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Charles Schwab vs TMGM 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Charles Schwab vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Charles Schwab
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5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 40000
TMGM
4/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 83
  • Tradeable Symbols (Total): 12000

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.

Regulation

Founded in 1971, Charles Schwab stands as a seasoned player in the financial industry, solidifying its reputation with a ForexBrokers.com Trust Score of 99, indicating it is highly trusted. As a publicly traded bank, Charles Schwab offers enhanced security with its five Tier-1 licenses, the highest level of regulatory endorsement. This gives clients peace of mind, as such licenses signify substantial trust and oversight.

TMGM, established in 2013, is a newer entrant, yet it holds a respectable ForexBrokers.com Trust Score of 83. While it is not publicly traded and operates solely as a brokerage, TMGM still maintains strong credibility through its two Tier-1 licenses, striking a trusted stance in the financial services world. Despite its shorter history compared to Charles Schwab, TMGM continues to establish its reputation as a reliable broker.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Year Founded info 1971 2013
Publicly Traded (Listed) info Yes No
Bank info Yes No
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2

Fees

Charles Schwab and TMGM both earn 4 stars for commissions and fees, but they approach pricing differently. Schwab ranks #26 out of 63 in this category at ForexBrokers.com, while TMGM ranks #37 out of 63. Schwab sticks to a spread-only model for forex (no commission), whereas TMGM’s best pricing is on its Edge account, which mixes low spreads with a small commission.

At Schwab, forex trades on thinkorswim carry no commission; your cost is the spread. The average EUR/USD spread in October 2024 was 1.35 pips, which is on the higher side versus peers. There’s no minimum deposit for its main brokerage accounts. Trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that implies about $500 in margin. If you use the Schwab Global account to trade in local currencies, currency conversion fees apply (about 0.2% to 1% depending on balance). Overnight financing costs are shown in-platform via a calculator, which helps you estimate holding costs.

TMGM’s pricing depends on the account you choose. The Edge account charges a $3.50 commission per side ($7 round trip) plus low prevailing spreads and supports swap-free (Islamic) options; the Classic account is spread-only but doesn’t offer swap-free. TMGM did not provide recent average spread data for EUR/USD, which makes apples-to-apples cost comparisons harder. If you prioritize transparent published averages, Schwab has the data (albeit with wider spreads), while TMGM’s Edge structure can be cost-effective for active traders who are comfortable with a commission-plus-spread model.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Minimum Deposit info $0 $100
Average spread (EUR/USD) - Standard account info 1.32 info N/A info
All-in Cost EUR/USD - Active info 1.32 info N/A info
Non-wire bank transfer info Yes No
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Charles Schwab vs. TMGM: both brokers support forex trading as CFDs or spot, and both offer cryptocurrency CFDs (neither lets you buy actual crypto). Schwab delivers a much wider catalog with 40,000 tradable symbols and 73 forex pairs, while TMGM lists 12,000 symbols and 62 pairs. A key difference is stock access: Schwab lets you buy exchange‑traded securities on U.S. and international exchanges (for example, Apple on NASDAQ and Vodafone in London). TMGM does not offer direct share dealing on those exchanges, but it does provide copy trading, which Schwab lacks.

For range of investments, ForexBrokers.com rates Schwab 5/5 stars (ranked 5th of 63) and TMGM 4.5/5 stars (18th of 63). In short, pick Schwab if you want the widest selection and the ability to buy real shares across multiple markets, while TMGM suits traders who value copy trading alongside forex and crypto CFDs.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 12000
Forex Pairs (Total) info 73 62
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Comparing online brokers on trading platforms and tools, Charles Schwab and TMGM both offer paper trading (free demo accounts) and let you place trades directly from charts. Schwab provides a proprietary, in-house platform along with Windows desktop and web-based platforms. TMGM also supports Windows desktop and web trading, but does not have its own proprietary platform. Where TMGM stands out is support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus copy trading—features that Schwab does not offer.

For Trading Platforms and Tools, ForexBrokers.com rates Charles Schwab at 5 stars and ranks it #5 out of 63 brokers, while TMGM earns 4 stars and ranks #49. Choose Schwab if you want an in-house platform experience with chart trading on desktop and web. Pick TMGM if you prefer MT4/MT5 and copy trading, while still getting a free demo to practice before going live.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 374 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Both Charles Schwab and TMGM offer mobile trading apps for iPhone and Android, and each supports price alerts, trendline drawing on charts, and auto-saving your chart annotations. Where they differ is watchlists: Schwab syncs watchlists across mobile and web so changes carry over, while TMGM does not.

