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Charles Schwab vs Swissquote 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between Charles Schwab and Swissquote? 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 Swissquote.

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Compare

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Overall Rating Charles Schwab Swissquote
Overall Rating star 9.3 /10 star 8.8 /10
Offering of Investments star 9.5 /10 star 10 /10
Commissions & Fees star 8.0 /10 star 7.0 /10
Platform & Tools star 9.5 /10 star 9.0 /10
Research star 9.0 /10 star 8.5 /10
Mobile Trading star 9.5 /10 star 8.5 /10
Education star 9.0 /10 star 7.5 /10
Account Type Charles Schwab Swissquote
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 Yes
Deposit/Withdrawal Options Charles Schwab Swissquote
Minimum Deposit info $0 $1000
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No Yes
ACH or SEPA Transfers info Yes Yes
Copy Trading Charles Schwab Swissquote
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Charles Schwab Swissquote
Cryptocurrency (Physical) info No Yes
Cryptocurrency (Derivative) info Yes No
Bitcoin info No Yes
Ethereum info No Yes
Forex Trading (Spot or CFDs) Charles Schwab Swissquote
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Charles Schwab Swissquote
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 Swissquote
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No No
Social Trading / Copy Trading info No Yes
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 Swissquote
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses Charles Schwab Swissquote
Tier-1 Licenses info 5 5
Australia (ASIC Authorised) info No No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info Yes Yes
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes Yes
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 Yes info
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Research, Education Charles Schwab Swissquote
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Charles Schwab Swissquote
Minimum Deposit info $0 $1000
Average Spread EUR/USD - Standard info 1.25 info N/A info
All-in Cost EUR/USD - Active info 1.25 info N/A info
Active Trader or VIP Discounts info No Yes
Trading Tools Charles Schwab Swissquote
Watchlists - Total Fields info 580 11
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 374 86
Mobile Charting - Indicators / Studies info 374 30
Trust Factors Charles Schwab Swissquote
Year Founded info 1971 1996
Publicly Traded (Listed) info Yes Yes
Bank info Yes Yes
Regulated in one or more EU or EEA countries (MiFID). info No Yes info
Trust Score info 99 99
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Charles Schwab vs Swissquote 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 Swissquote? Our independent database powered by our unbiased research will help you compare Charles Schwab vs Swissquote 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 Swissquote?

Swissquote has a Trust Score of 99, giving it a "Highly Trusted" 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 Swissquote a good broker?

Traders at Swissquote gain access to a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader (both MT4 and MT5) and TradingView. Swissquote also delivers access to a staggering 3 million financial products, including stocks, options, futures, derivatives, ETFs, and structured products (though only a few hundred CFDs). With multiple Tier-1 regulatory licenses and a Trust Score rating of 99 (as well as the rare distinction of operating three banks), we consider Swissquote to be a highly trusted broker. It's worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers, and its forex account offers far fewer markets than Swissquote's eTrading account for share dealing.

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). Swissquote, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Hong Kong (SFC Authorised), Singapore (MAS Authorised) and 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, Charles Schwab is none, while Swissquote is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Charles Schwab nor Swissquote 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 both Charles Schwab and Swissquote offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does Charles Schwab offer MetaTrader? Does Swissquote offer MetaTrader?

For MetaTrader Charles Schwab provides neither of these, while Swissquote provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

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

Charles Schwab requires a minimum deposit of $0, while Swissquote requires a minimum deposit of $1000. 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 Swissquote supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw)

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

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 Swissquote, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies and ETF. Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; Charles Schwab offers 40000, and Swissquote offers a total of 472 tradeable symbols.

Can I trade cryptocurrency with Charles Schwab or Swissquote?

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 Charles Schwab offers clients access to trading physical cryptocurrencies while Swissquote does not.

Who offers more research tools, Charles Schwab or Swissquote?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. Charles Schwab delivers the following research tools: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). Swissquote, on the other hand, provides the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

Charles Schwab Review

Swissquote Review

Overall winner: Swissquote

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announcementPlease 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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