Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Markets.com, 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, stands out as a highly trusted online broker with a remarkable ForexBrokers.com Trust Score of 99. As a publicly traded financial institution, Charles Schwab holds five Tier-1 licenses, a testament to its status as a reliable bank and brokerage firm. This firm has set a high standard in the online trading industry, emphasizing transparency and trust. In contrast, Markets.com, founded in 1999, operates as a private entity and does not function as a bank. While it holds three Tier-1 licenses and one Tier-2 license, which indicates a strong trust level, its ForexBrokers.com Trust Score is slightly lower at 93.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Year Founded | 1971 | 1999 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online brokers Charles Schwab and Markets.com, it's clear that both offer different advantages suited to varying trader needs. Charles Schwab requires no minimum deposit for its primary brokerage accounts and presents a broad range of account types, including those that provide access to forex trading via the thinkorswim platform. Schwab's forex trading incurs no commission costs, relying instead on the bid/ask spread; for example, the average spread on the EUR/USD is around 1.35 pips. However, traders should be aware of potential conversion fees when dealing with international markets through the Schwab Global account, ranging from 0.2% to 1% depending on account balance. Schwab receives a commission and fees star rating of 4 out of 5, positioning it at #23 among 62 brokers as per ForexBrokers.com.
On the other hand, Markets.com, while not providing specific average spread data, earns a commission and fees star rating of 3.5 out of 5, which ranks it at #49 out of 62 brokers reviewed by ForexBrokers.com. This indicates a potentially higher cost structure when compared to Schwab, though exact comparisons are tricky without detailed spread information. While Markets.com does not have a standout feature like Schwab's thinkorswim platform, it may still cater to traders who prefer straightforward pricing without the variable fees associated with currency conversions.
In summary, Charles Schwab may better serve traders looking for a wealth of account options and features, though some might find its forex spreads somewhat elevated. Markets.com presents a simpler alternative, though possibly with fewer overall benefits and a somewhat lower rating in commissions and fees. Consequently, choosing between these two brokers largely depends on the specific trading approach and needs of the individual trader.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| 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 | Yes |
| 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.
When considering the range of investment options, Charles Schwab and Markets.com each present their own strengths. Charles Schwab impresses with an extensive offering of 40,000 tradeable symbols, vastly outnumbering Markets.com’s 2,179. Schwab also provides access to both U.S. and international exchange-traded securities, empowering investors to purchase well-known shares like Apple and Vodafone, something Markets.com does not offer. Both platforms support forex trading via CFDs or spot contracts, with Schwab providing slightly more options at 73 forex pairs compared to Markets.com's 57 pairs. Investors at Schwab can also engage with cryptocurrency derivatives, though neither broker allows the purchase of actual cryptocurrencies.
While Markets.com offers the advantage of copy trading, a feature Schwab lacks, it is Charles Schwab that garners higher acclaim for its range of investments. Achieving a 5-star rating and ranking #5 out of 62 brokers, Schwab stands out for its comprehensive investment opportunities. Markets.com, on the other hand, gains a respectable 4-star rating and a rank of #29. Overall, those seeking a wider selection of traditional exchange-traded securities and forex pairs might find Charles Schwab to be the more compelling choice, despite Markets.com's unique offerings like copy trading.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 2179 |
| Forex Pairs (Total) | 73 | 57 |
| 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.
Charles Schwab and Markets.com are both online brokers that provide traders with a range of trading platform options. Both platforms offer simulated trading accounts, allowing investors to practice trading without risking real money. They also each have their own proprietary platforms, along with web-based and Windows desktop download options, making it convenient for users to trade across multiple devices. However, a key difference is that Markets.com supports MetaTrader 4 and MetaTrader 5 platforms, widely favored by forex traders, whereas Charles Schwab does not integrate these platforms. Additionally, Markets.com includes copy trading features for those interested in mirroring others' strategies, a feature that is absent in Charles Schwab’s offerings.
