Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs RoboForex, 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 as a highly trusted financial figure in the online brokerage space. As a publicly traded company and a bank, it boasts the highest possible Trust Score of 99 according to ForexBrokers.com. This rating reflects its formidable security and reliability standards. Charles Schwab holds five Tier-1 licenses, which are considered the gold standard for trust and legality in the financial industry.
On the other hand, RoboForex, founded in 2009, is not publicly listed and does not operate as a bank. With a Trust Score of 73, it falls into the average risk category according to ForexBrokers.com. While RoboForex holds only one Tier-1 license, it maintains its standing as a viable platform for users who might prioritize different features over the assurance of a top-tier regulatory framework. These details help distinguish the two platforms, offering potential investors a clear picture of their options.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When it comes to forex trading, Charles Schwab and RoboForex differ significantly in their commissions and fees structures. Charles Schwab's brokerage options provide a relatively low barrier to entry, with no minimum deposit requirements for its primary account types. Schwab offers two main accounts for forex trading: Schwab One and Schwab Global. The Schwab One account allows forex trading with trades settled in U.S. dollars, but has a minimum trade size of 10,000 units, requiring a $500 margin. For those interested in international markets, the Schwab Global account offers access to twelve markets, with currency conversion fees ranging from 0.2% to 1%. Schwab does not charge commissions for forex trading, but costs are instead based on the bid/ask spread, with an average spread of 1.35 pips for EUR/USD. Schwab provides a useful calculator for estimating overnight carry charges on the thinkorswim platform.
RoboForex, on the other hand, presents a different setup with its Procent and Pro accounts, where the average spreads for EUR/USD are around 1.3 pips. This is slightly lower than Schwab's spread but still considered high compared to broader industry standards. RoboForex does not offer commission-free trading, which could be a factor for those considering overall trading costs.
In terms of ratings and rankings, Charles Schwab scores higher with four stars out of five for commissions and fees, ranking 23rd among 63 brokers evaluated by ForexBrokers.com. RoboForex, while competitive, receives a 3.5-star rating and is positioned at 55th in the same category. These ratings highlight the nuanced differences in cost efficiency between the two brokers, with Charles Schwab leading in terms of overall value according to industry assessments.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.3 |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| 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 RoboForex both provide substantial investment opportunities, but with notable differences. Charles Schwab opens the door to an extensive array of 40,000 tradeable symbols, including 73 forex pairs, and allows clients to purchase exchange-traded securities from both U.S. and international markets. In contrast, RoboForex offers a smaller selection of 8,400 tradeable symbols and 28 forex pairs, with a focus on CFDs rather than direct investment in U.S. or international exchange-traded securities. While neither broker supports the purchase of actual cryptocurrencies, they both offer cryptocurrency derivatives. Moreover, RoboForex stands out with its copy trading feature, allowing investors to mimic the trades of successful traders, a service not provided by Charles Schwab.
Review ratings further highlight these differences. Charles Schwab achieves a top rating of 5 stars for its range of investments, ranking 5th among 63 brokers on ForexBrokers.com. Meanwhile, RoboForex earns a respectable 4.5 stars, positioned at 20th place on the same list. These ratings reflect Charles Schwab's broader assortment of investment options compared to RoboForex's more focused offerings. Ultimately, your choice between these brokers should consider whether you prioritize a wider range of direct investments or favor features like copy trading in a CFD-focused environment.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 8400 |
| Forex Pairs (Total) | 73 | 28 |
| 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.
When comparing the trading platforms and tools of Charles Schwab and RoboForex, both brokers offer a variety of features catering to different types of investors. Charles Schwab provides users with access to a proprietary, in-house developed platform that includes a Windows-based desktop application and a web-based platform. Alongside these, Charles Schwab offers a simulated trading environment allowing traders to experiment with virtual demo accounts. RoboForex, on the other hand, supports well-known platforms like MetaTrader 4 and 5, although it lacks a proprietary platform. Both brokers offer the ability to trade directly from stock charts, but RoboForex stands out for traders interested in copy trading, a feature Charles Schwab does not provide.
