Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs Charles Schwab, 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.
CMC Markets, established in 1989, and Charles Schwab, founded in 1971, stand as two prominent online brokers in the financial market. Both companies are publicly traded, reflecting a high level of transparency and accountability. While CMC Markets is exclusively a brokerage, Charles Schwab operates as both a broker and a bank, offering a more comprehensive range of financial services. In terms of trust and regulation, both brokers hold the highest Trust Score of 99 from ForexBrokers.com, indicating a strong reputation for reliability.
When comparing regulatory credentials, CMC Markets holds six Tier-1 licenses, underscoring its commitment to adhering to the highest regulatory standards. In comparison, Charles Schwab maintains five Tier-1 licenses. CMC Markets also possesses one Tier-2 license, while Charles Schwab has none. These details highlight the robust regulatory frameworks both firms adhere to, guaranteeing a trustworthy trading experience for their clients.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1989 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 6 | 5 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
In ForexBrokers.com’s 2025 Annual Awards, CMC Markets stands out for commissions and fees, earning a 5-star rating and ranking #4 out of 36 brokers. It won the #1 spot in the Commissions and Fees category because of its consistently low spreads, which are available across customer segments and account types. CMC’s typical EUR/USD spread was 0.61 pips based on August 2023 pricing data, and its FX Active pricing can lower all-in costs to about 0.5 pips on the EUR/USD with a $2.50-per-side commission and near-zero minimum spreads. Its active trader program, Price Plus Scheme, also offers spread discounts as trading volume and Trading Points increase.
Charles Schwab is solid on pricing, but it trails CMC Markets in this category with a 4-star rating and a #23 ranking out of 36 brokers. Schwab does not charge commissions for forex trading, so costs mainly come from the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which sits at the higher end of the industry average. Schwab’s main strength is its low entry barrier, since there is no minimum deposit requirement for its primary brokerage accounts, and traders can use thinkorswim through Schwab One or access international markets through Schwab Global, where conversion fees may apply.
Overall, CMC Markets is the better choice for traders who want lower forex trading costs and tighter spreads, while Charles Schwab may appeal more to investors who value account flexibility and access to broader investing services. For commissions and fees alone, CMC Markets has the clearer edge.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 1.27 |
| All-in Cost EUR/USD - Active | 0.65 | 1.27 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and Charles Schwab both give investors access to a wide mix of products, including forex trading, U.S.-listed stocks, and international shares. Each broker also offers cryptocurrency CFDs, while neither allows you to buy delivered crypto directly. Both are rated 5 out of 5 stars for range of investments, showing that each platform gives traders plenty of choice.
Where they differ is in depth and style. Charles Schwab lists more tradeable symbols overall, with about 40,000 compared with CMC Markets’ 12,029, and it also ranks higher for range of investments at #5 versus CMC Markets’ #9. CMC Markets stands out for forex traders, offering 141 currency pairs compared with Schwab’s 73, and it also includes copy trading, which Schwab does not. If you want a broader list of markets, Schwab has the edge; if you want more forex pairs and copy trading, CMC Markets may be the better fit.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 40000 |
| Forex Pairs (Total) | 141 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | No |
| 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.
CMC Markets and Charles Schwab both give traders a full set of platform options, including a free paper trading demo, a proprietary in-house platform, a Windows desktop download, and a web-based browser platform. Both also let you trade directly from charts, and each earns a 5-star rating for Trading Platforms and Tools. In ForexBrokers.com’s rankings, CMC Markets edges ahead of Schwab at No. 6 out of 36 brokers, while Charles Schwab sits at No. 7.
Where CMC Markets stands out is in its extra trading choices: it offers copy trading plus support for MetaTrader 4 and MetaTrader 5, which may appeal to traders who want more ways to follow strategies or use familiar tools. Charles Schwab does not offer copy trading, MT4, or MT5, so its platform lineup is simpler. Even so, Schwab still covers the key basics well, making both brokers strong picks for traders who want easy-to-use trading platforms and helpful charting tools.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 73 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and Charles Schwab both deliver strong mobile trading app options for iPhone and Android users, and each app includes useful tools like stock or forex price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. Both brokers also earn a 5-star rating for mobile trading apps, making either one a solid choice for traders who want to manage positions and track markets from their phone.
The biggest difference is in charting depth. CMC Markets offers 29 technical studies in its mobile app, while Charles Schwab gives users 374, which is a major advantage for traders who rely on detailed chart analysis. Still, CMC Markets ranks #5 out of 36 brokers for mobile trading apps, just ahead of Charles Schwab at #6, so both platforms are well regarded for mobile trading convenience and ease of use.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets and Charles Schwab both do well for market research, giving traders daily market commentary, forex news from top sources like Bloomberg and Reuters, and an economic calendar with key global events. Each broker earns a 5-star rating for Research, which puts them among the top choices for traders who want up-to-date market information.
The main difference is in extra research tools. CMC Markets offers Autochartist and a sentiment tool that shows long and short positioning across markets, while Charles Schwab does not offer these features. Charles Schwab also has a slightly higher ForexBrokers.com research rank, placing #5 out of 36 brokers, compared with CMC Markets at #6 out of 36.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly education, both CMC Markets and Charles Schwab give new traders plenty to work with. Each broker offers at least 10 beginner trading videos, plus 10 or more advanced videos for experienced users. Both also earn a 5-star Education rating, which shows that each platform puts real effort into helping clients learn the basics and build trading knowledge over time.
The main difference is in live learning and forex/CFD-focused content. Charles Schwab offers monthly online educational webinars, while CMC Markets does not. Charles Schwab also ranks higher for Education overall, placing #6 out of 36 brokers compared with CMC Markets at #10. For forex or CFD education, both brokers provide enough material to meet the minimum standard, making each a solid choice for beginners who want access to market lessons and trading guides.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Webinars | No | 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 CMC Markets is better than Charles Schwab. CMC Markets finished with an overall rank of #5, while Charles Schwab finished with an overall rank of #6.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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CMC Markets vs Charles Schwab: neither broker lets you buy actual (delivered) cryptocurrency, but both offer cryptocurrency CFD trading instead of owning the coins directly.
Comparing online brokers CMC Markets and Charles Schwab: both support ACH/SEPA transfers and bank wires, neither supports Skrill, CMC Markets supports PayPal while Charles Schwab does not, and Visa/Mastercard availability is unspecified for both.
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 | CMC Markets | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Charles Schwab Review |
| Broker Screenshots | CMC Markets | Charles Schwab | |
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| Broker Gallery (click to expand) |
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| Regulation | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1989 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 5 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 40000 | |
| Forex Pairs (Total) | 141 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | No | |
| 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 | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 1.27 | |
| All-in Cost EUR/USD - Active | 0.65 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 374 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | Charles Schwab | |
|---|---|---|---|
| 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 | 29 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | Charles Schwab | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | CMC Markets | Charles Schwab | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | Charles Schwab Review |
| Overall | CMC Markets | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | Charles Schwab Review |
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