Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs FxPro, 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.
When comparing Charles Schwab and FxPro, it's important to consider their backgrounds and trustworthiness ratings. Founded in 1971, Charles Schwab is a well-established name in the financial industry, and as a publicly traded company, it also operates as a bank. This status is further reinforced by its possession of five Tier-1 licenses, which are among the highest regarded in the trust department. Coupled with a perfect Trust Score of 99 from ForexBrokers.com, Charles Schwab stands out as a highly trusted option for online brokerage services.
In contrast, FxPro was founded more recently in 2006 and is privately held, which means it is not listed on any stock exchange. Unlike Charles Schwab, FxPro is not a bank, but it still holds a solid position in the brokerage industry with two Tier-1 licenses and one Tier-2 license. This structure earns FxPro a Trust Score of 90, placing it in the highly trusted category according to ForexBrokers.com. While both brokers are reliable, Charles Schwab's longer history and bank status, alongside its top Trust Score, make it a more established choice for investors prioritizing trust and regulatory strength.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Year Founded | 1971 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When it comes to commissions and fees, Charles Schwab stands out by not requiring a minimum deposit for its primary brokerage accounts, like Schwab One and Schwab Global. This makes it accessible for new investors interested in forex trading. Currency trades are settled in U.S. dollars, with a minimum trade size of 10,000 units, meaning at least $500 in margin is needed due to a 20:1 leverage. Schwab doesn’t charge commissions for forex trades; instead, its trading costs are composed of the bid/ask spread, averaging 1.35 pips on the EUR/USD pair. Additionally, overnight carry charges can be calculated within the thinkorswim platform. Schwab scores 4 out of 5 stars for commissions and fees and is ranked #23 out of 62 brokers by ForexBrokers.com.
FxPro offers an alternative with its commission-based pricing model, particularly competitive on its cTrader platform. Here, the effective spread on the EUR/USD can be approximately 1.27 pips, combining the average spread of 0.37 pips with a 0.9 pip commission-equivalent. Traders on FxPro’s MT4 and MT5 platforms can select between variable or fixed spreads, though no fixed pricing is available on MT5. Floating spreads on these platforms feature EUR/USD spreads of 1.58 pips for market execution accounts and 1.71 for instant execution. They also have an Active Trader program under its Elite account, providing discounts of up to 30%. FxPro matches Schwab with a 4-star rating for commissions and fees but is ranked slightly lower at #32 among 62 brokers on ForexBrokers.com.
In conclusion, Charles Schwab and FxPro each offer unique advantages: Schwab with no minimum deposit requirement and low commission trading via spread costs, and FxPro with competitive spreads on cTrader and a discount program for frequent traders. While both have a 4-star rating for commissions and fees, Schwab leads in overall ranking according to ForexBrokers.com.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.51 |
| All-in Cost EUR/USD - Active | 1.35 | 1.27 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Charles Schwab and FxPro for their investment options, Charles Schwab clearly offers a wider range of tradable symbols with a count of 40,000 compared to FxPro’s 2,249. Both platforms support forex trading as a CFD or spot contract and provide a large selection of forex pairs, with Charles Schwab offering 73 pairs and FxPro closely following with 70. For those interested in stock trading, Charles Schwab provides the advantage of offering exchange-traded securities on U.S. exchanges, allowing clients to directly buy shares such as Apple. In contrast, FxPro lacks this offering but compensates by allowing the purchase of foreign stocks, similar to Charles Schwab, providing opportunities like buying Vodafone shares on the London Stock Exchange.
In terms of additional trading features, FxPro provides the benefit of copy trading, a feature absent from Charles Schwab. However, neither broker offers the ability to buy actual cryptocurrencies, though both allow trading in cryptocurrency derivatives. Overall, Charles Schwab tends to excel in providing a broader range of investment opportunities, achieving a top-tier rating of 5 stars and ranking 5th among 62 brokers by ForexBrokers.com. FxPro earns a commendable 4 stars, securing the 28th rank in the same category, making both brokers strong contenders, albeit with distinct areas of focus and available investment products.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2249 |
| Forex Pairs (Total) | 73 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 FxPro, both brokers offer simulated trading accounts and have developed proprietary platforms. They each provide Windows-based desktop platforms as well as web-based options. However, FxPro differentiates itself with support for MetaTrader 4 and MetaTrader 5, which Charles Schwab does not offer. Additionally, FxPro supports copy trading, a feature that Charles Schwab lacks. Despite these advantages, Charles Schwab still offers an extensive selection of charting tools, with an impressive 580 columns for watch lists compared to FxPro's 6, and includes the ability to trade directly from stock charts, similar to FxPro.
