Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs BlackBull Markets, 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.
When it comes to online brokers, Charles Schwab and BlackBull Markets offer investors distinct advantages and considerations, particularly in terms of trust and regulation. Founded in 1971, Charles Schwab is not only a publicly traded company but also operates as a bank. It boasts a Trust Score of 99 out of 99 according to ForexBrokers.com, indicating a high level of trust among investors. This is reinforced by its possession of five Tier-1 licenses, representing the highest level of regulatory approval and investor confidence.
In contrast, BlackBull Markets, founded in 2014, is a private entity and does not function as a bank. Its ForexBrokers.com Trust Score stands at 78, which is considered average risk. BlackBull Markets maintains a single Tier-1 license, allowing for some regulatory assurance but not at the same level as Charles Schwab. While both brokers serve their clients' needs, Charles Schwab offers a greater degree of regulatory backing and public accountability compared to BlackBull Markets.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Charles Schwab to BlackBull Markets in terms of commissions and fees, both brokers offer unique advantages for forex traders. Charles Schwab stands out with its lack of a minimum deposit requirement for the Schwab One account, making it accessible for traders at all levels. This account allows forex trading through the thinkorswim platform and settles trades in U.S. dollars, with the smallest trade size starting at 10,000 units at a minimum margin of $500. Traders should be aware that Schwab’s trading costs come from the bid/ask spread, with the average EUR/USD spread at 1.35 pips, which is comparably high. Schwab holds a 4-star rating in this category and is ranked #23 out of 62 brokers by ForexBrokers.com.
BlackBull Markets offers competitive options for forex trading through three distinct account types. The Standard account has no commission fees, making it attractive for beginners, though it has wider spreads. The Prime account, preferred by many, features lower spreads at an average EUR/USD spread of 0.16 pips and incurs additional costs like a $6 commission per 10,000 traded. It requires a $2,000 minimum deposit. BlackBull’s ECN Institutional account is designed for active traders, demanding at least a $20,000 deposit, offering even lower commissions of $4 per round turn. BlackBull Markets receives a 4.5-star rating, ranked #18 for commissions and fees by ForexBrokers.com.
In conclusion, while Charles Schwab provides a user-friendly entry into forex trading with easy access via their Schwab One and Global accounts, BlackBull Markets appeals more to those who can meet the account minimums and prefer tighter spreads and structured commissions. Ultimately, the choice between these brokers will depend on the trader's financial capacity, trading strategy, and preference for account features.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | 0.71 |
| All-in Cost EUR/USD - Active | 1.35 | 0.71 |
| 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 Charles Schwab and BlackBull Markets, both online brokers offer an impressive range of investment options, with Charles Schwab having a slight edge in terms of the number of tradeable symbols. Charles Schwab provides access to 40,000 tradeable symbols, while BlackBull Markets offers 26,000. In terms of forex trading, both brokers support forex trading as CFDs or spot contracts, with Charles Schwab offering 73 tradeable forex pairs compared to BlackBull Markets' 72. Both platforms enable users to trade exchange-traded securities on U.S. and international exchanges, allowing clients to buy shares like Apple or Vodafone. Additionally, both offer cryptocurrency derivatives but not actual delivered cryptocurrencies.
While both brokers offer a strong range of investments, there are some differences in features. Charles Schwab does not support copy trading, but BlackBull Markets does. Despite these differences, both platforms are highly rated, with each receiving a 5-star rating for their range of investments. According to ForexBrokers.com, Charles Schwab is ranked at #5, while BlackBull Markets follows closely behind at #6 among 62 brokers in the range of investments category. This indicates that both brokers provide substantial offerings that cater to diverse investor strategies.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 26000 |
| Forex Pairs (Total) | 73 | 72 |
| 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 BlackBull Markets both cater to the needs of traders with their versatile platforms and tools, but they offer distinct experiences. Charles Schwab offers a comprehensive selection of trading solutions featuring a proprietary, in-house developed platform, along with a simulated trading option for beginners. With a Windows-based desktop platform and a web-based trading option, Charles Schwab covers both seasoned and novice trader needs, providing the ability to trade directly from stock charts. Additionally, Schwab impresses with 580 columns for customized watch lists and an extensive range of 24 drawing tools. Although lacking copy trading and support for MetaTrader 4 and 5, it secures a perfect rating of 5 stars for its overall trading experience and ranks #5 among 62 brokers for its trading platforms and tools.
