Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Trade Nation, 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 and Trade Nation are two online brokers catering to different needs in the financial market. Established in 1971, Charles Schwab is a publicly traded company that also functions as a bank, offering a broad spectrum of financial services. In contrast, Trade Nation, founded in 2014, focuses solely on brokerage services and is not publicly traded. Charles Schwab is highly regarded in terms of trustworthiness, boasting a perfect ForexBrokers.com Trust Score of 99. This high level of trust is backed by its five Tier-1 licenses, which are deemed highly trusted by ForexBrokers.com.
While Trade Nation has a solid Trust Score of 85, it holds two Tier-1 licenses and one Tier-2 license. This positions Trade Nation as a reliable option in the industry, although it lacks the broad recognition and banking capabilities of Charles Schwab. When evaluating which broker suits your needs, consider these aspects along with their regulatory standing and services provided. Both brokers offer distinct advantages, making them suitable for different types of investors.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Charles Schwab charges no commissions for forex; your trading costs come from the spread. In October 2024, the average EUR/USD spread was about 1.35 pips, which is on the higher side. All trades settle in U.S. dollars, the smallest trade size is 10,000 units (about $500 margin at 20:1), and overnight financing is shown in-platform. If you use Schwab Global to trade in local currencies, expect currency conversion fees of roughly 0.2%–1% (trading local currency via Schwab One generally requires a phone order). Commissions and fees rating: 4 out of 5 stars. Category ranking: #26 of 63.
Trade Nation leans on clear, fixed spreads on its TN Trader platform, listing EUR/USD at 0.6 pips for most of the day, widening to as much as 1.4 pips around the daily rollover; that brings the typical average close to 1 pip. On MetaTrader, you can choose a commission-free account (higher spreads) or the Raw Spread account with a $3.50 commission per side ($7 round trip) per standard lot. In practice, TN Trader often offers the lowest all-in pricing among its account options. Commissions and fees rating: 5 out of 5 stars. Category ranking: #7 of 63.
Bottom line on costs: Trade Nation’s pricing is generally sharper for EUR/USD and easy to gauge thanks to fixed spreads (plus a clear commission option on MetaTrader). Schwab’s no-commission model is simple, but its spreads can be wider and currency conversion fees may apply when accessing foreign markets. Choose Trade Nation if low, predictable spreads are your priority; pick Schwab if you want U.S.-dollar settlement and access to thinkorswim alongside a wide range of account types.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.32 | 0.6 |
| All-in Cost EUR/USD - Active | 1.32 | 0.6 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Charles Schwab vs Trade Nation for range of investments: Schwab offers about 40,000 tradeable symbols versus Trade Nation’s 1,000. Forex coverage is wider at Schwab with 73 currency pairs vs 46 at Trade Nation, and both allow forex trading (CFD or spot). Only Schwab lets clients buy exchange-traded securities on U.S. and international exchanges (for example, Apple on Nasdaq or Vodafone in London); Trade Nation does not. Neither broker supports purchasing actual, delivered cryptocurrency, but both provide access to crypto derivatives.
Feature extras differ too: Trade Nation supports copy trading, while Charles Schwab does not. For overall investment selection, ForexBrokers.com rates Charles Schwab 5 out of 5 stars (ranked #5 of 63) and Trade Nation 3.5 out of 5 stars (ranked #39 of 63). Choose Schwab if you want wide market access across stocks, international shares, and more symbols; pick Trade Nation if you’re focused on CFD trading with copy trading as a bonus.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1000 |
| Forex Pairs (Total) | 73 | 46 |
| 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.
Comparing Charles Schwab vs Trade Nation on trading platforms and tools, both brokers offer simulated paper (demo) trading, in-house platforms, a Windows desktop platform, and a web-based platform. Copy trading is available at Trade Nation but not at Schwab. Trade Nation supports MetaTrader 4 (MT4), while Schwab does not; neither broker supports MT5, DupliTrade, or ZuluTrade. If you need MT4 or copy trading, Trade Nation has the edge; if those aren’t priorities, both deliver strong core platform options.
