Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Vantage, 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 Vantage are two notable online brokers with distinct backgrounds and trust factors. Founded in 1971, Charles Schwab is well-established and publicly traded, operating as both a brokerage and a bank. It holds the highest Trust Score rating of 99 from ForexBrokers.com and boasts five Tier-1 licenses, indicating a high level of regulatory trust. Meanwhile, Vantage, founded in 2009, is not publicly traded and does not operate as a bank. It has a Trust Score of 90, reflecting a strong reputation, and is regulated with two Tier-1 licenses. Additionally, Vantage holds one Tier-2 license, showcasing its commitment to maintaining regulatory standards.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| 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 | 3 |
Comparing commissions and fees, Vantage generally offers lower all‑in forex costs than Charles Schwab if you qualify for its commission-based ECN accounts. Schwab charges no forex commissions, but pricing is spread-only; its average EUR/USD spread in October 2024 was 1.35 pips, which sits on the higher side of the industry. By contrast, Vantage’s Raw ECN listed average spreads of 0.15 pips plus $3 per side ($6 round turn) in March 2023—about 0.75 pips all-in—and its PRO ECN cuts the commission to $2 per side ($4 round turn) for eligible clients. Overall, Vantage’s pricing is around the industry average but not at the very lowest end. Ratings and rankings: Vantage 4.5/5 stars, ranked #20 of 63; Charles Schwab 4/5 stars, ranked #25 of 63.
Charles Schwab has no minimum deposit for its primary brokerage accounts, giving easy entry to forex via the thinkorswim platform through a Schwab One account. All trades settle in U.S. dollars, and the smallest trade size is 10,000 units—about $500 minimum margin at 20:1 leverage. You can trade international securities in USD with Schwab One, but placing orders in a foreign currency requires a phone call to Schwab. The Schwab Global account 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 a handy calculator within thinkorswim.
Vantage’s costs vary by account type and the Vantage entity that holds your account. The Standard STP account is spread-only, with typical EUR/USD spreads of 1.30 pips (March 2023). The Raw ECN account averages 0.15 pips plus a $3-per-side commission, while the PRO ECN lowers that to $2 per side but requires eligibility (for example, wholesale-client status in Australia or a $10,000 minimum under the Cayman entity). Vantage also offers an active trader program with rebates of $2–$8 per standard lot based on balance and monthly volume, though it applies only to the Standard account, which has the highest spreads of the three.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.35 | 1.30 |
| All-in Cost EUR/USD - Active | 1.35 | 0.75 |
| Active Trader or VIP Discounts | No | Yes |
| 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 vs Vantage for range of investments: Schwab offers 40,000 tradeable symbols and 73 forex pairs, while Vantage provides 1,000 symbols and 61 forex pairs. Both brokers support forex trading as CFDs or spot, and both let you trade cryptocurrency via derivatives; neither offers buying actual (delivered) crypto.
Schwab also provides exchange-traded securities on both U.S. and international exchanges—so you can buy shares like Apple (NASDAQ: AAPL) and Vodafone (London)—whereas Vantage does not offer exchange-traded stocks. Vantage does, however, offer copy trading (Schwab does not). According to ForexBrokers.com, Schwab earns 5 out of 5 stars and ranks #5 of 63 for Range of Investments, while Vantage scores 3.5 out of 5 stars and ranks #51. Pick Schwab for a wide menu of markets and listed shares; choose Vantage if you prefer a CFD-focused setup with copy trading.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1000 |
| Forex Pairs (Total) | 73 | 61 |
| 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 comparing the trading platforms and tools of Charles Schwab and Vantage, both brokers offer simulation trading with free virtual demo accounts, allowing investors to practice without risk. They each provide proprietary trading platforms developed in-house, as well as Windows-based desktop and web-based trading platforms for versatile access. However, Vantage takes the lead in offering copy trading and supports advanced platforms like MetaTrader 4 and 5, along with DupliTrade, which are not available with Charles Schwab. In terms of trading directly from stock charts, both brokers offer this feature, enabling more intuitive trading experiences.
