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Charles Schwab vs FP Markets 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Charles Schwab vs FP Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Charles Schwab
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5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 40000
FP Markets
4.5/5 Stars Overall
  • Minimum Deposit: $100 AUD
  • Trust Score: 89
  • Tradeable Symbols (Total): 10000

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.

Regulation

Charles Schwab, established in 1971, stands out in the online brokerage landscape with its impressive credentials. As a publicly traded company that also operates as a bank, it garners the highest ForexBrokers.com Trust Score of 99, supported by five Tier-1 licenses, signifying the utmost trust. These credentials establish Charles Schwab as a highly reliable choice for investors seeking confidence and security in their financial ventures.

In comparison, FP Markets, which began operations in 2005, maintains a solid reputation with a Trust Score of 89, placing it in the trusted category. It holds two Tier-1 licenses and one Tier-2 license, highlighting its commitment to regulatory compliance. Though it is not publicly traded nor a bank, FP Markets remains an appealing choice for customers looking for a trustworthy broker with significant regulatory oversight.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Year Founded info 1971 2005
Publicly Traded (Listed) info Yes No
Bank info Yes No
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1

Fees

Charles Schwab provides a user-friendly entry into forex trading, especially since it does not require a minimum deposit for its brokerage account types. Its Schwab One account grants access to the thinkorswim platform, allowing forex trading with trades settled in U.S. dollars. Forex trading with Schwab is commission-free, with trading costs incorporated into the bid/ask spread. The average spread on the EUR/USD pair in October 2024 was 1.35 pips. However, trades must be made in 10,000-unit increments, with international securities tradable in local currencies via the Schwab Global account, albeit with conversion fees ranging from 0.2% to 1%. Schwab's overall rating for commissions and fees is 4 stars, ranked #23 out of 62 brokers by ForexBrokers.com.

FP Markets distinguishes itself by offering very competitive pricing, especially through its Raw ECN account, providing a low average spread of 0.1 pips for the EUR/USD, with a $6 per round-turn standard lot commission. This highly cost-efficient structure earned FP Markets a Best in Class award for Commissions and Fees in 2024. Its Standard account, while still competitive, presents higher average spreads of 1.1 pips. FP Markets also offers the Iress platform in Australia with three accounts, including the Iress Investor account, which waives monthly fees but lacks comprehensive features. FP Markets' commissions and fees receive a 5-star rating, ranked #6 out of 62 brokers by ForexBrokers.com.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Minimum Deposit info $0 $100 AUD
Average Spread EUR/USD - Standard info 1.35 info 1.2 info
All-in Cost EUR/USD - Active info 1.35 info 0.7 info
Active Trader or VIP Discounts info No Yes
ACH or SEPA Transfers info Yes No
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Charles Schwab and FP Markets both cater to traders interested in forex, offering forex trading as Contracts for Difference (CFDs). However, Charles Schwab takes the lead with a whopping 40,000 tradeable symbols, overshadowing FP Markets' 10,000. In terms of forex pairs, Charles Schwab provides 73 options compared to the 71 available at FP Markets. Notably, Schwab stands out by allowing clients to purchase exchange-traded securities on U.S. and international exchanges, enabling investments in big names like Apple and Vodafone, options unavailable through FP Markets.

While both brokers offer cryptocurrency derivatives without actual ownership, neither supports the purchase of delivered cryptocurrencies. FP Markets, however, differentiates itself by offering copy trading, a feature not provided by Schwab. When considering investment diversity, Charles Schwab earns a top-tier five-star rating, compared to FP Markets' respectable 4.5 stars. This distinction is reflected in the rankings by ForexBrokers.com, where Schwab holds the 5th spot out of 62 brokers for investment range, while FP Markets ranks 18th, still demonstrating a diverse and appealing array of options for its users.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 10000
Forex Pairs (Total) info 73 71
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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.

Trading platforms and tools

When comparing Charles Schwab to FP Markets, both brokers offer an extensive range of trading platforms and tools. Charles Schwab provides a proprietary platform with options for both a Windows-based desktop download and a web-based browser experience. This versatility is complemented by a paper trading feature, allowing users to test strategies without financial risk. Although it doesn't support third-party platforms like MetaTrader 4 or 5, Charles Schwab excels with a staggering 580 columns for watch lists and the ability to trade directly from a stock chart, earning it a 5-star rating and a top-five ranking by ForexBrokers.com for its trading tools.

FP Markets, similarly, provides a proprietary platform with options for both desktop downloads and web-based use, along with paper trading capabilities. A standout feature is its support for popular platforms like MetaTrader 4 and 5, as well as copy trading, which Charles Schwab lacks. Despite these strengths, FP Markets offers only 7 columns for watch lists and a slightly fewer number of 17 drawing tools. While it achieves a 4-star rating and a ranking at number 23 by ForexBrokers.com, FP Markets falls behind Charles Schwab regarding overall platform tool offerings.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
DupliTrade info No No
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 374 30
Charting - Drawing Tools (Total) info 24 17
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 580 7
View More

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Charles Schwab and FP Markets both offer mobile trading apps for iPhone and Android users. These apps come equipped with features like stock and forex price alerts, trendline drawing capabilities, and the ability to view multiple time frames on charts. While both brokers provide the functionality to create watchlists with real-time quotes, a key difference lies in Charles Schwab's ability to sync watchlist symbols between its mobile app and online account, a feature not available with FP Markets.