Charles Schwab's trading platforms and tools merit a 5-star rating, securing the #5 spot out of 62 brokers on ForexBrokers.com. Meanwhile, FxPro receives a solid 4-star rating, holding the 19th position. While both brokers provide comprehensive trading experiences, Charles Schwab's higher ranking and more extensive watch list features may offer a more complete service for traders seeking advanced customization. On the other hand, FxPro’s offering of MetaTrader platforms may appeal to those prioritizing access to popular third-party software and copy trading capabilities.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| 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 | 53 |
| Charting - Drawing Tools (Total) | 24 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and FxPro offer versatile mobile trading apps compatible with iPhones and Android devices, ensuring easy accessibility for users. Each app supports the delivery of stock or forex price alerts and allows the syncing of watchlists with the user's online account, enabling seamless modifications from either location. Users can also draw trendlines on charts and view multiple time frames like daily or weekly data, with the assurance that any drawings will be automatically saved for future reference. Additionally, both apps provide the option to create watchlists featuring real-time quotes, catering to the dynamic needs of traders on the go.
When it comes to charting, Charles Schwab offers a more extensive range of technical studies, boasting 374 options compared to FxPro's 65, allowing traders to engage in more detailed market analysis. While both apps are highly rated, Charles Schwab holds a slight edge with a 5-star rating in mobile trading apps, as opposed to FxPro's 4.5-star rating. Reflecting this acclaim, Charles Schwab is ranked 6th out of 62 brokers for mobile trading apps by ForexBrokers.com, while FxPro is ranked at 15th position. These distinctions highlight Charles Schwab's slight advantage in terms of both functionality and overall user satisfaction in the mobile trading space.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 65 |
| 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.
Both Charles Schwab and FxPro provide valuable market research tools for their users, including daily market commentary and forex news from sources such as Bloomberg and Reuters. While both brokers offer economic calendars to keep you updated on global news events, they diverge when it comes to analytical tools. FxPro stands out by offering Trading Central tools and sentiment-based trading options, which show the ratio of long or short positions across currency pairs. Charles Schwab, on the other hand, does not currently offer these features.
Despite FxPro's broader range of tools, Charles Schwab holds an advantage in overall research quality, earning a top-tier rating of 5 stars compared to FxPro's 4 stars according to ForexBrokers.com. This higher rating contributes to Charles Schwab's impressive ranking of 4th out of 62 brokers in the research category, whereas FxPro is ranked 27th. Therefore, for traders who prioritize well-rounded research capabilities, Charles Schwab may present a more appealing option.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| 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 educational resources for beginners between Charles Schwab and FxPro, both brokers provide a solid foundation for newcomers to forex and CFDs trading. Both platforms present at least 10 educational pieces in various formats, such as articles, videos, and archived webinars, aimed at forex and CFDs. However, Charles Schwab goes a step further by offering monthly live webinars and an extensive archive of recorded sessions. This includes more than 10 educational videos specifically designed for beginners that cater to those new to trading, alongside advanced videos for seasoned traders. FxPro matches Schwab in delivering beginner videos but lacks advanced content aimed at experienced traders. Additionally, Schwab's investor dictionary is a helpful tool with over 50 investing terms, which FxPro also provides.
In terms of ratings and rankings, Charles Schwab stands out with a top-tier education rating of five stars and is ranked sixth in the Education category among 62 brokers on ForexBrokers.com. In contrast, FxPro, rated four stars for education, holds the 17th position in the same category. These distinctions underscore Charles Schwab's commitment to offering comprehensive educational resources for traders at all skill levels, making it a highly recommended choice for those looking to deepen their trading knowledge. While FxPro offers valuable educational material, especially for beginners, it does not match Charles Schwab's breadth of advanced resources and regular interactive learning opportunities.
| Feature |
Charles Schwab
|
FxPro
|
|---|---|---|
| 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 FxPro. Charles Schwab finished with an overall rank of #6, while FxPro finished with an overall rank of #21.
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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FxPro
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 90 |
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Both Charles Schwab and FxPro do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
While both Charles Schwab and FxPro allow the use of ACH or SEPA transfers and bank wires for depositing or withdrawing funds, FxPro offers additional flexibility by accepting PayPal, Skrill, and Visa or Mastercard, which Charles Schwab does not provide.
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 | FxPro | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
| Broker Screenshots | Charles Schwab | FxPro | |
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| Regulation | Charles Schwab | FxPro | |
|---|---|---|---|
| Trust Score | 99 | 90 | |
| Year Founded | 1971 | 2006 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 2249 | |
| Forex Pairs (Total) | 73 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | FxPro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.51 | |
| All-in Cost EUR/USD - Active | 1.35 | 1.27 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | FxPro | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 53 | |
| Charting - Drawing Tools (Total) | 24 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | FxPro | |
|---|---|---|---|
| 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 | 65 | |
| 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 | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| 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 | FxPro | |
|---|---|---|---|
| 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 | FxPro Review |
| Overall | Charles Schwab | FxPro | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | FxPro Review |
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