Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Xtrade, 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, is a well-recognized online broker with a strong reputation for trustworthiness and reliability. As a publicly traded institution and a fully developed bank, Charles Schwab holds an outstanding Trust Score of 99 out of 99 according to ForexBrokers.com. This rating is supported by its possession of five highly trusted Tier-1 regulatory licenses, underscoring Charles Schwab's commitment to providing secure and credible trading services.
In contrast, Xtrade, founded in 2003, is a privately held company that does not operate as a bank. With a Trust Score of 74, Xtrade is considered by ForexBrokers.com to fall within an average risk category. The company holds one Tier-1 regulatory license and one Tier-2 license, which indicates a moderate level of regulatory oversight compared to Charles Schwab. While Xtrade offers certain levels of security and trust, potential clients may consider these differences when choosing the right broker for their needs.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Year Founded | 1971 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Charles Schwab and Xtrade for commissions and fees, Charles Schwab emerges as the more appealing option for forex traders. Schwab offers a seamless entry with no minimum deposit requirement for its brokerage accounts, making it accessible for beginners. It allows forex trading through its Schwab One account, where trades settle in U.S. dollars. While Schwab doesn't charge commissions on forex trades, costs are embedded in the bid/ask spread, which averages 1.35 pips on the EUR/USD pair. Additionally, Schwab presents a unique calculator through its thinkorswim platform to help estimate overnight costs. Extra convenience is available via the Schwab Global account for those trading in twelve foreign markets with currency conversion fees ranging from 0.2% to 1%.
Conversely, Xtrade offers less transparency in its fee structure, lacking average spread data. This makes it challenging for traders to estimate their trading costs accurately. Schwab's focus on providing a comprehensive view of trading expenses gives it a substantial edge over Xtrade in terms of clarity and predictability for forex traders.
In terms of industry ranking, Charles Schwab scores higher with a 4-star rating for commissions and fees, landing in the number 23 spot out of 62 brokers according to ForexBrokers.com. On the other hand, Xtrade is rated 2.5 stars and ranks last at number 62, reflecting its less competitive fee structure. This decisive comparison suggests Charles Schwab as a more favorable option for those aspiring to manage trading costs effectively.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| 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.
When it comes to the variety of investment options, Charles Schwab shines with an impressive offering of 40,000 tradeable symbols, including 73 forex pairs. Investors looking to trade exchange-traded securities on U.S. and international markets will find Schwab accommodating, with options to buy shares of companies like Apple and Vodafone. While Schwab does not offer copy trading or direct cryptocurrency purchase, it does provide cryptocurrency derivatives. With a high rating of 5 stars from ForexBrokers.com and a ranking of 5th out of 62 brokers for range of investments, Schwab clearly appeals to a broad array of investors seeking diverse opportunities.
In contrast, Xtrade provides a more focused selection with 482 tradeable symbols and 56 forex pairs. However, clients seeking direct access to exchange-traded securities on U.S. and international markets may find Xtrade lacking, as it does not offer this service. While Xtrade also refrains from copy trading and direct cryptocurrency purchases, it does provide access to cryptocurrency derivatives similar to Schwab. Although Xtrade receives a fair rating of 3.5 stars from ForexBrokers.com, its ranking of 49th out of 62 brokers for range of investments indicates a more limited choice compared to Charles Schwab. This makes Xtrade more suitable for traders who prefer a narrower but targeted array of offerings.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 482 |
| Forex Pairs (Total) | 73 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 Xtrade both offer a strong selection of trading platforms and tools. Charles Schwab provides a comprehensive experience with its proprietary platform, available as a downloadable application for Windows and a web-based browser option. Schwab scores high in user satisfaction with a perfect 5-star rating for its trading platforms, offering an impressive 580 fields for watch lists and 24 drawing tools for charting. Users can conveniently trade directly from stock charts and enjoy a simulated trading feature to practice strategies. Ranked #5 out of 62 brokers by ForexBrokers.com, Charles Schwab is favored for serious traders seeking extensive customization and support.
