Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FXGT.com, 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, established in 1971, stands as a beacon of trust and stability in the financial sector. As a publicly traded company and a bank, it holds five Tier-1 licenses, indicating a high level of reliability. This extensive regulatory framework and its listing on the stock exchange contribute to its perfect Trust Score of 99 out of 99 from ForexBrokers.com, categorizing it as highly trusted.
In contrast, FXGT.com, which entered the market in 2019, operates without the backing of a publicly traded status or banking facilities. Holding just one Tier-1 license and an additional Tier-2 license, the firm earns a Trust Score of 69 out of 99, placing it in the high-risk category according to the ForexBrokers.com rating system. While it offers unique opportunities for traders, potential users may want to consider these factors when weighing their options.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Year Founded | 1971 | 2019 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Charles Schwab and FXGT.com offer different approaches to commissions and fees for forex trading. Schwab requires no minimum deposit for its primary brokerage accounts, making it accessible for traders. For forex, Schwab offers two main account types: Schwab One and Schwab Global. The popular Schwab One account allows forex trading through the thinkorswim platform, with trades settled in U.S. dollars. All trades require at least 10,000 units, translating to a minimum margin of $500 with 20:1 leverage. International trading in local currencies can be done via the Schwab Global account, which charges currency conversion fees ranging from 0.2% to 1%, depending on the account balance size.
In contrast, FXGT.com does not provide average spread data, which can make cost comparisons more opaque for traders. Nonetheless, Schwab does not charge commissions for forex trading; instead, costs are embedded in the bid/ask spread. For instance, the average spread for EUR/USD was 1.35 pips in October 2024, considered a higher end of the industry average. Alongside this, Schwab offers a convenient calculator in the thinkorswim platform to estimate overnight carry charges. These tools aid traders in better managing potential costs involved in trading.
When comparing both brokers, Charles Schwab earns a higher rating of 4 stars for commissions and fees, whereas FXGT.com holds a 3.5-star rating. In terms of ranking, Schwab is placed at #23 out of 62 brokers, evidencing its stronger footing in the Commissions and Fees category. FXGT.com, in comparison, ranks lower at #55, suggesting areas where competitiveness could be improved.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| 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 | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When considering the range of available investments, Charles Schwab stands out with a vast selection of 40,000 tradeable symbols and 73 forex pairs, making it a preferred choice for traders seeking diverse options. Schwab clients can access exchange-traded securities on both U.S. and international exchanges, allowing them to invest in companies like Apple or Vodafone directly. Although Schwab does not offer copy trading, it does provide opportunities for trading cryptocurrency derivatives, albeit not the actual cryptocurrencies. Rated five stars and ranked #5 by ForexBrokers.com for its range of investments, Charles Schwab clearly caters to investors with a wide array of interests and strategies.
In contrast, FXGT.com provides a more limited selection with 117 tradeable symbols and 53 forex pairs. Unlike Schwab, FXGT.com does not offer direct trading in U.S. or international exchange-traded securities, which might limit certain investment strategies. However, FXGT.com supports copy trading, appealing to those interested in mirroring successful trading strategies from others. Like Schwab, FXGT.com offers cryptocurrency derivatives but not the actual cryptocurrencies. With three stars and a ranking of #60 for its range of investments, FXGT.com may suit those who prefer a platform with straightforward investment options and the added benefit of copy trading.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 117 |
| Forex Pairs (Total) | 73 | 53 |
| 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 offered by Charles Schwab and FXGT.com, both platforms stand out for different reasons. Charles Schwab offers a more comprehensive range of features with a proprietary platform developed in-house. Traders can enjoy a superior experience with their highly rated trading platform, which includes a Windows-based desktop download, a web-based option, and the ability to trade directly from a stock chart. Moreover, Schwab provides users with extensive customizing abilities, such as 24 drawing tools for charting and an impressive 580 columns for watch lists. The platform maintains a strong overall rating of 5 stars and an impressive ranking of #5 among 62 brokers in the Trading Platforms and Tools category by ForexBrokers.com.