BlackBull Markets sets itself apart by supporting popular third-party platforms such as MetaTrader 4 and 5 while offering copy trading through ZuluTrade, appealing widely to forex and social traders. Though it lacks a proprietary platform, BlackBull Markets compensates beginners with a demo account and offers both desktop and web-based platforms for trading straight from charts. The platform boasts an impressive array of 60 drawing tools for charting, yet remains relatively limited with watch lists, offering only 6 columns. While it hasn't reached the upper echelon of brokerage rankings, BlackBull Markets still garners a respectable 4-star rating and is placed at #28 in trading platform and tool rankings by ForexBrokers.com.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 374 | 109 |
| Charting - Drawing Tools (Total) | 24 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Charles Schwab and BlackBull Markets provide options for iPhone and Android users, ensuring accessibility on the go. Both platforms allow users to receive price alerts for stocks or forex, keep their watchlists synchronized with their online accounts, draw trendlines, view various time frames on charts, and auto-save chart drawings. However, Charles Schwab offers a more comprehensive experience for technical analysis with 374 charting studies compared to BlackBull Markets' 30. Moreover, both apps offer the feature of creating watchlists with real-time quotes, keeping traders informed and up-to-date.
In terms of ratings, Charles Schwab’s mobile app stands out with a 5-star rating, reflecting its top-notch user experience, while BlackBull Markets’ app holds a respectable 4-star rating. According to ForexBrokers.com, Charles Schwab is ranked 6th out of 62 brokers for mobile trading apps, showing its well-regarded status in the industry. Meanwhile, BlackBull Markets is ranked 30th, indicating a solid yet comparatively less prominent offering. With these insights, traders can make informed decisions based on their individual preferences and trading needs.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research capabilities of Charles Schwab and BlackBull Markets, both online brokers provide daily market commentary and maintain an economic calendar for current and upcoming global news events. Charles Schwab stands out by offering forex news from reputable sources like Bloomberg and Reuters, contributing to its 5-star research rating. All of these strengths have helped Charles Schwab secure the 4th position in the Research category out of 62 brokers according to ForexBrokers.com.
On the other hand, BlackBull Markets differentiates itself by integrating technical analysis tools from Autochartist and providing sentiment-based trading tools, which can be beneficial for traders looking for a deeper analysis of market trends. Despite BlackBull Markets not providing forex news from top-tier sources, its focus on technical tools earns it a respectable 4-star rating for research, ranking it at 18th place among the brokers reviewed. Both brokers offer valuable insights, but the choice depends on whether you prioritize high-quality forex news or innovative technical tools.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| 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 Charles Schwab and BlackBull Markets for educational resources designed for beginners, both platforms provide comprehensive learning materials for those interested in forex and CFDs. Each offers over 10 educational pieces such as articles, videos, and archived webinars. These resources cover a range of topics suitable for different learning levels, from beginner to advanced traders. Both platforms excel at keeping their clients engaged with monthly educational webinars and offer a searchable archive of these sessions for on-demand learning. Additionally, new investors can benefit from the robust video libraries dedicated to simplifying trading topics and helping traders enhance their knowledge base.
For those who enjoy diving deeper into trading terminology, both Charles Schwab and BlackBull Markets offer dictionaries with definitions for at least 50 investing terms, aiding learners in building a solid foundation. Despite these similarities, Charles Schwab has a slight edge, earning a five-star educational rating and ranking sixth out of 62 brokers in the education category by ForexBrokers.com, compared to BlackBull Markets' four-star rating and a rank of twenty-ninth. This distinction might make Charles Schwab a more appealing choice for those prioritizing educational excellence in their trading journey.
| Feature |
Charles Schwab
|
BlackBull Markets
|
|---|---|---|
| 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 | 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 BlackBull Markets. Charles Schwab finished with an overall rank of #6, while BlackBull Markets finished with an overall rank of #24.
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
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 78 |
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Both Charles Schwab and BlackBull Markets do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
While both Charles Schwab and BlackBull Markets provide the option of bank wire transfers for depositing or withdrawing funds, Charles Schwab also offers ACH and SEPA transfers but lacks options like Visa, Mastercard, Skrill, or PayPal, whereas BlackBull Markets supports Skrill and card payments via Visa and Mastercard but does not facilitate ACH or SEPA transfers, nor does it offer a PayPal option.
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 | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
| Broker Screenshots | Charles Schwab | BlackBull Markets | |
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| Regulation | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 99 | 78 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 26000 | |
| Forex Pairs (Total) | 73 | 72 | |
| 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 | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.71 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.71 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | BlackBull Markets | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 109 | |
| Charting - Drawing Tools (Total) | 24 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | Yes |
| Major Forex Pairs | Charles Schwab | BlackBull Markets | |
|---|---|---|---|
| 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 | BlackBull Markets Review |
| Overall | Charles Schwab | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | BlackBull Markets Review |
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