Interactive Brokers vs Charles Schwab 2026

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 (founded 1977) and Charles Schwab (founded 1971) are both publicly traded. Schwab operates as a bank, while Interactive Brokers does not. Each broker holds a 99/99 ForexBrokers.com Trust Score, which falls in the “highly trusted” range of 90–99.

Regulatory coverage differs: Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, while Charles Schwab holds 5 Tier-1 licenses and no Tier-2 licenses. Tier-1 licenses are considered highly trusted and Tier-2 trusted by ForexBrokers.com, signaling that both brokers are strongly regulated, with Interactive Brokers offering a broader set of approvals across top-tier authorities.

Feature	Interactive Brokers	Charles Schwab
Year Founded info	1977	1971
Publicly Traded (Listed) info	Yes	Yes
Bank info	No	Yes
Tier-1 Licenses info	8	5
Tier-2 Licenses info	2	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Fees

When it comes to commissions and fees, Interactive Brokers stands out with its competitive forex pricing, even though their average spreads aren't published publicly. In the third quarter of 2024, they offered an average spread of 0.19 pips for the EUR/USD pair, effectively becoming 0.59 pips after considering commission. Their pricing model relies on commissions per trade rather than marked-up spreads, offering a rate as low as $16 to $40 per million round turn. Active traders can benefit from reduced rates when trading volumes exceed certain thresholds, underscoring their focus on high-volume traders. Interactive Brokers ranks #2 out of 63 brokers in the Commissions and Fees category and is highly rated with 5 stars.

Charles Schwab, on the other hand, simplifies entry into forex trading by removing minimum deposit requirements for its main brokerage accounts. Offering two account types through the thinkorswim platform, Schwab focuses on spreads instead of commissions for forex trades. As of October 2024, the average spread for the EUR/USD pair was 1.35 pips, which is towards the higher end of the industry average. The Schwab Global account facilitates international trading in local currencies but requires conversion fees ranging from 0.2% to 1%. Despite the lack of commissions, the higher spread costs and fees might interest traders specifically focused on international markets. Charles Schwab is rated 4 stars and holds the #23 spot in the Commissions and Fees category.

In summary, Interactive Brokers offers low commission rates and valuable discounts for active traders, earning them a top-tier ranking and 5-star rating. Charles Schwab provides easy access to forex and international markets with commission-free trading, yet at the cost of higher spreads, reflected in their 4-star rating and #23 ranking. Both brokers cater to different kinds of traders, whether you are an active high-volume trader or interested in a broader range of international trading opportunities.

Feature	Interactive Brokers	Charles Schwab
Minimum Deposit info	$0	$0
Average spread (EUR/USD) - Standard account info	0.226 info	1.27 info
All-in Cost EUR/USD - Active info	0.226 info	1.27 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 and Charles Schwab both let you buy exchange-traded securities on U.S. and international markets (think Apple or Vodafone), and both support forex trading. Schwab lists about 40,000 tradeable symbols versus around 8,500 at Interactive Brokers. Currency traders get 90 forex pairs at Interactive Brokers and 73 at Schwab. Neither broker offers copy trading.

For crypto access, Interactive Brokers lets you buy actual cryptocurrency, while Schwab offers cryptocurrency via CFDs instead. Both earn 5 out of 5 stars for Range of Investments from ForexBrokers.com, yet Interactive Brokers is ranked #1 out of 63 brokers in this category and Charles Schwab ranks #5. Pick Schwab if you want a larger overall symbol list, or choose Interactive Brokers for more forex pairs and the ability to purchase real 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	No	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 vs Charles Schwab: both brokers deliver strong trading platforms and tools. Each offers a free paper trading account, an in-house platform, a Windows desktop platform, and a web platform. You can place trades directly from charts with either broker. Neither supports copy trading, and neither offers MetaTrader 4 or MetaTrader 5.

According to ForexBrokers.com, both earn 5 stars for Trading Platforms and Tools. In the 63-broker lineup, Interactive Brokers ranks #2 while Charles Schwab ranks #7. If platform depth and top-tier rankings matter most, Interactive Brokers has a slight edge; if you’re already in Schwab’s ecosystem, its platform lineup remains a high-rated choice.

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 mobile trading apps for iPhone and Android with key features traders expect: stock and forex price alerts, synced watchlists across mobile and web, and the ability to draw trendlines on charts. Each app earned 5 out of 5 stars for Mobile Trading Apps from ForexBrokers.com, making either a strong choice for on-the-go trading.

Charting depth is where they differ most. Interactive Brokers includes 155 technical studies, while Charles Schwab offers 374, and Schwab also auto-saves chart drawings (IB does not). In ForexBrokers.com’s Mobile Trading Apps rankings out of 63 brokers, Interactive Brokers placed #4 and Charles Schwab #6. In short: choose Schwab if you want more built-in indicators and auto-saved drawings, or pick Interactive Brokers for a highly rated experience with a slightly higher category ranking.

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	155	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 deliver strong education for beginners. Each offers at least 10 beginner-friendly trading videos, plus ongoing monthly webinars so you can keep learning in real time. As you progress, both brokers also provide 10+ advanced video lessons to help you move beyond the basics.

Details about whether either broker provides 10 or more dedicated forex/CFDs education pieces were not specified. That said, both earn 5 out of 5 stars for Education from ForexBrokers.com. Interactive Brokers holds the #1 Education ranking out of 63 brokers, while Charles Schwab ranks #6—making IB a slight favorite for learners who want the top-rated education experience, with Schwab close behind.

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
Trading Fees
Trading Platforms
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	Charles Schwab
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
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	8	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 (FSA 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 CMA 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	No	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	0.226 info	1.27 info
All-in Cost EUR/USD - Active info	0.226 info	1.27 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	155	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
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	99
Winner	check_circle
Review	Interactive Brokers Review	Charles Schwab Review