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 | 1.32 | 1.6 |
| All-in Cost EUR/USD - Active | 1.32 | 0.8 |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) [DELETED] | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and XM Group both offer forex trading as CFDs or spot contracts, access to cryptocurrency derivatives (but not actual crypto), and the ability to buy exchange-traded securities on both U.S. and international exchanges. For sheer range of investments, Schwab lists about 40,000 tradeable symbols versus XM Group’s 1,394, and provides 73 forex pairs compared with XM’s 55.
Reflecting that breadth, Schwab holds a 5-star rating and ranks #5 of 63 brokers for Range of Investments on ForexBrokers.com, while XM Group earns 4.5 stars and ranks #25. If you want the widest selection of markets and listed securities, Schwab is the stronger pick; if copy trading is a priority, XM Group offers it while Schwab does not. Both cover key asset classes across stocks, forex, and crypto derivatives.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1394 |
| Forex Pairs (Total) | 73 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
Charles Schwab and XM Group both offer free demo accounts for paper trading, along with Windows desktop and web-based platforms where you can place trades directly from charts. The key difference is platform choice: Charles Schwab provides its own in-house platform, while XM Group centers on MetaTrader, supporting both MT4 and MT5. If copy trading matters to you, XM Group offers it; Charles Schwab does not.
For trading platforms and tools, Charles Schwab is rated 5 stars and ranks #5 out of 63 brokers on ForexBrokers.com, while XM Group holds 4 stars and ranks #33. Choose Charles Schwab if you want a highly rated, broker-built platform with a free paper trading account; pick XM Group if you prefer MetaTrader 4/5 and want access to copy trading alongside desktop and web trading.
| 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 |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and XM Group both offer trading apps for iPhone and Android. Each app supports price alerts, real-time quote watchlists, and watchlist syncing between mobile and the online account, so changes carry over. Both apps also let you draw trendlines on charts.
For charting, Schwab includes 374 built-in technical studies versus 30 at XM, and Schwab automatically saves your chart drawings while XM does not. In testing by ForexBrokers.com, Schwab’s mobile apps earned 5 out of 5 stars and ranked 6th out of 63 brokers, while XM received 4 out of 5 stars and ranked 31st. If you value deeper chart tools and saved annotations, Schwab stands out; if you prefer a simpler setup, XM may suit your needs.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | ||
| Mobile Charting - Trendlines Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Client sentiment data | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing trading education at Charles Schwab and XM Group, both brokers deliver a strong start. Each offers at least 10 beginner-focused trading videos and hosts online educational webinars at least once a month, with deeper learning supported by 10+ advanced videos, too. Education quality is top-tier for both—each earns 5 out of 5 stars—while Schwab ranks #6 and XM ranks #7 out of 63 brokers for Education on ForexBrokers.com, signaling excellent learning experiences for new traders.
Some details aren’t specified in the data provided: it’s unclear whether either broker has at least 10 forex- or CFD-specific education pieces, whether they maintain a searchable archive of recorded webinars, or whether they provide an investor dictionary with 50+ terms. If you need forex/CFD lessons or on-demand webinar archives, consider confirming these features directly before choosing between Charles Schwab and XM Group.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | Yes |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) [DELETED] |
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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Both Charles Schwab and XM Group do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for investing in cryptocurrency derivatives.
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. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.32 | 1.6 | |
| All-in Cost EUR/USD - Active | 1.32 | 0.8 | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| 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 | |
| Social Trading / 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 | Yes | Yes | |
| Watchlist 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 | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | 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 | 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 | 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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