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.
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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 |
Saxo and Charles Schwab both keep forex trading costs fairly simple, but Saxo comes out ahead on price. Saxo is commission-free on forex trades, earning money through the spread instead, with a small $3 per-side ticket fee only for traders who trade under 50,000 units per month. Its pricing is especially strong for active and high-volume traders, and its average EUR/USD spreads in November 2023 were 1.1 pips on Classic, 1.0 on Platinum, and 0.9 on VIP. Saxo is rated 5 out of 5 stars for commissions and fees and ranks #8 out of 36 brokers.
Charles Schwab also charges no commissions for forex trading, but its trading costs come from the bid/ask spread, which was higher on average than Saxo’s. In October 2024, Schwab’s average EUR/USD spread was 1.35 pips. Schwab’s entry point is lower because its main brokerage accounts have no minimum deposit, and its Schwab Global account can be useful for trading international markets in local currencies, though currency conversion fees may apply. Charles Schwab is rated 4 out of 5 stars for commissions and fees and ranks #23 out of 36 brokers.
Overall, Saxo is the better choice if your main goal is lower forex trading costs, especially if you trade often or can qualify for better account tiers. Schwab may still appeal to investors who want easy access to U.S. dollar-based forex trading and international investing, but its spreads are generally less competitive. Saxo also offers lower pricing for Platinum and VIP clients, while Schwab’s fees are more tied to currency spreads and possible conversion charges.
| 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 give investors access to a wide mix of markets, including forex trading, U.S. stocks, international shares, and cryptocurrency CFDs. Each broker supports buying exchange-traded securities on U.S. and international exchanges, but neither offers copy trading or the option to buy actual delivered cryptocurrency.
Where Saxo stands out is in overall choice: it offers about 71,000 tradeable symbols and 190 forex pairs, compared with Charles Schwab’s 40,000 symbols and 73 forex pairs. Both brokers earn 5 out of 5 stars for Range of Investments, but Saxo is ranked higher by ForexBrokers.com in this category, coming in at #3 versus Charles Schwab at #5.
| 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 score highly for trading platforms and tools, with each broker offering a free paper trading account, a proprietary in-house platform, a Windows desktop download, and a web-based platform. Both also let traders place orders directly from a chart, which can make it easier to act quickly while reviewing market moves. Neither broker supports copy trading, MetaTrader 4, or MetaTrader 5, so traders looking for those third-party options will need to look elsewhere.
In terms of overall quality, both Saxo and Charles Schwab are rated 5 out of 5 stars for Trading Platforms and Tools. Saxo holds a higher ranking at #3 out of 36 brokers, while Charles Schwab ranks #7 out of 36, giving Saxo a slight edge in this category. For everyday traders, that means both platforms are strong choices, but Saxo has a small lead based on ForexBrokers.com’s comparison.
| 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 make it easy to trade from a phone, with iPhone and Android apps, price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. Each broker also earns a top 5-star rating for mobile trading apps, so both are strong choices if you want a simple way to monitor markets and manage trades on the go.
The main difference is in charting tools. Saxo’s mobile app includes 64 technical studies, while Charles Schwab offers 374, giving Schwab a much wider set of charting options for active traders who want more depth. Even so, Saxo ranks higher overall in ForexBrokers.com’s mobile trading apps category, placing #3 out of 36 brokers, compared with Charles Schwab at #6 out of 36.
| 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 strong market research for traders and investors. Each broker provides daily market commentary, forex news from major sources like Bloomberg, Reuters, or Dow Jones, and an economic calendar with key global events. Both are also rated 5 out of 5 stars for Research, showing that each platform gives users plenty of useful information to track markets and plan trades.
Where Saxo stands out is in a few added research tools that Charles Schwab does not offer. Saxo includes Autochartist and a sentiment tool that shows long and short positioning across instruments, which can help traders spot possible trends and market mood. Charles Schwab does not offer these features, and neither broker uses Trading Central, TipRanks, or Acuity Trading tools. Still, Saxo is ranked #1 out of 36 brokers for Research by ForexBrokers.com, while Charles Schwab is ranked #5, giving Saxo the edge overall.
| 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.
Saxo and Charles Schwab both give beginners plenty of learning support, with each broker offering online educational webinars at least once a month plus at least 10 beginner videos and 10 advanced videos on trading topics. Both also earn a 5-star rating for Education, showing that each platform puts real effort into helping new traders build skills and understand the market. When it comes to forex or CFDs-specific education, neither broker clearly stands out from the other based on the information provided, since both are listed as offering this type of content.
For beginners comparing the two, Charles Schwab has a slight edge in ForexBrokers.com’s Education ranking, placing #6 out of 36 brokers, while Saxo ranks #12. Even so, both brokers are strong choices for learning, with a mix of videos, webinars, and market education that can help new traders get started in a clear, easy-to-follow way.
| 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 a 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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| Broker Gallery (click to expand) |
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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 CMA 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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