Compare Charles Schwab vs XM


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

Charles Schwab vs XM
overall rating
4.8
4.4
overall pros
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
  • Low CFD and withdrawal fees
  • Easy and fast account opening
  • Great educational tools
overall cons
  • High fees for some mutual funds
  • Product selection covers only the US market
  • Not well-structured educational platform
  • Only CFDs, forex, cryptos for Europeans
  • Average forex fees
  • Inactivity fee
fees
4.4
  • Low non-trading fees
  • Free stock and ETF trading
  • Some mutual funds and bonds are free
  • High fees for non-free mutual funds
3.8
  • Low CFD fees
  • No withdrawal fee
  • Inactivity fee
  • Average FX fees
account opening
4.5
  • Fast
  • Fully digital
  • No minimum deposit
  • For non-US clients $25,000 minimum deposit
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
deposit and withdrawal
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
5.0
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Free wire withdrawal above $200
web trading platform
4.2
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
  • Outdated design
mobile trading platform
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No Touch/Face ID login
  • No order confirmation
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • Outdated design
  • Search function could be improved
markets and products
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
2.9
  • Stock
  • Forex
  • CFD
  • Crypto
research
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
3.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 phone support
education
3.0
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Not well-structured
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • Negative balance protection
  • Regulated by the top-tier ASIC
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
recommended for Investors and traders looking for solid research, low fees and great customer service Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees
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