Charting tools and watch list capabilities further distinguish these two brokers. Charles Schwab offers more drawing tools, totaling 24, compared to RoboForex’s 15. This is complemented by Schwab's capacity to display an impressive 580 fields in watch lists, vastly more than RoboForex's seven. Both brokers shine in their respective ratings, with Charles Schwab earning a top-tier score of five stars and RoboForex gaining four stars for their trading platforms and tools, according to ForexBrokers.com. Notably, Schwab ranks fifth among 63 brokers in this category, while RoboForex holds the 43rd position. This difference underscores Schwab’s ability to cater to more experienced investors demanding comprehensive features.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and RoboForex offer user-friendly trading apps for iPhone and Android devices. Both platforms support price alerts and allow users to draw trendlines and view multiple time frames on stock or forex charts. However, a major point of distinction is that Charles Schwab offers watchlist symbol syncing with a client's online account, ensuring a seamless experience whether you're trading on mobile or desktop, whereas RoboForex does not have this feature. When it comes to technical studies for charting, Charles Schwab surpasses RoboForex with 374 technical studies available in its app, compared to RoboForex's 30.
In terms of overall user experience, both apps allow for creating watchlists with real-time quotes and saving chart drawings automatically. Charles Schwab’s mobile trading app stands out with a five-star rating, boasting a rank of #6 out of 63 brokers according to ForexBrokers.com. Meanwhile, RoboForex, while still a competent choice with a four-star rating, sits lower on the ranking scale at #43. This illustrates a broader range of tools and more integrated user features in Charles Schwab's app, making it a more appealing choice for those seeking comprehensive mobile trading solutions.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and RoboForex provide investors with daily market commentary, along with forex news sourced from top-tier providers like Bloomberg and Reuters. While neither broker incorporates tools from Autochartist, RoboForex sets itself apart by offering technical analysis tools from Trading Central. Additionally, RoboForex integrates research tools from Acuity Trading, providing users with access to features like the Signal Centre, which Charles Schwab does not offer. However, both brokers ensure their clients stay informed with comprehensive economic calendars highlighting global news events.
In terms of market research ratings, Charles Schwab leads with a commendable five-star rating, securing the #4 spot out of 63 brokers on ForexBrokers.com. In contrast, RoboForex holds a 3.5-star rating, placing it at #37. Despite RoboForex's additional research features like Trading Central tools, Charles Schwab’s high ranking indicates a more recognized and commendable research offering in the industry. Both brokers have unique strengths, but for top-tier market research, Charles Schwab is rated more favorably.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Charles Schwab stands out as a comprehensive provider of learning tools. Schwab offers extensive content on forex and CFDs, including a wide array of articles, videos, and archived webinars dedicated to these topics. Additionally, they host regular online educational webinars and have made recordings available for easy access. With over ten beginner-focused educational videos and a detailed investor dictionary that explains more than 50 investing terms, Schwab ensures that new traders have a robust foundation. Their educational initiatives have earned them a top-tier rating of five stars and a notable 6th place out of 63 brokers according to ForexBrokers.com.
In contrast, RoboForex's educational offerings fall short in several key areas. While they provide some educational resources, they do not meet the minimum threshold for comprehensive forex or CFDs education. The platform lacks regular monthly webinars and does not offer a searchable archive of past webinars. RoboForex also has fewer beginner-targeted educational videos and does not provide an investor dictionary with ample trading terms. These limitations reflect in their education rating of 3.5 stars and a lower ranking of 56th by ForexBrokers.com. These factors indicate that while RoboForex provides a basic level of educational content, it does not match the breadth and depth found with Charles Schwab.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 RoboForex. Charles Schwab finished with an overall rank of #6, while RoboForex finished with an overall rank of #46.
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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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 73 |
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Both Charles Schwab and RoboForex do not offer the ability to purchase actual (delivered) cryptocurrency, but they do provide options to buy cryptocurrency derivatives.
When comparing online brokers, Charles Schwab and RoboForex both support ACH and SEPA transfers as well as bank wires for deposits and withdrawals, but RoboForex stands out by additionally providing options for PayPal, Skrill, and Visa or Mastercard, none of which are available with Charles Schwab.
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 | RoboForex | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | RoboForex Review |
| Broker Screenshots | Charles Schwab | RoboForex | |
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| Regulation | Charles Schwab | RoboForex | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1971 | 2009 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 8400 | |
| Forex Pairs (Total) | 73 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | Charles Schwab | RoboForex | |
|---|---|---|---|
| Proprietary 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | RoboForex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | RoboForex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | RoboForex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | Charles Schwab | RoboForex | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | RoboForex Review |
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