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 vs. XM Group: Schwab was founded in 1971, is publicly traded, and operates as a bank; XM Group began in 2009, is not publicly traded, and is not a bank. According to ForexBrokers.com, Schwab holds a Trust Score of 99 and XM Group scores 93—both fall in the 90–99 range, which is considered highly trusted.
Regulation: Schwab holds 5 Tier-1 licenses (highly trusted) and 0 Tier-2 licenses, while XM Group holds 4 Tier-1 and 3 Tier-2 licenses (trusted). In short, Schwab has a larger set of top-tier approvals and the backing of a listed bank, while XM Group is also highly trusted with strong global coverage through multiple Tier-1 and Tier-2 licenses.
| 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 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
For forex commissions and fees, Charles Schwab charges no commission; your cost is the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which sits on the higher side of the market. XM Group’s Standard account is known for higher spreads, and the broker does not publish average spreads for its commission-based XM Zero account, making apples-to-apples cost comparisons harder. Ratings and ranks: Charles Schwab—4 out of 5 stars, ranked 23rd of 63 for Commissions and Fees by ForexBrokers.com; XM Group—3.5 out of 5 stars, ranked 34th of 63.
Schwab gives forex access through thinkorswim, with all trades settling in U.S. dollars. The minimum trade size is 10,000 units, which at 20:1 leverage requires about $500 in margin. If you use the Schwab Global account to trade in local currencies, expect currency conversion fees that range from 0.2% to 1% depending on your balance. Overnight financing (carry) costs are displayed in-platform so you can estimate the price of holding positions.
XM Group’s fees are less transparent: while the Standard account’s spreads tend to be expensive, the broker doesn’t publish average spreads for the XM Zero account, leaving traders to check live quotes to gauge total costs. In short, Schwab offers clear, spread-only pricing (though its EUR/USD spread can be on the higher side), while XM may offer lower costs on Zero in practice but doesn’t provide the same level of published pricing detail. Schwab: 4/5 stars, #23/63; XM Group: 3.5/5 stars, #34/63.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average spread (EUR/USD) - Standard account | 1.27 | 2 |
| All-in Cost EUR/USD - Active | 1.27 | N/A |
| 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: both brokers let you trade forex (CFD or spot) and both provide exchange‑traded securities on U.S. and international exchanges. Schwab stands out for scale, offering about 40,000 tradeable symbols and 73 forex pairs, while XM Group lists about 1,429 symbols and 55 forex pairs. Both support crypto CFDs but not actual cryptocurrencies. Copy trading is available at XM Group, but not at Charles Schwab.
On performance, ForexBrokers.com rates Charles Schwab 5 stars for Range of Investments and ranks it #5 out of 63 brokers. XM Group earns 4.5 stars and ranks #19. In short, Schwab suits investors who want an extensive selection across markets and listed shares, while XM Group can appeal to traders who value copy trading alongside a strong mix of CFDs, forex pairs, and crypto CFDs.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1429 |
| 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 offer free paper (demo) accounts, plus Windows desktop and web-based platforms, and the ability to place trades directly from charts. Schwab stands out for having its own proprietary platform built in-house, but it does not support copy trading or MetaTrader 4/MetaTrader 5. In independent testing by ForexBrokers.com, Schwab’s trading platforms and tools earned 5 stars and ranked #7 out of 63 brokers.
XM Group also provides a demo account, desktop and web platforms, and chart trading. Unlike Schwab, XM supports copy trading and offers MetaTrader 4 and MetaTrader 5, but it does not have a proprietary platform. According to ForexBrokers.com, XM’s trading platforms and tools are rated 4 stars and ranked #27 out of 63. Choose Schwab if you want an in-house platform suite and higher-rated tools, or pick XM 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 full-featured mobile trading apps for iPhone and Android. Each app supports price alerts and lets your watchlists sync between mobile and your online account, so changes show up everywhere. You can draw trendlines on charts in both apps, making it easier to spot patterns while on the go.
The biggest difference is in charting depth and saved work. Charles Schwab includes 374 technical studies compared with 30 on XM Group, and Schwab’s app auto-saves your chart drawings while XM’s does not. In independent testing, Schwab earned 5 stars for Mobile Trading Apps and ranked #6 out of 63 brokers at ForexBrokers.com, while XM Group earned 4 stars and ranked #26. If advanced charting and saved annotations matter to you, Charles Schwab stands out; if you just need the essentials across iPhone and Android with alerts and synced watchlists, XM Group covers the basics.
| 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.
Both Charles Schwab and XM Group deliver strong beginner trading education. Each runs online client webinars at least once a month and provides large libraries with 10+ beginner videos, plus another 10+ advanced videos for when you’re ready to level up. ForexBrokers.com rates both at 5 out of 5 stars for Education, signaling quality content and practical, easy-to-follow lessons.
When you compare them side by side, XM Group holds a slight edge in the rankings: #5 for Education versus Charles Schwab at #6 out of 63 brokers. If you’re just starting out, you’ll find helpful webinars and step-by-step video lessons at either broker; choose based on which teaching style and topic list you prefer, and review each site’s course catalog if you’re seeking forex and CFD topics in particular.
| 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 #16.
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
|
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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| Broker Gallery (click to expand) |
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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 | 3 | |
| 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 (FSA 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) | Yes | ||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or CMA 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 | 1429 | |
| 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 | 1.27 | 2 | |
| All-in Cost EUR/USD - Active | 1.27 | N/A | |
| 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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