Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Markets.com, 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.
Charles Schwab, established in 1971, stands out as a highly trusted online broker with a remarkable ForexBrokers.com Trust Score of 99. As a publicly traded financial institution, Charles Schwab holds five Tier-1 licenses, a testament to its status as a reliable bank and brokerage firm. This firm has set a high standard in the online trading industry, emphasizing transparency and trust. In contrast, Markets.com, founded in 1999, operates as a private entity and does not function as a bank. While it holds three Tier-1 licenses and one Tier-2 license, which indicates a strong trust level, its ForexBrokers.com Trust Score is slightly lower at 93.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Year Founded | 1971 | 1999 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and Markets.com both offer platforms for forex trading, but their commissions and fees are distinct. Charles Schwab stands out by not requiring a minimum deposit for its primary brokerage accounts, such as the Schwab One and Schwab Global, both of which support forex trading through the thinkorswim platform. Schwab doesn't charge commissions on forex trades; instead, traders encounter costs through bid/ask spreads, with the average spread on the EUR/USD typically around 1.35 pips. Although this is slightly above the industry norm, Schwab provides an overnight carry charges calculator within the thinkorswim platform to help traders estimate their costs. Schwab's service is highly regarded, earning it a 4-star rating and a #23 ranking among 63 brokers for commissions and fees by ForexBrokers.com.
In contrast, Markets.com’s commission and fee structure isn't as transparent, with no available data on average spreads. While this makes it challenging to directly compare trading costs with Schwab, Markets.com provides an alternative option for traders looking for a different platform experience. However, Markets.com holds a slightly lower 3.5-star rating and ranks #50 in commissions and fees, indicating it may not be as competitive in this specific category.
For traders, the choice between Charles Schwab and Markets.com might depend on the value of transparent pricing versus seeking alternative platform features. Schwab's lack of trading commissions and informative cost tools make it an appealing choice for many, despite its slightly higher spreads. Markets.com, while less detailed in its fee disclosure, could suit those searching for a varied trading environment but may not be as cost-effective.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and Markets.com both offer appealing options for investors looking to trade forex, as each provides access to forex trading through CFDs or spot contracts. Charles Schwab, however, boasts a more extensive offering with 40,000 tradeable symbols compared to Markets.com's 2,179. When it comes to forex pairs, Schwab again leads with 73 pairs available, overshadowing Markets.com's 57. Additionally, Charles Schwab allows clients to buy exchange-traded securities on both U.S. and international exchanges, encompassing well-known stocks like Apple and Vodafone. In contrast, Markets.com does not offer direct access to U.S. or international exchange-traded securities. Both platforms give users the opportunity to engage with cryptocurrency derivatives without actual delivery, but neither provides the means to purchase cryptocurrencies outright.
Markets.com offers copy trading, a feature not available with Charles Schwab, which may appeal to some investors looking for a social trading element. However, for those prioritizing a wider range of investments, Schwab receives a 5-star rating and ranks 5th out of 63 brokers for their investment offerings, highlighting its diverse selection. Meanwhile, Markets.com earns a respectable 4-star rating for the range of investments and is ranked 29th in the same category by ForexBrokers.com. Schwab's broader investment range may better serve seasoned investors seeking diverse opportunities, whereas Markets.com attracts those interested in copy trading and moderately diverse investment options.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2179 |
| Forex Pairs (Total) | 73 | 57 |
| 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.
Charles Schwab and Markets.com both offer a strong range of trading platforms and tools designed to cater to various investor needs. Both platforms provide simulated trading options with free virtual demo accounts, and each has developed proprietary platforms for their users. Steveeking convenience, both Schwab and Markets.com offer trading platforms accessible via desktop download for Windows and through web-based browsers. However, if you're interested in copy trading or using MetaTrader platforms (MT4 and MT5), Markets.com stands out by offering these services, while Schwab does not.
When delving into features for technical traders or those focused on stock chart integration, Charles Schwab holds a unique edge. Schwab provides the ability to trade directly from stock charts along with 24 drawing tools, surpassing Markets.com's offering of only four. In terms of monitoring stock movements, Schwab accommodates with an impressive 580 columns for watch lists compared to Markets.com's six. These strengths are echoed in user ratings and industry rankings, with Charles Schwab receiving a 5-star rating and ranking fifth out of 63 brokers. Comparatively, Markets.com holds a 4-star rating and ranks 27th, reflecting its robust feature set but indicating room for enhancement.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 89 |
| Charting - Drawing Tools (Total) | 24 | 4 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading, both Charles Schwab and Markets.com offer apps for iPhone and Android users, featuring stock and forex price alerts and watchlist syncing. However, Charles Schwab takes a lead with its extensive charting capabilities providing 374 technical studies, while Markets.com primarily relies on default settings within the MT4 platform, offering fewer options on its native app. Both platforms allow drawing trendlines, but Charles Schwab's app further distinguishes itself with multi-timeframe chart views and the auto-saving of chart drawings, which Markets.com lacks.
Creating watchlists with real-time quotes is a feature both apps provide, but the overall user experience differs in terms of rankings and ratings. Charles Schwab scores a perfect five stars for its mobile trading app and holds the #6 spot among 63 brokers according to ForexBrokers.com, showcasing its excellence and user satisfaction. In contrast, Markets.com, rated four stars, stands at the #33 position, reflecting a notable difference in performance and features when compared to Charles Schwab's more comprehensive app experience.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | (default on MT4, none on Markets app) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, Charles Schwab and Markets.com both provide daily market commentary, offering insights to help investors stay informed about the latest market trends. Both platforms feature forex news from top-tier sources like Bloomberg and Reuters, ensuring access to reliable information. However, neither broker integrates technical analysis or fundamental research tools from companies like Autochartist or Trading Central. Additionally, market research from TipRanks and tools from Acuity Trading are missing from both services. While Markets.com offers a unique sentiment-based trading tool that displays ratios of long and short positions across different instruments, Charles Schwab does not provide this feature.
In terms of broader research offerings, both Charles Schwab and Markets.com include an economic calendar displaying upcoming global news events, allowing users to plan their trading strategies effectively. Despite these similarities, Charles Schwab takes the lead with a perfect five-star research rating and ranks fourth out of 63 brokers on ForexBrokers.com. Meanwhile, Markets.com holds a four-star rating and is ranked 17th in the same category. These distinctions highlight the slight edge Charles Schwab has in providing comprehensive research capabilities for traders.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners in online trading, Charles Schwab clearly stands out compared to Markets.com. Charles Schwab offers a wide array of educational materials, including over ten pieces focused specifically on forex and CFDs, providing valuable knowledge for traders looking to delve into these areas. Additionally, Schwab hosts regular online educational webinars and provides access to an archive of previously recorded sessions, ensuring beginners have continuous learning opportunities. Notably, Charles Schwab also features a comprehensive investor dictionary with definitions of over 50 investing terms, helping novices familiarize themselves with essential trading language.
Markets.com, while offering some educational resources, falls short in a few key areas. Although it provides online webinars and foundational video content for beginners, its lack of focus on forex and CFDs education may not fully support traders interested in these specific markets. Moreover, the absence of a searchable archive of past webinars and an investor dictionary can limit the depth of learning available to users. With an education rating of 4 stars from ForexBrokers.com and a rank of #34 out of 63 brokers, Markets.com shows that while it is reliable, beginners might find more comprehensive resources with Charles Schwab, which boasts a 5-star education rating and occupies the #6 ranking in the education category.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
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 Markets.com. Charles Schwab finished with an overall rank of #6, while Markets.com finished with an overall rank of #23.
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
|
Markets.com
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 93 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Charles Schwab and Markets.com do not provide the option to buy actual (delivered) cryptocurrency, but they both offer the capability to trade in cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers, Charles Schwab supports ACH, SEPA, and bank wire transfers but doesn't offer PayPal, Skrill, or credit card options, whereas Markets.com does not support ACH or SEPA but facilitates transactions via Skrill, Visa, Mastercard, and bank wires.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | Markets.com | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | Markets.com | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Charles Schwab | Markets.com | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1971 | 1999 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Markets.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Markets.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Markets.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 2179 | |
| Forex Pairs (Total) | 73 | 57 | |
| 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 | Markets.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Markets.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | Markets.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Markets.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 89 | |
| Charting - Drawing Tools (Total) | 24 | 4 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Markets.com | |
|---|---|---|---|
| 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 | 374 | (default on MT4, none on Markets app) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Markets.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Markets.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | Markets.com | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | No | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review |
| Overall | Charles Schwab | Markets.com | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill