Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs IronFX, 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.
Founded in 1971, Charles Schwab has established itself as a reputable online broker with a distinguished presence as a publicly traded company and a bank. Known for its strong regulatory credentials, Charles Schwab holds five Tier-1 licenses, demonstrating its commitment to trust and safety. These credentials are reflected in its exceptional Trust Score of 99 out of 99 from ForexBrokers.com, placing it in the highly trusted category.
Conversely, IronFX, founded in 2010, operates as a privately-held online brokerage. While not a bank or publicly listed entity, IronFX maintains regulatory oversight with three Tier-1 licenses. This ensures a reasonable degree of trust facilitated by their ForexBrokers.com Trust Score of 83, marking IronFX as a trusted option. However, the regulatory standing is not as extensive as Charles Schwab, offering different layers of assurances for potential investors.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Year Founded | 1971 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab charges no commissions for forex; your trading cost is the bid/ask spread. In October 2024, the average EUR/USD spread on thinkorswim was 1.35 pips, which sits on the higher side of the market. There’s no minimum deposit, but the smallest trade size is 10,000 units (about $500 minimum margin at 20:1). Trades, including forex, settle in U.S. dollars. If you use the Schwab Global account to trade in local currencies, currency conversion fees range from 0.2% to 1% based on your balance. Schwab’s overnight financing (carry) details are shown inside thinkorswim. Commissions and Fees rating: 4/5 stars; category rank: 26 out of 63.
IronFX’s pricing trends higher than the industry average. Its Standard variable account lists a typical 1.8-pip spread (no date range provided). The Zero fixed-spread account can start at 0.0 pips but adds a $18 per lot commission, and spreads widen to 3 pips overnight. Commissions and Fees rating: 4/5 stars; category rank: 47 out of 63.
In a head-to-head look at costs, Schwab offers spread-only, commission-free forex with USD settlement and clear financing info, while IronFX gives you a choice between a higher spread (Standard) or a commission-based model that can be tight during the day but widens overnight (Zero). Which is cheaper depends on your account type, trading times, and trade size.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.32 | 1.2 |
| All-in Cost EUR/USD - Active | 1.32 | N/A |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) [DELETED] | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and IronFX both let you trade forex as CFDs or spot, and both offer cryptocurrency derivatives (but not actual, delivered crypto). The biggest difference is breadth: Charles Schwab lists about 40,000 tradeable symbols and supports exchange-traded securities on U.S. and international exchanges. It also offers 73 forex pairs. IronFX focuses on a smaller lineup with roughly 340 symbols; it offers more forex pairs (83) and supports copy trading, but does not provide direct access to U.S. or international exchange-traded stocks.
For range of investments, ForexBrokers.com rates Charles Schwab at 5 stars (ranked #5 of 63) and IronFX at 3.5 stars (ranked #52 of 63). In short, choose Charles Schwab if you want a very wide selection that includes exchange-traded securities plus forex and crypto derivatives; pick IronFX if you prioritize forex pair variety and copy trading within a CFD-first setup.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 340 |
| Forex Pairs (Total) | 73 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
Comparing online brokers Charles Schwab and IronFX for trading platforms and tools: both offer free paper-trading demo accounts, web platforms, and Windows desktop software, plus the ability to place orders directly from charts. Schwab provides a proprietary, in-house platform, while IronFX does not; instead, IronFX supports MetaTrader 4 (MT4), which Schwab does not. Neither broker offers MetaTrader 5 (MT5). For social features, IronFX includes copy trading, whereas Schwab does not.
According to ForexBrokers.com’s Trading Platforms and Tools ratings, Charles Schwab earns 5/5 stars and ranks #5 out of 63 brokers, while IronFX scores 3.5/5 stars and ranks #62 out of 63. In short, choose Schwab if you want a well-built, in-house platform with chart trading across web and desktop plus a practice account; pick IronFX if you prefer MT4 and want copy trading along with a demo account.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and IronFX offer mobile trading apps for iPhone and Android, with price alerts and the ability to build watchlists with real-time quotes. A key difference is watchlist syncing: Schwab syncs symbols between the mobile app and your online account, so changes carry over automatically, while IronFX does not. If you want your lists to stay consistent across devices, Schwab makes that easier.
Charting is another separator. Schwab’s app includes 374 technical studies versus IronFX’s 30, and both apps let you draw trendlines and auto-save your drawings. Independent reviews back this up: ForexBrokers.com rates Schwab’s mobile app 5 stars and ranks it #6 out of 63 brokers, while IronFX earns 3.5 stars and ranks #63. In short, IronFX covers the basics for on-the-go trading, but Schwab offers deeper charting and smoother account integration.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | ||
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at Charles Schwab and IronFX, both brokers deliver the essentials: daily market commentary, real-time forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar with upcoming global events. In independent reviews, Charles Schwab earns 5 stars for Research and ranks #5 out of 63 brokers, while IronFX scores 4 stars and ranks #29, signaling stronger overall research depth at Schwab.
Feature-wise, neither broker includes Autochartist or a sentiment tool showing long/short positioning. IronFX stands out by offering Trading Central analytics, which can help with technical trading ideas—something Schwab does not provide. Charles Schwab does not offer TipRanks or Acuity Trading tools; for IronFX, availability of TipRanks and Acuity Trading is not specified. If you want the highest-rated, wide-ranging research experience, Charles Schwab is the safer pick; if Trading Central’s technical insights matter most, IronFX has an edge there.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Client sentiment data | No | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner trading education, Charles Schwab outperforms IronFX. Schwab earns 5 stars for Education and ranks #6 out of 63 brokers at ForexBrokers.com, while IronFX holds 4 stars and ranks #44. Both brokers offer at least 10 beginner-friendly videos, but only Schwab provides at least 10 advanced videos for experienced traders. Schwab also runs client webinars online at least once a month; IronFX does not offer monthly webinars.
Details about forex and CFD-specific education, searchable archives of recorded webinars, and investor dictionaries with 50+ terms were not specified for either broker. If you want regular live classes and a deeper library that grows with you, Schwab is the stronger choice. If you mainly want beginner video lessons, both brokers can help, but IronFX lags on advanced content and live events.
| Feature |
Charles Schwab
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | No |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) [DELETED] |
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 IronFX. Charles Schwab finished with an overall rank of #6, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both Charles Schwab and IronFX do not offer the ability to purchase actual delivered cryptocurrencies, but they both provide options to buy cryptocurrency derivatives.
Charles Schwab vs IronFX: both brokers offer bank wires, only Charles Schwab offers ACH/SEPA, only IronFX offers Skrill, neither supports PayPal, and Visa/Mastercard availability was 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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | IronFX | |
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| Broker Gallery (click to expand) |
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| Regulation | Charles Schwab | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1971 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 340 | |
| Forex Pairs (Total) | 73 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.32 | 1.2 | |
| All-in Cost EUR/USD - Active | 1.32 | N/A | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Charles Schwab | IronFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | IronFX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | Charles Schwab | IronFX | |
|---|---|---|---|
| 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 | Charles Schwab Review |
| Overall | Charles Schwab | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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