Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Exness, 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, founded in 1971, stands as a highly trusted and established financial entity in the online brokerage world. It is publicly traded on a stock exchange and operates as a bank, offering a sense of security and stability. Rated with a perfect Trust Score of 99 by ForexBrokers.com, Charles Schwab holds an impressive five Tier-1 licenses, showcasing its significant regulatory oversight and commitment to trustworthy client dealings.
In comparison, Exness, which entered the market in 2008, is not publicly traded and does not operate as a bank. It holds a Trust Score of 81, categorizing it as trusted according to ForexBrokers.com. Exness has secured two Tier-1 licenses and three Tier-2 licenses, reflecting its commitment to adhering to regulatory standards though it remains less established than Charles Schwab. Ultimately, both entities offer trusted services, yet Charles Schwab's longer history and stronger regulatory foundation may appeal to those prioritizing these factors.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Year Founded | 1971 | 2008 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Charles Schwab offers a compelling option for forex traders by eliminating the need for a minimum deposit in its primary brokerage account types. This makes entering the trading scene accessible to many. While there are many account types, Schwab One and Schwab Global are noteworthy for forex trading. Schwab One facilitates forex trades on the thinkorswim platform, with all transactions settled in U.S. dollars. The slightest trade size starts at 10,000 units, requiring a margin of at least $500 due to a 20:1 leverage. Meanwhile, Schwab Global provides access to twelve international markets in their local currencies, but it does come with conversion fees ranging from 0.2% to 1% depending on account balance. Schwab earns a 4-star rating for commissions and fees and is ranked #23 out of 62 brokers by ForexBrokers.com. Trading costs occur primarily through bid/ask spreads, with an average EUR/USD spread of 1.35 pips, making it slightly pricier, especially for those trading overnight.
Exness caters to a wide range of traders with its various account options, including two standard accounts and three professional accounts. Each account type features different trading costs and execution methods, adjusting spreads and commissions accordingly. The Standard Cent account has the highest spreads with market execution, whereas the Standard account offers slightly better terms with the same execution method. The Pro account stands out by offering both instant and market execution to deliver lower spreads. For traders seeking minimal spreads, the Zero Spread account introduces a commission of $0.05 per trade, while the Raw account charges up to $7 per round turn lot but provides competitive spreads. Exness also gains a 4-star rating for commissions and fees, although it ranks slightly lower at #35 out of 62 brokers by ForexBrokers.com.
Both Charles Schwab and Exness present viable options for traders, each with distinct features to suit different trading needs. Schwab stands out for its no-commission forex trades and ease of access through its thinkorswim platform, yet it charges through broader spreads. Exness, on the other hand, offers flexibility with its account options and competitive commissions in its professional accounts, giving traders a choice in execution methods too. Choosing between the two depends on your trading priorities, whether zero commission or tailored account structures are more appealing to your trading strategy.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Minimum Deposit | $0 | $10 |
| 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 | 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 Exness both provide forex trading options, allowing clients to engage in trading using CFDs or spot contracts. However, Schwab stands out with a significantly larger selection of tradeable symbols, offering a remarkable 40,000 compared to Exness's 227 symbols. In terms of forex pairs, Exness narrowly surpasses Schwab, with 96 pairs available against Schwab’s 73. For investors interested in exchange-traded securities, Charles Schwab provides opportunities to purchase shares from both U.S. and international exchanges, whereas Exness doesn't support this feature.
Investment offerings between the two brokers diverge further when considering copy trading capabilities and cryptocurrency investments. Schwab does not support copy trading, while Exness includes this feature, catering to those who wish to replicate the trades of experienced investors. Both platforms allow trading in cryptocurrency derivatives rather than direct cryptocurrency investments. When rated for their range of investments, Charles Schwab achieves a stellar 5-star rating and ranks 5th out of 62 brokers on ForexBrokers.com, overshadowing Exness's 3.5-star rating and 55th position.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 227 |
| Forex Pairs (Total) | 73 | 96 |
| 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.
When comparing the trading platforms and tools of Charles Schwab and Exness, both offer valuable features, but they serve different user needs. Charles Schwab provides a comprehensive suite with proprietary platforms available as desktop downloads and web-based interfaces. Traders can experiment with strategies using Schwab's virtual demo account and benefit from its capacity for trading directly from stock charts, using 24 drawing tools and 580 watch list fields. Although Schwab does not support popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), its offering earns it a five-star rating and a rank of #5 out of 62 brokers in Trading Platforms and Tools by ForexBrokers.com.
