Written by ForexBrokers.com
In this head to head comparison of IG vs Charles Schwab, 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.
IG and Charles Schwab both enjoy a stellar reputation in the world of online brokerage, each earning a perfect Trust Score of 99 from ForexBrokers.com. This high rating affirms that both companies are considered highly trusted. Founded in 1974, IG is not only publicly traded but also operates as a bank. Similarly, Charles Schwab, established a bit earlier in 1971, holds a publicly-traded status and functions as a bank. These factors contribute to their reliability and trustworthiness in managing financial transactions and investments.
When it comes to regulatory credentials, IG holds a distinct edge with 8 Tier-1 licenses, which are considered highly trusted according to ForexBrokers.com. In addition, IG possesses 2 Tier-2 licenses, indicating a strong regulatory standing. On the other hand, Charles Schwab holds 5 Tier-1 licenses but does not have any Tier-2 licenses. Both brokers have taken considerable strides to establish themselves as secure platforms for trading and investing, yet IG's additional licenses might appeal to customers who prioritize regulatory oversight and safety.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Year Founded | 1974 | 1971 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 8 | 5 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commission and fee structures of IG and Charles Schwab, both platforms offer unique advantages tailored to different types of traders. IG stands out with a 5-star rating for its competitive pricing features, particularly benefiting high-volume traders. With scalable execution across various products, IG offers a unique Forex Direct account with spreads averaging 0.62 pips for EUR/USD during July 2023 and commissions of $60 per million for smaller traders, reducing significantly for higher volumes. Their progressive rebate scheme can further lower costs for professional traders, making IG an attractive choice for those trading larger volumes or seeking direct market access options. Ranked as #8 out of 62 by ForexBrokers.com, IG clearly appeals to active traders seeking flexibility and value.
In contrast, Charles Schwab earns a 4-star rating and is ranked #23 out of 62 brokers. Schwab's forex trading services, accessed through the Schwab One and Schwab Global accounts, offer no commission fees but instead rely on the bid/ask spread, which averaged 1.35 pips on EUR/USD in October 2024. While this spread is slightly above the industry average, Schwab provides comprehensive trading services with no minimum deposit and access to a broad range of financial markets. Despite the higher initial trading costs compared to IG, Schwab's platform requires only a $500 minimum margin based on typical leverage, presenting a lower entry barrier for new forex traders.
Ultimately, the choice between IG and Charles Schwab hinges on trading volume and experience level. IG offers more granular pricing options suitable for high-volume traders, while Charles Schwab provides a straightforward, commission-free trading environment with broader access to international markets. Whether you opt for the specialized, cost-effective pricing of IG or the versatile, user-friendly experience of Charles Schwab, both brokers present legitimate avenues to meet various trading needs.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.35 |
| All-in Cost EUR/USD - Active | 0.82 | 1.35 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When considering online brokers for a broad spectrum of investment options, both IG and Charles Schwab stand out as top choices, each earning five-star ratings for their array of offerings. IG provides access to a whopping 19,537 tradeable symbols, while Charles Schwab offers an even more extensive selection with 40,000 tradeable symbols. For those interested in forex trading, IG offers an impressive 97 forex pairs compared to 73 from Charles Schwab. Both brokers facilitate forex trading as a CFD or spot contract, allowing clients to engage in this financial market with ease. Additionally, both platforms support the purchase of stocks on U.S. and international exchanges, like Apple and Vodafone, enhancing the global investment offerings available to their clients.
For investors looking into cryptocurrencies, neither IG nor Charles Schwab allows the purchase of actual cryptocurrencies, but they do offer trading in cryptocurrency derivatives. However, neither broker includes copy trading in their offerings. While IG ranks slightly higher at #4 compared to Charles Schwab at #5 on ForexBrokers.com for their range of investments, both brokers deliver excellent choices for a multitude of asset classes. This comparison shows that whether you prioritize a larger number of tradable symbols, or perhaps a specific focus on forex or international stocks, both IG and Charles Schwab are capable candidates for diverse investment portfolios.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 40000 |
| Forex Pairs (Total) | 97 | 73 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| 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.
IG and Charles Schwab both offer versatile trading platforms that cater to a wide range of traders, whether you're just starting or are a seasoned investor. Both brokers provide traders with free virtual demo accounts, allowing users to test their strategies without any financial risk. They each boast proprietary, in-house developed platforms, which are accessible through downloadable desktop applications for Windows as well as web-based browsers. Traders can seamlessly execute trades directly from stock charts with both brokers. However, a key difference is that IG supports MetaTrader 4 (MT4), a popular platform among forex traders, whereas Charles Schwab does not offer MT4 support. Neither broker offers copy trading options or support for MetaTrader 5, DupliTrade, or ZuluTrade.
