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Saxo vs Charles Schwab 2024

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Written by ForexBrokers.com

August 29, 2023

Is Saxo better than Charles Schwab? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo is considered Trusted, with an overall Trust Score of 99 out of 99. Charles Schwab is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Saxo Charles Schwab
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Saxo Review Charles Schwab Review
Broker Screenshots Saxo Charles Schwab
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Saxo Charles Schwab
Trust Score info 99 99
Year Founded info 1992 1971
Publicly Traded (Listed) info No Yes
Bank info Yes Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-1 Licenses info 7 5
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Saxo Charles Schwab
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info Yes Yes
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info Yes No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No Yes
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No
Tier-2 Licenses (Trusted) Saxo Charles Schwab
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Saxo Charles Schwab
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 70000 40000
Forex Pairs (Total) info 190 73
U.S. Stock Trading (Non CFD) info Yes Yes
Int'l Stock Trading (Non CFD) info Yes Yes
Social Trading / Copy Trading info Yes No
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 info 1.1 info 1.25 info
All-in Cost EUR/USD - Active info 0.9 info 1.25 info
Active Trader or VIP Discounts info Yes No
Inactivity Fee info Yes No
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes No
Funding Saxo Charles Schwab
Minimum Deposit info $0 $0
PayPal (Deposit/Withdraw) info No No
Skrill (Deposit/Withdraw) info No No
Visa/Mastercard (Credit/Debit) info Yes No
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No Yes
Trading Platforms Saxo Charles Schwab
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes No
MetaTrader 4 (MT4) info No No
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Saxo Charles Schwab
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 60 580
Charting - Indicators / Studies (Total) info 64 374
Charting - Drawing Tools (Total) info 20 24
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Saxo Charles Schwab
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 64 374
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research Saxo Charles Schwab
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info No No
TipRanks info No No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education Saxo Charles Schwab
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Saxo Charles Schwab
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Saxo Review Charles Schwab Review
Overall Saxo Charles Schwab
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Saxo Review Charles Schwab Review
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Saxo vs Charles Schwab Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Saxo vs Charles Schwab.

Can I trust Saxo?

Saxo is not publicly traded, does operate a bank, and is authorised by seven tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero tier-3 regulators (Average Risk), and zero tier-4 regulators (High Risk). Saxo is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

Can I trust Charles Schwab?

Charles Schwab is publicly-traded, does operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Schwab is authorised by the following Tier-1 regulators: Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Is Saxo good?

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.

Is Charles Schwab good?

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.

What is the minimum deposit requirement for opening an account with Saxo?

To open a trading account with Saxo, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with Charles Schwab?

Charles Schwab requires a minimum deposit of $0 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Saxo offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas Charles Schwab provides Bank Wire (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does Saxo or Charles Schwab offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Saxo offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is Saxo or Charles Schwab safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Saxo holds 7 global Tier-1 licenses, while Charles Schwab holds 5. Saxo holds 1 global Tier-2 licenses, while Charles Schwab holds 0.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Saxo and Charles Schwab have earned the same Trust Score (99).

Which trading platform is better: Saxo or Charles Schwab?

To compare the trading platforms of both Saxo and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo offers a better experience. With research, Saxo offers superior market research. Finally, we found Saxo to provide better mobile trading apps.

Here’s what trading platforms are available at Saxo:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - Yes

Here’s what trading platforms are available at Charles Schwab:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. While Saxo offers copy trading, Charles Schwab does not.

What can I trade with each broker?

Saxo provides traders 190 currency pairs (e.g., EUR/USD) compared to Charles Schwab's 73 available pairs. If you are interested in trading a full range of securities, Saxo offers traders access to 70000 tradeable symbols, while Charles Schwab offers access to 40000 tradeable symbols; so Saxo offers 30000 more tradeable symbols than Charles Schwab.

We found in our testing that Saxo offers a more diverse selection of investment options than Charles Schwab, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Derivative) and Social Trading / Copy Trading. Neither have Cryptocurrency (Physical) and Spread Betting.

Overall winner: Saxo

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announcementPlease 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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