Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs ThinkMarkets, 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, founded in 1971, stands as a highly trusted online broker with a Trust Score rating of 99 out of 99 according to ForexBrokers.com. As a publicly traded company and a bank, Charles Schwab holds five Tier-1 licenses, a testament to its strong regulatory framework. This combination of factors suggests a high level of security and reliability for investors seeking a stable trading environment.
In comparison, ThinkMarkets, established in 2010, is a reputable broker with a Trust Score of 92. Although it is not publicly traded or a bank, ThinkMarkets still maintains a robust presence in the market with five Tier-1 licenses and an additional two Tier-2 licenses, which are deemed trusted. For those navigating the online trading landscape, ThinkMarkets offers a secure platform backed by solid regulatory credentials.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| Year Founded | 1971 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 5 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing online brokers for their commissions and fees, Charles Schwab holds a noteworthy position. Schwab ensures accessibility with no minimum deposit required for its primary brokerage accounts. Among Schwab's offerings, the Schwab One and Schwab Global accounts are crucial for forex traders. With the Schwab One account, traders gain access to the thinkorswim platform, where trades, including forex, are settled in U.S. dollars. While Schwab does not charge commissions for forex, trading costs are reflected in the bid/ask spread, which averaged 1.35 pips for EUR/USD in October 2024. It also offers a margin trading requirement of $500 for a minimum trade size of 10,000 units, based on 20:1 leverage. Schwab provides handy calculators for estimating overnight carry charges within the thinkorswim platform. In terms of rankings, Schwab stands at #23 out of 62 brokers, boasting a 4-star rating for its commissions and fees.
In contrast, ThinkMarkets does not provide average spread data, making direct comparison a challenge. Despite this limitation, ThinkMarkets also garners a 4-star rating for its commissions and fees, indicating a similar level of competitiveness in this category. However, ThinkMarkets holds a lower rank at #48 out of 62 brokers, suggesting that while their fee structure is relatively favorable, there may be areas for improvement when compared to Schwab.
If you're navigating the world of online brokerage, understanding the fee structures and choosing a broker that aligns with your trading style is vital. Schwab's comprehensive access to different market types via its specialized accounts and its strategic offering in forex trading might tip the scales for some traders. In contrast, ThinkMarkets' solid rating for fees could appeal to traders who value different aspects of trading beyond forex spreads.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.35 | 1.1 |
| 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 comparing Charles Schwab and ThinkMarkets for their range of investments, both platforms offer forex trading through CFDs or spot contracts to suit diverse investor needs. Charles Schwab stands out with a staggering 40,000 tradeable symbols, including 73 forex pairs, offering wider market exposure. In contrast, ThinkMarkets provides 4,000 tradeable symbols and 46 forex pairs, catering to traders looking for a more focused selection. A key difference is that Charles Schwab allows you to buy U.S. exchange-traded securities, such as Apple shares, whereas ThinkMarkets does not, though both platforms offer access to international markets like the London Stock Exchange.
Additionally, Charles Schwab and ThinkMarkets allow trading in cryptocurrency derivatives but not in actual cryptocurrency. ThinkMarkets shines with its copy trading feature, a valuable tool for beginners looking to mimic successful strategies, while Charles Schwab does not offer this service. Overall, Charles Schwab receives a higher rating in the range of investments category, boasting 5 stars and ranking 5th out of 62 brokers, while ThinkMarkets follows with 4.5 stars and a 21st rank. Both brokerages present appealing options, but Charles Schwab takes the upper hand for those needing broader market access, whereas ThinkMarkets could attract those interested in social trading capabilities.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 4000 |
| Forex Pairs (Total) | 73 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 comparing the trading platforms and tools of Charles Schwab and ThinkMarkets, both brokers offer impressive features that cater to a wide variety of trading needs. Charles Schwab provides a proprietary platform with access via Windows-based desktop downloads and a web-based interface, alongside the ability to practice trading with a simulated account. ThinkMarkets matches these offerings but further extends its platform support with MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for traders who prefer these popular tools. While both platforms allow direct trading from stock charts, Charles Schwab stands out with 24 drawing tools and a substantial 580 columns for watchlists, significantly more than the 15 drawing tools and 15 columns offered by ThinkMarkets.
