Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Tickmill, 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.
Charles Schwab, established in 1971, stands out in the online brokerage world as a publicly traded bank with a top-tier reputation. It holds a perfect Trust Score of 99 out of 99 from ForexBrokers.com, highlighting its reliability. Schwab possesses five Tier-1 licenses, making it a highly trusted choice for investors looking for security and peace of mind. This longstanding institution is recognized for combining a banking platform with brokerage services, offering a comprehensive financial experience.
In contrast, Tickmill, founded in 2014, is a newer player in the market. Though not publicly traded nor a bank, it still maintains a respectable ForexBrokers.com Trust Score of 86, falling into the trusted category. Tickmill holds two Tier-1 and two Tier-2 licenses, indicating a solid regulatory standing. While Tickmill offers a different business model compared to Charles Schwab, it provides trusted services that cater to those who prefer a more focused trading platform.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to comparing Charles Schwab and Tickmill for their commissions and fees, both have their unique strengths suited for different types of traders. Charles Schwab, with no minimum deposit requirement for its primary brokerage accounts, provides an easy entry for forex trading through its Schwab One and Schwab Global accounts. Trading costs involve no direct commissions but rely on bid/ask spreads, with an average spread of 1.35 pips for EUR/USD as of October 2024. Schwab allows forex trades settled in U.S. dollars and charges varying conversion fees on the Schwab Global account, which can range from 0.2% to 1% depending on the account balance size. Rated 4 stars for commissions and fees, Schwab ranks #23 out of 63 brokers according to ForexBrokers.com.
Tickmill, on the other hand, offers more favorable conditions for active traders, with its two account types: Classic and Raw. The Classic account is commission-free but comes with higher average spreads of 1.76 pips as of August 2023. The Raw account, which replaced the Pro and VIP accounts, features competitive spreads like 0.11 pips for EUR/USD and includes a commission of $3 per side per standard lot, resulting in an all-in cost of around 0.71 pips. This account type is ideal for those who value low spreads and advanced execution policies for algorithmic trading, maintaining a low minimum deposit requirement of $100. Tickmill's competitive offering has garnered it a 5-star rating and a #4 ranking in the Commissions and Fees category by ForexBrokers.com.
For traders choosing between these two brokers, the decision largely depends on their trading style and focus. Charles Schwab offers convenient access to a variety of financial markets without commission fees, albeit with higher average spreads. In contrast, Tickmill provides lower overall costs and excellent conditions for forex trading through its Raw account, making it highly attractive for active traders seeking the best value for their trades.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 0.51 |
| All-in Cost EUR/USD - Active | 1.35 | 0.31 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and Tickmill both offer forex trading as either CFDs or spot contracts, catering to investors interested in currency markets. However, Schwab clearly stands out with an impressive lineup of 40,000 tradeable symbols, in contrast to Tickmill's 725. Schwab also provides a slightly broader selection of forex pairs, with 73 compared to Tickmill's 63. When it comes to stocks, Charles Schwab offers clients access to both U.S. and international exchange-traded securities, making it possible to trade major companies like Apple and Vodafone. Tickmill, on the other hand, does not provide opportunities to invest in exchange-traded securities on U.S. or international exchanges.
While both brokers refrain from offering actual cryptocurrencies, they do allow trading in cryptocurrency derivatives. Tickmill embraces the rising trend of copy trading, appealing to traders looking to mirror others' strategies, whereas Schwab does not support this feature. As reflected in ratings and rankings, Charles Schwab leads with a stellar five-star rating and ranks fifth out of 63 brokers for its range of investments on ForexBrokers.com. Tickmill garners a 3.5-star rating, resulting in its 42nd place ranking. This comparison highlights Schwab's more extensive investment opportunities, while Tickmill still presents viable options for specific trading interests.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 725 |
| Forex Pairs (Total) | 73 | 63 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When it comes to choosing a trading platform, both Charles Schwab and Tickmill offer unique advantages tailored to different trading needs. Charles Schwab excels with its in-house developed trading platform, offering a comprehensive set of tools and features. Traders can benefit from a simulated trading option with a virtual demo account to practice their strategies. For those who prefer desktop applications, Charles Schwab provides a Windows-based platform with the ability to trade directly from stock charts. It boasts an impressive 580 columns for watch lists, significantly more than Tickmill's 7 columns. On the other hand, Tickmill supports popular MetaTrader platforms, both MT4 and MT5, catering to traders familiar with these industry staples. Additionally, Tickmill offers copy trading capabilities, allowing traders to mirror the strategies of experienced investors.
