Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Plus500, 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.
Founded in 1971, Charles Schwab is a well-established online broker that is also a publicly traded bank. In terms of regulation, Charles Schwab holds an impressive number of Tier-1 licenses, totaling five. This high level of licensing contributes to its perfect Trust Score rating of 99, as determined by ForexBrokers.com. With a solid foundation in the financial industry, Charles Schwab stands out as a highly trusted choice for investors.
Plus500, established in 2008, is another prominent online broker that is publicly traded but not a bank. It surpasses Charles Schwab in its regulatory footprint by holding six Tier-1 licenses and an additional three Tier-2 licenses. Like Charles Schwab, Plus500 also achieves a top Trust Score rating of 99, making it equally dependable for those interested in online trading. Both brokers offer a blend of trust and regulatory compliance, though with slightly different aspects and histories.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Year Founded | 1971 | 2008 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 6 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab and Plus500 both offer forex trading with different fee structures and trading platforms suited to various needs. Charles Schwab offers two main account types for forex trading: Schwab One and Schwab Global. Schwab One provides access to the thinkorswim platform to trade in U.S. dollars. However, trades must be conducted in minimum sizes of 10,000 units, requiring a minimum margin of $500 based on 20:1 leverage. The Schwab Global account allows trading in twelve international markets in local currencies, with conversion fees between 0.2% and 1%. Impressively, Schwab's forex trading is commission-free, with costs arising from bid/ask spreads. In October 2024, the average spread for EUR/USD was 1.35 pips, slightly above the industry average. Schwab earned a solid 4-star rating out of five for commissions and fees and is ranked #23 among 62 brokers by ForexBrokers.com.
Plus500, on the other hand, does not offer retail client discounts but does have a cash rebate program for those qualifying as Professional clients. The average spread for the EUR/USD at Plus500 in April 2024 was 1.5 pips, which is higher than the industry standard. Despite potentially higher costs, Plus500 also holds a 4.0 out of five stars rating for commissions and fees from ForexBrokers.com, positioning it at #25 among 62 brokers. If you're considering an active trader program, you may want to compare Plus500 with other platforms like IG or Saxo that might offer better pricing structures for high-volume traders.
In conclusion, both Charles Schwab and Plus500 provide viable options for forex traders, but with distinctions in trading costs and account features. Schwab's commission-free trading with bid/ask spread costs and access to multiple international markets stands out, especially for traders comfortable with U.S. dollar transactions or multiple currency balances. Plus500 might appeal to traders prioritizing cash rebate programs and professional trading status. Evaluating trading frequencies and potential costs can help determine which broker aligns better with your trading goals.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.5 |
| All-in Cost EUR/USD - Active | 1.35 | 1.5 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| 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 Plus500 for their range of available investments, both brokers offer a variety of options for traders, but with some key differences. Charles Schwab stands out with an impressive offering of 40,000 tradeable symbols, including 73 forex pairs available through both CFD and spot contracts. They also provide access to exchange-traded securities on both U.S. and international exchanges, enabling clients to purchase shares such as Apple and Vodafone. While Charles Schwab does not offer features like copy trading or the purchase of actual cryptocurrencies, it does support cryptocurrency derivatives, making it a comprehensive choice for those focused on traditional and derivative trading.
Plus500, while slightly trailing in the number of options with 5,500 tradeable symbols, still presents a strong portfolio with 65 available forex pairs as CFDs. Similar to Charles Schwab, Plus500 users can trade exchange-traded securities from U.S. and international exchanges, and engage in cryptocurrency derivative trading. However, Plus500 lacks provisions for buying actual cryptocurrencies and copy trading. In terms of ratings, Charles Schwab garners a full 5-star rating for its range of investments and ranks 5th out of 62 brokers by ForexBrokers.com, compared to Plus500’s 4.5-star rating and a 24th place ranking, reflecting its more expansive investment offerings.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 5500 |
| Forex Pairs (Total) | 73 | 65 |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
When comparing Charles Schwab and Plus500 trading platforms, both brokers offer users the advantage of simulated trading through free virtual demo accounts, perfect for beginners to practice their skills. Each provides its own proprietary platform, ensuring a customized trading experience, but only Charles Schwab offers the option to download a dedicated Windows-based desktop platform. Both brokers support web-based trading, allowing access directly through a browser without the need for additional software. Notably absent from both companies are options for copy trading and support for popular trading platforms such as MetaTrader 4 and 5. Meanwhile, DupliTrade and ZuluTrade integrations are also not available.
