Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Plus500, 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 is a well-established online broker that is also a publicly traded bank. In terms of regulation, Charles Schwab holds an impressive number of Tier-1 licenses, totaling five. This high level of licensing contributes to its perfect Trust Score rating of 99, as determined by ForexBrokers.com. With a solid foundation in the financial industry, Charles Schwab stands out as a highly trusted choice for investors.
Plus500, established in 2008, is another prominent online broker that is publicly traded but not a bank. It surpasses Charles Schwab in its regulatory footprint by holding six Tier-1 licenses and an additional three Tier-2 licenses. Like Charles Schwab, Plus500 also achieves a top Trust Score rating of 99, making it equally dependable for those interested in online trading. Both brokers offer a blend of trust and regulatory compliance, though with slightly different aspects and histories.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Year Founded | 1971 | 2008 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 6 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing the commissions and fees of online brokerages Charles Schwab and Plus500, there are several factors to consider for potential investors. Charles Schwab offers a no-minimum deposit barrier for its primary brokerage accounts, making it accessible for new forex traders. Traders can use the Schwab One account to trade forex via the thinkorswim platform. Schwab does not charge commissions on forex trading; instead, it generates costs through the bid/ask spread, with an average of 1.35 pips for the EUR/USD, which is on the higher end of the industry spectrum. Receiving a rating of 4 out of 5 stars for commissions and fees, Charles Schwab ranks 23rd among 63 brokers according to ForexBrokers.com.
Alternatively, Plus500's pricing structure reveals slightly higher-than-average costs, particularly in comparison to leading forex brokers like IG or Saxo. While Plus500 does not offer discounts to retail clients, it does offer cash rebates to those qualifying as Professional clients, similar to an active trader program. The spreads offered on the EUR/USD average around 1.5 pips, which is higher than the typical industry rate. Plus500 also earns a 4-out-of-5-star rating for its commission and fees and ranks 25th out of 63 brokers as reported by ForexBrokers.com.
Both Charles Schwab and Plus500 provide different investing approaches that cater to investor needs, but when it comes to fees and commissions, they stand relatively close, with each receiving a commendable 4-star rating. However, potential investors might find Schwab's accessibility and the lack of direct commission appealing, while Plus500's active trader program might entice frequent traders seeking rebates. Each platform has its unique offering, making them suitable options depending on individual trading preferences and strategies.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.5 |
| All-in Cost EUR/USD - Active | 1.35 | 1.5 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 Plus500 both offer a variety of investment opportunities, including forex trading through CFDs or spot contracts. However, Charles Schwab boasts a significantly larger selection of tradeable symbols, with 40,000 available compared to Plus500's 5,500. In terms of forex pairs, Charles Schwab slightly edges out Plus500, providing 73 pairs compared to Plus500's 65. Both brokers allow investors to purchase exchange-traded securities on U.S. and international exchanges, though neither offers copy trading or the ability to buy actual, delivered cryptocurrency. Instead, both platforms provide options to invest in cryptocurrency derivatives.
In terms of range of investments, Charles Schwab consistently secures a higher rating with five stars and ranks fifth among 63 brokers on ForexBrokers.com in this category. Plus500, while not far behind with a rating of 4.5 stars, ranks 24th. This comparison showcases Charles Schwab as the superior choice for investors seeking a more extensive range of investment options and a leading presence in the brokerage industry.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 5500 |
| Forex Pairs (Total) | 73 | 65 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
When comparing the online trading platforms of Charles Schwab and Plus500, each has its own strengths and limitations to consider. Both brokers provide proprietary platforms, meaning they develop their systems in-house, allowing for personalized user experiences. They also offer paper trading, a valuable feature for users to practice without financial risk. While Charles Schwab provides a Windows-based desktop trading platform, Plus500 is strictly web-based, potentially influencing your preferred manner to engage with the platform. Both brokers support trading directly from charts, however, this feature is exclusive to Schwab, reinforcing its diverse platform capabilities. Neither broker incorporates third-party systems like MetaTrader 4 or 5, DupliTrade, or ZuluTrade, which might be a factor for traders seeking these tools.
