Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Axi, 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, established in 1971, stands as a notable player in the world of online brokerage. Being publicly traded and operating as a bank, it holds significant credibility with a total of five Tier-1 licenses, indicating a high level of trust. This is reflected in its top-tier Trust Score of 99 from ForexBrokers.com, suggesting that it is incredibly reliable. Charles Schwab's robust regulatory framework underscores its secure and dependable service, making it a prime choice for those seeking assurance and stability in their financial dealings.
In contrast, Axi was founded in 2007 and, although not publicly traded or operating as a bank, it still garners attention with its commendable Trust Score of 82 from ForexBrokers.com. Axi's regulatory standing includes two Tier-1 licenses and one Tier-2 license, indicative of a trusted platform though slightly less so than Charles Schwab. While Axi may not offer the same level of prestige as Charles Schwab, it remains a solid option for those considering alternative brokerages with good trust parameters.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Year Founded | 1971 | 2007 |
| 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 | 1 |
When it comes to commissions and fees, Charles Schwab provides a competitive landscape for forex trading with no minimum deposit requirement, making it accessible for beginners. Schwab offers the Schwab One and Schwab Global accounts, both of which support forex trading through the thinkorswim platform. Trading with Schwab does not incur any commissions on forex trades; instead, users encounter costs via the bid/ask spread. For example, the EUR/USD pair had an average spread of 1.35 pips in October 2023, higher than the industry average. The thinkorswim platform includes a built-in calculator to help estimate overnight carrying costs, which is a helpful tool for traders. Schwab is rated 4 stars out of 5 for its commissions and fees, ranking #23 out of 62 brokers on ForexBrokers.com.
Axi, in comparison, lacks specific average spread data in its public disclosures, which can be a potential drawback for traders looking for transparency in trading costs. Like Schwab, Axi also charges trading costs primarily through spreads. Although Axi shares the same 4-star rating for commissions and fees, it ranks lower at #44 out of 62 brokers on ForexBrokers.com. This lower ranking might suggest a less favorable fee structure or additional costs that are not as immediately clear to the user.
Overall, while both Charles Schwab and Axi earn a respectable 4-star rating, Schwab seems to offer more detailed information about its costs, particularly with the assistance of the thinkorswim platform's calculators and resources. This can result in a more informed trading experience for users. However, traders should consider their specific needs, such as the types of accounts offered, market access, and cost transparency, when choosing between these two brokers.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| 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.
When comparing the range of investment options between Charles Schwab and Axi, it becomes clear that Charles Schwab offers a more extensive selection. Schwab presents an impressive array of 40,000 tradeable symbols and features 73 currency pairs for forex trading. In contrast, Axi offers 175 tradeable symbols with access to 65 forex pairs. Charles Schwab gives its clients the opportunity to invest in exchange-traded securities on both U.S. and international exchanges, whereas Axi does not provide this capability. For cryptocurrency enthusiasts, both platforms enable trading in crypto derivatives rather than actual cryptocurrencies. While Charles Schwab does not offer copy trading, Axi appeals to those interested in this feature.
Charles Schwab's broad spectrum of investment choices earns it a 5-star rating for range of investments and a high rank of 5th out of 62 brokers, as noted by ForexBrokers.com. Meanwhile, Axi is rated 3.5 stars and ranked 55th in the same category. These substantial differences highlight Charles Schwab's ability to cater to diverse investment preferences and provide clients with comprehensive market exposure, giving it an edge over Axi in the variety of investment offerings.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 175 |
| Forex Pairs (Total) | 73 | 65 |
| 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.
Charles Schwab and Axi both provide online trading platforms with the ability to practice trading via simulated demo accounts, catering to both beginners and seasoned traders. Charles Schwab stands out with its in-house developed proprietary platform, offering a Windows-based desktop download and a web-based application. It provides users with extensive feature options like trading directly from a stock chart and comprehensive watch lists with 580 columns. Schwab is highly rated with five stars for its trading tools, and ranks fifth among 62 brokers by ForexBrokers.com.