When it comes to charting and trading tools, Charles Schwab provides a more extensive range of options. With 24 drawing tools for charting and the ability to trade directly from stock charts, it allows for a more integrated trading experience. Markets.com, by comparison, offers only four drawing tools and lacks the option to trade directly from charts. In terms of watch list customization, Charles Schwab vastly outperforms with up to 580 columns available, compared to just six with Markets.com. These differences contribute to Charles Schwab’s higher overall rating and its prestigious ranking of #5 out of 62 brokers for trading platforms and tools, while Markets.com holds the #26 spot.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| 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 | 89 |
| Charting - Drawing Tools (Total) | 24 | 4 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and Markets.com, both platforms offer apps compatible with iPhone and Android. Users can benefit from stock or forex price alerts and enjoy watchlist symbol syncing, which ensures any changes made on their mobile or online account are easily updated across platforms. Charles Schwab takes a distinct lead in technical charting features, providing an impressive 374 technical studies, while Markets.com offers none by default on its Markets app, instead relying on the MT4 platform for any such capabilities. Moreover, Schwab allows users to view stock or forex charts across multiple time frames, while this feature is missing in Markets.com's offering.
Chart drawing tools are available on both apps, though only Charles Schwab saves these drawings automatically. In terms of real-time market updates, both platforms support watchlists with real-time quotes, providing users with the latest market moves directly on their devices. Charles Schwab's mobile app has received a higher user rating of five stars compared to Markets.com's four stars. Additionally, in an industry ranking of 62 brokers for mobile trading apps, Charles Schwab secures the 6th place, whereas Markets.com comes in at 33rd, highlighting Schwab's superior offering in this space.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | (default on MT4, none on Markets app) |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both Charles Schwab and Markets.com provide comprehensive market research, including daily market commentary and forex news from respected sources like Bloomberg and Reuters. While neither platform incorporates technical analysis or fundamental research tools from Autochartist or Trading Central, they each offer an economic calendar to keep users informed on global economic events. Notably, Markets.com stands out with its sentiment-based trading tool, which offers insight into long or short positions across various currency pairs, a feature that Charles Schwab does not provide.
When it comes to overall research ratings, Charles Schwab has a slight edge with five stars, compared to Markets.com’s four stars. This higher rating is mirrored in their rankings by ForexBrokers.com, where Charles Schwab is positioned at #4 out of 62 brokers for the Research category, while Markets.com is placed at #17. Despite their differences, both brokers offer a solid foundation for traders seeking daily insights and forex news to inform their trading decisions.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| 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 Charles Schwab and Markets.com for educational resources tailored to beginners, Charles Schwab stands out with a broad offering. It provides comprehensive forex and CFDs education with over 10 diverse educational pieces. Additionally, Charles Schwab has a searchable archive of past client webinars, enhancing the learning experience by enabling easy access to previously held webinars. It also features an extensive investor dictionary with definitions for more than 50 investing terms, making it a valuable resource for newcomers wanting to understand the basics of trading concepts.
Both Charles Schwab and Markets.com offer regular online educational webinars, including topics specifically curated for beginners, and their video libraries cater to both novice and advanced traders. However, Markets.com lacks a searchable archive of past webinars and an extensive investor dictionary, which might limit the educational support it offers to newcomers. In independent education ratings, Charles Schwab is awarded a perfect 5-star rating and ranks 6th out of 62 brokers on ForexBrokers.com. In contrast, Markets.com receives a 4-star rating and ranks 34th, indicating that Charles Schwab provides more comprehensive educational support to those new to trading.
| Feature |
Charles Schwab
|
Markets.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 Markets.com. Charles Schwab finished with an overall rank of #6, while Markets.com finished with an overall rank of #23.
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
|
Markets.com
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 93 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Charles Schwab and Markets.com do not provide the option to buy actual (delivered) cryptocurrency, but they both offer the capability to trade in cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers, Charles Schwab supports ACH, SEPA, and bank wire transfers but doesn't offer PayPal, Skrill, or credit card options, whereas Markets.com does not support ACH or SEPA but facilitates transactions via Skrill, Visa, Mastercard, and bank wires.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Charles Schwab | Markets.com | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | Markets.com | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Charles Schwab | Markets.com | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1971 | 1999 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Markets.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | Markets.com | |
|---|---|---|---|
| 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 | Markets.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 2179 | |
| Forex Pairs (Total) | 73 | 57 | |
| 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 | Markets.com | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Markets.com | |
|---|---|---|---|
| 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 | Markets.com | |
|---|---|---|---|
| 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 | Markets.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 580 | 6 | |
| Charting - Indicators / Studies (Total) | 374 | 89 | |
| Charting - Drawing Tools (Total) | 24 | 4 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Markets.com | |
|---|---|---|---|
| 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 | (default on MT4, none on Markets app) | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Markets.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Markets.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | Markets.com | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | No | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review |
| Overall | Charles Schwab | Markets.com | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill