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 offer commission-free forex trading, so your main cost is the spread. Saxo’s EUR/USD averages were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP) as of November 2023, with minimums about 0.2 pips lower. Saxo does add a $3 per side ticket fee only if you trade less than 50,000 units in a month. Schwab’s average EUR/USD spread was 1.35 pips in October 2024, which sits on the higher side compared with top-tier pricing; it also displays overnight financing charges in-platform so you can estimate carry costs.
Account requirements and extras can affect your total cost. Saxo’s Classic account now has a $0 minimum deposit, while Platinum requires $200,000 and VIP requires $1,000,000 (or qualifying via volume-based loyalty upgrades). Saxo also waives custody fees for share trading if you opt into securities lending. Schwab has no minimum deposit for its main brokerage accounts, but the smallest forex trade size is 10,000 units, and its Schwab Global account carries currency conversion fees of about 0.2% to 1% when funding in a different currency.
Ratings and rankings: Saxo earns 5 stars for commissions and fees and ranks #9 out of 63 brokers at ForexBrokers.com. Charles Schwab earns 4 stars and ranks #26 out of 63. In short, active or high-balance traders may find lower trading costs at Saxo, while Schwab offers easy entry with no account minimums but generally wider spreads.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.32 |
| All-in Cost EUR/USD - Active | 0.9 | 1.32 |
| 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, earning 5 stars for Range of Investments from ForexBrokers.com. Saxo is ranked #3 out of 63 brokers, while Schwab is #5. Saxo lists about 70,000 tradeable symbols compared with Schwab’s 40,000. For currency traders, Saxo offers 190 forex pairs versus Schwab’s 73, and both support forex trading as CFDs or spot. Each broker lets you buy exchange-traded securities on U.S. markets as well as international exchanges, so you can access names like Apple in the U.S. and Vodafone in London.
A few differences stand out. Saxo offers copy trading, while Charles Schwab does not. Neither broker lets you buy actual, delivered cryptocurrency, but both provide access to cryptocurrency through CFDs. If you want the broadest market list and copy trading, Saxo has the edge. If you want a large selection of U.S. and global shares with forex access, Schwab remains a strong choice.
| Feature |
Saxo
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 40000 |
| Forex Pairs (Total) | 190 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | 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 in-house trading platforms that you can use in your browser or as a Windows desktop download. Each broker offers free paper trading so you can practice with a virtual account, plus handy chart trading that lets you place orders right from a price chart. Neither supports MetaTrader 4 or MetaTrader 5, so if you rely on MT4/MT5, you’ll need to look elsewhere.
Key differences: Saxo includes copy trading, while Charles Schwab does not. Despite that, both earn 5 stars for Trading Platforms and Tools. In ForexBrokers.com’s rankings, Saxo sits at #1 out of 63 brokers for this category, while Charles Schwab comes in at #5—strong results for both, with Saxo holding the edge for platform and toolset recognition.
| 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 | Yes | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 64 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and Charles Schwab both offer full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, watchlist syncing with your online account, and handy chart tools like trendline drawing with auto-save. Both are highly rated for Mobile Trading Apps, earning 5 stars, so you can count on a polished experience either way.
Where they differ most is charting depth. Saxo’s mobile app includes 64 technical studies, while the Charles Schwab mobile app offers 374 studies for traders who rely on many indicators. In ForexBrokers.com’s ranking of 63 brokers, Saxo’s mobile app places #2 versus Charles Schwab at #6. In short, pick Saxo if you want a top-ranked, streamlined mobile experience; choose Charles Schwab if you want the widest set of built-in indicators for analyzing stock (and, where available, forex) charts.
| 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.
If you’re learning to trade, both Saxo and Charles Schwab make it easy to get started. Each broker hosts online client webinars at least once a month and offers 10+ beginner videos that explain trading basics in plain language. When you’re ready to level up, both also provide 10+ advanced videos for experienced topics. Their education libraries include articles, videos, and archived sessions, with content that covers markets such as forex and CFDs—useful for beginners who want to explore those areas.
Both brokers earn 5 stars for Education from ForexBrokers.com, but Charles Schwab ranks higher overall in the Education category (#6 of 63) than Saxo (#13 of 63). For a new trader seeking steady guidance and frequent live classes, Schwab has a slight edge by ranking, while Saxo remains a strong choice with plenty of beginner-friendly content and regular webinars.
| 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
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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 (SFC 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) | 70000 | 40000 | |
| Forex Pairs (Total) | 190 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | 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 | 1.1 | 1.32 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.32 | |
| 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 | Yes | 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) | 64 | 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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