On the other hand, Axi relies on the popular MetaTrader 4 platform, offering flexibility through web and Windows-based platforms. MetaTrader 4 integration allows for copy trading and offers compatibility with third-party platforms like ZuluTrade, which enhances social trading experiences. Although Axi features a lower number of technical tools, such as 15 drawing tools and a simpler watch list with seven columns, it remains a versatile choice for traders who favor established platforms. Despite being ranked 62nd by ForexBrokers.com, Axi earns a rating of 3.5 stars for its trading platforms and tools.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| 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 it comes to mobile trading apps, both Charles Schwab and Axi have offerings available for iPhone and Android users. They provide essential features such as stock and forex price alerts, along with the ability to view charts across multiple time frames. However, Charles Schwab takes the lead with more advanced options, like syncing watchlists with your online account and auto-saving chart drawings, whereas Axi lacks these functionalities. With a whopping 374 technical studies available for charting, Charles Schwab offers significantly more charting flexibility compared to Axi's 30 options.
Both companies allow users to draw trendlines and create watchlists with real-time quotes on their mobile apps, which can enhance the trading experience. However, Charles Schwab stands out in terms of user satisfaction, boasting a perfect 5-star rating and placing 6th out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com. On the other hand, Axi holds a 3.5-star rating and is ranked 59th, indicating room for improvement in user experience.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For individuals seeking comprehensive market insights, Charles Schwab stands out in the arena of online brokers with its robust offerings. Schwab provides daily market commentary and accesses forex news from esteemed sources such as Bloomberg and Reuters, ensuring traders are consistently updated with high-quality information. Additionally, Schwab features an economic calendar that covers global news events, aiding traders in making informed decisions. With these advantages, Charles Schwab has earned a five-star research rating and a prestigious 4th place ranking among 62 brokers by ForexBrokers.com.
In comparison, Axi provides a mixed array of resources for market research, covering forex news from top-tier sources similar to those offered by Schwab. Axi distinguishes itself by offering technical analysis tools from Autochartist and a sentiment-based trading tool, giving users a unique edge in strategy development. Despite these features, Axi does not offer daily market commentary and falls short in additional research tool offerings compared to Schwab. Consequently, Axi is rated with three stars for research and ranks much lower, at 55th position, by ForexBrokers.com. This portrays a stark comparison in the research capabilities and rankings between Charles Schwab and Axi.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| 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 offerings for beginners from Charles Schwab and Axi, both online brokers provide a solid foundation with more than 10 educational resources focused on forex or CFDs. This includes articles, videos, and archived webinars. Both companies also host at least one online educational webinar each month, catering to new traders. However, Charles Schwab goes a step further with a searchable archive of previously recorded webinars, allowing beginners to easily revisit past content. In terms of video tutorials, both brokers provide at least 10 comprehensive videos geared specifically towards beginners, ensuring that new traders have access to foundational trading knowledge.
For those seeking more advanced educational content, Charles Schwab stands out by offering more than 10 advanced trading videos, while Axi does not meet this criteria. Both brokers include an investor dictionary with over 50 terms, helping users understand essential trading jargon. Overall, Charles Schwab is rated higher in education with a 5-star rating compared to Axi's 3 stars. Additionally, Charles Schwab holds a higher ranking at number 6 out of 62 brokers for educational resources according to ForexBrokers.com, while Axi is ranked at number 26. This suggests that Charles Schwab might be the better option for beginners seeking comprehensive educational support.
| Feature |
Charles Schwab
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Charles Schwab is better than Axi. Charles Schwab finished with an overall rank of #6, while Axi finished with an overall rank of #49.
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
|
Axi
|
|---|---|---|
| Overall Rating |
|
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| Trust Score | 99 | 82 |
| Range of Investments |
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Both Charles Schwab and Axi do not provide the option to purchase actual cryptocurrencies (delivered), but they do offer the ability to trade cryptocurrency derivatives, rather than the actual digital currencies.
When comparing online brokers Charles Schwab and Axi, Charles Schwab supports ACH or SEPA transfers and bank wires for depositing or withdrawing account funds but does not offer PayPal, Skrill, Visa, or Mastercard options, whereas Axi allows Skrill, Visa, Mastercard, and bank wire transactions but does not support ACH or SEPA transfers or 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 | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | Axi | |
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| Regulation | Charles Schwab | Axi | |
|---|---|---|---|
| Trust Score | 99 | 82 | |
| Year Founded | 1971 | 2007 | |
| 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 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 175 | |
| Forex Pairs (Total) | 73 | 65 | |
| 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 | Axi | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Axi | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Axi | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Charles Schwab | Axi | |
|---|---|---|---|
| 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 | Axi | |
|---|---|---|---|
| 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 | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Axi | |
|---|---|---|---|
| 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 |
| Overall | Charles Schwab | Axi | |
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| Trust Score | 99 | 82 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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