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.
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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 |
Charles Schwab offers a competitive, commission-free environment for forex trading, supported by its Schwab One and Schwab Global accounts with no minimum deposit requirement. With access to the thinkorswim platform, traders can engage in forex trades directly in U.S. dollars, though the minimum trade size is 10,000 units. Schwab's Global account extends this access by enabling trading across twelve international markets in local currencies, albeit with conversion fees ranging from 0.2% to 1%. While Schwab's trading costs are composed of bid/ask spreads, its EUR/USD average spread of 1.35 pips is on the higher end of the industry spectrum. Charles Schwab scores 4 stars for its commissions and fees, ranking #23 out of 63 brokers according to ForexBrokers.com.
Vantage tailors its trading costs based on account type, offering the Standard STP account with typical spreads of 1.30 pips on the EUR/USD, while its RAW ECN account offers more competitive spreads of 0.15 pips plus a $6 round turn commission. The PRO ECN account stands out with a $4 round turn commission, but requires higher funding or qualification criteria depending on the regulating entity. Vantage's active trader program provides escalating rebates for higher balances and volumes, though it's exclusive to Standard accounts with higher spreads. Rated 4.5 stars, Vantage ranks #19 for commissions and fees among 63 brokers as reported by ForexBrokers.com.
In summary, while Charles Schwab presents a low-barrier forex trading option with significant platform capabilities through thinkorswim, Vantage offers more varied account types that address different budget and trading volume needs. Each broker has distinct advantages, with Schwab suited for those looking for a straightforward, commission-free model, and Vantage appealing to traders who prefer tighter spreads and customizable pricing structures. Both brokers maintain high rankings for their competitive offerings, ensuring traders can find a suitable option based on their specific trading requirements.
| 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.
When comparing Charles Schwab and Vantage, it's clear that both online brokers cater to different investor needs with their variety of investment options. Charles Schwab impresses with a massive selection of 40,000 tradable symbols, including exchange-traded securities on both U.S. and international exchanges. This allows clients to buy popular stocks like Apple on the NASDAQ or Vodafone on the London Stock Exchange. Additionally, Schwab provides access to 73 forex pairs and offers cryptocurrency derivatives, though it lacks the ability to buy actual cryptocurrencies. Despite not supporting copy trading, its extensive range of investment options earns Charles Schwab a 5-star rating and a commendable rank of #5 out of 63 brokers in the Range of Investments category, according to ForexBrokers.com.
Vantage, on the other hand, offers a smaller yet focused range of investment opportunities with 1,000 tradable symbols, including 61 forex pairs. Though it does not provide exchange-traded securities on U.S. or international exchanges, it does offer forex trading as CFDs or spot contracts and supports cryptocurrency derivatives. An attractive feature for some investors is Vantage's copy trading function, enabling users to mimic the trades of experienced investors. However, when it comes to the overall range of investments, Vantage receives a 3.5-star rating and ranks #50 by ForexBrokers.com, reflecting its more limited selection compared to Charles Schwab.
| 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.
Both Charles Schwab and Vantage offer mobile trading apps for iPhone and Android devices. Each app allows users to receive price alerts and create watchlists with real-time quotes. However, Charles Schwab distinguishes itself by providing the convenience of watchlist syncing, enabling changes made on the mobile app to automatically update on the client’s online account. Vantage lacks this feature, which might be crucial for traders who need seamless accessibility across devices. When it comes to charting tools, Charles Schwab offers a significantly higher number of technical studies, with 374 options compared to Vantage's 30. Both platforms allow users to draw trendlines and view multiple time frames on their charts, as well as auto-save drawings for continued analysis.
Evaluations of these apps reveal that Charles Schwab has an impressive 5-star rating for its mobile trading capabilities, whereas Vantage holds 4 stars. Rankings from ForexBrokers.com further highlight their differences, placing Charles Schwab at number 6 out of 63 brokers and Vantage at number 28 for mobile app performance. As a result, Charles Schwab's mobile app might be more appealing to those who prioritize advanced charting features and seamless watchlist integration. Meanwhile, Vantage provides the essential trading tools with a slightly lower overall ranking, which could suffice for those seeking straightforward mobile trading functions.
| 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.
Charles Schwab and Vantage both provide daily market commentary and deliver forex news from top-tier sources including Bloomberg and Reuters, enhancing their offerings for informed trading. However, when it comes to specialized research tools, Vantage outpaces Charles Schwab, as it includes tools from Autochartist and Trading Central, which can be crucial for technical and fundamental analysis. Furthermore, Vantage offers a sentiment-based trading tool, enabling users to gauge market positions across currency pairs, a feature unavailable with Charles Schwab. Despite these advantages, both brokers are on par when it comes to offering an economic calendar to keep traders informed of global events.
In terms of overall research ratings, Charles Schwab takes a lead with a perfect 5-star rating from industry reviewers, positioning it at rank #4 out of 63 brokers according to ForexBrokers.com, a reputable source in the trading sector. Conversely, Vantage holds a commendable 4-star rating, with its position being slightly lower at rank #21 in the same category. This distinction underscores Charles Schwab's broader appeal and reliability for investors seeking comprehensive research capabilities, despite Vantage's edge in specific analytic tools.
| 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 | 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 | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | Vantage | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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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