Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs RoboForex, 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 as a highly trusted financial figure in the online brokerage space. As a publicly traded company and a bank, it boasts the highest possible Trust Score of 99 according to ForexBrokers.com. This rating reflects its formidable security and reliability standards. Charles Schwab holds five Tier-1 licenses, which are considered the gold standard for trust and legality in the financial industry.
On the other hand, RoboForex, founded in 2009, is not publicly listed and does not operate as a bank. With a Trust Score of 73, it falls into the average risk category according to ForexBrokers.com. While RoboForex holds only one Tier-1 license, it maintains its standing as a viable platform for users who might prioritize different features over the assurance of a top-tier regulatory framework. These details help distinguish the two platforms, offering potential investors a clear picture of their options.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Charles Schwab and RoboForex are two online brokers that cater to forex traders, each with distinct offerings when it comes to commissions and fees. Charles Schwab stands out with no minimum deposit requirement for its primary forex trading accounts, making it accessible to new traders. Schwab offers two key account types for forex trading: Schwab One and Schwab Global. The Schwab One account allows forex trading through the thinkorswim platform, with trades settled in U.S. dollars. However, the smallest trade size is set at 10,000 units, requiring a minimum margin of $500. On the other hand, the Schwab Global account opens up trading in twelve international markets with applicable conversion fees, ranging from 0.2% to 1%, based on account balance size. Schwab does not charge commissions for forex trading, relying on the bid/ask spread instead, which averages around 1.35 pips for EUR/USD.
RoboForex, meanwhile, keeps its offering straightforward with its Procent and Pro accounts. The average spread for EUR/USD is 1.3 pips, aligned closely with Schwab's spread but lacking the broader platform and account options Schwab provides. This could make RoboForex a simpler choice for those who prefer focusing only on cost without the additional complexities of multiple account types and trading international securities.
When considering an overall evaluation of commissions and fees, Charles Schwab receives a rating of 4 stars, ranking 23rd out of 62 brokers according to ForexBrokers.com. In contrast, RoboForex is rated 3.5 stars, coming in at 54th place. The difference in rankings highlights Schwab's more competitive offering, despite slightly higher spreads, due to its comprehensive trading tools and varied account features.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 1.3 |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| 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 RoboForex, both brokers support forex trading through CFDs or spot contracts, but the range of available investment options differs significantly. Charles Schwab stands out with a much larger selection of 40,000 tradeable symbols, including 73 forex pairs, and offers access to exchange-traded securities both on U.S. and international exchanges. This means clients can directly invest in well-known companies like Apple and Vodafone. Meanwhile, RoboForex provides 8,400 tradeable symbols and 28 forex pairs but lacks the capability for direct investment in U.S. or international stocks. Nevertheless, RoboForex does offer copy trading, which could appeal to those interested in mirroring expert strategies.
In terms of cryptocurrency, both brokers allow for trading derivatives rather than actual cryptocurrencies. Charles Schwab achieves a top rating of 5 stars for its range of investments, placing it at an impressive 5th out of 62 brokers on ForexBrokers.com. While RoboForex is rated at 4.5 stars, it still holds a respectable position, ranking 20th. These rankings highlight Charles Schwab's extensive investment offerings and RoboForex’s attractive features such as copy trading. Whether choosing a comprehensive market access or specialized trading capabilities, both brokers present distinctive advantages for investors.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 8400 |
| Forex Pairs (Total) | 73 | 28 |
| 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.
When it comes to trading platforms and tools, Charles Schwab and RoboForex each offer unique strengths tailored to different trading needs. Charles Schwab provides a proprietary platform developed in-house, along with a Windows-based desktop and a web-based trading platform. Traders can experience the market without financial risk using Schwab's free virtual demo account. The platform is full of features, including the ability to trade directly from a stock chart and an extensive array of 580 fields for watch lists. With a top rating of 5 stars for its trading platforms and tools, Schwab ranks impressively at #5 out of 62 brokers, highlighting the comprehensive experience it offers its users.
RoboForex, on the other hand, shines in the realm of automated trading with the availability of popular third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), catering to more seasoned traders seeking advanced tools. Although it doesn’t provide a proprietary in-house platform, it does support a Windows-based desktop platform and a web-based option. Traders can engage with the market through a free virtual demo account and have access to copy trading features, making it appealing to those interested in mirroring experienced traders. While RoboForex includes 15 drawing tools and offers direct trading from stock charts, its watch list has only 7 fields of data. Holding a 4-star rating and ranked #43 by ForexBrokers.com, RoboForex appeals to a different niche, emphasizing automated strategies and customizable charting.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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.
