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.
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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 |
When it comes to commissions and fees, Charles Schwab and XM Group are two formidable contenders in the realm of online brokerage. Charles Schwab offers a welcoming approach with no minimum deposit requirements for its primary brokerage accounts, making forex trading accessible through accounts like Schwab One and Schwab Global. While Schwab does not charge commissions on forex trading, costs manifest through the bid/ask spread, averaging 1.35 pips for EUR/USD in October 2024. For those opting for the Schwab Global account, additional fees apply when trading in local currencies, ranging from 0.2% to 1% based on account balance size. Schwab’s transparent cost utilities, such as overnight carry charge calculators, complement their offerings.
XM Group, on the other hand, offers standard accounts that lean towards higher spreads, with no published average spreads for their XM Zero accounts. This can introduce some ambiguity, which might be a consideration for budget-conscious traders. Despite this, XM Group holds its ground with a solid reputation in the industry, paralleling Charles Schwab’s ratings in the commissions and fees domain.
Both brokers earn a respectable 4-star rating for commissions and fees. However, Charles Schwab holds a slightly better position in the rankings by ForexBrokers.com, coming in at #24 out of 63 brokers, whereas XM Group is positioned at #33. This comparison highlights Schwab's edge in creating a user-friendly experience without sacrificing fee transparency, while XM Group maintains competitive standings thanks to its solid service offerings.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 1.35 | 1.6 |
| All-in Cost EUR/USD - Active | 1.35 | 0.8 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| 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 and XM Group both offer a varied selection of investment options, making them popular choices for online trading enthusiasts. At Charles Schwab, you can access a staggering range of 40,000 tradeable symbols, including 73 forex pairs. The broker allows the trading of both U.S. and international securities, with options to invest in globally recognized companies. Additionally, Charles Schwab provides the ability to trade in cryptocurrency derivatives, though it doesn't support the purchase of actual cryptocurrencies or offer copy trading features. This extensive range of investment options contributes to its high rating of 5 stars and a prestigious ranking of number 5 in the Range of Investments category by ForexBrokers.com.
In contrast, XM Group offers a more streamlined selection with 1,394 tradeable symbols and 55 forex pairs available for trading. Like Charles Schwab, XM Group provides access to trading securities on both U.S. and international exchanges, supporting investments in companies such as Apple's shares. XM Group also offers cryptocurrency derivatives but not actual cryptocurrencies. A notable feature of XM Group is its support for copy trading, allowing investors to mirror the trades of others. Despite a slightly smaller range of options, XM Group is well-regarded with a 4.5-star rating and maintains a respectable rank of number 24 in the investment range category on ForexBrokers.com.
| 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.
When comparing the trading platforms and tools offered by Charles Schwab and XM Group, both brokers cater to the needs of varying traders by providing simulated trading through virtual demo accounts. Charles Schwab distinguishes itself with a proprietary platform developed in-house, a feature XM Group lacks, as it relies primarily on popular third-party platforms like MetaTrader 4 and 5. Both companies offer web-based platforms and desktop downloads for Windows users. However, in terms of variety, Schwab offers a comprehensive desktop experience paired with the ability to trade directly from stock charts and an impressive 580 fields for watch lists, far surpassing XM Group’s seven.
On the other hand, XM Group excels in offering copy trading, a feature Schwab does not provide, along with access to widely favored MetaTrader platforms, which supports traders who prefer these specialized tools. For technical chart users, Schwab offers more drawing tools, with 24 options compared to XM Group's 15. Assessments by ForexBrokers.com rank Schwab higher at #5 out of 63 brokers in the Trading Platforms and Tools category, rewarding it with a 5-star rating, while XM Group holds the #32 spot with a 4-star score. This evaluation underscores Schwab’s leading edge in offering a more comprehensive platform with diverse tools, suited for detailed and expansive trading activities.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary 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 | No | No |
| 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.
When comparing the mobile trading apps of Charles Schwab and XM Group, both brokers provide excellent options for iPhone and Android users. They offer essential features like stock and forex price alerts, watchlist syncing, and the ability to draw trendlines on charts. However, Charles Schwab significantly stands out with its offer of 374 technical studies for charting, while XM Group provides just 30. Both apps allow users to view multiple time frames on charts and create watchlists with real-time quotes, which are crucial for active traders.
Charles Schwab's app takes a decisive lead with the ability to auto-save chart drawings and boasts a top-tier user rating of 5 stars, compared to XM Group’s 4 stars. This edge is reflected in its higher ranking of 6th place out of 63 brokers on ForexBrokers.com, while XM Group sits at 30th. Consequently, for those seeking more advanced charting tools and a higher-rated mobile experience, Charles Schwab appears to be the favored option.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and XM Group both provide solid research offerings, including daily market commentary and access to forex news from respected sources like Bloomberg and Reuters. While both brokers are equipped with economic calendars for prospective global events, XM Group provides a slight edge in additional tools with Trading Central analytics and a sentiment-based trading tool. This extra layer of information can be particularly helpful for traders looking to gauge market sentiment and make informed decisions across various currency pairs.
Despite differences in supplementary tools, both brokers excel in research capabilities, each earning a perfect five-star rating for research. In terms of overall ranking in the research category by ForexBrokers.com, Charles Schwab slightly outpaces XM Group, ranking 4th compared to XM Group's 8th place out of 63 brokers. This shows that investors seeking comprehensive market analysis will find quality resources with either platform, though Charles Schwab holds a slight lead in overall evaluation.
| 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 |
| 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 comparing the educational resources offered by Charles Schwab and XM Group for beginners, both platforms provide an excellent range of materials to help newcomers to trading. Charles Schwab and XM Group both offer over 10 educational pieces dedicated to forex and CFDs, ensuring a comprehensive learning experience for those wanting to delve into trading these financial instruments. In addition, both brokers organize at least one educational webinar each month and maintain searchable archives of past webinars, allowing traders to learn at their own pace. Both companies also boast more than 10 beginner videos specifically designed to introduce key trading concepts to novices.
For more seasoned traders, both Charles Schwab and XM Group provide over 10 advanced educational videos to build on existing knowledge. A point of difference, however, is Charles Schwab's inclusion of a robust investor dictionary with over 50 investing terms, which is not offered by XM Group. Rated with five stars for their educational offerings, Charles Schwab ranks 6th, just ahead of XM Group which holds the 7th position out of 63 brokers according to ForexBrokers.com. This positions both as leading options for traders looking to expand their skills and understanding through structured educational content.
| Feature |
Charles Schwab
|
XM Group
|
|---|---|---|
| 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 | No |
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.
Charles Schwab supports ACH or SEPA transfers and bank wires for depositing or withdrawing account funds, while XM Group also facilitates bank wires but uniquely provides options like Skrill, Visa, and Mastercard, unlike Charles Schwab; neither broker supports transactions via PayPal.
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/Central Bank 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 | 1.35 | 1.6 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.8 | |
| Active Trader or VIP Discounts | No | No | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | XM Group | |
|---|---|---|---|
| Proprietary 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 | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile 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 | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | XM Group | |
|---|---|---|---|
| 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 | No |
| 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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