Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Spreadex, 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 and Spreadex offer different levels of trust and regulatory oversight for online brokerage services. Established in 1971, Charles Schwab stands out with a perfect Trust Score of 99 from ForexBrokers.com, indicating it is highly trusted. As a publicly traded company and a bank, Charles Schwab holds five Tier-1 licenses, which are deemed highly reliable, further enhancing its credibility in the financial industry.
In contrast, Spreadex, founded in 1999, has a Trust Score of 71, placing it in the average risk category according to ForexBrokers.com. Unlike Charles Schwab, Spreadex is not publicly traded and does not operate as a bank. Spreadex holds one Tier-1 license, which offers some reassurance to potential clients but is significantly limited when compared to Charles Schwab's regulatory approvals. For investors seeking a well-established and highly trusted broker, Charles Schwab presents a more favorable option.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Year Founded | 1971 | 1999 |
| 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 | 0 |
When comparing Charles Schwab and Spreadex in terms of commissions and fees for forex trading, each broker presents distinct advantages. Charles Schwab offers no minimum deposit requirement for its brokerage accounts, making it accessible for new forex traders. Those using Schwab can trade without commissions, but the cost comes via the bid/ask spread, with an October 2024 average spread of 1.35 pips for EUR/USD. Schwab's services are particularly suited for individuals interested in trading both forex and international securities across multiple currencies, though conversion fees can apply. For commissions and fees, Charles Schwab receives a 4-star rating and ranks 23rd out of 62 brokers according to ForexBrokers.com.
On the other hand, Spreadex provides more competitive spreads on the EUR/USD currency pair, averaging 0.81 pips as recorded in January 2024, and reaching a minimum spread of 0.6 pips about 60% of the time. This lower spread can potentially offer traders more cost savings compared to Schwab. As with Charles Schwab, Spreadex also receives a 4-star rating for commissions and fees but ranks slightly lower at 30th place among 62 brokers, as noted by ForexBrokers.com.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | 0.81 |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and Spreadex both provide a wide array of investment opportunities, but their offerings differ in notable ways. Charles Schwab gives traders access to a massive selection of 40,000 tradable symbols, including 73 forex pairs, making it a standout choice for investors seeking diversity. Furthermore, Charles Schwab allows clients to trade exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, which Spreadex does not offer. Although both platforms provide the option to trade cryptocurrencies through derivatives, neither offers the purchase of actual cryptocurrencies.
On the other hand, Spreadex offers a selection of 10,000 tradable symbols and 52 forex pairs. The platform does not support the trading of exchange-traded securities from U.S. or international markets, focusing instead on contracts for difference (CFDs). Despite these limitations, Spreadex matches Charles Schwab by allowing clients to engage in forex trading via CFDs, and both are well-regarded in the industry with a range of investments rating of 5 stars. However, Charles Schwab holds a higher ranking at 5th place compared to Spreadex's 13th place in the Range of Investments category by ForexBrokers.com, reflecting its broader offerings.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 10000 |
| Forex Pairs (Total) | 73 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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.
When comparing the trading platforms and tools offered by Charles Schwab and Spreadex, key differences become evident. Charles Schwab provides a comprehensive suite of features, including a simulated trading option with its free virtual demo account, which Spreadex does not offer. Both brokers have developed their own proprietary platforms, but Schwab distinguishes itself with a Windows-based desktop platform, whereas Spreadex lacks this feature. Each broker supports web-based trading, facilitating user-friendly access across devices. Additionally, Schwab stands out with an impressive array of 580 watchlist columns to choose from, far surpassing the eight options available with Spreadex.
Regarding charting tools, Charles Schwab offers 24 drawing tools that enable traders to hone in on market trends, whereas Spreadex provides 11. Both brokers allow trades directly from the stock chart, enhancing the user experience. Neither Schwab nor Spreadex supports popular trading platforms like MetaTrader 4 or MetaTrader 5, or social trading services like DupliTrade and ZuluTrade. In expert evaluations, Schwab excels with a five-star rating for its trading platforms and tools, earning a commendable fifth place out of 62 brokers evaluated by ForexBrokers.com, while Spreadex received four stars and ranks 46th, highlighting Schwab's superior platform and tool set.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| 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 | 55 |
| Charting - Drawing Tools (Total) | 24 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and Spreadex, both offer iPhone and Android applications that cater to the active trader. Both apps provide users with stock and forex price alerts, support for drawing trendlines, and the ability to view multiple time frames on charts. However, Charles Schwab's app offers a seamless experience with watchlist symbol syncing between the mobile app and the user's online account, a feature lacking in Spreadex's app. Additionally, Charles Schwab leads in offering 374 technical studies for charting, enhancing the analytics capabilities far beyond what Spreadex provides. Furthermore, Charles Schwab's app auto-saves chart drawings, offering users convenience not available in Spreadex's app.
