Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Vantage, 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 Vantage are two notable online brokers with distinct backgrounds and trust factors. Founded in 1971, Charles Schwab is well-established and publicly traded, operating as both a brokerage and a bank. It holds the highest Trust Score rating of 99 from ForexBrokers.com and boasts five Tier-1 licenses, indicating a high level of regulatory trust. Meanwhile, Vantage, founded in 2009, is not publicly traded and does not operate as a bank. It has a Trust Score of 90, reflecting a strong reputation, and is regulated with two Tier-1 licenses. Additionally, Vantage holds one Tier-2 license, showcasing its commitment to maintaining regulatory standards.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Year Founded | 1971 | 2009 |
| 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 |
Charles Schwab offers forex traders a low entry threshold with no minimum deposit requirement for its primary brokerage accounts, Schwab One and Schwab Global. Through these accounts, traders can access the thinkorswim platform and engage in forex trading, although trades settle solely in U.S. dollars, and the smallest trade size permitted is 10,000 units. Schwab Global caters to investors interested in trading in twelve international markets with local currencies, though it charges conversion fees ranging from 0.2% to 1% based on account balance size. Schwab does not impose commissions for forex trading; instead, costs derive from the bid/ask spread, which averaged 1.35 pips for EUR/USD in October 2024. With a 4-star rating for commissions and fees, Charles Schwab ranks 23rd out of 62 brokers according to ForexBrokers.com.
Vantage provides three account options: the spread-only Standard STP account, and the commission-based RAW ECN and PRO ECN accounts. The Standard account had typical spreads of 1.30 pips on the EUR/USD in March 2023, while the RAW account offered average spreads of 0.15 pips with a $3 commission per side, totaling 0.75 pips. The PRO ECN account presents competitive pricing with a $2 per-side commission and varies in requirements depending on the regulating entity. While the PRO account demands a minimum deposit of $10,000 if opened under Vantage's Cayman Islands entity, it offers the best pricing among Vantage's options. Furthermore, Vantage's active trader program provides rebates up to $8 per standard lot based on balance and monthly volume. Vantage holds a 4.5-star rating and ranks 18th out of 62 brokers in the Commissions and Fees category, as noted by ForexBrokers.com.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.35 | 1.30 |
| All-in Cost EUR/USD - Active | 1.35 | 0.75 |
| 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.
When it comes to the variety of investment options, Charles Schwab and Vantage offer some different strengths. Charles Schwab boasts a vast selection, providing access to 40,000 tradeable symbols, including 73 forex pairs. Investors can also trade exchange-traded securities on both U.S. and international exchanges, making it possible to buy shares of companies like Apple and Vodafone. Schwab also offers the opportunity to trade cryptocurrency derivatives, adding more diversity to one's portfolio, but it doesn’t provide actual cryptocurrency purchases or copy trading services.
On the other hand, Vantage offers a smaller set of 1,000 tradeable symbols, with 57 forex pairs available. While it does provide access to cryptocurrency derivatives, it does not offer exchange-traded securities on U.S. or international exchanges, limiting access to stocks like Apple and Vodafone. However, Vantage caters to those interested in copy trading, a feature Schwab lacks. In terms of ratings, Charles Schwab earns 5 stars for its range of investments, ranking 5th out of 62 brokers on ForexBrokers.com, whereas Vantage garners a 3.5-star rating, placing it at 50th.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1000 |
| Forex Pairs (Total) | 73 | 57 |
| 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 Vantage both offer a range of trading platforms and tools designed to enhance the trading experience for their users. Both brokers provide a free virtual demo account for simulated trading, which is great for practicing before using real money. Additionally, Charles Schwab and Vantage feature proprietary platforms developed in-house and have Windows-based desktop and web-based trading platforms available. However, Vantage standouts with options like MetaTrader 4 and 5, along with DupliTrade and ZuluTrade for copy trading, which are not available through Charles Schwab.
When it comes to technical features, Charles Schwab boasts a wider variety of 24 drawing tools compared to Vantage's 15. Although both platforms allow direct trading from stock charts, Charles Schwab provides a hefty selection of 580 columns for watch lists, whereas Vantage offers just seven. In terms of ratings, Charles Schwab secures a perfect five-star rating for trading platforms and tools, ranking 5th out of 62 brokers on ForexBrokers.com, reflecting its superior standing and advanced offerings. On the other hand, Vantage receives a four-star rating, placing it in the 15th position, which still signifies a competitive and robust platform offering.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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 | Yes |
| ZuluTrade | No | Yes |
| 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.