When it comes to technical tools, IG provides around 20 drawing tools for charting, compared to Charles Schwab's 24. Additionally, Charles Schwab significantly outshines IG in terms of watch list customization, offering a whopping 580 fields compared to IG's five. Despite these differences in specific features, both IG and Charles Schwab hold strong reputations, each receiving a five-star rating for their trading platforms and tools. Ranked by ForexBrokers.com, IG is positioned at #2, while Charles Schwab follows closely at #5 among 62 brokers. Whether you prefer IG’s inclusion of MT4 or Charles Schwab’s more extensive customization options, both platforms are recognized for their excellent trading tools and user experience.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 374 |
| Charting - Drawing Tools (Total) | 20 | 24 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 580 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, both IG and Charles Schwab cater to iPhone and Android users, ensuring a wide reach for traders on the go. Both platforms provide essential features like stock and forex price alerts and convenient syncing of watchlists across devices and online accounts. Traders can also enjoy functionalities such as drawing trendlines and exploring various time frames on stock or forex charts, with automatic saving of any drawings made. Real-time quotes and the ability to create personalized watchlists further enhance the trading experience on both apps.
IG offers a selection of 33 technical studies in its mobile charting tools, while Charles Schwab vastly expands this range with 374 studies, catering to traders who desire deep analysis. Both apps have garnered a perfect 5-star rating for mobile trading capabilities, reflecting the quality and user satisfaction they deliver. However, IG notably stands out, claiming the top position in ForexBrokers.com’s ranking among 62 brokers, whereas Charles Schwab holds a respectable sixth place. These rankings highlight IG's edge in the mobile trading domain, attracting traders seeking streamlined and feature-rich experiences.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 374 |
| 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 it comes to market research, both IG and Charles Schwab provide valuable resources. Each offers daily market commentary and access to top-tier forex news sources, such as Bloomberg and Reuters, ensuring that users stay informed about the latest market developments. Both platforms also feature economic calendars that display global news events, helping traders stay abreast of important economic announcements around the globe.
However, IG sets itself apart with additional tools and resources. IG provides access to technical and fundamental research tools from Autochartist, while Charles Schwab does not. IG also includes sentiment-based trading tools to give insights into currency pair positions, which is missing from Schwab's offerings. Furthermore, IG leverages market research from TipRanks and Acuity Trading, adding more analytic depth compared to Charles Schwab. While both brokers receive top ratings for their research, with IG scoring a perfect 5 stars and Schwab doing the same, IG is ranked higher at #2 among 62 brokers by ForexBrokers.com for its comprehensive research tools, while Charles Schwab is ranked #4.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the online brokers IG and Charles Schwab for their educational resources available to beginners, both stand out as excellent choices, offering a variety of informative materials. IG provides a wealth of educational content, including more than 10 articles, videos, and webinars focused on forex or CFDs, with new webinars available monthly. They also maintain a searchable archive of past webinars, making learning accessible at any time. Additionally, IG caters to both beginner and advanced traders with at least 10 educational videos tailored to each group, along with an extensive investor dictionary defining over 50 investing terms. Recognized for its comprehensive educational offerings, IG earns a commendable 5-star rating and is ranked as the top provider for education by ForexBrokers.com out of 62 brokers reviewed.
Similarly, Charles Schwab offers significant educational resources that cater well to newcomers in the trading world. They provide more than 10 forex or CFDs-focused materials, along with monthly online webinars to aid clients' learning journeys. A searchable archive of these webinars ensures that users can revisit or explore new topics at their convenience. Like IG, Charles Schwab delivers educational videos for both beginner and advanced traders and an investor dictionary explaining over 50 important terms. Also earning a 5-star educational rating, Charles Schwab holds the 6th position in ForexBrokers.com's education rankings. Though slightly lower than IG's ranking, Charles Schwab's educational services remain impressive and deeply valuable to beginner traders.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| 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 IG is better than Charles Schwab. IG finished with an overall rank of #1, while Charles Schwab finished with an overall rank of #6.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both IG and Charles Schwab do not offer the ability to purchase actual delivered cryptocurrency, but they do provide options to buy cryptocurrency derivatives.
In comparing online brokers IG and Charles Schwab regarding their account funding options, both support ACH and SEPA transfers as well as bank wires for deposits and withdrawals, but IG stands out by offering additional flexibility with PayPal and Visa or Mastercard options, whereas Charles Schwab does not, and neither platform supports 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 | IG | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Charles Schwab Review |
| Broker Screenshots | IG | Charles Schwab | |
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| Regulation | IG | Charles Schwab | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1971 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 5 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 40000 | |
| Forex Pairs (Total) | 97 | 73 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| 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 | IG | Charles Schwab | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.35 | |
| All-in Cost EUR/USD - Active | 0.82 | 1.35 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | Charles Schwab | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 580 | |
| Charting - Indicators / Studies (Total) | 33 | 374 | |
| Charting - Drawing Tools (Total) | 20 | 24 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Charles Schwab | |
|---|---|---|---|
| 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 | 33 | 374 | |
| 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 | IG | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Charles Schwab | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Charles Schwab | |
|---|---|---|---|
| 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 | IG Review | Charles Schwab Review |
| Overall | IG | Charles Schwab | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Charles Schwab Review |
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