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 | 1.0 | 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 check key boxes for platform features: each offers a free paper trading (demo) account, in-house proprietary platforms, and the choice of a Windows desktop download or a browser-based platform. Traders can place orders straight from a chart with either broker. If you’re looking for copy trading or MetaTrader support (MT4/MT5), neither broker provides those options.
Independent testing at ForexBrokers.com rates both brokers at 5 out of 5 stars for Trading Platforms and Tools. In the category ranking, Saxo holds the #1 spot out of 63 brokers, while Charles Schwab comes in at #5. If you want the category leader, Saxo edges ahead; if you prefer a well-known U.S. brokerage brand with top-tier tools, Schwab is a strong alternative.
| 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 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 (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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