Both Charles Schwab and RoboForex offer iPhone and Android apps for convenient mobile trading, accommodating users who prefer trading on-the-go. Both platforms enable users to receive stock or forex price alerts and create watchlists with real-time quotes. However, Charles Schwab sets itself apart with its watchlist symbol syncing feature, allowing seamless synchronization between mobile devices and the user's online account, a feature that RoboForex lacks. In terms of charting capabilities, Charles Schwab takes a lead with 374 technical studies compared to RoboForex's 30. Both platforms provide options to draw trendlines and view different timeframes on charts, and they both automatically save chart drawings.
Charles Schwab's mobile app garners a stellar rating of five out of five stars, reflecting a high level of user satisfaction. It's ranked sixth among 62 brokers for mobile trading apps by ForexBrokers.com, indicating a strong performance in the market. In contrast, RoboForex receives a solid four-star rating and ranks 43rd in the same list. Overall, Charles Schwab offers a more feature-rich and highly rated mobile trading experience compared to RoboForex.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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.
When comparing Charles Schwab and RoboForex for market research, both brokers offer valuable daily market commentary to help keep traders informed. They also provide forex news from reputable sources such as Bloomberg, Reuters, and Dow Jones. However, differences arise when exploring their specialized tools. RoboForex stands out by offering resources from Trading Central, known for its technical analytics, along with research tools from Acuity Trading. In contrast, Charles Schwab does not provide these specific features. Additionally, both brokers offer an economic calendar, giving traders insights into upcoming global news events, although Charles Schwab achieves a higher rating with five stars compared to RoboForex's 3.5 stars.
From the perspective of overall research ranking by ForexBrokers.com, Charles Schwab secures a commendable 4th place among 62 brokers, highlighting its strong position in comprehensive market research offerings. RoboForex, on the other hand, is positioned considerably lower at 37th, suggesting there is room for improvement. Despite RoboForex's innovative tools partnership with Trading Central and Acuity Trading, Charles Schwab's comprehensive mix of market commentary, strong industry-sourced news, and ease of access to critical trading information caters well to its high rating and ranking.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Charles Schwab stands out as an educational powerhouse for beginner traders, particularly when compared to RoboForex. Schwab offers an extensive variety of learning materials with over ten educational pieces focusing on forex and CFDs. New traders will find the online educational webinars to be especially helpful, and these are held monthly. Additionally, Schwab provides a searchable archive of past webinars, allowing users to revisit valuable content at any time. For those who prefer video content, there are over ten beginner-friendly videos available, covering essential trading topics. Seasoned traders are not left out either, as Schwab also offers more than ten advanced videos. An investor dictionary with definitions for over 50 investing terms rounds out Schwab's impressive educational resources. Rated 5 stars and ranked as the 6th best among 62 brokers by ForexBrokers.com for education, Charles Schwab clearly excels in empowering beginner traders with knowledge.
In contrast, RoboForex falls short in enriching the educational experience for newcomers. Unlike Charles Schwab, RoboForex does not provide a minimum of ten forex or CFDs educational pieces and lacks monthly webinars for clients. The absence of a searchable archive for its earlier webinars further limits the resources available to its users. Additionally, there are neither ten beginner educational videos nor advanced ones to guide traders of differing experience levels. RoboForex also does not offer an investor dictionary with a breadth of definitions like Schwab. With a rating of 3.5 stars in education and a 56th place ranking out of 62 brokers according to ForexBrokers.com, RoboForex's educational offerings leave much room for improvement when compared to the comprehensive resources available at Charles Schwab.
| Feature |
Charles Schwab
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 RoboForex. Charles Schwab finished with an overall rank of #6, while RoboForex finished with an overall rank of #46.
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
|
RoboForex
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 73 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Charles Schwab and RoboForex do not offer the ability to purchase actual (delivered) cryptocurrency, but they do provide options to buy cryptocurrency derivatives.
When comparing online brokers, Charles Schwab and RoboForex both support ACH and SEPA transfers as well as bank wires for deposits and withdrawals, but RoboForex stands out by additionally providing options for PayPal, Skrill, and Visa or Mastercard, none of which are available with Charles Schwab.
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 | RoboForex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | RoboForex Review |
| Broker Screenshots | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1971 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | RoboForex | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 8400 | |
| Forex Pairs (Total) | 73 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | Charles Schwab | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| 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 | RoboForex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | Charles Schwab | RoboForex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | RoboForex Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill