Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Octa, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Charles Schwab, founded in 1971, stands out as a highly trusted online broker, with a top Trust Score rating of 99 according to ForexBrokers.com. As a publicly traded bank, Charles Schwab holds five Tier-1 regulatory licenses, which are considered to be of the highest trust. This robust regulatory standing ensures a secure trading environment for its users, making it a preferred choice for those seeking a reliable financial partner.
In contrast, Octa, established in 2011, brings a different profile to the table. While it is not publicly traded or a bank, Octa holds a Trust Score of 72, indicating average risk. Additionally, Octa is regulated with one Tier-1 license and one Tier-2 license, which aligns it within the average trusted category. This may appeal to traders looking for varied trading experiences with moderate risk in global markets.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Year Founded | 1971 | 2011 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and Octa both earn 4/5 stars for commissions and fees, though their pricing models differ in practice. Schwab is ranked #26 out of 63 brokers by ForexBrokers.com for this category, while Octa ranks #30 out of 63. Schwab charges no commission on forex; your cost is the bid/ask spread. Octa has sharpened its pricing and advertises very competitive spreads that depend on your account’s regulating entity, plus it waives overnight carry costs, though it places some limits that can affect high‑frequency trading.
At Schwab, there’s no minimum deposit for its main brokerage accounts, and forex trading is available through the thinkorswim platform via a Schwab One account. All trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that implies about $500 in margin. Schwab’s trading costs come from the spread; its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side. If you use the Schwab Global account to trade in local currencies, expect currency conversion fees that range from 0.2% to 1% depending on your balance; the thinkorswim platform also shows overnight carry charges so you can estimate holding costs.
Octa’s fees vary by account type and the entity that regulates your account. In the EU, Octa lists an average EUR/USD spread of 0.5 pips; for its foreign entities, it lists 0.9 pips. Octa does not provide a date range for these averages, which makes direct comparisons harder, but its pricing now competes with many low‑cost MetaTrader brokers. A notable perk is no overnight carry costs, and Octa reports no slippage on 97.5% of orders; however, certain rules may limit very fast, high‑frequency strategies. Overall: Schwab (4/5 stars; #26/63) suits traders who want commission‑free forex with USD settlement and clear financing estimates, while Octa (4/5 stars; #30/63) appeals to spread‑focused traders—especially in the EU—who value swap‑free holding costs.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average spread (EUR/USD) - Standard account | 1.32 | 0.9 |
| All-in Cost EUR/USD - Active | 1.32 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab vs. Octa: For sheer choice, Charles Schwab provides about 40,000 tradeable symbols compared with Octa’s 300. Both support forex trading (CFD or spot), but Schwab lists 73 currency pairs while Octa offers 35. Stock access is different: Schwab lets you buy U.S.-listed shares and international exchange-traded securities directly, whereas Octa does not offer U.S. stocks but does provide access to some international exchange-traded securities. Both brokers support crypto via CFDs, not actual coins.
Feature extras also diverge: Octa offers copy trading; Schwab does not. In independent testing for Range of Investments, ForexBrokers.com rates Schwab at 5 stars (ranked #5 of 63) and Octa at 3.5 stars (ranked #53 of 63). Choose Schwab if you want the biggest selection and U.S. stocks, or Octa if you’re focused on forex and want copy trading.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 300 |
| Forex Pairs (Total) | 73 | 35 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 Octa both check key boxes for trading platforms and tools: each offers a free paper trading demo, an in-house (proprietary) platform, a Windows desktop platform, a web-based platform, and the ability to place trades directly from charts. These basics make it easy to practice, log in from almost any computer, and act quickly from a price chart. Specific counts for built-in technical indicators and watchlist columns weren’t provided.
Where they differ: Octa supports copy trading and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Charles Schwab does not. If you want the MetaTrader ecosystem or social/copy features, Octa has the edge. For overall platform quality, ForexBrokers.com rates Charles Schwab at 5 stars and ranks it #5 out of 63 brokers for Trading Platforms and Tools; Octa earns 4 stars and ranks #38. In short, Schwab shines for its highly rated in-house experience, while Octa appeals to traders who prefer MT4/MT5 and copy trading.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and Octa both offer mobile trading apps for iPhone and Android, with price alerts, chart trendline drawing, and auto‑saved chart annotations. The key difference is watchlists: Schwab syncs symbols between the mobile app and the online platform, so changes carry over automatically, while Octa does not offer watchlist syncing.
For charting depth, Schwab provides 374 technical studies compared to Octa’s 30, giving more tools for traders who rely on indicators. Independent ratings reflect this gap: Schwab’s mobile app is rated 5 out of 5 stars and ranks #6 out of 63 brokers on ForexBrokers.com, while Octa earns 4 out of 5 stars and ranks #37. If you want extensive analysis features and seamless watchlists, Schwab stands out; if you prefer simpler on-the-go trading, Octa covers the basics.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing Charles Schwab and Octa for market research, both brokers provide daily market commentary, premium forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar to track upcoming events. The standout difference: Octa includes Autochartist technical analysis tools, while Charles Schwab does not. Neither broker offers Trading Central, sentiment-based positioning tools, TipRanks, or research from Acuity Trading.
Based on ForexBrokers.com, Charles Schwab earns 5 stars for Research and ranks #5 out of 63 brokers, while Octa earns 4 stars and ranks #27. Choose Schwab if you want top-rated research and broad coverage; pick Octa if having Autochartist built in alongside daily commentary and high-quality news is a priority.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | No | No |
| Client sentiment data | No | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Charles Schwab and Octa both offer beginner-friendly learning, including online client webinars at least once a month and a large library of trading videos. Each broker provides 10 or more beginner videos to help you learn the basics, plus 10 or more advanced videos for when you’re ready to go deeper. If you’re specifically looking for forex or CFD-focused lessons, the information here doesn’t confirm whether either firm has 10+ dedicated pieces on those topics; consider checking their education hubs for the latest forex and CFD materials.
For overall education quality, ForexBrokers.com rates Charles Schwab at 5 out of 5 stars and ranks it #6 out of 63 brokers, while Octa earns 4 out of 5 stars and ranks #42 out of 63. That makes Schwab the stronger pick for most beginners who want a highly rated learning experience, though Octa still delivers regular webinars and plenty of starter videos to build your trading skills.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
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 Octa. Charles Schwab finished with an overall rank of #6, while Octa finished with an overall rank of #47.
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
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Octa
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 72 |
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In the Charles Schwab vs Octa comparison, neither online broker lets you buy actual, delivered cryptocurrency, but both offer trading via cryptocurrency CFDs.
Comparing online brokers Charles Schwab vs Octa for deposit and withdrawal methods: Schwab supports ACH/SEPA and bank wire transfers, Octa supports Skrill and bank wires but not ACH/SEPA, neither supports PayPal, and Visa/Mastercard availability is 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 | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Octa Review |
| Broker Screenshots | Charles Schwab | Octa | |
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| Regulation | Charles Schwab | Octa | |
|---|---|---|---|
| Trust Score | 99 | 72 | |
| Year Founded | 1971 | 2011 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| 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 | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 300 | |
| Forex Pairs (Total) | 73 | 35 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | Octa | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.32 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.32 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Octa | |
|---|---|---|---|
| Minimum Deposit | $0 | $25 | |
| 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 | Octa | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | Octa | |
|---|---|---|---|
| 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 | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - 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 | Octa | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Octa | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Octa | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Charles Schwab Review | Octa Review |
| Overall | Charles Schwab | Octa | |
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| Trust Score | 99 | 72 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Octa Review |
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