Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs eToro, 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 eToro are prominent players in online brokerage, each with distinct regulatory profiles. Founded in 1971, Charles Schwab is both publicly traded and operates as a bank, holding the maximum Trust Score of 99 from ForexBrokers.com. This places Schwab in the "highly trusted" category. It boasts 5 Tier-1 licenses, which are the gold standard for regulatory trustworthiness, ensuring top-level oversight and security for its clients.
In contrast, eToro, established in 2007, is not publicly traded and does not operate as a bank. Despite this, eToro achieves a solid Trust Score of 93, aligning it as a "highly trusted" entity. eToro maintains 3 Tier-1 licenses and 1 Tier-2 license, indicating a strong but slightly less comprehensive regulatory footing compared to Charles Schwab. Both platforms provide a secure environment for investors, but Charles Schwab's bank status and higher number of top-tier licenses could offer additional peace of mind for some investors.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Year Founded | 1971 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and eToro are two well-regarded online brokers, each offering distinct advantages in terms of commissions and fees. Charles Schwab is particularly appealing due to its no minimum deposit requirement for its primary brokerage accounts, making it accessible for forex traders. Schwab offers 18 different financial account types, but notably, the Schwab One and Schwab Global accounts provide access to forex trading through the thinkorswim platform. While Schwab does not charge commissions for forex trading, the trading costs are embedded in the bid/ask spread, with an average of 1.35 pips on the EUR/USD, which is slightly higher than the industry average. Schwab is rated 4 out of 5 stars for commissions and fees, ranking #23 out of 62 brokers.
eToro, on the other hand, is a market-maker broker with a focus on social copy trading, which is a significant draw for many retail traders. Despite listing a typical variable spread of 1 pip on the EUR/USD, eToro’s appeal lies in its VIP club benefits, ranging from Silver to Diamond tiers for traders with balances between $5,000 and $250,000. These membership tiers offer perks such as Trading Central access and fee discounts, enhancing the trading experience. For its commissions and fees, eToro earns a rating of 4.5 out of 5 stars and ranks slightly higher than Schwab at #22 out of 62 brokers.
While both Charles Schwab and eToro offer unique features to cater to various trading preferences, eToro’s edge in the ranking and slightly better fee rating highlight its competitive offerings in terms of commissions and fees. Schwab’s broader financial account options and integration with the thinkorswim platform may appeal more to traders seeking a wider range of financial instruments and research tools, whereas eToro suits those interested in social trading and tier-based membership benefits. Each broker brings valuable features to the table, ensuring that traders have options to fit their trading needs.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 |
| Average Spread EUR/USD - Standard | 1.35 | 1 |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| 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 investments available through Charles Schwab and eToro, both platforms have their strengths, especially in forex trading and exchange-traded securities. Charles Schwab provides a staggering 40,000 tradeable symbols, including 73 forex pairs, while eToro offers 5,461 symbols with 55 forex pairs. Both platforms allow clients to trade U.S. and international exchange-traded securities, such as Apple and Vodafone shares. However, eToro distinguishes itself with features like copy trading, which allows users to mimic the trades of successful investors, and the ability to buy actual cryptocurrencies. Charles Schwab does not support copy trading or buying delivered cryptocurrencies, focusing instead on cryptocurrency derivatives.
Both Charles Schwab and eToro have been awarded five stars for their range of investments, though Charles Schwab ranks higher overall at number 5 out of 62 brokers according to ForexBrokers.com, compared to eToro's rank of 10. This suggests that while both platforms offer diverse trading options, Charles Schwab might be more suitable for those looking for an extensive selection of traditional investment products, whereas eToro offers unique features like copy trading and straightforward cryptocurrency purchases that may be appealing to newer investors and those interested in digital currencies.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 5461 |
| 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 | Yes |
| 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 eToro both provide solid online trading experiences, but they cater to different types of traders. Charles Schwab offers a comprehensive suite of trading tools, including a Windows-based desktop platform and a web-based option. It supports simulated trading with a free virtual demo account, making it ideal for users who want to practice strategies before investing real money. Schwab also excels in customization, offering an extensive 580-column watchlist and the ability to trade directly from stock charts. Their platform emphasizes traditional trading tools and analytics, which helped earn it a 5-star rating and a #5 rank by ForexBrokers.com for Trading Platforms and Tools.
