Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Tickmill, 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 in the online brokerage world as a publicly traded bank with a top-tier reputation. It holds a perfect Trust Score of 99 out of 99 from ForexBrokers.com, highlighting its reliability. Schwab possesses five Tier-1 licenses, making it a highly trusted choice for investors looking for security and peace of mind. This longstanding institution is recognized for combining a banking platform with brokerage services, offering a comprehensive financial experience.
In contrast, Tickmill, founded in 2014, is a newer player in the market. Though not publicly traded nor a bank, it still maintains a respectable ForexBrokers.com Trust Score of 86, falling into the trusted category. Tickmill holds two Tier-1 and two Tier-2 licenses, indicating a solid regulatory standing. While Tickmill offers a different business model compared to Charles Schwab, it provides trusted services that cater to those who prefer a more focused trading platform.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Charles Schwab is a competitive online broker that prioritizes accessibility with its lack of a minimum deposit requirement for its primary brokerage account types. Forex trading at Schwab is facilitated through the Schwab One and Schwab Global accounts, which offer access to the thinkorswim platform. Trades, including those in forex, are settled in U.S. dollars, with a minimum trade size of 10,000 units, translating to a $500 minimum margin requirement based on 20:1 leverage. While Schwab doesn't charge commissions for forex trading, costs come from the bid/ask spread, with an average spread of 1.35 pips for EUR/USD in October 2024, slightly above industry norms. Schwab's overnight carry charges can be conveniently estimated via a calculator on the thinkorswim platform. Schwab holds a commendable 4-star rating for commissions and fees but is positioned at #23 out of 62 brokers by ForexBrokers.com.
On the other hand, Tickmill shines with a 5-star rating and an impressive #4 ranking out of 62 brokers for commissions and fees. It provides two account options: Classic and Raw. The Classic account operates without commissions but carries higher average spreads of 1.76 pips. In contrast, the Raw account, which replaced the Pro account, charges $3 per side in commissions ($6 per standard lot), but it boasts lower typical spreads. For instance, the EUR/USD spread in October 2023 was 0.11 pips, with an all-in cost of 0.71 pips after the rise in commission. Tickmill's Raw account maintains its appeal with a low entry threshold of $100, offering favorable conditions for active traders and algorithmic trading enthusiasts despite the recent hike in trade commissions.
Both Charles Schwab and Tickmill offer distinct advantages that cater to various trading preferences. Schwab's strength lies in commission-free forex trading, while Tickmill's competitive spreads and cost-effectiveness after accounting for commissions make it a preferred choice for active traders. Each broker aligns with specific trading needs, guided by ease of entry and cost management nuances. Whether you're drawn to Schwab's comprehensive platform or Tickmill's budget-friendly structure, both brokers deliver substantial opportunities for forex traders.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.35 | 0.51 |
| All-in Cost EUR/USD - Active | 1.35 | 0.31 |
| 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.
Charles Schwab and Tickmill both provide forex trading options to their clients, making them viable choices for investors interested in currency trading. However, Charles Schwab shines with an extensive array of 40,000 tradeable symbols, surpassing Tickmill's offering of 725 symbols. When it comes to forex pairs, Charles Schwab offers 73, slightly more than Tickmill’s 63 pairs. Moreover, Charles Schwab facilitates investment in U.S. and international exchange-traded securities, including popular stocks like Apple and Vodafone, while Tickmill does not offer this feature, focusing primarily on CFDs and derivatives.
Although neither platform allows clients to purchase actual cryptocurrencies, both offer cryptocurrency derivatives for those interested in trading digital assets. A highlight for Tickmill is its copy trading capability, providing clients the option to mimic the trades of successful investors, a feature not available with Charles Schwab. The difference in range and depth of investment options is reflected in their ratings, with Charles Schwab receiving a 5-star rating and ranking 5th out of 62 brokers in the Range of Investments category, compared to Tickmill’s 3.5-star rating and a 42nd place ranking.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 725 |
| Forex Pairs (Total) | 73 | 63 |
| 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 Tickmill both offer a comprehensive suite of trading platforms and tools, but they cater to different types of traders. Charles Schwab provides a proprietary platform developed in-house, which is available as a Windows-based desktop download and a web-based platform. It excels with 24 drawing tools and an impressive ability to trade directly from stock charts. Schwab offers paper trading to help users familiarize themselves with the platform without the risk, and provides an extensive 580 columns for watch lists, giving traders a wide range of data. This comprehensive offering contributes to its 5-star rating and a high rank of #5 by ForexBrokers.com for trading platforms and tools.
On the other hand, Tickmill leans heavily into the popular MetaTrader software, offering both MetaTrader 4 and 5, which are widely recognizable for their user-friendly interfaces and flexibility. Unlike Schwab, Tickmill supports copy trading, a feature attractive to those looking to mirror the trades of successful investors. Although it doesn’t boast a proprietary platform, Tickmill offers paper trading for practice and a web-based trading platform, similarly to Schwab. It's ranked #32 by ForexBrokers.com, with its platform offering 15 drawing tools and the ability to trade from the chart. While its watch list options are limited to 7 columns, the overall platform garners a rating of 4 stars, making it a solid choice for traders who value MetaTrader and copy trading capabilities.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| 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.
When comparing Charles Schwab and Tickmill for mobile trading apps, both brokers provide apps for iPhone and Android users, ensuring accessibility on both major platforms. They both offer essential features like stock and forex price alerts, and the capability to draw trendlines and view multiple time frames on charts. However, Charles Schwab stands out with watchlist symbol syncing, allowing seamless updates between the mobile app and online account, a feature not available with Tickmill. Additionally, Charles Schwab offers a comprehensive selection of 374 technical studies for charting, significantly more than Tickmill’s 30.
Charles Schwab also outshines in app performance with a perfect 5-star rating for its mobile trading app, while Tickmill holds a respectable 4-star rating. According to ForexBrokers.com, Charles Schwab ranks as the 6th best out of 62 brokers for mobile trading apps, showing a strong reputation in this area. Tickmill, on the other hand, is ranked 31st, indicating room for improvement. Both brokers allow the creation of watchlists with real-time quotes, and their apps auto-save any chart drawings, adding to user convenience.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| 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.
Both Charles Schwab and Tickmill provide daily market commentary and access to forex news from renowned sources like Bloomberg and Reuters, ensuring informed trading decisions. While neither broker offers tools from Autochartist or Trading Central, Tickmill stands out by providing a sentiment-based trading tool and research tools from Acuity Trading, such as Signal Centre. This can be particularly useful for traders interested in understanding market sentiment and leveraging additional analytical insights.
Both brokers feature economic calendars for tracking global news events, essential for currency traders. Despite these similarities, Charles Schwab achieves a higher overall rating with five stars and a top-tier position of 4th out of 62 brokers in the research category, according to ForexBrokers.com. Meanwhile, Tickmill, although offering some unique tools, has a slightly lower research rating of four stars and ranks 21st, suggesting Schwab may provide a more comprehensive research offering overall.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| 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 it comes to educational resources for beginner traders, both Charles Schwab and Tickmill deliver a thorough selection of materials. For those looking to understand forex or CFDs, each platform provides more than ten educational pieces, which include articles, videos, and archived webinars. Furthermore, both brokers host regular monthly webinars aimed at clients, supplemented by extensive archives for on-demand learning. Beginner traders will find a robust library of at least ten tailored videos on each platform, introducing essential trading concepts in an accessible manner.
Beyond beginner resources, advanced traders can benefit from over ten specialized videos on both platforms. These cover complex strategies and help seasoned investors deepen their knowledge. Both Charles Schwab and Tickmill offer investor dictionaries, featuring definitions of at least fifty critical investing terms to help demystify trading language. Despite these similarities, Charles Schwab is rated higher in educational quality, scoring five stars compared to Tickmill's four. It is also ranked 6th out of 62 brokers by ForexBrokers.com in the Education category, while Tickmill holds the 15th spot. This suggests Schwab may offer a slight edge for those prioritizing educational support in their trading journey.
| Feature |
Charles Schwab
|
Tickmill
|
|---|---|---|
| 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 Tickmill. Charles Schwab finished with an overall rank of #6, while Tickmill finished with an overall rank of #22.
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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Tickmill
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 86 |
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Both Charles Schwab and Tickmill do not offer the option to purchase actual (delivered) cryptocurrency, but they provide the ability to trade cryptocurrency derivatives.
When comparing online brokers, Charles Schwab offers ACH, SEPA, and bank wire transfers for depositing and withdrawing funds, but lacks options like PayPal, Skrill, and card payments such as Visa or Mastercard, whereas Tickmill supports PayPal, Skrill, card payments, and bank wires but does not provide ACH or SEPA transfers.
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 | Tickmill | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Tickmill Review |
| Broker Screenshots | Charles Schwab | Tickmill | |
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| Regulation | Charles Schwab | Tickmill | |
|---|---|---|---|
| Trust Score | 99 | 86 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Tickmill | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 725 | |
| Forex Pairs (Total) | 73 | 63 | |
| 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 | Tickmill | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.51 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.31 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill | |
|---|---|---|---|
| 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 | Tickmill Review |
| Overall | Charles Schwab | Tickmill | |
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| Trust Score | 99 | 86 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Tickmill Review |
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