Charles Schwab and Vantage both offer mobile trading apps compatible with iPhone and Android devices, making it convenient for users to trade on the go. Both apps provide stock or forex price alerts and allow users to view different time frames, such as daily, weekly, or intraday, for stock or forex charts. When it comes to creating watchlists with real-time quotes, both platforms are equipped to serve that need. However, Charles Schwab truly outshines in a few areas that can be pivotal for traders who rely heavily on mobile functionality.
One standout feature of Charles Schwab's app is watchlist symbol syncing, which allows seamless integration between the mobile app and the online account; Vantage lacks this feature. For technical analysis enthusiasts, Charles Schwab offers 374 technical studies compared to Vantage's 30, providing a more detailed and comprehensive charting experience. Both apps allow trendline drawing and auto-save drawings on charts, but Charles Schwab's richer technical offerings might appeal more to advanced users. Rated five stars for mobile trading apps and ranked #6 out of 62 brokers by ForexBrokers.com, Charles Schwab leads in performance. Meanwhile, Vantage holds a respectable four-star rating and is ranked at #26, making it a solid choice for traders valuing simplicity and ease of use.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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.
For investors seeking reliable market research, both Charles Schwab and Vantage offer a range of services that are appealing. Both platforms provide daily market commentary and share forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. This ensures that traders using either brokerage are well-informed about market movements. However, diverging in their offerings, Vantage steps ahead by including a sentiment-based trading tool and technical analysis from Trading Central, which might attract traders seeking more in-depth analysis tools. Although Charles Schwab does not offer tools from these providers, it makes up for it with a comprehensive economic calendar showcasing upcoming global news events.
Despite the similarities in daily commentary and economic calendars, Charles Schwab and Vantage differ in research ratings and rankings within the industry. Charles Schwab boasts a five-star rating and ranks fourth out of 62 brokers for research, making it a leading choice for market insights. In contrast, Vantage holds a respectable four-star rating, ranking 24th, which may still suffice for those who prioritize the sentiment-based analysis and Technical Central tools it provides. These distinctions help traders select a brokerage that aligns best with their market analysis needs and personal trading strategy.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | Yes |
| 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 it comes to educational resources for beginner traders, both Charles Schwab and Vantage provide comprehensive offerings in forex and CFD topics. They each boast a collection of over 10 educational pieces, which encompass a mixture of articles, videos, and archived webinars primarily focused on forex and CFDs. Additionally, both platforms ensure ongoing learning through regular monthly webinars and maintain searchable archives of these recorded sessions for convenient access.
In terms of video content for beginners and advanced traders alike, both Charles Schwab and Vantage offer more than 10 instructional videos tailored to each level. Furthermore, they each provide an investor dictionary with definitions for at least 50 investing terms to help traders familiarize themselves with essential jargon. Evaluating their educational ratings, Charles Schwab emerges with a 5-star rating, placing it as the sixth-best among 62 brokers according to ForexBrokers.com, while Vantage achieves a 4-star rating, securing the 27th spot in the same category.
| Feature |
Charles Schwab
|
Vantage
|
|---|---|---|
| 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 Vantage. Charles Schwab finished with an overall rank of #6, while Vantage finished with an overall rank of #26.
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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Vantage
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 90 |
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Both Charles Schwab and Vantage do not offer the option to purchase actual (delivered) cryptocurrency, but they do provide opportunities to invest in cryptocurrency derivatives.
When comparing online brokers, Charles Schwab and Vantage, it's important to note that Charles Schwab supports ACH and SEPA transfers, as well as bank wires, for account transactions but does not accommodate PayPal, Skrill, or Visa/Mastercard, whereas Vantage provides flexibility with PayPal, Skrill, Visa, and Mastercard options, alongside bank wires, yet lacks support for ACH and 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 | Vantage | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Vantage Review |
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| Regulation | Charles Schwab | Vantage | |
|---|---|---|---|
| Trust Score | 99 | 90 | |
| Year Founded | 1971 | 2009 | |
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1000 | |
| Forex Pairs (Total) | 73 | 57 | |
| 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 | Vantage | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.30 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.75 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Vantage | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| 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 | Vantage | |
|---|---|---|---|
| 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 | Yes | |
| ZuluTrade | No | Yes |
| Trading Tools | Charles Schwab | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Vantage | |
|---|---|---|---|
| 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 | Vantage | |
|---|---|---|---|
| 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 | Vantage Review |
| Overall | Charles Schwab | Vantage | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Vantage Review |
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