Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Trade Nation, 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 Trade Nation are two online brokers catering to different needs in the financial market. Established in 1971, Charles Schwab is a publicly traded company that also functions as a bank, offering a broad spectrum of financial services. In contrast, Trade Nation, founded in 2014, focuses solely on brokerage services and is not publicly traded. Charles Schwab is highly regarded in terms of trustworthiness, boasting a perfect ForexBrokers.com Trust Score of 99. This high level of trust is backed by its five Tier-1 licenses, which are deemed highly trusted by ForexBrokers.com.
While Trade Nation has a solid Trust Score of 85, it holds two Tier-1 licenses and one Tier-2 license. This positions Trade Nation as a reliable option in the industry, although it lacks the broad recognition and banking capabilities of Charles Schwab. When evaluating which broker suits your needs, consider these aspects along with their regulatory standing and services provided. Both brokers offer distinct advantages, making them suitable for different types of investors.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Year Founded | 1971 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing Charles Schwab and Trade Nation for commissions and fees, each brokerage offers unique advantages tailored to different trading preferences. Charles Schwab doesn't require a minimum deposit for its primary brokerage accounts, making forex trading accessible. Schwab features zero commissions on forex trades, with costs arising from bid/ask spreads. The average spread on the EUR/USD is 1.35 pips, which is high compared to industry standards. Schwab One grants access to international securities in U.S. dollars, while Schwab Global allows trading in twelve international markets in local currencies, albeit with variable currency conversion fees ranging from 0.2% to 1%. Schwab holds a solid rating of 4 stars and ranks 23rd out of 62 brokers on ForexBrokers.com for commissions and fees.
Trade Nation, on the other hand, excels with its competitive fixed-spread pricing. The broker offers a fixed rate of 0.6 pips for the EUR/USD pair, with brief spread widening during rollover periods. This results in an average spread closer to 1 pip. Trade Nation provides three account types, including a MetaTrader-based Raw Spread account that incurs a $3.50 commission per side. Its proprietary TN Trader platform offers the lowest overall spreads amidst its account choices. Fixed spreads make Trade Nation attractive for traders seeking price stability, earning it a 5-star rating and a 7th place ranking on ForexBrokers.com.
Overall, Charles Schwab and Trade Nation cater to different trader needs. Schwab appeals to those comfortable with higher spreads and U.S.-dollar-based trading, while Trade Nation attracts those who prefer consistent costs with its fixed spreads. Both have their merits, but Trade Nation leads in commission and fee ratings and rankings.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | 0.6 |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 |
| Active Trader or VIP Discounts | No | No |
| 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.
Charles Schwab and Trade Nation both offer forex trading as a CFD or spot contract, with Schwab providing 73 tradeable forex pairs compared to Trade Nation's 46. In terms of overall tradeable symbols, Charles Schwab stands out significantly with around 40,000 symbols available, including a wide array of exchange-traded securities from both U.S. and international markets. Conversely, Trade Nation offers a total of 1,000 tradeable symbols but lacks the ability to access direct exchange-traded securities from U.S. or international exchanges.
Neither platform allows clients to purchase actual cryptocurrency, but both offer derivatives for cryptocurrency trading. While Charles Schwab does not offer copy trading services, this feature is available at Trade Nation. Evaluating the overall range of investments, Charles Schwab holds a rating of 5 stars, compared to Trade Nation's 3.5 stars. According to ForexBrokers.com, Charles Schwab ranks #5 out of 62 brokers, showcasing a comprehensive investment portfolio, whereas Trade Nation is positioned at #38, reflecting a more limited range of options.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1000 |
| Forex Pairs (Total) | 73 | 46 |
| 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 comparing the trading platforms and tools of Charles Schwab and Trade Nation, both brokers offer strong services but cater to slightly different needs. Charles Schwab and Trade Nation both provide simulated paper trading accounts, enabling new traders to learn without financial risk. Each broker also boasts their own proprietary platform alongside a Windows-based desktop download and web-based trading, ensuring accessibility for users. While Trade Nation offers copy trading and the popular MetaTrader 4 platform, Charles Schwab does not. However, Schwab shines with the ability to trade directly from stock charts, a feature that Trade Nation lacks. Charles Schwab offers a staggering 580 columns for watch lists, giving traders unparalleled customization, compared to Trade Nation's 14 columns.