For charting tools, Schwab stands out with 374 technical studies compared with TMGM’s 30, making it better suited for traders who rely on indicators. In independent reviews, Schwab’s mobile app earns 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com; TMGM earns 4 stars and ranks #48. If you want deeper analysis and seamless watchlist syncing, Schwab is the stronger pick, while TMGM covers the basics for on-the-go trading.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Comparing market research at Charles Schwab and TMGM: both deliver daily market commentary and stream forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar. The tool lineup is where they differ. Schwab does not offer Autochartist, Trading Central, sentiment gauges, TipRanks, or Acuity Trading tools. TMGM also lacks Autochartist and TipRanks, but adds Trading Central analytics, a sentiment tool that shows long/short positioning, and Acuity Trading features such as Signal Centre.

On independent scores, ForexBrokers.com rates Schwab at 5 stars (ranked #5 of 63 brokers for Research) versus TMGM at 3.5 stars (ranked #54). In short, choose Schwab if you value high-quality commentary and mainstream news coverage; pick TMGM if you want built-in technical signals and sentiment insights to support trade timing.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info No Yes
Client sentiment data info No Yes
TipRanks info No No
Acuity Trading info No Yes
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Comparing Charles Schwab vs TMGM for beginner education, Schwab clearly offers more structure and frequency. Schwab runs online client webinars at least once a month and provides at least 10 beginner videos plus at least 10 advanced videos that cover trading topics in depth. By contrast, TMGM does not run monthly educational webinars and does not meet the 10-video threshold for either beginner or advanced topics. Based on the information provided, it isn’t confirmed whether either broker meets the specific “10+ pieces focused on forex or CFDs” requirement, so prospective learners should verify current forex and CFD lesson counts directly on each broker’s site.

Independent ratings back up the difference: Schwab earns 5 stars for Education and ranks #6 out of 63 brokers at ForexBrokers.com, while TMGM scores 3.5 stars and ranks #54. For beginners who want consistent webinars and a larger video library, Charles Schwab is the stronger pick. If you prefer TMGM for other reasons, expect fewer beginner-friendly materials and plan to supplement your learning with outside forex and CFD resources.

Feature Charles Schwab logoCharles Schwab
TMGM logoTMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than TMGM. Charles Schwab finished with an overall rank of #6, while TMGM finished with an overall rank of #37.

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 logoCharles Schwab
TMGM logoTMGM
Overall Rating info 5/5 Stars 4/5 Stars
Trust Score info 99 83
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with Charles Schwab or TMGM?

In the Charles Schwab vs TMGM online broker comparison, neither offers the ability to buy actual delivered cryptocurrencies, but both allow trading cryptocurrency CFDs.

What funding options does each broker offer?

Comparing online brokers Charles Schwab vs TMGM for deposit and withdrawal methods: Charles Schwab supports ACH/SEPA transfers and bank wires but not PayPal or Skrill, while TMGM does not support ACH/SEPA transfers and the availability of PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.

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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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Overall Rating Charles Schwab TMGM
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 83
Winner check_circle
Review Charles Schwab Review TMGM Review
Broker Screenshots Charles Schwab TMGM
Broker Gallery (click to expand) info
Schwab thinkorswim mobile forex charting. Schwab thinkorswim desktop forex trading. Schwab research weekly market analysis YouTube video detail. Schwab education courses technical analysis.
TMGM MetaTrader 5 MT5 mobile app charts. TMGM client dashboard login TMGM Research Acuity Trading Signal Centre trading signals detail. TMGM learning center academy educational beginner courses progress tracking
Regulation Charles Schwab TMGM
Trust Score info 99 83
Year Founded info 1971 2013
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info No No info
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 2
Tier-1 Licenses (Highly Trusted) Charles Schwab TMGM
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info Yes
Regulated in one or more EU or EEA countries (MiFID). info No No info
Tier-2 Licenses (Trusted) Charles Schwab TMGM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No
South Africa (FSCA Authorised) info No
UAE (DFSA, FSRA, or SCA Authorised) info No
India (SEBI Authorised) info No
Jordan (JSC Authorised) info
Investments Charles Schwab TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 12000
Forex Pairs (Total) info 73 62
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info No Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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 Charles Schwab TMGM
Average spread (EUR/USD) - Standard account info 1.32 info N/A info
All-in Cost EUR/USD - Active info 1.32 info N/A info
Inactivity Fee info No Yes
Order execution: Agency info Yes Yes
Order execution: Market Maker info No Yes
Funding Charles Schwab TMGM
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info Yes No
Trading Platforms Charles Schwab TMGM
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
Trading Tools Charles Schwab TMGM
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 374 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Charles Schwab TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research Charles Schwab TMGM
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info No Yes
TipRanks info No No
Client sentiment data info No Yes
Economic Calendar info Yes Yes
Education Charles Schwab TMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs Charles Schwab TMGM
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review Charles Schwab Review TMGM Review
Overall Charles Schwab TMGM
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 4/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 83
Winner check_circle
Review Charles Schwab Review TMGM Review
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