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 it comes to commissions and fees, IG is generally the lower-cost choice for active forex traders. IG does not position itself as a discount broker, but its pricing can be very competitive, especially through its Forex Direct DMA account and volume-based rebates. Average EUR/USD spreads on IG’s main Forex Direct offering were 0.62 pips in July 2023, with an estimated all-in cost of 0.82 pips after commission. On its CFD accounts, IG’s typical spreads were also close to the industry average, and high-volume traders may qualify for rebates that can reduce costs even further. IG is rated 5 stars and ranked #7 out of 36 brokers for commissions and fees.
Charles Schwab has a simpler fee setup for forex: it does not charge direct forex trading commissions, so your main cost is the bid/ask spread. That makes pricing easy to understand, but its average EUR/USD spread of 1.35 pips in October 2024 was on the higher side compared with many rivals. Schwab’s account structure can still appeal to traders who want access to thinkorswim and broader banking or investing services, but for forex spreads alone, it is usually less cost-friendly than IG. Charles Schwab is rated 4 stars and ranked #23 out of 36 brokers for commissions and fees.
In short, if your main focus is keeping forex trading costs low, IG has the edge over Charles Schwab. Schwab may be attractive for its all-in-one investing setup and no-commission forex trading, but IG’s tighter spreads and rebate options make it the stronger pick for cost-conscious active traders.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Minimum Deposit | £1 | $0 |
| Average spread (EUR/USD) - Standard account | 0.91 | 1.27 |
| All-in Cost EUR/USD - Active | 0.82 | 1.27 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and Charles Schwab both give traders access to forex as either a CFD or spot contract, and both also support buying exchange-traded securities on U.S. and international markets. Where they differ is in the size and type of choices available. Charles Schwab lists more total tradeable symbols overall, with about 40,000 compared with IG’s 19,537, while IG offers more forex pairs, with 97 versus Schwab’s 73. Both brokers also provide cryptocurrency CFDs, but only IG lets clients buy actual cryptocurrency, not just a CFD.
In terms of market range, both brokers earn 5 out of 5 stars for Range of Investments. On ForexBrokers.com, IG is ranked #4 out of 36 brokers in this category, while Charles Schwab is ranked #5. Neither broker offers copy trading, so investors looking for that feature will need to look elsewhere. Overall, IG may appeal to traders who want more forex pairs and direct crypto access, while Charles Schwab stands out for its larger total number of tradeable symbols.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 40000 |
| Forex Pairs (Total) | 97 | 73 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | No |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | 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 give traders a strong mix of platform choices, including a proprietary platform, a web-based trading platform, and a Windows desktop download. Each broker also offers a free simulated trading account, so beginners can practice before using real money. Both platforms let you trade directly from a chart, which can make order placement quicker and easier. In ForexBrokers.com’s Trading Platforms and Tools review, both IG and Charles Schwab earned 5 out of 5 stars.
Where IG stands out is support for MetaTrader 4 and MetaTrader 5, which Charles Schwab does not offer. That may matter if you want access to more familiar third-party trading software or prefer the tools available in the MetaTrader ecosystem. Neither broker offers copy trading. Overall, IG is ranked #1 out of 36 brokers for trading platforms and tools, while Charles Schwab is ranked #7, making IG the stronger pick for traders who want more platform variety.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 33 | 374 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and Charles Schwab both offer mobile trading apps for iPhone and Android, along with stock and forex price alerts, watchlist symbol syncing, trendline drawing, and auto-saving chart drawings. In other words, both apps cover the core tools most traders look for when managing an account on the go. Each broker also earns a 5-star rating for mobile trading apps, so both are strong choices for everyday mobile use.
The main difference is in charting depth. IG offers 33 technical studies in its mobile app, while Charles Schwab provides 374, giving Schwab a much wider set of chart analysis tools. Even so, IG ranks #1 out of 36 brokers for Mobile Trading Apps at ForexBrokers.com, compared with Charles Schwab’s #6 ranking, which shows that IG stands out for overall mobile app experience while Schwab offers more advanced charting options.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 374 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IG and Charles Schwab both do well for market research, and each gives traders daily market commentary, forex news from top sources like Bloomberg, Reuters, and Dow Jones, plus an economic calendar with key global events. Both firms also earn 5 stars for Research, showing that each offers a strong set of tools and content for traders who want to stay informed.
Where IG stands out is in the extra research tools it provides. IG offers Autochartist, sentiment data that shows long and short positioning, TipRanks research, and Acuity Trading tools such as Signal Centre, while Charles Schwab does not offer these features. That difference helps explain why IG ranks #2 out of 36 brokers for Research, compared with Charles Schwab at #5.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner learning tools, both IG and Charles Schwab give new traders plenty to work with. Each broker offers forex or CFD education with at least 10 learning pieces, along with monthly online webinars and at least 10 beginner videos focused on trading basics. They also both provide at least 10 advanced videos for more experienced traders, so learners can keep building skills as they gain confidence.
For education overall, both brokers earn top marks, with a 5-star rating from ForexBrokers.com. Charles Schwab edges out IG slightly in the Education category, ranking #6 out of 36 brokers compared with IG’s #7. In simple terms, both are strong choices for beginners, but Schwab has a small lead in the overall education ranking.
| Feature |
IG
|
Charles Schwab
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 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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In cryptocurrency trading, IG lets you buy actual delivered crypto and trade cryptocurrency CFDs, while Charles Schwab does not support buying actual crypto but does offer cryptocurrency CFDs.
IG vs Charles Schwab: Both brokers support ACH/SEPA transfers and bank wire deposits and withdrawals, neither supports Skrill, and only IG offers PayPal (Charles Schwab does not).
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 (FSA Authorised) | Yes | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | Charles Schwab | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | Yes | ||
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| Jordan (JSC Authorised) |
| Investments | IG | Charles Schwab | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 40000 | |
| Forex Pairs (Total) | 97 | 73 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | No | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | 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 account | 0.91 | 1.27 | |
| All-in Cost EUR/USD - Active | 0.82 | 1.27 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | No |
| Funding | IG | Charles Schwab | |
|---|---|---|---|
| Minimum Deposit | £1 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | IG | Charles Schwab | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | IG | Charles Schwab | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 374 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 374 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | Charles Schwab | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Charles Schwab | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IG | Charles Schwab | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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