Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs IFC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Charles Schwab and IFC Markets offer online brokerage services, but they differ significantly in aspects related to trust and regulation, which can be crucial for investors. Founded in 1971, Charles Schwab is a prominent name in the financial industry, publicly traded and operating as a bank. This standing is supported by its five Tier-1 licenses, considered highly trusted by ForexBrokers.com. Charles Schwab has earned a top Trust Score rating of 99, placing it at the highest level of trustworthiness for brokers.
In contrast, IFC Markets, established in 2006, is not publicly traded and doesn't function as a bank. It holds one Tier-2 license, with no Tier-1 licenses, and thus attracts a Trust Score rating of 73 from ForexBrokers.com, indicating an average risk level. These differences highlight the gap in perceived trust and reliability, with Charles Schwab offering a more established and trusted option for those prioritizing strong regulatory oversight.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Year Founded | 1971 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and IFC Markets both offer competitive options for forex trading, but they differ significantly in their approach to commissions and fees. Charles Schwab shines with no commissions for forex trading, instead earning from the bid/ask spread across its currency pairs. This makes it a compelling choice for traders who value flat-rate trading costs. The average spread on the popular EUR/USD pair in October 2024 was 1.35 pips, slightly on the higher side of industry norms. Schwab provides a useful overnight carry charge calculator through its thinkorswim platform, enabling traders to estimate the costs of holding positions overnight. Rated four stars for commissions and fees, Schwab ranks 23rd out of 62 brokers on ForexBrokers.com.
IFC Markets, on the other hand, does not provide average spread data, which can make it challenging for traders to anticipate potential costs in advance. This lack of transparency might be a consideration, especially for those who value clear-cut expenditure expectations in their trading practices. Like Schwab, IFC Markets also garners a four-star rating for commissions and fees but is ranked lower at 39th out of 62 brokers by ForexBrokers.com. This suggests that while it stands on par with Schwab in terms of rating, it may not be as favored based on criteria used by ForexBrokers.com.
Both brokers present unique advantages depending on your trading needs. Schwab is suited for traders who appreciate the comfort of a no-commission model and access to international markets in local currencies through its Schwab Global account, though currency conversion fees apply. Meanwhile, IFC Markets may interest those who are less concerned with upfront transparency in spread data but still seek a broker with a strong overall reputation in the market.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $1 |
| Average Spread EUR/USD - Standard | 1.35 | 1.44 |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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 it comes to the range of investments, Charles Schwab and IFC Markets offer different experiences for investors. Charles Schwab stands out with an impressive selection of 40,000 tradeable symbols and access to 73 forex pairs, providing a broad array of choices for traders. In addition to forex, Schwab clients can purchase exchange-traded securities on both U.S. and international exchanges, allowing them to easily invest in major companies like Apple and Vodafone. While Schwab doesn’t offer copy trading or direct cryptocurrency purchases, it provides cryptocurrency derivatives, adding further diversity to its trading portfolio. This expansive selection earns Charles Schwab a 5-star rating in the Range of Investments category and a #5 ranking by ForexBrokers.com among 62 brokers.
On the other hand, IFC Markets offers a more streamlined selection with 630 tradeable symbols and 49 forex pairs. While it lacks the ability to purchase U.S. listed exchange-traded securities, traders can still access international stocks and engage in forex trading through contracts for difference (CFDs) or spot contracts. Additionally, IFC Markets supports copy trading, which might appeal to those interested in following successful strategies. Like Charles Schwab, IFC Markets also provides options for trading cryptocurrency derivatives. However, with its more limited range of options, IFC Markets holds a 3.5-star rating in the Range of Investments category and stands at #43 among its peers as per ForexBrokers.com.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 630 |
| Forex Pairs (Total) | 73 | 49 |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of Charles Schwab and IFC Markets, both firms offer the essential features that traders look for, such as simulated trading through free virtual demo accounts and proprietary platforms developed in-house. Both brokers provide Windows-based desktop download platforms and web-based trading, allowing for versatile access to trading opportunities. While Charles Schwab does not support MetaTrader 4 or 5, IFC Markets does, which might appeal to traders who prefer these popular platforms. Additionally, copy trading is available with IFC Markets, but not with Charles Schwab.
Despite the differences in support for third-party platforms, Charles Schwab shines with its sophisticated technical tools, offering 24 drawing tools for charting and an extensive 580 columns for watch lists, compared to IFC Markets' 15 drawing tools and 7 columns. Both platforms support trading directly from stock charts, enhancing user experience. As a result, Charles Schwab is highly rated with 5 stars for its trading platforms and tools, ranked #5 by ForexBrokers.com. In contrast, IFC Markets, with a 4-star rating, finds itself ranked #36, reflecting a gap in user offerings and market perception between these two online brokers.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| 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 choosing a mobile trading app, Charles Schwab and IFC Markets both provide solid options for on-the-go trading. Both offer apps for iPhone and Android users, ensuring accessibility no matter your device. You can receive stock or forex price alerts and sync watchlists seamlessly between your mobile and online accounts with either app. While both platforms allow drawing trendlines and viewing multiple time frames on charts, a key difference lies in the range of technical studies offered. Charles Schwab boasts an impressive 374 technical studies for in-depth analysis, compared to IFC Markets' offering of 30. Both apps provide auto-save for chart drawings and allow users to create watchlists with real-time quotes, ensuring that your trading experience remains uninterrupted.
In terms of ratings and rankings, Charles Schwab stands out with a five-star rating for its mobile trading app, while IFC Markets follows with a respectable four stars. According to ForexBrokers.com, Charles Schwab holds a top-tier position, ranked sixth out of 62 brokers for mobile trading apps. Meanwhile, IFC Markets is placed at 52nd in the same category. For traders seeking an expansive set of tools and proven user satisfaction, Charles Schwab might edge ahead, but IFC Markets remains a viable option with essential features for effective trading.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| 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.
Charles Schwab and IFC Markets both provide daily market commentary and economic calendars to keep traders informed about global news events. However, when it comes to forex news from top-tier sources like Bloomberg and Reuters, Charles Schwab stands out as IFC Markets does not offer this service. While both brokers lack tools from Autochartist and Trading Central, IFC Markets differentiates itself by providing a sentiment-based trading tool that tracks positions across currency pairs, unlike Charles Schwab.
In terms of research quality, Charles Schwab has a stronger reputation, earning a 5-star rating and ranking 4th in the Research category according to ForexBrokers.com. Meanwhile, IFC Markets holds a 3.5-star rating and is placed 40th out of 62 brokers. Both brokers do not offer market research tools from companies like TipRanks and Acuity Trading, which could be an area for potential improvement. Overall, Charles Schwab seems to provide a more comprehensive market research experience for traders seeking reliable information and insights.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| 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 | 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 in trading between Charles Schwab and IFC Markets, Charles Schwab distinctly stands out. Both brokers provide at least ten educational materials focused on forex and CFDs, including articles, videos, and possibly archived webinars, making them useful for those starting. However, Charles Schwab enhances the learning experience by offering online client webinars every month, unlike IFC Markets, which does not provide such regular live sessions. Furthermore, Charles Schwab maintains a searchable archive of past webinars, providing easy access to a wealth of knowledge at any time.
Beyond webinars, both Charles Schwab and IFC Markets offer a substantial library of beginner educational videos focusing on trading. They also cater to advanced traders with a collection of videos tailored for more experienced audiences. Both platforms include an investor dictionary with definitions of over 50 investing terms, adding a valuable reference tool for users. Despite these similarities, Charles Schwab's educational offerings are highly rated with 5 stars, ranking them #6 out of 62 brokers, while IFC Markets lags with a 3.5-star rating, placed at #30. This difference underscores Charles Schwab's leading role in providing engaging and accessible educational content for traders of all levels.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 IFC Markets. Charles Schwab finished with an overall rank of #6, while IFC Markets finished with an overall rank of #44.
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
|
IFC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 73 |
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Both Charles Schwab and IFC Markets do not offer the ability to purchase actual delivered cryptocurrency, but they both provide options for trading cryptocurrency derivatives.
When comparing online brokers, Charles Schwab supports ACH and SEPA transfers alongside bank wire options for account transactions, whereas IFC Markets provides Visa/Mastercard options and also supports bank wires but lacks ACH, SEPA, PayPal, and Skrill as payment methods.
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 | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | IFC Markets | |
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| Regulation | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1971 | 2006 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 630 | |
| Forex Pairs (Total) | 73 | 49 | |
| 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). |
| Cost | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.44 | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $1 | |
| 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 | No |
| Trading Platforms | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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