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.
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, 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 out of 5 stars for commissions and fees; Schwab ranks #23 of 63, and Octa ranks #26 of 63 (ForexBrokers.com). Schwab charges no commission on forex—your cost is the bid/ask spread—while Octa’s pricing depends on your account type and the entity that regulates it. Octa emphasizes tighter spreads and no overnight carry charges, while Schwab lets you preview overnight costs in the thinkorswim platform.
At Schwab, forex trading runs through a Schwab One account with thinkorswim, and all trades settle in U.S. dollars. The smallest trade size is 10,000 units (about $500 minimum margin at 20:1 leverage). In October 2024, Schwab’s average EUR/USD spread was 1.35 pips, which is on the higher side. If you use the Schwab Global account to trade in local currencies, expect currency conversion fees of roughly 0.2%–1%, depending on your balance.
Octa’s costs vary by region: its EU entity lists an average 0.5‑pip spread on EUR/USD, while foreign entities list about 0.9 pips (no date range provided for these figures). Octa reports no slippage on 97.5% of orders and no overnight carry costs, though rules are in place that can limit high‑frequency trading. Account availability also differs by region (EU: MT5 only; abroad: MT4, MT5, and OctaTrader), which can influence your final pricing.
| Feature |
Charles Schwab
|
Octa
|
|---|---|---|
| Minimum Deposit | $0 | $25 |
| Average spread (EUR/USD) - Standard account | 1.27 | 0.9 |
| All-in Cost EUR/USD - Active | 1.27 | 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.
Comparing Charles Schwab vs Octa for range of investments, both brokers let you trade forex as CFDs or spot. The big difference is depth: Schwab lists about 40,000 tradeable symbols and 73 forex pairs, while Octa offers roughly 300 symbols and 35 pairs. Schwab also lets you buy exchange-traded U.S. stocks like Apple, plus shares on international exchanges; Octa does not support U.S. share dealing but does offer access to some international exchanges. Copy trading is available at Octa but not at Schwab. Neither broker sells actual (delivered) cryptocurrency, though both provide cryptocurrency CFDs.
On range alone, Charles Schwab earns 5 stars and ranks #5 out of 63 brokers at ForexBrokers.com, while Octa scores 3.5 stars and ranks #33. Choose Schwab if you want very broad market access, including U.S. and international share dealing alongside forex and crypto CFDs. Pick Octa if you mainly trade forex and want built-in copy trading with a simpler lineup of markets.
| 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 traders who want flexible, modern platforms. Each broker offers a free paper trading account, an in-house trading platform, a Windows desktop app, a web-based platform, and the ability to place orders straight from charts. These similarities make either option workable for learning, testing ideas, and trading from multiple devices.
The biggest differences show up in tools and ratings. Octa supports copy trading and also offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular with forex traders and those who use custom indicators or automated strategies. Charles Schwab does not offer copy trading or MT4/MT5, but it earns higher platform scores: 5 stars for Trading Platforms and Tools and a #7 rank out of 63 brokers, compared with Octa’s 4 stars and #30 rank (per ForexBrokers.com). Choose Schwab if top-rated, in-house tools are your priority; pick Octa if you want MT4/MT5 access 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, along with stock and forex price alerts. A key difference is watchlist syncing: Schwab syncs your watchlists across mobile and web, while Octa does not. In user ratings, Schwab earns 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps (per ForexBrokers.com), whereas Octa scores 4 stars and ranks #29.
If charting depth matters, Schwab stands out with 374 technical studies compared to Octa’s 30. Both apps let you draw trendlines and automatically save your chart drawings. Overall, Schwab is better for traders who want advanced analysis and seamless account syncing, while Octa covers the essentials for traders who need alerts and straightforward charting on the go.
| 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.
Charles Schwab and Octa both cover the basics of market research very well: each offers daily market commentary, top-tier forex news from sources like Bloomberg and Reuters, and an economic calendar to track upcoming events. According to ForexBrokers.com, Schwab holds a 5-star Research rating and ranks #5 out of 63 brokers, while Octa earns 4 stars and ranks #24. If you want highly rated, all-around research with trusted news and regular insights, Schwab comes out ahead.
The main tool difference is Autochartist: Octa includes Autochartist-driven analysis, while Charles Schwab does not. Neither broker offers Trading Central tools, a sentiment ratio tool, TipRanks research, or Acuity Trading services. In short, choose Schwab for stronger overall research standing, or pick Octa if Autochartist screening is important to your workflow—both still deliver daily commentary, quality news, and an event calendar.
| 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.
New traders will find helpful learning support at both Charles Schwab and Octa. Each runs online client webinars at least once a month and offers 10 or more beginner-friendly videos that explain trading basics. As you progress, both also provide at least 10 advanced videos for more experienced topics. The information provided did not specify whether either broker has 10 or more education pieces focused specifically on forex or CFDs.
In third-party reviews, Charles Schwab earns a higher mark for education: 5 stars and 6th place out of 63 brokers on ForexBrokers.com, compared with Octa’s 4 stars and 32nd place. If you want a higher-rated learning experience, Schwab stands out; if you simply need regular webinars and a solid video lineup to get started, Octa still covers the essentials.
| 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 #34.
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
|
|---|---|---|
| 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 (FSA 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 | 1.27 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.27 | 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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