Compare Charles Schwab vs Oanda


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

Charles Schwab vs Oanda
overall rating
4.9
4.6
overall pros
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
  • Generally low fees
  • Easy-to-use web trading platform
  • Easy and digital account opening
overall cons
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Poorly-structured educational platform
  • Only FX and some CFDs
  • Poor customer service
  • High bank withdrawal fee
fees
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
4.5
  • Low trading fees
  • Low forex fees
  • No withdrawal fee
  • No withdrawal fee in most cases
  • High withdrawal fee for bank transfers
account opening
4.5
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Issues with ID verification can slow account opening
deposit and withdrawal
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
4.2
  • Credit/Debit card available
  • No deposit fee
  • Withdrawal is free for PayPal and for the first debit card transaction each month
  • High withdrawal fee for bank transfers
web trading platform
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
3.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No price alerts
markets and products
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
1.5
  • Forex
  • CFD
research
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
4.8
  • Good interactive chart
  • Quality news flow
  • User-friendly
  • Great API
  • Research tools are poorly organized
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
3.4
  • Phone support
  • Live chat
  • No 24/7 support
  • Speed could be improved
education
3.0
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Not well-structured
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Investors and traders looking for solid research, low fees and great customer service Forex traders who value a user-friendly platform and great research tools
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