eToro, on the other hand, is well-known for its innovative approach, especially with the social feature of copy trading, which allows users to mimic the trades of successful investors. Like Charles Schwab, eToro provides both a proprietary web-based platform and a free demo account, but it doesn't offer a desktop download for Windows. Although eToro lacks some advanced features such as trading directly from stock charts, it compensates with an impressive 161 drawing tools for charting and a user-friendly interface suited for social and novice traders. With a 4.5-star rating and #8 rank, eToro stands out as a strong competitor, particularly for those interested in a community-driven trading experience.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 104 |
| Charting - Drawing Tools (Total) | 24 | 161 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and eToro, both platforms provide apps for iPhone and Android users, ensuring accessibility for a wide range of traders. They offer essential features such as stock and forex price alerts, and the ability to sync watchlists between the mobile app and the user's online account, keeping traders connected wherever they are. Both apps enable users to create watchlists with real-time quotes, but significant differences can be found in the charting functionalities. Charles Schwab's app boasts an impressive 374 technical studies for charting, while eToro offers 104. Additionally, Charles Schwab users can draw trendlines and view multiple time frames on charts, and these drawings are automatically saved in the app—features not fully available on eToro's app.
In terms of user ratings and rankings, Charles Schwab's mobile trading app holds a 5-star rating and is ranked 6th out of 62 brokers by ForexBrokers.com for mobile experience. In comparison, eToro earns a respectable 4.5-star rating, securing the 11th spot. This endorsement reflects Schwab's advanced charting tools and seamless integration across platforms, differentiating it as a preferred choice for traders who prioritize comprehensive technical analysis on-the-go. Meanwhile, eToro still provides a solid and user-friendly trading experience that caters to a more general trading demographic.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 104 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Charles Schwab and eToro, both platforms provide daily market commentary and an economic calendar to keep users informed of global events. Charles Schwab excels with its access to top-tier forex news sources like Bloomberg and Dow Jones, making it a reliable choice for investors seeking trusted market information. This focus on high-quality news helps earn Charles Schwab a five-star research rating and a fourth-place ranking in the Research category out of 62 brokers on ForexBrokers.com.
eToro, on the other hand, shines in different aspects of market research by offering unique tools such as sentiment-based trading features and advanced research from Trading Central and TipRanks. This makes eToro appealing to traders interested in these analytical tools, despite lacking news from premier sources. With a research rating of 4.5 stars and a thirteenth-place rank by ForexBrokers.com, eToro offers distinctive analytical resources for traders who prioritize sentiment analysis and technical research.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When considering the educational resources available for beginners, both Charles Schwab and eToro deliver comprehensive support to help new traders get started. Charles Schwab offers a rich array of forex and CFDs education, ensuring beginners have access to over 10 articles, videos, and webinars focused on these topics. Similarly, eToro provides an equally extensive collection. Both platforms host monthly online educational webinars and archive them for clients to revisit anytime, allowing beginners to learn at their own pace. Each broker also offers at least 10 educational videos tailored specifically for novice traders, setting a strong foundation for those new to trading.
In addition to beginner resources, Charles Schwab and eToro cater to more experienced traders with advanced educational videos and provide a comprehensive investor dictionary with over 50 investment terms. Despite their similar offerings, Charles Schwab holds a slight edge in education quality, receiving a five-star rating compared to eToro's 4.5 stars, although eToro ranks slightly higher in the Education category by ForexBrokers.com, standing at #5, above Charles Schwab's #6. Both platforms are top choices for anyone starting their investment journey, with Charles Schwab leading slightly in educational depth and eToro in ranking.
| Feature |
Charles Schwab
|
eToro
|
|---|---|---|
| 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 eToro. Charles Schwab finished with an overall rank of #6, while eToro finished with an overall rank of #9.
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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eToro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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When comparing Charles Schwab and eToro for cryptocurrency trading, eToro stands out as it allows users to purchase actual (delivered) cryptocurrency, while both platforms offer the ability to trade cryptocurrency derivatives.
When comparing online brokers, Charles Schwab and eToro both support ACH and SEPA transfers as well as bank wires for depositing and withdrawing account funds, but eToro surpasses Charles Schwab by additionally offering PayPal, Skrill, and Visa/Mastercard options for added convenience and flexibility in managing transactions.
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 | eToro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | eToro Review |
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| Regulation | Charles Schwab | eToro | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1971 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | eToro | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | eToro | |
|---|---|---|---|
| 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 | eToro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 5461 | |
| 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 | Yes | |
| 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 | eToro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1 | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | eToro | |
|---|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | eToro | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | eToro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 104 | |
| Charting - Drawing Tools (Total) | 24 | 161 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | eToro | |
|---|---|---|---|
| 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 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | eToro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | eToro | |
|---|---|---|---|
| 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 | eToro | |
|---|---|---|---|
| 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 | eToro Review |
| Overall | Charles Schwab | eToro | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | eToro Review |
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