Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs XM Group, 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 XM Group are both notable players in the online brokerage industry with strong trust ratings, though they differ in several key areas. Founded in 1971, Charles Schwab is not only a publicly traded company but also operates as a bank, offering it a unique position in the financial services market. It boasts a perfect Trust Score of 99 from ForexBrokers.com, backed by its possession of 5 Tier-1 licenses, which indicates it is considered highly trusted. In contrast, XM Group, which was established in 2009, is not publicly traded and does not function as a bank, yet it still holds a solid Trust Score of 93. XM Group supports its reputation with 4 Tier-1 licenses and an additional Tier-2 license, affirming its credibility and trustworthy operations.
While both Charles Schwab and XM Group excel in maintaining high standards of trust and regulatory approval, they cater to slightly different audiences. Charles Schwab's longstanding presence in the market and its designation as a bank provide users with a high level of reassurance and a comprehensive suite of financial services. Conversely, XM Group, despite its absence from stock exchange listings, remains a trusted choice among investors, especially those who might prioritize the specialized experience it offers in the trading sector. Both companies demonstrate strong regulatory compliance, making them appealing choices for investors seeking reliability and trust in their brokerage platforms.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 4 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and XM Group both earn 4 stars for commissions and fees, yet Schwab ranks #26 of 63 brokers while XM ranks #34, reflecting a slight edge for Schwab in this category. Schwab charges no commission on forex; your cost is the bid/ask spread, with the EUR/USD averaging 1.35 pips in October 2024 (on the higher end of industry norms). XM’s Standard account spreads are described as expensive, and the broker does not publish average spreads for its commission-based XM Zero account, which makes side-by-side price comparisons harder.
Schwab has no minimum deposit for its primary brokerage accounts and grants forex access through Schwab One on the thinkorswim platform. All forex trades settle in U.S. dollars, the smallest trade size is 10,000 units, and at 20:1 leverage that position would require about $500 in margin. If you trade international securities in local currencies through Schwab Global, expect currency conversion fees of roughly 0.2% to 1% depending on your account balance. Schwab also displays overnight financing (carry) charges within thinkorswim so you can estimate holding costs.
Bottom line: Schwab’s fee structure is transparent with spread-only forex pricing and clear tools for overnight costs, though its average spreads can be higher. XM’s Standard spreads are costly, and lack of published averages for XM Zero adds uncertainty. Ratings and ranks: Charles Schwab—4/5 stars, #26 of 63; XM Group—4/5 stars, #34 of 63.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average spread (EUR/USD) - Standard account | 1.32 | 1.6 |
| All-in Cost EUR/USD - Active | 1.32 | 0.8 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Charles Schwab vs XM Group for range of investments, Schwab offers a far wider selection with 40,000 tradeable symbols versus 1,394 at XM. Both support forex trading as CFDs or spot, with Schwab listing 73 forex pairs and XM offering 55. Each broker lets you buy exchange-traded securities on U.S. and international exchanges (think Apple or Vodafone). For digital assets, both provide exposure through cryptocurrency CFDs, but neither supports buying actual, delivered crypto.
On ratings, Schwab earns 5 stars for Range of Investments and ranks #5 out of 63 on ForexBrokers.com, while XM Group holds 4.5 stars and ranks #25. If you want social features, XM offers copy trading (Schwab does not). Choose Schwab if sheer market breadth matters most, and XM if copy trading is a priority alongside access to forex, shares, and crypto CFDs.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1394 |
| Forex Pairs (Total) | 73 | 55 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
Charles Schwab and XM Group both let you practice with a free demo (paper) account and offer trading on Windows desktop and web-based platforms. Schwab provides a proprietary, in-house platform, while XM Group does not. If you want MetaTrader, XM Group supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5); Charles Schwab does not support either. Both brokers let you place trades directly from charts. The exact counts for built-in technical indicators and watchlist columns were not specified.
Feature-wise, XM Group offers copy trading, whereas Charles Schwab does not. For trading platforms and tools, ForexBrokers.com rates Charles Schwab 5 stars (ranked #5 of 63) and XM Group 4 stars (ranked #33 of 63). Consider Charles Schwab if you want a highly rated, proprietary platform experience; choose XM Group if MetaTrader access and copy trading are priorities.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and XM Group offer mobile trading apps for iPhone and Android. Each app supports price alerts and keeps your watchlists synced with your online account, so changes appear across devices. For charting basics, both let you draw trendlines, making it easy to mark levels while on the go.
The key differences show up in charting depth and how drawings are handled. Charles Schwab includes 374 technical studies versus XM Group’s 30, and Schwab automatically saves your chart drawings, while XM Group does not. Reflecting these contrasts, Schwab earned 5 stars and ranks #6 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com; XM Group holds 4 stars and ranks #31. If you want extensive indicators and saved annotations, Schwab is the stronger pick; if you need essentials for straightforward mobile trading, XM Group fits the bill.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Charles Schwab vs. XM Group for market research: Both brokers provide daily market commentary, top-tier forex news (e.g., Bloomberg, Reuters, Dow Jones), and an economic calendar for global events. Neither offers tools from Autochartist, TipRanks, or Acuity Trading. Each earned a 5-star Research rating; ForexBrokers.com ranks Charles Schwab #5 and XM Group #8 out of 63 brokers for Research.
The biggest difference is in specialized tools. XM Group includes Trading Central analytics and a sentiment tool that shows the ratio of long vs. short positions, helping you gauge market mood and spot ideas. Charles Schwab does not offer Trading Central or a sentiment tool but delivers premium news and daily insights. Pick XM if you want integrated signals and sentiment, or Charles Schwab if you prioritize high-quality news and commentary.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing Charles Schwab and XM Group, both online brokers excel at trading education. Each offers monthly educational webinars and more than 10 beginner-friendly videos that cover core trading concepts, plus 10+ advanced videos for when you’re ready to level up. ForexBrokers.com rates both brokers 5 stars for Education; among 63 brokers, Charles Schwab ranks #6 and XM Group ranks #7, giving Schwab a slight edge in overall placement while keeping the two very close for learning quality.
If you’re seeking forex or CFD-specific training, review each broker’s education library to confirm the number of dedicated lessons that match your interests (for example, at least 10 pieces focused on forex/CFDs). Otherwise, beginners will find strong, ongoing support at either broker through frequent webinars and sizable video catalogs that make it easy to start with the basics and progress to advanced topics.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 XM Group. Charles Schwab finished with an overall rank of #6, while XM Group finished with an overall rank of #17.
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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XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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Online brokers Charles Schwab and XM Group both do not offer purchasing actual (delivered) cryptocurrencies, but each provides cryptocurrency CFDs, allowing traders to speculate on crypto prices without owning the underlying asset.
In a Charles Schwab vs XM Group comparison of deposit and withdrawal options, Charles Schwab supports ACH/SEPA and bank wires while XM Group supports Skrill and bank wires; neither supports PayPal, and Visa/Mastercard availability is not specified.
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 | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | XM Group Review |
| Broker Screenshots | Charles Schwab | XM Group | |
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| Regulation | Charles Schwab | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1971 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 4 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | XM Group | |
|---|---|---|---|
| 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 | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1394 | |
| Forex Pairs (Total) | 73 | 55 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | XM Group | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.32 | 1.6 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.8 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Charles Schwab | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | Charles Schwab | XM Group | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Charles Schwab | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Charles Schwab | XM Group | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | XM Group | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Charles Schwab | XM Group | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Charles Schwab Review | XM Group Review |
| Overall | Charles Schwab | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | XM Group Review |
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