Charles Schwab stands out with more comprehensive features, such as 24 drawing tools and the ability to execute trades directly from stock charts, something Plus500 does not offer. While both provide a moderate range of technical indicators, Charles Schwab impresses with a staggering 580 fields for watch lists, compared to Plus500's 10. Overall, Charles Schwab achieves a five-star rating in trading platforms and tools and ranks #5 out of 62 brokers according to ForexBrokers.com. Plus500, with a 4.5-star rating, ranks #14 in the same survey. These distinctions highlight Charles Schwab's superior offerings in platform versatility and functionality.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 114 |
| Charting - Drawing Tools (Total) | 24 | 22 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 10 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When diving into mobile trading, both Charles Schwab and Plus500 offer robust apps that cater to traders using both iPhone and Android devices. Both apps support essential features such as stock and forex price alerts and watchlist symbol syncing, ensuring your changes are synchronized between the mobile apps and your online accounts. However, Charles Schwab pulls ahead with an impressive 374 technical studies available for charting compared to Plus500's 110. Both platforms allow for drawing trendlines and viewing multiple timeframes on charts, though Schwab's app has the added benefit of auto-saving your chart drawings, a feature Plus500 lacks.
For those interested in real-time updates, both apps allow users to create watchlists with real-time quotes. Charles Schwab's mobile app is rated a full five stars, making it a top contender in mobile trading apps, ranking sixth out of 62 brokers according to ForexBrokers.com. Plus500 is not far behind with a 4.5-star rating, landing the 14th spot in the same category. Whether you prioritize a more extensive range of technical studies or seamless chart drawing features, both Charles Schwab and Plus500 offer highly competitive mobile apps to enhance your trading experience.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 110 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Charles Schwab and Plus500, both platforms provide daily market commentary, keeping traders informed with timely updates. However, Charles Schwab stands out by delivering forex news from reputable sources like Bloomberg, Reuters, and Dow Jones, while Plus500 lacks this feature. On the other hand, Plus500 offers unique tools such as Trading Central's Technical Analytics and a sentiment-based trading tool that reveals the ratio of long or short positions across various instruments, which Charles Schwab does not provide.
In terms of overall research strength, Charles Schwab receives high praise with a 5-star rating for its research capabilities, ranking 4th out of 62 brokers on ForexBrokers.com. Plus500, while offering useful sentiment tools and technical analytics, holds a slightly lower 4-star rating, ranking 19th in the same category. Both brokers provide economic calendars to help traders keep track of global news events, enhancing their trading strategies with valuable insights and data.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| 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.
Charles Schwab and Plus500 both provide a range of educational resources tailored for beginners interested in forex and CFDs. Both platforms offer more than ten educational pieces like articles, videos, and archived webinars focused on these subjects. They also host monthly online educational webinars, with access to a searchable archive of past sessions. Charles Schwab and Plus500 ensure a solid foundation for beginners by offering at least ten beginner-focused educational videos covering essential trading topics.
For those seeking more advanced knowledge, both Charles Schwab and Plus500 provide over ten detailed educational videos designed for experienced traders. However, Charles Schwab sets itself apart by offering an investor dictionary featuring definitions of fifty or more investing terms, a feature lacking in Plus500's offerings. Consequently, Charles Schwab earns a higher education rating of five stars compared to Plus500's four stars. Reflecting this, Charles Schwab holds the 6th rank among 62 brokers in the Education category on ForexBrokers.com, whereas Plus500 ranks at 31st.
| Feature |
Charles Schwab
|
Plus500
|
|---|---|---|
| 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 | 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 Plus500. Charles Schwab finished with an overall rank of #6, while Plus500 finished with an overall rank of #14.
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
|
Plus500
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both Charles Schwab and Plus500 allow investors to trade cryptocurrency derivatives rather than the actual cryptocurrency, as neither platform offers the option to purchase delivered cryptocurrency.
When comparing online brokers, Charles Schwab supports ACH and SEPA transfers along with bank wires for account funding, while Plus500 does not offer ACH or SEPA transfers but provides varied options like PayPal, Skrill, Visa, Mastercard, and also supports bank wire transfers for depositing or withdrawing funds.
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 | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Plus500 Review |
| Broker Screenshots | Charles Schwab | Plus500 | |
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| Regulation | Charles Schwab | Plus500 | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1971 | 2008 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 6 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Plus500 | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Plus500 | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Plus500 | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 5500 | |
| Forex Pairs (Total) | 73 | 65 | |
| 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | Charles Schwab | Plus500 | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.5 | |
| All-in Cost EUR/USD - Active | 1.35 | 1.5 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | No |
| Trading Platforms | Charles Schwab | Plus500 | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Plus500 | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 10 | |
| Charting - Indicators / Studies (Total) | 374 | 114 | |
| Charting - Drawing Tools (Total) | 24 | 22 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | 110 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Plus500 | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | Charles Schwab | Plus500 | |
|---|---|---|---|
| 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 | Plus500 Review |
| Overall | Charles Schwab | Plus500 | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Plus500 Review |
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