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Compare Charles Schwab vs FXCM


Online brokers compared for fees, trading platforms, safety and more. See how Charles Schwab stacks up against FXCM!

Charles Schwab vs FXCM
overall rating
4.6 / 5.0
4.3 / 5.0
overall pros
  • Outstanding research
  • Low fees
  • Great customer service
  • Low trading fees and financing rates
  • Good technical research tools
  • Fast and straightforward account opening
overall cons
  • No credit/debit cards and electronic wallets for money transfer
  • Only US markets covered
  • Not well-structured education
  • Limited product portfolio
  • Poor mobile platform
  • Poor desktop trading platform
fees
4 stars
  • Low trading fees
  • No inactivity fee
  • Some ETFs, bonds, and mutual funds are free
  • High financing rate
  • High fees for mutual funds
4 stars
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
  • Transparent fee structure
  • Inactivity fee
account opening
5 stars
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
  • For non-US clients $25,000 minimum
4 stars
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
  • Account opening takes several days
deposit and withdrawal
2 stars
  • No deposit fee
  • User-friendly
  • Credit/Debit card deposit and withdrawal not available
  • Only one account base currency
  • High fee for wire withdrawals
4 stars
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
  • Slow funding and withdrawal - over 3 days
  • Withdrawal fee for bank transfer can be high
web trading platform
4 stars
  • User-friendly
  • Clear fee report
  • Price alerts
  • No two-step (safe) login
  • Limited customizability (for charts, workspace)
3 stars
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
  • No two-step (safe) login
  • Setting alerts is complicated
mobile trading platform
4 stars
  • User-friendly
  • Looks nice
  • No two-step (safe) login
  • No price alerts
2 stars
  • Good variety of order types
  • Order confirmation
  • Not user-friendly
  • No two-step (safe) login
  • Poor search function
desktop trading platform
4 stars
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No two-step (safe) login
  • Only for Windows
3 stars
  • Good customizability (for charts, workspace)
  • Available in several languages
  • Not user-friendly
  • No two-step (safe) login
  • Setting alerts is not a piece of cake
markets and products
3 stars
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
1 stars
  • Forex
  • CFD
  • Crypto
research
5 stars
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stock and ETF
  • Hard to navigate
5 stars
  • Good interactive chart
  • Good set of analytical tools
  • No fundamental data available
customer service
4 stars
  • Live chat
  • Relevant answers
  • 24/7 availability
  • No email support
5 stars
  • Live chat
  • Fast response time
  • Available in local languages
  • No 24/7
education
3 stars
  • Trading platform tutorial videos
  • Educational videos
  • Good production quality
  • No demo account
  • Not well-structured
5 stars
  • Demo account
  • Educational videos
  • Easy to understand
  • Regulated by top tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • Regulated by top tier financial authority
  • Negative balance protection
  • £85,000 FSCS protection for European clients
recommended for Investors and traders looking for solid research, low fees, and great customer service Forex traders looking for easy account opening, funding, and withdrawal processes