Both brokerages provide web-based trading platforms, making it convenient for users who prefer browser-based access. Charles Schwab stands out with a five-star rating for its trading platforms and tools, ranked #5 out of 63 brokers by ForexBrokers.com, showcasing its superior offerings in the category. While Tickmill holds a respectable four-star rating, ranked #32, it appeals to traders looking for MetaTrader compatibility and copy trading options. In terms of technical analysis, Charles Schwab offers a stronger selection with 24 drawing tools, compared to Tickmill's 15, enhancing the ability to perform detailed chart analyses. Whether you value extensive in-house development or the flexibility of copy trading and MetaTrader support, each broker brings something distinct to the table for online trading enthusiasts.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and Tickmill offer comprehensive mobile trading apps compatible with iPhone and Android devices. Users can receive stock or forex price alerts, aiding them in staying on top of market movements. However, Charles Schwab stands out by allowing watchlist symbol syncing, which means watchlists in their mobile app update with changes made on the online account and vice versa. This feature is not available with Tickmill. For traders who rely on technical studies, Charles Schwab provides a significant advantage by offering 374 studies compared to Tickmill's 30.
Charting capabilities for both apps include drawing trendlines and viewing different time frames such as daily, weekly, or intraday, while also ensuring drawings are auto-saved. Creating a watchlist with real-time quotes is easy with both options. Charles Schwab's mobile app holds a notable edge with a 5-star rating and is ranked #6 among 63 brokers by ForexBrokers.com. Tickmill, meanwhile, earns 4 stars and is ranked #32. For users seeking an extensive feature set and higher-rated user experience, Charles Schwab emerges as the preferred choice.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and Tickmill provide daily market commentary and forex news from top-tier sources, making them reliable options for staying informed about market trends. While neither broker offers technical analysis tools from Autochartist or Trading Central, Tickmill distinguishes itself by providing a sentiment-based trading tool for traders interested in gauging market sentiment through the ratio of long and short positions across currency pairs. Tickmill also offers research tools from Acuity Trading, which Charles Schwab does not.
In terms of comprehensive research tools, Charles Schwab outshines Tickmill with a 5-star rating and ranks 4th out of 63 brokers in the Research category according to ForexBrokers.com. Both platforms provide an economic calendar for tracking global news events, but Tickmill, rated with 4 stars and ranked 22nd, could benefit from a broader range of advanced research tools similar to what Charles Schwab offers to climb higher in rankings.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners diving into the world of trading, both Charles Schwab and Tickmill provide comprehensive educational resources. They each offer more than 10 educational pieces focusing on forex or CFDs, including articles, videos, and archived webinars. Whether you're just starting or advancing, both platforms cater to your learning needs with an array of webinars conducted monthly, coupled with easy access to a searchable archive of recorded sessions. New traders will appreciate the beginner-focused videos, while seasoned investors can tap into advanced educational content to hone their skills.
When comparing the quality of educational offerings, Charles Schwab shines with a 5-star rating, placing it 6th in the Education category among 63 brokers according to ForexBrokers.com. Meanwhile, Tickmill receives 4 stars, ranking it 15th. Both brokers provide a handy investor dictionary covering at least 50 investing terms, making it easier for traders to familiarize themselves with industry jargon and concepts. Although both brokers excel in educating clients, Charles Schwab takes a slight edge in rankings based on these resources. Whether you choose Charles Schwab or Tickmill, both offer valuable tools to enhance your trading knowledge and skills.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than Tickmill. Charles Schwab finished with an overall rank of #6, while Tickmill finished with an overall rank of #22.
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.
| Feature |
Charles Schwab
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Tickmill
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both Charles Schwab and Tickmill do not offer the option to purchase actual (delivered) cryptocurrency, but they provide the ability to trade cryptocurrency derivatives.
When comparing online brokers, Charles Schwab offers ACH, SEPA, and bank wire transfers for depositing and withdrawing funds, but lacks options like PayPal, Skrill, and card payments such as Visa or Mastercard, whereas Tickmill supports PayPal, Skrill, card payments, and bank wires but does not provide ACH or SEPA transfers.
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 | Charles Schwab | Tickmill | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Tickmill Review |
| Broker Screenshots | Charles Schwab | Tickmill | |
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| Regulation | Charles Schwab | Tickmill | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Tickmill | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Tickmill | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Tickmill | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 725 | |
| Forex Pairs (Total) | 73 | 63 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | Charles Schwab | Tickmill | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.51 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.31 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Tickmill | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | Tickmill | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Tickmill | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Tickmill | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Tickmill | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Tickmill | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Tickmill | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | Tickmill Review |
| Overall | Charles Schwab | Tickmill | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Tickmill Review |
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