In terms of charting tools, both brokers cater to technical analysis enthusiasts; Schwab offers 24 drawing tools, while Trade Nation provides 39 options. Despite Trade Nation’s comparatively limited watch list customization, the broker offers additional trading capabilities that may appeal to forex traders, such as the availability of MetaTrader 4. When rated for their trading platforms and tools, Charles Schwab scores an impressive five out of five stars, significantly higher than Trade Nation’s four-star rating. According to ForexBrokers.com, Charles Schwab ranks fifth out of 62 brokers, illustrating their strong reputation in this category, while Trade Nation holds the 45th rank. Overall, traders inclined toward a highly customizable platform may lean toward Charles Schwab, whereas those seeking copy trading and a broader range of forex tools might find Trade Nation appealing.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 99 |
| Charting - Drawing Tools (Total) | 24 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Charles Schwab and Trade Nation offer mobile trading apps that are readily available for iPhone and Android users. These apps provide features like price alerts for stocks and forex, and the ability to sync watchlists with their respective online accounts, ensuring clients can maintain updated portfolios across platforms. Both apps also allow users to draw trendlines on charts and view different time frames, offering flexibility in technical analysis. Additionally, they auto-save chart drawings, supporting a seamless trading experience.
While both apps provide useful features, there is a noticeable difference in the number of technical studies offered for charting—Charles Schwab significantly outpaces Trade Nation with 374 studies compared to Trade Nation's 99. Furthermore, Schwab's mobile app enjoys a higher user satisfaction rating, earning a complete 5-star score, whereas Trade Nation receives 4 stars. Reflecting the comprehensive features and user ratings, Charles Schwab holds the sixth position out of 62 brokers in ForexBrokers.com's rankings for mobile trading apps, whereas Trade Nation sits at forty-fifth. These distinctions may guide potential users in choosing a platform that best aligns with their trading needs.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 99 |
| 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 deciding between Charles Schwab and Trade Nation for market research, there are several key differences to consider. Charles Schwab provides daily market commentary, offering investors timely insights into market movements. In comparison, Trade Nation does not offer daily commentary. Both brokers supply forex news from renowned sources such as Bloomberg and Reuters, ensuring access to high-quality information. However, when it comes to technical and fundamental research tools from providers like Autochartist and Trading Central, both Charles Schwab and Trade Nation fall short, as they do not include these resources in their offerings.
Moreover, Charles Schwab excels with a highly-rated economic calendar that keeps investors informed about important global events. Trade Nation, on the other hand, does not provide an economic calendar but stands out for offering a sentiment-based trading tool that gives insights into the ratio of long and short positions in the market. Though neither platform integrates research tools from Acuity Trading or TipRanks, the overall research capabilities see Charles Schwab rated at 5 stars, ranking 4th among 62 brokers for research, while Trade Nation scores 3.5 stars and ranks 42nd. This makes Charles Schwab a preferred choice for investors prioritizing comprehensive market research capabilities.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| 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 | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Charles Schwab offers a comprehensive suite that stands out compared to Trade Nation. Both brokers provide over 10 educational pieces focused on forex or CFDs, but Charles Schwab goes further with monthly online webinars, a searchable archive of past webinars, and a dictionary featuring over 50 investing terms. While both brokers offer more than 10 beginner videos, Charles Schwab also caters to advanced traders with specialized content, something Trade Nation does not provide.
In terms of overall education ratings, Charles Schwab surpasses Trade Nation with a solid five-star score and ranks sixth out of 62 brokers in the education category at ForexBrokers.com. In comparison, Trade Nation holds a 3.5-star rating and sits at the 42nd position. These differences highlight Charles Schwab's commitment to providing a wide range of valuable learning tools for both novice and seasoned investors.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| 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 | 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 Trade Nation. Charles Schwab finished with an overall rank of #6, while Trade Nation finished with an overall rank of #34.
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
|
Trade Nation
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 85 |
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Both Charles Schwab and Trade Nation do not offer the ability to purchase actual delivered cryptocurrency, but both provide options for trading cryptocurrency derivatives.
Charles Schwab supports bank wires and ACH or SEPA transfers for managing account funds, while Trade Nation allows bank wires and offers flexibility with Skrill, Visa, and Mastercard options, although neither supports PayPal transactions.
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 | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Trade Nation Review |
| Broker Screenshots | Charles Schwab | Trade Nation | |
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| Regulation | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1971 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1000 | |
| Forex Pairs (Total) | 73 | 46 | |
| 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.6 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| 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 | Trade Nation | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 14 | |
| Charting - Indicators / Studies (Total) | 374 | 99 | |
| Charting - Drawing Tools (Total) | 24 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | Charles Schwab | Trade Nation | |
|---|---|---|---|
| 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 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| 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 | No |
| Education | Charles Schwab | Trade Nation | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | Charles Schwab | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | Charles Schwab | Trade Nation | |
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| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Trade Nation Review |
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