Charles Schwab vs TopFX 2025

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

Charles Schwab, founded in 1971, stands out as a highly trusted online broker with a near-perfect Trust Score of 99 as evaluated by ForexBrokers.com. This American-based company is publicly traded and operates as a bank, providing it with strong financial credibility. Additionally, Charles Schwab holds five Tier-1 licenses, reflecting significant regulatory oversight and compliance with high standards. These credentials contribute to its excellent reputation and stability in the financial markets.

In contrast, TopFX, established in 2010, offers a different profile. It is not listed on any stock exchange and does not operate as a bank. With a Trust Score of 67, TopFX is categorized as high risk according to ForexBrokers.com. The broker holds one Tier-1 license, marking partial regulatory compliance but falling short of the assurances provided by a company like Charles Schwab. These factors are essential for investors considering their options in online trading services.

Feature	Charles Schwab	TopFX
Year Founded info	1971	2010
Publicly Traded (Listed) info	Yes	No
Bank info	Yes	No
Tier-1 Licenses info	5	1
Tier-2 Licenses info	0	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	1

Fees

Here’s how Charles Schwab and TopFX stack up on commissions and fees. Both earn 4 out of 5 stars for this category. In ForexBrokers.com’s 2024 rankings, Charles Schwab places #26 out of 63 brokers, while TopFX ranks #41 out of 63.

Charles Schwab doesn’t charge a separate commission for forex; your costs come from the spread. In October 2024, the average EUR/USD spread was 1.35 pips, which is on the higher side versus peers. There’s no minimum deposit for Schwab’s main brokerage accounts, and you can trade forex on thinkorswim through a Schwab One account, with trades settling in U.S. dollars. The smallest trade size is 10,000 units (about $500 in margin at 20:1 leverage). For multi-currency trading, Schwab Global lets you access 12 international markets in local currencies, with currency conversion fees ranging from 0.2% to 1% depending on your balance. Overnight financing (carry) costs are displayed in-platform via a calculator.

TopFX offers two pricing models across MetaTrader and cTrader. The RAW account charges a commission of 2.75 EUR per side (5.50 EUR round turn per standard lot) with average EUR/USD spreads of 0.33 pips in July 2024; the commission equates to about 0.55 pips, making the all-in cost roughly 0.88 pips—near the industry average and generally lower than Schwab’s quoted average spread. The ZERO account has no commission but wider average spreads of 1.03 pips on EUR/USD (July 2024). The minimum deposit varies by payment method.

Feature	Charles Schwab	TopFX
Minimum Deposit info	$0	Depends on payment method
Average spread (EUR/USD) - Standard account info	1.32 info	1.03 info
All-in Cost EUR/USD - Active info	1.32 info	0.88 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.

Range of investments

Charles Schwab offers a far wider range of investments than TopFX. Schwab lists about 40,000 tradeable symbols and 73 forex pairs, while TopFX provides 655 symbols and 60 forex pairs. Both brokers support forex trading as a CFD or spot contract and both offer cryptocurrency CFDs (neither lets you buy actual crypto). A key difference is stock access: Schwab lets you buy real exchange-traded securities on U.S. and international markets (think Apple on NASDAQ or Vodafone in London), whereas TopFX does not offer real shares. If you want copy trading, TopFX includes it; Schwab does not.

For Range of Investments, Charles Schwab earns 5 out of 5 stars and ranks #5 out of 63 brokers on ForexBrokers.com. TopFX holds 3.5 out of 5 stars and ranks #47. In short, Schwab suits investors seeking extensive market access and real stocks across global exchanges, while TopFX is better for traders focused on CFDs and forex who also want the option to copy trade.

Feature	Charles Schwab	TopFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	40000	655
Forex Pairs (Total) info	73	60
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

Charles Schwab vs TopFX for trading platforms and tools: both provide free paper-trading demo accounts, web platforms, and Windows desktop software, plus the ability to place orders directly from charts. Schwab adds a proprietary, in-house platform, while TopFX relies on third-party options. Platform availability also differs: TopFX supports MetaTrader 4 (MT4), which Schwab does not, and neither broker offers MetaTrader 5 (MT5).

For extra features, TopFX includes copy trading, whereas Charles Schwab does not. In independent testing, Schwab’s platforms and tools earned 5 stars and ranked #5 out of 63 brokers on ForexBrokers.com; TopFX scored 4 stars and ranked #46. Choose Schwab if you want a highly rated, in-house platform with chart-based trading across web and desktop. Pick TopFX if you need MT4 and copy trading alongside web and desktop access.

Feature	Charles Schwab	TopFX
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	No
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 TopFX offer mobile trading apps for iPhone and Android, complete with price alerts and the ability to draw trendlines that auto-save to your charts. A key difference is watchlist syncing: Schwab syncs watchlists between the app and your online account so changes carry over, while TopFX does not. That makes Schwab more convenient if you manage positions and ideas across devices.