FXGT.com, on the other hand, offers MetaTrader 4 and MetaTrader 5, which are highly favored by users for their robustness and versatility. While not offering a proprietary platform, FXGT.com does provide options for Windows-based and browser trading, including the popular copy trading feature that's absent from Schwab’s offerings. Traders can also trade directly from stock charts and utilize 23 drawing tools. However, the platform limits watch list configurations to 5 columns. With a rating of 4 stars and a #56 rank in the category by ForexBrokers.com, FXGT.com is a suitable option for those seeking popular third-party trading platforms with essential features.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | 37 |
| Charting - Drawing Tools (Total) | 24 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When exploring mobile trading apps, Charles Schwab and FXGT.com both offer accessible platforms for iPhone and Android users. Both apps allow users to receive stock or forex price alerts and sync watchlist symbols between their mobile app and online account, ensuring seamless updates across devices. Charles Schwab stands out by offering 374 technical studies for charting, compared to FXGT.com's 30. Both platforms allow trendline drawing and support viewing different time frames such as daily, weekly, or intraday charts. Additionally, both apps auto-save chart drawings and allow watchlists with real-time quotes.
In terms of ratings and rankings, Charles Schwab excels with a perfect 5-star rating for its mobile trading app and is ranked 6th out of 62 brokers by ForexBrokers.com. FXGT.com, on the other hand, has a 3.5-star rating and is ranked 58th. This indicates that while both brokers offer a comprehensive range of features, Charles Schwab provides a more highly-regarded user experience in mobile trading.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Charles Schwab and FXGT.com, several key differences stand out. Charles Schwab provides daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. They also feature an economic calendar that highlights important global events. However, neither Charles Schwab nor FXGT.com employs technical analysis tools from Autochartist or Trading Central, nor do they use market research from TipRanks or Acuity Trading. In contrast, FXGT.com offers a unique sentiment-based trading tool that displays the ratio of long to short positions across currency pairs, a feature lacking in Charles Schwab's offerings.
In terms of research quality, Charles Schwab is rated higher, receiving 5 out of 5 stars, in contrast to FXGT.com's 3-star rating. This superior rating reflects Schwab's comprehensive research offerings. On the ForexBrokers.com list of 62 brokers, Charles Schwab ranks impressively at #4 in the research category, while FXGT.com is positioned much lower at #56. Both platforms provide an economic calendar, although the overall depth and breadth of Charles Schwab's market research tools contribute to its higher standing among industry peers.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| 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 it comes to educational resources for beginners, Charles Schwab stands out compared to FXGT.com. Charles Schwab provides a wealth of learning materials, specifically for those interested in forex or CFDs trading. Beginners can access over ten educational pieces such as articles, videos, and archived webinars dedicated to forex and CFDs. In contrast, FXGT.com does not meet this educational threshold. Charles Schwab also offers monthly online webinars and a convenient archive of past recordings. FXGT.com lacks these interactive learning opportunities, making Schwab a more comprehensive choice for continuous learning.
Additionally, Charles Schwab caters to both novice and advanced traders with extensive video content. Beginners have access to more than ten educational videos tailored to their needs, while seasoned traders can also benefit from advanced video courses. Both platforms provide investor dictionaries with over 50 investing terms, serving as a handy reference for users. Their educational ratings reflect this disparity; Charles Schwab receives an impressive five-star rating and ranks 6th out of 62 brokers, whereas FXGT.com holds a lower three-star rating and ranks 59th. This comparison shows Charles Schwab as the stronger choice for those seeking extensive educational resources in trading.
| Feature |
Charles Schwab
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXGT.com. Charles Schwab finished with an overall rank of #6, while FXGT.com finished with an overall rank of #58.
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
|
FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 69 |
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Both Charles Schwab and FXGT.com do not offer the ability to purchase actual delivered cryptocurrency, but they both facilitate trading in cryptocurrency derivatives.
Both Charles Schwab and FXGT.com provide ACH or SEPA transfers and bank wires as methods for depositing or withdrawing funds, while only FXGT.com accepts Visa or Mastercard, and neither broker supports PayPal or Skrill 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 | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | FXGT.com | |
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| Regulation | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Trust Score | 99 | 69 | |
| Year Founded | 1971 | 2019 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FXGT.com | |
|---|---|---|---|
| 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 | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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 | No |
| Investments | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 117 | |
| Forex Pairs (Total) | 73 | 53 | |
| 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 | FXGT.com | |
|---|---|---|---|
| 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 | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 5 | |
| Charting - Indicators / Studies (Total) | 374 | 37 | |
| Charting - Drawing Tools (Total) | 24 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FXGT.com | |
|---|---|---|---|
| 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 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | FXGT.com | |
|---|---|---|---|
| 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 |
| Overall | Charles Schwab | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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