Meanwhile, Xtrade also offers a proprietary web-based platform, allowing users flexibility in accessing their accounts online. Rated 3.5 stars for its trading platforms and tools, Xtrade provides an extensive array of 100 drawing tools for charting, though it offers just 9 fields for watch lists, which may be limiting for some users. Like Schwab, Xtrade does not support copy trading or popular interfaces like MetaTrader. Despite offering a virtual trading option for practice, Xtrade's platform options earn it a #58 rank by ForexBrokers.com, making it a less prominent choice for those heavily invested in technical tailoring and tool variety. Xtrade suits traders who appreciate streamlined web access but may find their options more limited compared to Schwab's rich features.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | N/A |
| Charting - Drawing Tools (Total) | 24 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and Xtrade, both platforms provide iPhone and Android applications, but they differ significantly in functionality and user experiences. Charles Schwab stands out with its comprehensive features, offering stock and forex price alerts and syncing watchlist symbols across your devices. It also provides an impressive 374 technical studies for charting, alongside the capability to draw trendlines and view multiple time frames, such as daily or weekly intervals, on a single chart. Additionally, Schwab's app automatically saves chart drawings and lets users create watchlists with real-time quotes.
In contrast, Xtrade's app lacks several utilities that active traders might find essential. It does not offer stock or forex price alerts, syncing watchlists, the ability to draw trendlines, nor can it adjust charts to different time frames. It also lacks the ability to create watchlists with real-time quotes. While Xtrade is rated 4 out of 5 stars for its mobile app, Charles Schwab receives a perfect 5-star rating, showcasing its superior user satisfaction. These differences in ratings and functionalities are evident in their rankings by ForexBrokers.com, with Charles Schwab taking the #6 spot out of 62 brokers, while Xtrade is positioned at #53.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and Xtrade both provide daily market commentary and deliver forex news from distinguished sources like Bloomberg and Reuters. However, while both platforms supply an economic calendar to keep track of significant global news events, neither offers technical analysis tools from companies like Autochartist or Trading Central, nor do they feature sentiment-based trading tools or insights from TipRanks. Additionally, research tools from Acuity Trading are not available on either platform, leaving users with limited options for advanced technical or fundamental research.
In terms of overall research ratings, Charles Schwab stands out with an impressive 5-star rating, ranking 4th out of 62 brokers on ForexBrokers.com. On the other hand, Xtrade receives a 3.5-star rating, placing it far lower at the 52nd position. This ranking indicates that Charles Schwab offers significantly better research resources and insights, making it a more attractive choice for those who prioritize comprehensive market research capabilities in their online trading experience.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources offered by Charles Schwab and Xtrade for those new to trading, several differences become evident. Charles Schwab provides comprehensive educational support covering forex and CFDs, featuring a minimum of 10 educational pieces such as articles, videos, and webinars on these subjects. In addition, they host online educational webinars at least once a month and maintain a searchable archive of recorded webinars for clients to access. The platform also excels in delivering educational content tailored to beginner traders, with over 10 beginner-focused trading videos available. Charles Schwab further supports advanced traders with numerous videos tailored specifically for experienced audiences and offers a detailed investor dictionary covering more than 50 investing terms.
By contrast, Xtrade also meets the minimum requirement of providing at least 10 educational pieces focused on forex and CFDs. However, it does not offer regular client webinars or a searchable archive of past webinars. Additionally, Xtrade falls short in providing comprehensive educational resources for beginners and advanced traders, lacking the extensive video content found with Charles Schwab. While both platforms support users with an investor dictionary, Xtrade's overall educational ranking is lower, with 3.5 stars compared to Charles Schwab's full 5 stars. In the education category ranked by ForexBrokers.com, Charles Schwab excels in 6th place out of 62 brokers, whereas Xtrade stands at 46th, reflecting the broader range and depth of educational tools provided by Charles Schwab.
| Feature |
Charles Schwab
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 Xtrade. Charles Schwab finished with an overall rank of #6, while Xtrade finished with an overall rank of #59.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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Both Charles Schwab and Xtrade do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
When comparing online brokers, Charles Schwab supports ACH or SEPA transfers and bank wires for deposits and withdrawals, while Xtrade, lacking ACH or SEPA transfer support, provides Visa or Mastercard options, Skrill, and bank wires, although neither offers deposits or withdrawals via 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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Xtrade Review |
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| Regulation | Charles Schwab | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1971 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Xtrade | |
|---|---|---|---|
| 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 | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 482 | |
| Forex Pairs (Total) | 73 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 580 | 9 | |
| Charting - Indicators / Studies (Total) | 374 | N/A | |
| Charting - Drawing Tools (Total) | 24 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Charles Schwab | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | Charles Schwab | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Xtrade Review |
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