Written by ForexBrokers.com
In this head to head comparison of Saxo vs Charles Schwab, 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.
Saxo and Charles Schwab are both well-established online brokers with strong regulatory foundations. Founded in 1992, Saxo is a trusted online trading platform that operates under 7 Tier-1 licenses and 1 Tier-2 license, ensuring it meets high global standards. Charles Schwab, founded in 1971, is a publicly traded company on the stock exchange with 5 Tier-1 licenses, reflecting its widespread recognition and adherence to strict regulatory practices. Both companies are banks, further enhancing their credibility and stability in the financial sector.
According to ForexBrokers.com, both Saxo and Charles Schwab earn a perfect Trust Score of 99 out of 99, placing them in the highly trusted category. This rating assures users of their strong regulatory compliance and reliable investment environments. While Saxo is not publicly traded, both brokers offer secure, bank-level service quality, underpinned by their comprehensive range of licenses and long-standing industry presence.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1992 | 1971 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Comparing commissions and fees, both Saxo and Charles Schwab are commission-free for forex; you pay the spread. Saxo earns a 5-star rating (ranked #8 of 63 for Commissions and Fees), while Schwab earns 4 stars (ranked #23 of 63). On EUR/USD, Saxo’s average spreads as of November 2023 were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP), with minimums about 0.2 pips tighter. Schwab’s average EUR/USD spread in October 2024 was 1.35 pips, which sits on the higher side of the industry range.
Saxo’s pricing becomes more competitive as you move up tiers. The Classic account has a $0 minimum deposit, while Platinum requires $200,000 (AUD 300,000 in Australia), and VIP requires $1,000,000 or qualification via trading volume; heavy trading can unlock upgrades (e.g., ~$40M in forex volume for Platinum or ~$167M for VIP, valid for a year). Saxo is spread-only for forex, but low-activity traders under 50,000 units per month pay a $3-per-side ticket fee. Schwab has no minimum deposit for its Schwab One account, settles forex trades in U.S. dollars, and sets a smallest trade size of 10,000 units (about $500 margin at 20:1 leverage) on thinkorswim.
For multi-currency investing, Schwab Global offers access to 12 international markets in local currencies, with conversion fees of about 0.2%–1% depending on balance size (placing local-currency orders from a Schwab One account typically requires a phone call). Schwab also provides an in-platform overnight carry calculator. Saxo waives custody fees for share trading if you opt into securities lending, and its higher tiers can deliver very competitive forex costs for active or high-volume traders, while the Classic tier is slightly above the industry average.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.0 | 1.27 |
| All-in Cost EUR/USD - Active | 0.8 | 1.27 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo and Charles Schwab both deliver a wide range of investments. Each lets you trade forex either as CFDs or spot contracts, buy exchange-traded securities on U.S. markets like Apple, and access international exchanges for global stocks such as Vodafone. Neither offers copy trading or direct, delivered cryptocurrency, but both provide exposure to digital assets through cryptocurrency CFDs.
If you want sheer variety, Saxo lists about 71,000 tradeable symbols and 190 forex pairs, while Charles Schwab offers around 40,000 symbols and 73 forex pairs. Both earn 5 stars for Range of Investments, with Saxo ranked #3 and Charles Schwab #5 out of 63 brokers by ForexBrokers.com. Put simply, Saxo leans toward greater market breadth, while Schwab still covers a very wide lineup across core markets.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 40000 |
| Forex Pairs (Total) | 190 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| 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.
Saxo and Charles Schwab both deliver strong trading platforms and tools for everyday investors and active traders alike. Each broker offers a free paper trading (demo) account, an in-house proprietary platform, a Windows desktop download, and a web-based platform. You can place trades directly from charts with either broker. Copy trading isn’t available at Saxo or Schwab, and neither supports MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
Both brokers earn 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s rankings, Saxo is placed higher at #3 out of 63 brokers, while Charles Schwab comes in at #7. If platform ranking matters to you, Saxo has the edge; if you prefer Schwab’s broader ecosystem, you still get a top-rated platform experience.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 61 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Charles Schwab both deliver feature-packed mobile trading apps for iPhone and Android. Each app supports price alerts, synced watchlists between mobile and the web, and handy chart tools like trendline drawing with auto-saved annotations. Both firms earn a 5-star rating for their mobile trading experience, making them strong choices for investors who want reliable, on-the-go trading.
If charting depth is your priority, Schwab offers a wider library of technical studies (374) compared with Saxo’s 64. That said, both apps cover core indicators and drawing tools most traders use daily. According to ForexBrokers.com’s Mobile Trading Apps rankings out of 63 brokers, Saxo places #3 while Charles Schwab ranks #6. In short, Schwab shines for sheer indicator count, while Saxo edges ahead in overall ranking—either way, you’re getting a top-tier mobile platform.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Saxo and Charles Schwab both deliver daily market commentary, top-tier forex news (from sources like Bloomberg, Reuters, or Dow Jones), and an economic calendar to track global events. Where they diverge is in added tools: Saxo includes Autochartist for technical scanning and offers a sentiment tool that shows long/short positioning across instruments, while Schwab does not. Neither broker provides Trading Central, TipRanks, or Acuity Trading tools.
Both brokers earn 5 out of 5 stars for research, yet their standings differ: ForexBrokers.com ranks Saxo #1 out of 63 brokers for Research, and Charles Schwab at #5. If you want built-in technical pattern spotting and trader sentiment, Saxo has the edge. If you’re already invested in Schwab’s ecosystem and mainly want strong commentary, trusted news, and a clear calendar, Schwab remains a solid choice.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing Saxo vs Charles Schwab for beginner education: both brokers host online client webinars at least monthly and provide large video libraries with 10+ beginner videos, plus 10+ advanced videos for when you’re ready to level up. Each earns 5 out of 5 stars for Education. In ForexBrokers.com’s rankings of 63 brokers, Charles Schwab places higher at #6, while Saxo is #12—so if ranking matters, Schwab has a slight edge, though both are strong choices for new traders seeking clear guidance and frequent live sessions.
Regarding dedicated forex and CFD education (10+ pieces focused on those topics), the information provided does not confirm availability for either broker. If your top priority is forex or CFDs, check each broker’s education library and archived webinars to verify topic depth. For broad trading education with plenty of videos and recurring webinars, both Saxo and Charles Schwab are well-equipped for beginners.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| 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 Saxo is better than Charles Schwab. Saxo finished with an overall rank of #3, while Charles Schwab finished with an overall rank of #6.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In a Saxo vs Charles Schwab comparison, neither broker allows purchases of actual delivered cryptocurrency, but both provide access to cryptocurrency CFDs.
Among online brokers, Saxo lacks ACH/SEPA funding while Charles Schwab supports it; both allow bank wires, neither supports PayPal or Skrill, 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 | Saxo | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Charles Schwab Review |
| Broker Screenshots | Saxo | Charles Schwab | |
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| Regulation | Saxo | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1971 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Saxo | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | Yes | Yes | |
| Japan (FSA Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Saxo | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Saxo | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 40000 | |
| Forex Pairs (Total) | 190 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| 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 | Saxo | Charles Schwab | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.0 | 1.27 | |
| All-in Cost EUR/USD - Active | 0.8 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | Saxo | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 374 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | Charles Schwab | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Saxo | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | Charles Schwab | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | Charles Schwab | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | Charles Schwab Review |
| Overall | Saxo | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Review | Charles Schwab Review |
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