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Charles Schwab vs Spreadex 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Charles Schwab and Spreadex? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Charles Schwab ranks more highly than Spreadex.

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Compare

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Overall Rating Charles Schwab Spreadex
Overall Rating star 9.3 /10 star 7.2 /10
Offering of Investments star 9.5 /10 star 8.0 /10
Commissions & Fees star 8.0 /10 star 7.5 /10
Platform & Tools star 9.5 /10 star 7.0 /10
Research star 9.0 /10 star 7.5 /10
Mobile Trading star 9.5 /10 star 7.0 /10
Education star 9.0 /10 star 6.5 /10
Account Type Charles Schwab Spreadex
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info No Yes
Islamic Account info No No
Deposit/Withdrawal Options Charles Schwab Spreadex
Minimum Deposit info $0 $0
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No No
ACH or SEPA Transfers info Yes No
Copy Trading Charles Schwab Spreadex
Social Trading / Copy Trading info No No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Charles Schwab Spreadex
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info No Yes
Ethereum info No Yes
Forex Trading (Spot or CFDs) Charles Schwab Spreadex
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Charles Schwab Spreadex
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments Charles Schwab Spreadex
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info No No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info No Yes
ETF info Yes Yes
U.S. Stocks (CFD) info No Yes
Trading Platforms Charles Schwab Spreadex
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No No
MetaTrader 5 (MT5) info No No
Regulatory Licenses Charles Schwab Spreadex
Tier-1 Licenses info 5 1
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info No No info
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Research, Education Charles Schwab Spreadex
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes No
Trading Costs Charles Schwab Spreadex
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 1.25 info 0.81 info
All-in Cost EUR/USD - Active info 1.25 info N/A info
Active Trader or VIP Discounts info No No
Trading Tools Charles Schwab Spreadex
Watchlists - Total Fields info 580 8
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 374 55
Mobile Charting - Indicators / Studies info 374 N/A
Trust Factors Charles Schwab Spreadex
Year Founded info 1971 1999
Publicly Traded (Listed) info Yes No
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info No No info
Trust Score info 99 71
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Charles Schwab vs Spreadex Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between Charles Schwab and Spreadex? Our independent database powered by our unbiased research will help you compare Charles Schwab vs Spreadex side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust Charles Schwab?

Charles Schwab has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust Spreadex?

Spreadex has a Trust Score of 71, giving it a "Average Risk" Trust Score Label.

Is Charles Schwab a good broker?

Charles Schwab is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, Charles Schwab's forex offering consists of just over 70 currency pairs, along with powerful research, trading tools, and comprehensive educational resources for investing.

Is Spreadex a good broker?

Spreadex is best known for pioneering sports betting, but it also caters to financial trading through its FCA-regulated entity in the U.K. Spreadex offers its proprietary Spreadex Trading platform as well as a growing selection of markets; that said, fans of third-party platforms like MetaTrader and cTrader will be disappointed to find that Spreadex does not support any third-party platforms. Spreadex can't compete with the best forex brokers in certain key categories, such as education and research, and its lack of additional Tier-1 regulatory licenses weighs down its overall Trust Score rating.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. Charles Schwab holds regulatory licenses in the following Tier-1 jurisdictions: Canada (CIRO Authorised), Hong Kong (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). Spreadex, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: United Kingdom (U.K.) (FCA Authorised). Neither have Australia (ASIC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, unfortunately, neither Charles Schwab nor Spreadex are China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses unfortunately, neither Charles Schwab nor Spreadex are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that Charles Schwab offers a Proprietary Platform and Desktop Platform (Windows), whereas Spreadex supports a Proprietary Platform. Neither have cTrader, DupliTrade and ZuluTrade

Does Charles Schwab offer MetaTrader? Does Spreadex offer MetaTrader?

Neither Charles Schwab or Spreadex offer MT4 or MT5. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 4 (MT4) and MetaTrader 5 (MT5)

How do Charles Schwab and Spreadex differ in terms of minimum deposit? What about average spreads and funding options?

Charles Schwab requires a minimum deposit of $0, while Spreadex requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that Charles Schwab supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas Spreadex supports Bank Wire (Deposit/Withdraw) and Visa/Mastercard (Credit/Debit). Neither have PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, Charles Schwab or Spreadex?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that Charles Schwab delivers a more diverse selection of investment options than Spreadex, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies and ETF. Neither have Social Trading / Copy Trading.

We also keep track of each broker’s total number of tradeable symbols; Charles Schwab offers 40000, and Spreadex offers a total of 10000 tradeable symbols.

Can I trade cryptocurrency with Charles Schwab or Spreadex?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither Charles Schwab nor Spreadex allow you to trade physical cryptocurrencies.

Who offers more research tools, Charles Schwab or Spreadex?

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both Charles Schwab and Spreadex offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources).. Neither have Autochartist, Trading Central (Recognia) and Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

Charles Schwab Review

Spreadex Review

Overall winner: Spreadex

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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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