ThinkMarkets differentiates itself by providing copy trading capabilities, which Charles Schwab does not feature. Ratings reflect their differences: Charles Schwab receives a commendable five stars for its trading platforms and tools, placing it 5th among 62 brokers, whereas ThinkMarkets earns four stars, ranking 27th. Overall, Charles Schwab might be better suited for those looking for a comprehensive and highly rated in-house platform with extensive charting tools and watchlist features, while ThinkMarkets is ideal for traders interested in MT4, MT5, and copy trading options.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| 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 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 15 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps from Charles Schwab and ThinkMarkets, both platforms offer iPhone and Android apps that cater to traders on the go. They also provide price alerts for stocks and forex, allowing users to stay informed about market movements. However, a notable difference lies in watchlist syncing. Charles Schwab's app seamlessly syncs watchlists with a client's online account, while ThinkMarkets does not offer this feature.
In terms of charting capabilities, Charles Schwab stands out with 374 technical studies compared to ThinkMarkets' 94. Both apps allow users to draw trendlines and view multiple time frames on charts, with auto-save features for drawings ensuring no work is lost. When it comes to creating watchlists with real-time quotes, both apps measure up equally. Overall, Charles Schwab's mobile app holds a higher user satisfaction rating of 5 stars, while ThinkMarkets is close behind with 4 stars. In the ForexBrokers.com ranking for mobile trading apps, Charles Schwab is positioned at #6 out of 62 brokers, whereas ThinkMarkets is ranked at #20.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 94 |
| 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 it comes to market research, both Charles Schwab and ThinkMarkets offer daily market commentary and access to top-tier forex news from sources such as Bloomberg and Reuters. However, if you're looking for specific technical analysis tools like those from Autochartist or Trading Central, neither broker provides these options. Where ThinkMarkets starts to differentiate itself is with its sentiment-based trading tools that give insights into trading positions, a feature not available with Charles Schwab. Additionally, ThinkMarkets provides tools from Acuity Trading, though neither broker offers resources from TipRanks.
In terms of broader access to market information, both brokers supply an economic calendar for global events, helping investors stay informed about impending key developments. Despite these similarities, Charles Schwab takes the lead with a 5-star research rating, compared to ThinkMarkets' 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where Charles Schwab is placed at an impressive 4th out of 62 brokers, while ThinkMarkets stands at the 50th position.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Charles Schwab and ThinkMarkets in terms of educational resources for beginners, both platforms offer a comprehensive range of materials. Charles Schwab provides robust coverage in forex and CFDs education with more than ten articles, videos, and archived webinars. They also hold online educational client webinars regularly, with at least one per month, and maintain a searchable archive of past sessions. Charles Schwab caters to novice investors by offering at least ten beginner-focused educational videos and also supports advanced traders with more than ten videos tailored to experienced individuals. Additionally, they provide an investor dictionary featuring definitions for over 50 investing terms, earning them a commendable 5-star rating for education and ranking #6 out of 62 brokers on ForexBrokers.com.
ThinkMarkets similarly offers a variety of educational content tailored to forex and CFDs, including a minimum of ten educational pieces such as articles and videos. Like Charles Schwab, ThinkMarkets provides monthly educational webinars and a searchable archive of past sessions. Their video library includes at least ten beginner-focused trading topics and a comparable collection for advanced traders. An investor dictionary with over 50 terms is also available. However, in terms of overall educational quality and ranking, ThinkMarkets lags behind Charles Schwab with a 3.5-star satisfaction rating and a #52 rank among 62 brokers by ForexBrokers.com.
| Feature |
Charles Schwab
|
ThinkMarkets
|
|---|---|---|
| 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 | 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 ThinkMarkets. Charles Schwab finished with an overall rank of #6, while ThinkMarkets finished with an overall rank of #27.
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
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ThinkMarkets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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Both Charles Schwab and ThinkMarkets do not allow the purchase of actual delivered cryptocurrency, but they each provide options for trading cryptocurrency derivatives, offering potential opportunities for investors interested in this digital asset class.
Charles Schwab allows ACH, SEPA transfers, and bank wires for funding and withdrawals but does not support PayPal, Skrill, or Visa/Mastercard, whereas ThinkMarkets offers Skrill, Visa/Mastercard, and bank wires but lacks ACH or SEPA transfers and does not support PayPal.
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 | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | ThinkMarkets | |
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| Regulation | Charles Schwab | ThinkMarkets | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1971 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 5 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | ThinkMarkets | |
|---|---|---|---|
| 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 | No | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 4000 | |
| Forex Pairs (Total) | 73 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.1 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 15 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | 94 | |
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | ThinkMarkets | |
|---|---|---|---|
| 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 | Yes |
| Major Forex Pairs | Charles Schwab | ThinkMarkets | |
|---|---|---|---|
| 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 |
| Overall | Charles Schwab | ThinkMarkets | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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