Charting tools are notably different between the two, with Charles Schwab offering 24 drawing tools compared to Vantage's 15. Additionally, Charles Schwab's platform shines with a comprehensive watch list feature supporting up to 580 columns, vastly surpassing Vantage's 7 columns. This thorough approach is reflected in the broker's rating, as Charles Schwab earns a perfect five stars for its trading platforms and tools, while Vantage holds a lower rating of four stars. In rankings by ForexBrokers.com, Charles Schwab stands strong at #5 among 63 brokers, while Vantage ranks at #21, indicating Charles Schwab's broader capabilities and investor appeal in this category.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | Yes |
| 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.
Charles Schwab and Vantage both offer full-featured mobile trading apps for iPhone and Android, with price alerts, real-time quote watchlists, and solid charting tools. You can draw trendlines, switch between multiple time frames, and your chart drawings auto-save on both apps. One key difference: Schwab syncs your watchlists across mobile and your online account, while Vantage does not.
For chart analysis, Schwab provides far more depth with 374 technical studies versus Vantage’s 30. That extra variety can help if you rely on detailed indicators for trading decisions. According to ForexBrokers.com, Schwab’s mobile app earns 5 stars and ranks #6 out of 63 brokers, while Vantage scores 4 stars and ranks #29. In short, pick Schwab if you want broader analysis tools and synced watchlists; choose Vantage if you’re comfortable with essential charting and alerts.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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 Vantage provide daily market commentary and access to forex news from reputable sources like Bloomberg and Reuters. While each broker offers an economic calendar to keep traders updated on global events, they diverge when it comes to technical analysis tools. Vantage stands out with its inclusion of Autochartist and Trading Central, providing users with advanced analysis capabilities that Charles Schwab lacks. Furthermore, Vantage offers a sentiment-based trading tool, which can help traders gauge market trends and make informed decisions, a feature that Charles Schwab does not offer.
When it comes to market research ratings, Charles Schwab leads with a five-star rating and ranks fourth out of 63 brokers on ForexBrokers.com, showcasing its strength in providing high-quality research. In comparison, Vantage holds a respectable four-star rating but ranks 22nd in the same category. Both brokers do not offer research tools from Acuity Trading or market research from TipRanks. Overall, Charles Schwab edges ahead in the research category, providing a more comprehensive service for users prioritizing in-depth market analysis.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources, both Charles Schwab and Vantage offer a variety of materials to help beginners understand forex and CFDs. They each provide at least 10 educational pieces focused on these topics and host online client webinars monthly. In addition, both platforms maintain an easily searchable archive of previously recorded webinars, ensuring that learners can revisit crucial information when needed. Charles Schwab and Vantage also cater to beginners with at least 10 educational videos covering basic trading topics, providing a solid foundation for those new to trading.
While both brokers offer educational resources suited for beginners and more experienced traders, Charles Schwab takes a slight edge. It has an educational rating of 5 stars and ranks 6th among 63 brokers according to ForexBrokers.com, compared to Vantage, which holds a 4-star rating and ranks 24th. Both platforms offer a dictionary with over 50 investing terms, but beginners looking for top-tier educational support might find Charles Schwab's offerings more beneficial.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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 Vantage. Charles Schwab finished with an overall rank of #6, while Vantage finished with an overall rank of #26.
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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Vantage
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 90 |
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Both Charles Schwab and Vantage do not offer the option to purchase actual (delivered) cryptocurrency, but they do provide opportunities to invest in cryptocurrency derivatives.
When comparing online brokers, Charles Schwab and Vantage, it's important to note that Charles Schwab supports ACH and SEPA transfers, as well as bank wires, for account transactions but does not accommodate PayPal, Skrill, or Visa/Mastercard, whereas Vantage provides flexibility with PayPal, Skrill, Visa, and Mastercard options, alongside bank wires, yet lacks support for ACH and 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 | Vantage | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Vantage Review |
| Broker Screenshots | Charles Schwab | Vantage | |
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| Regulation | Charles Schwab | Vantage | |
|---|---|---|---|
| Trust Score | 99 | 90 | |
| Year Founded | 1971 | 2009 | |
| 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 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA/Central Bank Authorised) | No | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | Vantage | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1000 | |
| Forex Pairs (Total) | 73 | 61 | |
| 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 | Vantage | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.30 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.75 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Vantage | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| 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 | Vantage | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | Yes | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage Review |
| Overall | Charles Schwab | Vantage | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Vantage Review |
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