Exness also delivers a solid suite of tools, including a proprietary platform accessible via Windows downloads or web browser, alongside the option for simulated trading. Unique to Exness, traders can use MT4 and MT5, as well as engage in social trading features like copy trading. With 87 drawing tools available for charting, Exness excels in versatility, but its more concise selection of 7 fields for watch lists might be a limiting factor for some users. While Exness achieves a commendable four-star rating and ranks #26, it highlights a focus on diverse platform support, making it an attractive option for traders who prioritize flexibility and advanced charting tools.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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 | 107 |
| Charting - Drawing Tools (Total) | 24 | 87 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and Exness offer mobile trading apps for iPhone and Android, catering to traders who want to manage their portfolios on the go. Importantly, both platforms allow users to receive stock or forex price alerts directly within their apps. Charles Schwab stands out with a seamless watchlist syncing feature, ensuring any changes made on mobile reflect instantly on their online accounts, a feature not available with Exness. In terms of charting capabilities, Charles Schwab provides an extensive selection of 374 technical studies compared to Exness’s 35, and both apps allow trendline drawing and viewing of multiple time frames. Additionally, Charles Schwab’s app automatically saves chart drawings, unlike Exness.
When it comes to real-time data, both apps let users create watchlists with live quotes, keeping traders updated with the latest market movements. However, in terms of overall user satisfaction, Charles Schwab takes the lead with a perfect mobile app rating of 5 stars, whereas Exness garners a respectable 4 stars. According to ForexBrokers.com, Charles Schwab is highly ranked at #6 out of 62 brokers for their mobile trading apps, while Exness finds itself at the #26 spot. This comparison reveals Charles Schwab's superior mobile trading experience, making it a favored choice for those who seek advanced features and user convenience.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 35 |
| 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 Exness are both reputable online brokers offering a suite of market research tools, albeit with contrasting features. Both provide daily market commentary and forex news sourced from high-tier channels such as Bloomberg and Reuters. They also offer economic calendars to keep traders informed about global news events. However, Exness distinguishes itself with additional features like Trading Central tools and sentiment-based trading assessments, which are not available through Charles Schwab. This added functionality may be an attractive option for traders seeking diverse analytical tools.
Despite these differences in offerings, Charles Schwab consistently earns a higher rating for research, with a commendable 5 stars compared to Exness's 3.5 stars. Furthermore, Charles Schwab is ranked #4 out of 62 brokers by ForexBrokers.com in the Research category, whereas Exness holds the #41 position. These rankings reflect Schwab's dedication to providing extensive research resources to its clients, making it a strong contender for those seeking comprehensive market insights.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| 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 available for beginners between Charles Schwab and Exness, both platforms provide a variety of forex and CFD learning materials, each boasting at least 10 pieces of content that include articles, videos, and archived webinars. However, Charles Schwab stands out with its offering of client webinars on a monthly basis, a feature that Exness does not include. Both brokers provide a searchable archive of recorded webinars and have a strong selection of beginner-focused videos. Despite this, Schwab extends its video library to include content tailored for more experienced traders, a resource that Exness lacks.
For those just starting in the trading world, Charles Schwab also offers an investor dictionary with over 50 investing terms, as does Exness, ensuring that newcomers have a solid foundation in trading vocabulary. However, the overall educational experience seems to favor Charles Schwab, which is reflected in its higher education rating of five stars compared to Exness's 3.5 stars. Additionally, Schwab is ranked as the sixth best broker for education by ForexBrokers.com, while Exness comes in at 47th out of 62 brokers, highlighting a notable difference in educational quality and support for beginners.
| Feature |
Charles Schwab
|
Exness
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| 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 Exness. Charles Schwab finished with an overall rank of #6, while Exness finished with an overall rank of #43.
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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Exness
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 81 |
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Both Charles Schwab and Exness do not offer the option to purchase actual cryptocurrency with delivery, but they both provide the ability to trade cryptocurrency derivatives.
While Charles Schwab supports ACH, SEPA transfers, and bank wires for account funding, but not PayPal, Skrill, Visa, or Mastercard, Exness provides options for Skrill, Visa, Mastercard, and bank wires, yet lacks ACH, SEPA, and PayPal support, highlighting distinct payment flexibility between the online brokers.
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 | Exness | |
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| Trust Score | 99 | 81 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Exness Review |
| Broker Screenshots | Charles Schwab | Exness | |
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| Regulation | Charles Schwab | Exness | |
|---|---|---|---|
| Trust Score | 99 | 81 | |
| Year Founded | 1971 | 2008 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Exness | |
|---|---|---|---|
| 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 | 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 | Exness | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | Yes | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | Yes |
| Investments | Charles Schwab | Exness | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 227 | |
| Forex Pairs (Total) | 73 | 96 | |
| 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 | Exness | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Exness | |
|---|---|---|---|
| Minimum Deposit | $0 | $10 | |
| 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 | Exness | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Exness | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 107 | |
| Charting - Drawing Tools (Total) | 24 | 87 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Exness | |
|---|---|---|---|
| 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 | 35 | |
| 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 | Exness | |
|---|---|---|---|
| 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 | Exness | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Exness | |
|---|---|---|---|
| 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 | Exness Review |
| Overall | Charles Schwab | Exness | |
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| Trust Score | 99 | 81 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Exness Review |
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