When it comes to technical charting, Charles Schwab stands out with an impressive 374 technical studies available, compared to FP Markets, which depends on the defaults offered by MetaTrader. Both apps offer auto-saving for chart drawings. According to ForexBrokers.com, Charles Schwab earns a stellar 5-star rating for its mobile trading app and ranks 6th among 62 brokers, while FP Markets receives a commendable 4-star rating but trails behind at 18th position.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 MetaTrader (Default)
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

Charles Schwab and FP Markets both provide daily market commentary and access to forex news from leading sources such as Bloomberg and Reuters, ensuring clients stay informed on the latest market movements. Both platforms also offer economic calendars that highlight global news events. However, when it comes to specialized research tools, FP Markets stands out by offering services from Autochartist and Trading Central, as well as a sentiment-based trading tool that provides insights into trader positions across various instruments. Charles Schwab, meanwhile, does not feature these additional analytical tools.

In terms of overall research quality, Charles Schwab is rated five stars, placing it among the top brokers, with a fourth-place ranking in the research category according to ForexBrokers.com. FP Markets, while offering a diverse range of research tools, receives a four-star rating and ranks 25th among 62 brokers. This comparison reveals that Charles Schwab excels in the traditional aspects of market research, while FP Markets offers unique analytical tools that may appeal to those seeking more specialized trading insights.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info No Yes
Social Sentiment - Currency Pairs info No Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When comparing the educational resources offered by Charles Schwab and FP Markets for beginners, it's clear that both brokers are committed to supporting new traders with a variety of learning tools. Charles Schwab provides a comprehensive selection of over ten educational pieces focused on forex and CFDs, including articles, videos, and archived webinars. Similarly, FP Markets matches this offering with its own collection of educational content centered on these crucial trading topics. Both brokers also conduct monthly online educational webinars for clients, accompanied by searchable archives of past sessions. Their efforts extend to beginner-friendly content, with each platform offering at least ten videos tailored for those just starting their trading journey.

Delving into more advanced content, both Charles Schwab and FP Markets present an array of videos aimed at experienced traders, ensuring that they cater to a wide range of educational needs. Additionally, both brokers house investor dictionaries that define more than 50 investing termsโ€”helpful for understanding the complex language of trading. However, when considering ratings and rankings in the education category, Charles Schwab shines a bit brighter. It garners a top-tier 5-star rating for education and is ranked 6th among 62 brokers by ForexBrokers.com. FP Markets, while still commendable, holds a 4-star rating and ranks 23rd in the same field. This distinction underscores Schwab's exceptional standing in delivering educational resources tailored to all levels of trading expertise.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 62 of the best forex brokers, our research and account testing finds that Charles Schwab is better than FP Markets. Charles Schwab finished with an overall rank of #6, while FP Markets finished with an overall rank of #19.

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 brokerโ€™s forex offering is still largely limited to what is available on thinkorswim.

Feature Charles Schwab logoCharles Schwab
FP Markets logoFP Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 89
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Charles Schwab or FP Markets?

Both Charles Schwab and FP Markets do not provide the ability to purchase actual, delivered cryptocurrency, but they do offer options to invest in cryptocurrency derivatives.

What funding options does each broker offer?

In comparing online brokers, Charles Schwab supports ACH and SEPA transfers and utilizes bank wires for fund transactions, while FP Markets does not offer ACH or SEPA transfers but provides various other methods such as PayPal, Skrill, Visa, and Mastercard alongside bank wires for convenient deposits and withdrawals.




announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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Compare

0 of 5
Overall Rating Charles Schwab FP Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 99 89
Winner check_circle
Review Charles Schwab Review FP Markets Review
Broker Screenshots Charles Schwab FP Markets
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Charles Schwab FP Markets
Trust Score info 99 89
Year Founded info 1971 2005
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info No Yes info
Tier-1 Licenses info 5 2
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Charles Schwab FP Markets
Australia (ASIC Authorised) info No Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info No Yes info
Tier-2 Licenses (Trusted) Charles Schwab FP Markets
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments Charles Schwab FP Markets
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 40000 10000
Forex Pairs (Total) info 73 71
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 FP Markets
Average Spread EUR/USD - Standard info 1.35 info 1.2 info
All-in Cost EUR/USD - Active info 1.35 info 0.7 info
Active Trader or VIP Discounts info No Yes
Inactivity Fee info No No
Execution: Agency Broker info Yes No
Execution: Market Maker info No Yes
Funding Charles Schwab FP Markets
Minimum Deposit info $0 $100 AUD
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes No
Trading Platforms Charles Schwab FP Markets
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No Yes
DupliTrade info No No
ZuluTrade info No No
Trading Tools Charles Schwab FP Markets
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 580 7
Charting - Indicators / Studies (Total) info 374 30
Charting - Drawing Tools (Total) info 24 17
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Charles Schwab FP Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 374 MetaTrader (Default)
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes Yes
Mobile Economic Calendar info Yes Yes
Research Charles Schwab FP Markets
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No Yes
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info No Yes
Economic Calendar info Yes Yes
Education Charles Schwab FP Markets
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Charles Schwab FP Markets
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Charles Schwab Review FP Markets Review
Overall Charles Schwab FP Markets
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 99 89
Winner check_circle
Review Charles Schwab Review FP Markets Review
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