For charting depth, Schwab delivers 374 technical studies versus 30 on TopFX, giving experienced traders far more indicators to work with. Reflecting that gap, Schwab earns a 5-star Mobile Trading Apps rating and ranks #6 out of 63 brokers on ForexBrokers.com, while TopFX holds a 4-star rating and ranks #52. Choose Schwab if you want advanced charting and seamless watchlist management; pick TopFX if you mainly need core tools on the go.

Feature	Charles Schwab	TopFX
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 vs TopFX: Charles Schwab delivers daily market commentary, top-tier forex news (from sources like Bloomberg, Reuters, and Dow Jones), and an economic calendar. TopFX also streams leading forex news and offers an economic calendar but does not provide daily commentary. Tool-wise, TopFX stands out with Autochartist and Trading Central, plus a sentiment tool that shows long vs. short positioning across currency pairs—features Charles Schwab does not include. Charles Schwab does not offer TipRanks or Acuity Trading; TopFX’s use of TipRanks or Acuity Trading isn’t specified.

Ratings reflect these differences: Charles Schwab earns 5/5 stars for Research and ranks #5 out of 63 brokers on ForexBrokers.com, while TopFX scores 3/5 stars and ranks #61. Choose Charles Schwab if you value daily commentary and editorial insights alongside high-quality news; pick TopFX if you want built-in technical scanners from Autochartist, Trading Central analytics, and a sentiment gauge for your forex trading.

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

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Charles Schwab vs. TopFX for beginner trading education: Charles Schwab is the stronger choice for new traders. It runs online client webinars at least monthly and offers 10+ beginner videos plus 10+ advanced videos, giving beginners a clear path to learn and progress. Schwab’s education earns 5 stars and ranks 6th out of 63 brokers on ForexBrokers.com.

TopFX falls behind for beginners. It does not host monthly educational webinars and doesn’t meet the threshold of 10 beginner or 10 advanced videos. As a result, TopFX holds a 3-star education rating and ranks 62nd out of 63. Note: the data provided does not specify whether either broker meets the 10-piece threshold for forex- or CFD-specific education.

Feature	Charles Schwab	TopFX
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 TopFX. Charles Schwab finished with an overall rank of #6, while TopFX finished with an overall rank of #62.

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	TopFX
Overall Rating info
Trust Score info	99	67
Range of Investments
Commissions & Fees
Platforms & Tools
Research
Mobile Trading
Education

FAQs

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Overall Rating	Charles Schwab	TopFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	67
Winner	check_circle
Review	Charles Schwab Review	TopFX Review

Broker Screenshots	Charles Schwab	TopFX
Broker Gallery (click to expand) info

Regulation	Charles Schwab	TopFX
Trust Score info	99	67
Year Founded info	1971	2010
Publicly Traded (Listed) info	Yes	No
Bank info	Yes	No
Regulated in one or more EU or EEA countries (MiFID). info	No	Yes info
Tier-1 Licenses info	5	1
Tier-2 Licenses info	0	0
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	1

Tier-1 Licenses (Highly Trusted)	Charles Schwab	TopFX
Australia (ASIC Authorised) info	No	No
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		No
Regulated in one or more EU or EEA countries (MiFID). info	No	Yes info

Tier-2 Licenses (Trusted)	Charles Schwab	TopFX
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	TopFX
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	40000	655
Forex Pairs (Total) info	73	60
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	TopFX
Average spread (EUR/USD) - Standard account info	1.32 info	1.03 info
All-in Cost EUR/USD - Active info	1.32 info	0.88 info
Inactivity Fee info	No	No
Order execution: Agency info	Yes	No
Order execution: Market Maker info	No	Yes

Funding	Charles Schwab	TopFX
Minimum Deposit info	$0	Depends on payment method
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	TopFX
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	No
cTrader info	No	Yes

Trading Tools	Charles Schwab	TopFX
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	TopFX
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	TopFX
Daily Market Commentary (Articles) info	Yes	No
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	Yes
Trading Central info	No	Yes
TipRanks info	No
Client sentiment data info	No	Yes
Economic Calendar info	Yes	Yes

Education	Charles Schwab	TopFX
Webinars info	Yes	No
Videos - Beginner Trading Videos info	Yes	No
Videos - Advanced Trading Videos info	Yes	No

Major Forex Pairs	Charles Schwab	TopFX
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	TopFX Review

Overall	Charles Schwab	TopFX
Overall Rating info
Commissions & Fees
Range of Investments
Platforms & Tools
Mobile Trading
Research
Education
Trust Score info	99	67
Winner	check_circle
Review	Charles Schwab Review	TopFX Review