Written by ForexBrokers.com
In this head to head comparison of FOREX.com vs Charles Schwab, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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FOREX.com vs. Charles Schwab: Both online brokers are publicly traded and each earns a 99/99 Trust Score from ForexBrokers.com—putting them in the highly trusted 90–99 range (80–89 trusted, 70–79 average risk, 60–69 high risk, below 59 not trusted). FOREX.com, founded in 1999, is not a bank; Charles Schwab, founded in 1971, is a bank.
Regulatory coverage differs. FOREX.com holds 7 Tier-1 licenses and 2 Tier-2 licenses (considered highly trusted and trusted, respectively, by ForexBrokers.com), while Charles Schwab holds 5 Tier-1 licenses and 0 Tier-2 licenses. Despite the different license counts, both earn the top Trust Score, signaling strong oversight for everyday investors.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1999 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 7 | 5 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 1 | 0 |
| Tier-4 Licenses | 1 | 0 |
FOREX.com and Charles Schwab both make it possible to trade forex, but their pricing works a little differently. FOREX.com charges a mix of spreads and, on its RAW account, commissions. Its Standard account is usually pricier, with EUR/USD spreads averaging 1.4 pips in the U.S., while the RAW account offers much tighter spreads, around 0.13 pips, plus a $7 per standard lot commission at the lowest tier. For traders outside the U.S., FOREX.com can be cheaper, with EUR/USD spreads averaging 0.74 pips. FOREX.com is rated 4.5 out of 5 stars and ranked #15 out of 36 for commissions and fees.
Charles Schwab takes a simpler approach: it does not charge a separate commission for forex trading, and costs are built into the bid/ask spread. Its average EUR/USD spread was 1.35 pips in October 2024, which is on the higher side versus many competitors. Schwab may still appeal to traders who want a low minimum deposit barrier and access to thinkorswim, but its forex pricing is not especially low. Charles Schwab is rated 4 out of 5 stars and ranked #23 out of 36 for commissions and fees.
In plain terms, FOREX.com can be better for active traders who want tighter spreads and are comfortable with commission-based pricing, while Schwab is easier to understand but often costs more in spread alone. If your main goal is lower forex trading costs, FOREX.com generally has the edge, especially on its RAW account. If you want a brokerage with no forex commission and a simpler fee setup, Schwab may be easier to use, but not usually cheaper.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | $100 | $0 |
| Average spread (EUR/USD) - Standard account | 1.00 | 1.27 |
| All-in Cost EUR/USD - Active | 1.13 | 1.27 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FOREX.com and Charles Schwab both give traders access to a wide mix of investments, including forex trading, U.S. exchange-traded securities, international exchange-traded securities, and cryptocurrency CFDs. Both brokers also do not offer copy trading or the ability to buy actual, delivered cryptocurrency. For forex specifically, FOREX.com lists 80 currency pairs, while Charles Schwab offers 73, giving FOREX.com a small edge in currency choice.
When it comes to overall market access, Charles Schwab offers a much larger selection with about 40,000 tradeable symbols compared with 5,500 at FOREX.com. Even so, both brokers earn 5 out of 5 stars for Range of Investments. On ForexBrokers.com’s ranking of 36 brokers, Charles Schwab places slightly higher at #5, while FOREX.com comes in at #6.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 40000 |
| Forex Pairs (Total) | 80 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | 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.
FOREX.com and Charles Schwab both give traders a strong set of platform and tool options, including free paper trading, proprietary platforms, Windows desktop downloads, web-based trading, and the ability to place trades directly from a stock chart. Each broker also earns a top 5-star rating for Trading Platforms and Tools, showing that both are well-regarded for helping users analyze markets and place trades with ease. In ForexBrokers.com’s rankings, FOREX.com comes in at #5 out of 36 brokers, while Charles Schwab follows at #7.
One key difference is that FOREX.com supports both MetaTrader 4 and MetaTrader 5, which may appeal to traders who want access to those popular third-party platforms. Charles Schwab does not offer MT4 or MT5, and neither broker includes copy trading. Overall, FOREX.com may have the edge for traders who want more platform choices, while Charles Schwab still offers a solid trading experience with its own tools and platform lineup.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 90 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FOREX.com and Charles Schwab both make it easy to trade on the go with iPhone and Android apps, price alerts, and watchlist syncing between the mobile app and online account. Each app also lets users draw trendlines on charts and auto-saves those drawings, which is helpful for keeping track of market ideas across devices. Both brokers earn a 5-star rating for mobile trading apps, so either choice offers a strong mobile experience for everyday traders.
Where the two differ most is in charting tools. FOREX.com offers 90 technical studies in its mobile app, while Charles Schwab gives users 374, making Schwab the better pick for traders who want a wider range of chart indicators. Even so, FOREX.com is ranked higher overall in the Mobile Trading Apps category by ForexBrokers.com, coming in at #2 out of 36 brokers, compared with Charles Schwab at #6. In short, FOREX.com stands out for its overall mobile app ranking, while Charles Schwab leads when it comes to charting depth.
| Feature |
FOREX.com
|
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 | 90 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FOREX.com and Charles Schwab both perform well in market research, giving traders daily market commentary, news from top sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar with current and upcoming global events. Each broker earns a 5-star rating for research, showing that both are strong choices for traders who want regular market updates and broad news coverage.
Where they differ is in extra research tools. FOREX.com stands out with Trading Central analysis and a sentiment tool that shows long and short positioning across currency pairs, while Charles Schwab does not offer those features. Neither broker includes Autochartist, TipRanks, or Acuity Trading tools. In ForexBrokers.com’s Research category, Charles Schwab ranks slightly higher at #5 out of 36 brokers, compared with FOREX.com at #7.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | 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 trading education, both FOREX.com and Charles Schwab give new traders plenty to work with. Each broker offers forex or CFDs education with at least 10 learning pieces focused on those markets, plus monthly online webinars and at least 10 beginner videos and 10 advanced videos. In other words, both platforms make it easy for beginners to learn the basics and keep building skills over time.
That said, FOREX.com has a slight edge in education based on third-party rankings. Both brokers earn 5 out of 5 stars for Education, but FOREX.com is ranked #4 out of 36 brokers by ForexBrokers.com, while Charles Schwab is ranked #6. For beginners comparing online brokers, either choice offers strong educational support, but FOREX.com comes out a bit ahead overall.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Webinars | Yes | 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 FOREX.com is better than Charles Schwab. FOREX.com finished with an overall rank of #4, while Charles Schwab finished with an overall rank of #6.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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In a FOREX.com vs Charles Schwab comparison for crypto, neither broker supports buying actual, delivered cryptocurrencies, but while FOREX.com offers cryptocurrency CFD trading (in select regions), Charles Schwab does not provide crypto CFDs.
In a FOREX.com vs Charles Schwab comparison of deposit and withdrawal methods, both online brokers support ACH/SEPA and bank wire transfers, but only FOREX.com offers PayPal and Skrill, while Visa/Mastercard availability is not specified for either.
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 | FOREX.com | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Charles Schwab Review |
| Broker Screenshots | FOREX.com | Charles Schwab | |
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| Broker Gallery (click to expand) |
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| Regulation | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1999 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 5 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 1 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (FSA Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) | No |
| Investments | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 40000 | |
| Forex Pairs (Total) | 80 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | 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 | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.00 | 1.27 | |
| All-in Cost EUR/USD - Active | 1.13 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | $100 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 90 | 374 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 90 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | Charles Schwab | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FOREX.com | 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 | FOREX.com Review | Charles Schwab Review |
| Overall | FOREX.com | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | Charles Schwab Review |
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