Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FXPrimus, 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, is a well-known name in the financial industry and stands out for its strong regulatory credentials. As a publicly traded company and a registered bank, Charles Schwab boasts a perfect Trust Score of 99 according to ForexBrokers.com. The firm holds five Tier-1 licenses, which marks it as a highly trusted broker, offering its clients a high level of security and confidence in their financial activities.
In contrast, FXPrimus, founded in 2009, operates without the backing of a stock exchange listing or banking status. With a ForexBrokers.com Trust Score of 71, FXPrimus is considered an average risk broker. The company holds just one Tier-1 license, highlighting a lower regulatory standing compared to Charles Schwab. Clients of FXPrimus should weigh these factors when deciding on their preferred online brokerage service.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab stands out in the forex trading scene with its no minimum deposit requirement for its main brokerage accounts, making it accessible for new traders. Traders using the Schwab One account can access forex trades through the thinkorswim platform, where all trades settle in U.S. dollars. The smallest trade size is 10,000 units, which requires a minimum margin of $500 using 20:1 leverage. For those interested in international securities, the Schwab Global account allows trading in 12 international markets in local currencies, though conversion fees ranging from 0.2% to 1% may apply based on account balance and currency conversion needs. Schwab doesn't charge commissions, instead, the trading cost is driven by the bid/ask spread, with an average of 1.35 pips on EUR/USD, tending towards the higher end within the industry. Overnight carry charges can be calculated within the platform, offering transparency in estimating trading costs.
On the other hand, FXPrimus provides no specific data on average spreads, which could make it challenging for traders to effectively gauge potential trading costs. Both Charles Schwab and FXPrimus receive a solid 4 out of 5 stars for commissions and fees, indicating a competitive offering in terms of financial accessibility and pricing, even though specific metrics like average spreads are unavailable for FXPrimus.
When looking at the rankings, Charles Schwab holds a stronger position, ranked 23rd out of 62 brokers by ForexBrokers.com in the Commissions and Fees category, reflecting its comprehensive offering and no commission charges for forex trades. FXPrimus, while still competent, trails behind at 42nd, suggesting there might be areas where it could optimize its cost structure or transparency regarding trading costs to better serve prospective forex traders.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| 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 FXPrimus provide diverse investment opportunities, yet they cater to different investor needs. Charles Schwab offers an extensive array of 40,000 tradeable symbols, including 73 forex pairs and the ability to trade exchange-traded securities on both U.S. and international exchanges. This impressive selection gives investors the freedom to purchase popular stocks like Apple and Vodafone. While Charles Schwab doesn’t support copy trading or direct cryptocurrency purchases, it offers cryptocurrency derivatives. This wide range of investment options earns Charles Schwab a five-star rating and the 5th rank among 62 brokers in the Range of Investments category according to ForexBrokers.com.
In contrast, FXPrimus provides a more focused portfolio with 140 tradeable symbols, which includes 42 forex pairs. While lacking in direct stock trading on U.S. or international exchanges, FXPrimus does support popular features like copy trading and cryptocurrency derivatives, though not actual cryptocurrencies. With these offerings, FXPrimus garners a 3.5-star rating and ranks 59th out of 62 brokers for Range of Investments by ForexBrokers.com. Both platforms offer forex trading as either CFDs or spot contracts, providing an array of choices for forex traders in particular.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 140 |
| Forex Pairs (Total) | 73 | 42 |
| 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 trading platforms and tools, Charles Schwab and FXPrimus each offer unique features that cater to different types of traders. Both brokers provide simulated trading with free virtual demo accounts and have developed their proprietary platforms. They also support Windows-based desktop downloads and web-based browser trading platforms, ensuring a seamless experience for users across devices. However, FXPrimus offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are absent from Charles Schwab's offerings. This makes FXPrimus appealing for users who favor these industry-standard tools.