In terms of user satisfaction and rankings, Charles Schwab shines brighter with a 5-star rating for its mobile trading app, securing the 6th position out of 62 brokers according to ForexBrokers.com. Spreadex, while still commendable, receives a 4-star rating and ranks 49th in the same review. Both apps allow users to create watchlists with real-time quotes, but Charles Schwab's more comprehensive functionalities and higher customer ratings make it a preferred choice for mobile trading enthusiasts seeking a feature-rich and integrated trading experience.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | N/A |
| 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 Charles Schwab and Spreadex for market research offerings, both platforms provide daily market commentary and access to high-quality forex news from sources like Bloomberg, Reuters, and Dow Jones. Despite this similarity, they differ in the availability of sentiment-based trading tools; Charles Schwab does not offer these, while Spreadex provides a tool that displays the ratio of long or short positions across currency pairs. Both brokers offer economic calendars to keep traders informed on global events, but neither provides research tools from Autochartist, Trading Central, or Acuity Trading, nor do they include market insights from TipRanks.
In terms of overall research quality, Charles Schwab stands out with a 5-star rating, ranking #4 out of 62 brokers according to ForexBrokers.com. In contrast, Spreadex has a slightly lower research rating of 4 stars and is ranked #31. This suggests that while both brokers cover essential market commentary and news, Charles Schwab may offer a more comprehensive research experience, giving it an edge for those seeking well-rounded market insights.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| 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 the educational resources available for beginners between Charles Schwab and Spreadex, several key differences emerge. Charles Schwab offers comprehensive educational support, featuring a rich selection of more than 10 educational pieces dedicated to forex and CFDs, alongside regular online webinars held monthly. These webinars are not only live but also archived, providing users easy access to a wealth of knowledge anytime. Schwab stands out by offering over 10 beginner trading videos, complemented by an array of advanced video tutorials catering to more seasoned traders. Additionally, their investor dictionary is expansive, with definitions of over 50 investing terms, serving as an invaluable tool for newcomers to familiarize themselves with essential jargon.
In contrast, Spreadex also provides over 10 educational materials focused on forex and CFDs and supplies a collection of beginner-centric trading videos. However, it falls short in offering monthly webinars and a recorded archive, which may limit continuous learning opportunities for users. While it does offer a robust investor dictionary similar to Schwab's, Spreadex lacks advanced educational videos aimed at experienced traders, potentially constraining your learning path as you become more confident in trading. These differences in educational offerings contribute to Charles Schwab's higher rating of 5 stars compared to Spreadex's 4 stars in educational resources. Consequently, Schwab secures a top-ranking position at #6 in the Education category among 62 brokers, while Spreadex is placed at #45, affirming Schwab’s more comprehensive resources for beginners.
| Feature |
Charles Schwab
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Charles Schwab is better than Spreadex. Charles Schwab finished with an overall rank of #6, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both Charles Schwab and Spreadex do not provide the capability to purchase actual delivered cryptocurrency but do offer options for buying cryptocurrency derivatives.
In a comparison of online brokers, Charles Schwab provides ACH and SEPA transfers along with bank wires as options for depositing or withdrawing funds, whereas Spreadex supports Visa/Mastercard and bank wires, but neither platform offers PayPal or Skrill services.
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 | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Spreadex Review |
| Broker Screenshots | Charles Schwab | Spreadex | |
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| Regulation | Charles Schwab | Spreadex | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1971 | 1999 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 10000 | |
| Forex Pairs (Total) | 73 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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 | Charles Schwab | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.81 | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 8 | |
| Charting - Indicators / Studies (Total) | 374 | 55 | |
| Charting - Drawing Tools (Total) | 24 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| 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 | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | Charles Schwab | Spreadex | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Spreadex Review |
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