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.
Charles Schwab and Trade Nation both offer strong platforms for traders, including web-based systems and Windows desktop downloads, along with simulated trading options for practice. Each has developed proprietary platforms to cater to their users, but their features diverge significantly. While Schwab excels with 580 fields for watch lists and 24 drawing tools for charting, Trade Nation offers 39 drawing tools but only 14 fields for watch lists. Additionally, Schwab allows trades directly from stock charts, a function absent in Trade Nation's offerings.
Trade Nation, however, provides a slight edge for those interested in copy trading by supporting MetaTrader 4 and copy trading facilities, features not present with Charles Schwab. However, Schwab's platform earns a five-star rating compared to Trade Nation's four, showing its appeal among a broad audience. Overall, Schwab is ranked #5 in trading platforms and tools by ForexBrokers.com out of 62 brokers, while Trade Nation sits at #44, a testament to Schwab's more comprehensive trading experience despite both brokers having their unique advantages.
| 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 | 115 |
| 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 comparing Charles Schwab and Trade Nation for market research capabilities, both platforms shine by offering daily market commentary and forex news from respected sources like Bloomberg and Reuters. However, while neither broker includes tools from Autochartist or Trading Central, Trade Nation differentiates itself with a sentiment-based trading tool that gives users insight into long and short positions across currency pairs. On the other hand, Charles Schwab stands out with its accessible economic calendar, helping traders stay updated on global news events, a feature Trade Nation lacks.
Charles Schwab receives top marks with a 5-star rating and a notable 4th place ranking out of 62 brokers according to ForexBrokers.com, reflecting its strong research offerings. In contrast, Trade Nation is rated 3.5 stars and sits at the 42nd position, demonstrating room for improvement. Although Trade Nation benefits from research tools by Acuity Trading, Schwab’s diverse research features and high industry ranking make it a preferred choice for those prioritizing comprehensive market research resources.
| Feature |
Charles Schwab
|
Trade Nation
|
|---|---|---|
| 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 | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to online educational resources for beginners, both Charles Schwab and Trade Nation offer valuable materials to get you started. Both brokers provide a solid selection of over ten educational pieces focused on forex and CFDs, appealing to those interested in these trading areas. Each platform also offers at least ten beginner-oriented videos, perfect for new traders looking to learn the essentials. Schwab has a slight edge here, with regular monthly webinars and a searchable archive of past webinars, which Trade Nation does not offer. Additionally, both platforms feature investor dictionaries to help you get familiar with key investing terms.
For those seeking more depth, Charles Schwab and Trade Nation provide over ten advanced educational videos, catering to traders ready to dive into more complex topics. While both companies are reasonably proficient educators, Schwab consistently rates higher, earning a 5-star education rating compared to Trade Nation's 3.5 stars. Additionally, Charles Schwab is ranked #6 in education by ForexBrokers.com, while Trade Nation is positioned at #41. This makes Schwab a top choice for those prioritizing comprehensive educational support in their trading journey.
| 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 | 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 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 | 115 | |
| 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 | 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 | 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 | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| 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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