Charles Schwab excels in customization with 580 columns available for watch lists, far surpassing FXPrimus's 7 columns. It also offers more drawing tools for charting. On the downside, Schwab does not provide copy trading options, which FXPrimus does. In terms of overall ratings, Charles Schwab receives a perfect 5-star rating for its trading platforms and tools, while FXPrimus earns 4 stars. Ranking-wise, Charles Schwab stands out, securing the 5th spot out of 62 brokers, whereas FXPrimus is ranked at 49. This ranking highlights Schwab's comprehensive suite of trading features that might be more suited for traders seeking robust functionalities and extensive customization.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| 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 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and FXPrimus, both platforms offer dedicated apps for iPhone and Android users, ensuring accessibility across devices. They also provide essential features like stock and forex price alerts, the ability to draw trendlines, and multiple chart timeframes. However, Schwab goes a step further with watchlist symbol syncing, allowing seamless integration with clients' online accounts, whereas FXPrimus does not offer this feature.
Charles Schwab significantly surpasses FXPrimus in the number of technical studies available on its mobile charting platform, offering a staggering 374 compared to FXPrimus's 30. Charles Schwab is favored in reviews, boasting a 5-star rating and ranking 6th out of 62 brokers in the mobile trading apps category, as ranked by ForexBrokers.com. FXPrimus, while still providing a comprehensive experience, lags with a 4-star rating and a rank of 47th. Both apps permit the creation of watchlists with real-time quotes, auto-save of chart drawings, ensuring traders have quick access to critical information at their fingertips.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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 FXPrimus, both brokers provide daily market commentary and access to economic calendars that highlight key global events and trends. However, a key differentiator lies in their provision of forex news. Charles Schwab stands out by offering insights from renowned sources such as Bloomberg, Reuters, and Dow Jones, whereas FXPrimus does not extend the same level of access to top-tier news outlets. For investors prioritizing high-quality market news, Charles Schwab provides a distinct advantage. Both brokers lack tools from Autochartist, Trading Central, and Acuity Trading, as well as sentiment-based trading indicators, signaling room for enhancement in their technical analysis and research toolkits.
In terms of research quality, Charles Schwab significantly outpaces FXPrimus. With a remarkable 5-star rating and a #4 ranking out of 62 brokers by ForexBrokers.com, Charles Schwab demonstrates a strong commitment to providing comprehensive market insights. In contrast, FXPrimus, with a 3-star rating and a #58 position, shows it has more to develop in the research realm. While both brokers cater to those seeking standard market commentary and economic updates, Charles Schwab's superior access to high-caliber news and stronger overall research recognition make it a formidable choice for investors keen on thorough market analysis.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| 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 in forex and CFD trading, both Charles Schwab and FXPrimus offer a solid foundation with a minimum of ten educational pieces such as articles, videos, and archived webinars. Both brokers ensure continuous learning by providing at least one online educational client webinar per month, complete with a searchable archive of previously recorded sessions. However, Charles Schwab distinguishes itself with an extensive library of over ten beginner-focused educational videos, which FXPrimus does not match. Schwab also caters to more experienced traders with over ten advanced educational videos, further broadening its educational coverage.
In addition to video resources, Charles Schwab provides an investor dictionary with definitions of more than 50 investing terms—an offering not available through FXPrimus. The commitment to comprehensive education at Charles Schwab is reflected in its higher ranking: it is rated 5 stars for education by ForexBrokers.com and holds the 6th position among 62 brokers for educational resources. In contrast, FXPrimus, with a 3-star rating, is placed significantly lower at 51st. For beginners eager to deepen their understanding of forex and CFDs, Charles Schwab presents a more expansive and structured educational environment compared to FXPrimus.
| Feature |
Charles Schwab
|
FXPrimus
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 FXPrimus. Charles Schwab finished with an overall rank of #6, while FXPrimus finished with an overall rank of #53.
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
|
FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Charles Schwab and FXPrimus provide opportunities to invest in cryptocurrency derivatives, but neither broker allows the purchase of actual (delivered) cryptocurrency.
While both Charles Schwab and FXPrimus facilitate bank wire transfers for depositing and withdrawing funds, Charles Schwab supports ACH and SEPA transfers unlike FXPrimus, which instead offers more variety with Skrill and credit card options such as Visa and Mastercard, though neither broker accommodates PayPal 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 | FXPrimus | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | FXPrimus | |
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| Regulation | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1971 | 2009 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 140 | |
| Forex Pairs (Total) | 73 | 42 | |
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FXPrimus | |
|---|---|---|---|
| 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 | 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 | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | FXPrimus | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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