of investments, including access to exchange-traded U.S. stocks and ETFs, plus international shares. Forex is available at each broker (via CFD or spot), with Interactive Brokers offering 90 currency pairs compared with Charles Schwab’s 73. If sheer breadth of listings matters, Charles Schwab leads with about 40,000 tradeable symbols, while Interactive Brokers lists roughly 8,500.

Crypto access is a key difference: Interactive Brokers lets clients buy actual cryptocurrency, while Charles Schwab does not; both support cryptocurrency CFDs. Neither broker offers copy trading. For Range of Investments, each earns 5 out of 5 stars, though ForexBrokers.com ranks Interactive Brokers #1 out of 63 brokers in this category, with Charles Schwab at #5. Choose Schwab for the largest overall symbol count, or Interactive Brokers for deeper forex coverage and direct crypto.

Feature	Interactive Brokers	Charles Schwab
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	40000
Forex Pairs (Total) info	90	73
U.S. Stocks (Shares) info	Yes	Yes
Global Stocks (Non-U.S. Shares) info	Yes	Yes
Copy Trading info	No	No
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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.

Trading platforms and tools

Interactive Brokers and Charles Schwab both deliver full-featured trading platforms with free paper (simulated) trading, so you can practice before risking real money. Each broker offers a proprietary platform available as a Windows desktop download and a web-based platform you can use in your browser. Both let you place trades directly from stock charts. Neither broker supports copy trading or MetaTrader (MT4 or MT5).

For trading platforms and tools, both brokers earn 5 stars from ForexBrokers.com, with Interactive Brokers ranked #3 out of 63 brokers and Charles Schwab ranked #5. If third-party rankings matter to you, Interactive Brokers gets a slight edge, while Charles Schwab remains a top-tier pick with similar platform access and paper trading included.

Feature	Interactive Brokers	Charles Schwab
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	No
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	No
Charting - Indicators / Studies (Total) info	155	374
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and Charles Schwab both offer full-featured mobile trading apps for iPhone and Android. Each app supports price alerts and watchlists that sync with your online account, so changes carry over across devices. Both let you draw trendlines on charts, and both earned 5-star ratings for mobile trading.

For charting depth, Schwab offers more technical studies (374 vs. 97 for Interactive Brokers) and automatically saves your chart drawings, while Interactive Brokers does not auto-save. Despite that, ForexBrokers.com ranks Interactive Brokers higher overall for Mobile Trading Apps (#4 of 63) compared with Charles Schwab (#6 of 63). Choose Schwab if you want a bigger set of indicators and saved drawings, or pick Interactive Brokers if overall mobile performance and ranking matter more to you.

Feature	Interactive Brokers	Charles Schwab
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	374
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes

Dive deeper: Best Forex Trading Apps.

Market research

Interactive Brokers vs Charles Schwab: both deliver daily market commentary, an economic calendar, and forex news from major outlets like Bloomberg, Reuters, and Dow Jones. Each earns a 5-star Research rating, yet ForexBrokers.com ranks Interactive Brokers slightly higher (#3 of 63) than Charles Schwab (#5 of 63), reflecting a small edge in overall research depth.

The key differences come down to third‑party tools. Neither broker uses Autochartist, but Interactive Brokers adds Trading Central analytics, a sentiment gauge showing the ratio of long vs. short positions, TipRanks insights, and Acuity Trading tools like Signal Centre. Charles Schwab does not include these extras. If you want richer toolsets and sentiment data, Interactive Brokers stands out; if you mainly need daily commentary, an economic calendar, and headline news, both brokers cover the bases well.

Feature	Interactive Brokers	Charles Schwab
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	No
Trading Central info	Yes	No
Client sentiment data info	Yes	No
TipRanks info	Yes	No
Acuity Trading info	Yes	No
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers and Charles Schwab both give beginners a clear learning path. Each hosts monthly client webinars, so you can ask questions and keep learning in real time. Both brokers also provide at least 10 beginner-focused trading videos to teach the basics, and each offers 10+ advanced videos for when you’re ready to build on those skills.