For charting and tools, Charles Schwab lets you trade directly from charts, while Trade Nation does not. Trade Nation lists 39 drawing tools versus 24 at Schwab, though Schwab’s watchlists are far more detailed (580 fields vs 14). Each broker includes a variety of technical indicators. Overall, Schwab earns 5 stars and ranks #5 out of 63 brokers for Trading Platforms and Tools, while Trade Nation earns 4 stars and ranks #45. In short, Schwab suits traders who want deep platform features and granular watchlists, while Trade Nation suits those who value MT4 access and built-in copy trading.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 115 |
| Charting - Drawing Tools (Total) | 24 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and Trade Nation offer polished mobile trading apps for iPhone and Android. Each app supports price alerts, syncing watchlists with your online account, drawing trendlines on stock or forex charts, switching between multiple time frames (intraday to weekly), auto‑saving chart drawings, and building watchlists with real-time quotes. If you want the essentials—alerting, watchlists, and clean charting—either app will get the job done.
The bigger gap shows up in charting depth and industry scores. Charles Schwab packs in 374 technical studies versus Trade Nation’s 99, giving more room for technical analysis. Reflecting that edge, ForexBrokers.com rates Schwab’s mobile app at 5 stars and ranks it #6 out of 63 brokers, while Trade Nation earns 4 stars and ranks #46. If you value a deeper set of indicators and a higher-rated experience, Schwab stands out; if you just need core tools on a straightforward app, Trade Nation remains a solid option.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 99 |
| 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.
Charles Schwab and Trade Nation both deliver daily market commentary and stream forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Neither broker offers Autochartist, Trading Central, or TipRanks. Schwab stands out with an economic calendar covering global events. Trade Nation, by contrast, lacks an economic calendar but adds a sentiment tool showing long/short positioning plus research from Acuity Trading (Signal Centre).
For overall research strength, Charles Schwab leads with a 5 out of 5 star rating and a #5 ranking out of 63 brokers on ForexBrokers.com. Trade Nation earns 3.5 stars and ranks #43. Choose Schwab if you want an economic calendar alongside daily commentary and premium news; pick Trade Nation if a sentiment gauge and Acuity Trading signals matter more to your trading style.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| 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 | No |
Dive deeper: Best Brokers for Forex Research.
Charles Schwab and Trade Nation both offer a solid collection of educational resources tailored for beginners, making them attractive options for novice traders. Charles Schwab provides a comprehensive array of forex and CFD education, including more than ten distinct educational items such as articles, videos, and archived webinars. They go a step further by hosting monthly webinars and maintaining a searchable archive of recorded sessions. This archive is a valuable resource for those who wish to revisit past learning events. Trade Nation also offers beginner-friendly content with a selection of beginner educational videos and articles, but they do not provide monthly webinars or an archive of previous sessions.
Both Charles Schwab and Trade Nation cater to more experienced traders with advanced educational videos, and they both support users with an investor dictionary that defines over 50 investing terms. However, when it comes to educational excellence, Charles Schwab stands out with a perfect 5-star rating from ForexBrokers.com, earning a commendable 6th place ranking among 63 brokers in the Education category. Trade Nation, on the other hand, has a respectable 3.5-star rating, placing it at 41st in the same category. For beginners eager to dive into the world of trading, Charles Schwab's extensive and structured educational offerings make it a more appealing choice compared to Trade Nation.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| 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 Trade Nation. Charles Schwab finished with an overall rank of #6, while Trade Nation finished with an overall rank of #34.
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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Trade Nation
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Both Charles Schwab and Trade Nation do not offer the ability to purchase actual delivered cryptocurrency, but both provide options for trading cryptocurrency derivatives.
Charles Schwab supports bank wires and ACH or SEPA transfers for managing account funds, while Trade Nation allows bank wires and offers flexibility with Skrill, Visa, and Mastercard options, although neither supports PayPal transactions.
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 | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Trade Nation Review |
| Broker Screenshots | Charles Schwab | Trade Nation | |
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| Regulation | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1000 | |
| Forex Pairs (Total) | 73 | 46 | |
| 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.32 | 0.6 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.6 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | Trade Nation | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 14 | |
| Charting - Indicators / Studies (Total) | 374 | 115 | |
| Charting - Drawing Tools (Total) | 24 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Trade Nation | |
|---|---|---|---|
| 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 | No |
| Education | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | Charles Schwab | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Trade Nation Review |
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