Charles Schwab excels in charting and customization, featuring 24 drawing tools and a remarkable 580 fields for watch lists, far surpassing Plus500's 36 drawing tools and 10 fields. These distinctions reflect Charles Schwab’s superior customization and analytical capabilities, underpinning its five-star rating for trading platforms and tools. In contrast, Plus500, while highly efficient and ranked reasonably well at #14, falls short of Schwab’s precision and flexibility, earning a still respectable 4.5 stars. The trading platforms category by ForexBrokers.com ranks Charles Schwab at an impressive #5 out of 63 brokers, emphasizing its powerful suite of tools and overall user experience.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 115 |
| Charting - Drawing Tools (Total) | 24 | 36 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 10 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and Plus500 both offer comprehensive mobile trading solutions that cater to traders using iPhone and Android devices. Users of both apps can receive price alerts for stocks and forex, synchronize watchlists seamlessly with their online accounts, and cater to various charting needs. Charles Schwab stands out by providing a substantial 374 technical studies for charting, compared to Plus500's 115, and allows for trendline drawing and saving these drawings automatically. Plus500 also offers trendline drawing but lacks the auto-save feature for drawings, requiring manual save efforts from the user.
Both applications offer the ability to view multiple time frames on charts and to create watchlists with real-time quotes. When rated for mobile trading applications, Charles Schwab scores a perfect 5 stars, outshining Plus500's commendable 4.5-star rating. In a broader comparison of 63 brokers by ForexBrokers.com, Charles Schwab achieves a higher placement, ranking 6th in the mobile trading apps category, while Plus500 holds the 14th position. Both broker apps are powerful tools for the modern trader, but Charles Schwab earns the edge with a wider array of charting features and a higher customer satisfaction rating.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 115 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Charles Schwab and Plus500 for market research offerings, both platforms provide essential tools, but with some differences in their features. Charles Schwab excels with daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, which are not available with Plus500. Both brokers offer an economic calendar to keep investors informed of global news, although Charles Schwab's research receives a higher rating of 5 stars, as opposed to Plus500's 4 stars. This reflects in their respective rankings on ForexBrokers.com, where Charles Schwab is ranked 4th among 63 brokers, significantly ahead of Plus500, which is ranked 19th.
Plus500 distinguishes itself by providing unique tools like a sentiment-based trading tool that displays ratios of long or short positions across currency pairs. It also offers technical analysis tools from Trading Central, which Charles Schwab does not provide. While neither broker integrates research tools from Autochartist, TipRanks, or Acuity Trading, these platforms cater to a range of research needs with their distinct strengths, allowing traders to find the broker that best suits their strategies and preferences.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| 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, both Charles Schwab and Plus500 offer a variety of materials that cater to novice investors. Both platforms provide more than 10 educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. In addition, they each host monthly online educational webinars and maintain extensive archives, which users can easily search through to access previously recorded sessions. For those new to trading, each broker also offers at least 10 videos specifically designed for beginners.
While both Charles Schwab and Plus500 present a solid array of advanced educational videos, Charles Schwab extends its learning avenues by offering an investor dictionary with over 50 investing terms, a feature not available with Plus500. This additional resource contributes to Charles Schwab's higher educational rating of 5 out of 5 stars, compared to Plus500's 4.0 stars. Furthermore, as per ForexBrokers.com, Charles Schwab is ranked 6th out of 63 brokers for education, whereas Plus500 is positioned at 31st, highlighting Schwab's stronger focus on providing comprehensive educational support for its clients.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| 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 Plus500. Charles Schwab finished with an overall rank of #6, while Plus500 finished with an overall rank of #14.
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
|
Plus500
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Charles Schwab and Plus500 allow investors to trade cryptocurrency derivatives rather than the actual cryptocurrency, as neither platform offers the option to purchase delivered cryptocurrency.
When comparing online brokers, Charles Schwab supports ACH and SEPA transfers along with bank wires for account funding, while Plus500 does not offer ACH or SEPA transfers but provides varied options like PayPal, Skrill, Visa, Mastercard, and also supports bank wire transfers for depositing or withdrawing funds.
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 | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Plus500 Review |
| Broker Screenshots | Charles Schwab | Plus500 | |
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| Regulation | Charles Schwab | Plus500 | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1971 | 2008 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 6 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Plus500 | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Plus500 | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Plus500 | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 5500 | |
| Forex Pairs (Total) | 73 | 65 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Charles Schwab | Plus500 | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.5 | |
| All-in Cost EUR/USD - Active | 1.35 | 1.5 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Plus500 | |
|---|---|---|---|
| Minimum Deposit | $0 | €100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| 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 | Plus500 | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Plus500 | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 10 | |
| Charting - Indicators / Studies (Total) | 374 | 115 | |
| Charting - Drawing Tools (Total) | 24 | 36 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | 115 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Plus500 | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Plus500 | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | Plus500 Review |
| Overall | Charles Schwab | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Plus500 Review |
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