For overall education quality, both Interactive Brokers and Charles Schwab earned 5 stars. According to ForexBrokers.com’s 63-broker review, Interactive Brokers ranks #3 in Education while Charles Schwab ranks #6, giving IB a slight edge in this category. If you want the higher-ranked library, start with Interactive Brokers; if you prefer a similar lineup with the same cadence of webinars and beginner videos, Charles Schwab is also a strong choice.

Feature	Interactive Brokers	Charles Schwab
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Charles Schwab. Interactive Brokers finished with an overall rank of #2, while Charles Schwab finished with an overall rank of #6.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature	Interactive Brokers	Charles Schwab
Overall Rating info
Trust Score info	99	99
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

Can you trade cryptocurrency with Interactive Brokers or Charles Schwab?

What funding options does each broker offer?

×

×

Sponsored

+ Add Broker

Close Menu ×

navigate_before navigate_next

Overall Rating	Interactive Brokers	Charles Schwab
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	Charles Schwab Review

Broker Screenshots	Interactive Brokers	Charles Schwab
Broker Gallery (click to expand) info

Regulation	Interactive Brokers	Charles Schwab
Trust Score info	99	99
Year Founded info	1977	1971
Publicly Traded (Listed) info	Yes	Yes
Bank info	No	Yes
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	No
Tier-1 Licenses info	9	5
Tier-2 Licenses info	2	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Tier-1 Licenses (Highly Trusted)	Interactive Brokers	Charles Schwab
Australia (ASIC Authorised) info	Yes	No
Canada (CIRO Authorised) info	Yes	Yes
Hong Kong (SFC Authorised) info	Yes	Yes
Japan (SFC Authorised) info	Yes
Singapore (MAS Authorised) info	Yes	Yes
Switzerland (FINMA Authorised) info	Yes
United Kingdom (U.K.) (FCA Authorised) info	Yes	Yes
USA (CFTC Authorized) info	Yes	Yes
New Zealand (FMA Authorised) info	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	No

Tier-2 Licenses (Trusted)	Interactive Brokers	Charles Schwab
Kenya (CMA Authorised) info
Israel (ISA Authorised) info	No
South Africa (FSCA Authorised) info	No
UAE (DFSA, FSRA, or SCA Authorised) info	Yes
India (SEBI Authorised) info	Yes
Jordan (JSC Authorised) info

Investments	Interactive Brokers	Charles Schwab
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	40000
Forex Pairs (Total) info	90	73
U.S. Stocks (Shares) info	Yes	Yes
Global Stocks (Non-U.S. Shares) info	Yes	Yes
Copy Trading info	No	No
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	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	Interactive Brokers	Charles Schwab
Average spread (EUR/USD) - Standard account info	0.59 info	1.32 info
All-in Cost EUR/USD - Active info	0.65 info	1.32 info
Inactivity Fee info	No	No
Order execution: Agency info	Yes	Yes
Order execution: Market Maker info	No	No

Funding	Interactive Brokers	Charles Schwab
Minimum Deposit info	$0	$0
PayPal (Deposit/Withdraw) info	No	No
Skrill (Deposit/Withdraw) info	No	No
Bank Wire (Deposit/Withdraw) info	Yes	Yes
Non-wire bank transfer info	Yes	Yes

Trading Platforms	Interactive Brokers	Charles Schwab
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	No
MetaTrader 4 (MT4) info	No	No
MetaTrader 5 (MT5) info	No	No
cTrader info	No	No

Trading Tools	Interactive Brokers	Charles Schwab
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	155	374
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	Interactive Brokers	Charles Schwab
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	374
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	Interactive Brokers	Charles Schwab
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	No
Trading Central info	Yes	No
TipRanks info	Yes	No
Client sentiment data info	Yes	No
Economic Calendar info	Yes	Yes

Education	Interactive Brokers	Charles Schwab
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Major Forex Pairs	Interactive Brokers	Charles Schwab
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	Interactive Brokers Review	Charles Schwab Review

Overall	Interactive Brokers	Charles Schwab
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	Charles Schwab Review