Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs Fineco, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Charles Schwab and Fineco are both well-regarded online brokers that provide robust financial services. Founded in 1971 and publicly traded, Charles Schwab also operates as a bank and is recognized for its strong regulatory standing. It holds an impressive five Tier-1 licenses, making it highly trusted with a ForexBrokers.com Trust Score of 99 out of 99. The extensive regulatory oversight ensures that clients can have confidence in the security and reliability offered by Charles Schwab.
Fineco, founded in 1999, is also a publicly traded bank providing brokerage services. It has two Tier-1 licenses, along with a ForexBrokers.com Trust Score of 94, signifying a high level of trust and dedication to regulatory compliance. While it holds fewer Tier-1 licenses than Charles Schwab, its strong trust score and public listing highlight its solid reputation in the industry. Both brokers offer secure trading platforms, but Charles Schwab stands out with its maximum trust score and higher number of top-tier licenses.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Year Founded | 1971 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | Yes |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Charles Schwab provides a competitive edge for forex traders with its no minimum deposit requirement for primary brokerage accounts, making it easier to start trading. Schwab offers an array of 18 different financial account types, though the Schwab One and Schwab Global accounts are particularly favorable for forex trading via the thinkorswim platform. With Schwab One, all trades, including forex, are settled in U.S. dollars and allow a minimum trade size of 10,000 units with a $500 required margin on a 20:1 leverage. The Schwab Global account allows access to twelve international markets in their local currencies, though conversion fees ranging from 0.2% to 1% may apply if funding with a different currency. Schwab charges no commissions for forex trading, but trading costs are covered by the bid/ask spread, averaging about 1.35 pips for EUR/USD trades in October 2024, higher than the industry norm. Schwab holds a 4-star rating for commissions and fees and ranks #23 out of 63 brokers as reviewed by ForexBrokers.com.
Fineco, on the other hand, does not make its average spread data for forex and CFD trading available, which can obscure the true trading costs for potential users. Although Fineco lists a spread of 1 pip for the EUR/USD, it neither confirms this as an average spread nor provides a relevant date range. The broker also lists a 0.8 pip spread, typically lower for its index CFDs, yet again without average value confirmation. For those seeking transparency in trading costs, this might be a downside to consider. In terms of ratings, Fineco has a 3.5-star rating for its commissions and fees, landing at #51 out of 63 brokers according to ForexBrokers.com.
When comparing Charles Schwab and Fineco based on commissions and fees, Schwab holds a slight advantage in transparency and lower cost through its bid/ask spread policy and readily available trading tools like its overnight carry cost calculator. Fineco's lack of detailed spread data might be a hindrance for traders who prioritize clarity and predictability in trading expenses. Ultimately, Schwab's higher star rating and better rank reflect its user-friendly approach to trading costs.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
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When comparing the range of investments available at Charles Schwab and Fineco, both brokers offer a variety of trading opportunities. Charles Schwab shines with a large inventory, boasting 40,000 tradeable symbols and an impressive 73 forex pairs, giving traders a significant breadth of options. Fineco, on the other hand, provides 9,770 tradeable symbols and 54 forex pairs, which is less in comparison but still substantial. Both platforms support forex trading via CFDs or spot contracts and allow the purchase of exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, respectively. Neither broker offers copy trading, and while Schwab provides options to trade cryptocurrency derivatives, both brokers do not support the purchase of actual cryptocurrencies.
For those focused on the range of options, Charles Schwab edges ahead with a 5-star rating and ranks fifth among 63 brokers in the Range of Investments category according to ForexBrokers.com. Fineco also presents a strong offering with a commendable 4.5-star rating, placing it sixteenth in the same category. While Schwab offers a more extensive collection, both platforms deliver robust resources for diverse investment strategies, providing traders with ample opportunities to explore global markets. Ultimately, the choice between these brokers may hinge on individual trading needs and preference for either a broader or a more focused selection of investment symbols.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 9770 |
| Forex Pairs (Total) | 73 | 54 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
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When comparing Charles Schwab and Fineco for their trading platforms and tools, each offers unique strengths that cater to different trading needs. Both brokers provide proprietary platforms, accessible via desktop downloads on Windows and web browsers. However, Charles Schwab stands out by offering a free virtual demo account for simulated trading, which Fineco does not provide. This feature allows new traders to practice without risking real money. While neither broker supports MetaTrader 4 or 5, or features like copy trading and social trading platforms, both cover the essential functionalities for regular trading activities.
Charles Schwab excels in tools and customization, boasting 24 drawing tools for charting, compared to Fineco's 7. Schwab also allows for trading directly from stock charts and offers extensive customization of watch lists with up to 580 fields. This depth in features is reflected in their ratings, with Charles Schwab earning 5 stars for trading platforms and tools, ranked #5 out of 63 brokers by ForexBrokers.com. Fineco, on the other hand, is rated 4 stars, placed at #18. These differences indicate Schwab’s comprehensive platform is highly suitable for traders seeking versatility and depth, whereas Fineco offers a solid but less feature-rich experience.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 37 |
| Charting - Drawing Tools (Total) | 24 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 580 | N/A |
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Charles Schwab and Fineco both provide mobile trading applications available for iPhone and Android devices, ensuring their clients can trade on the go. Both brokers offer stock or forex price alerts, but there's a noticeable distinction when it comes to managing watchlists. Charles Schwab allows for seamless symbol syncing between its mobile app and online account, letting users keep consistent watchlists wherever they operate. Fineco, however, does not support this feature, which might be a downside for traders who frequently switch between platforms.
When exploring charting capabilities, Charles Schwab stands out with 374 technical studies, compared to Fineco's 6—providing more in-depth analysis options for technical traders. Additionally, Charles Schwab's app allows users to draw and auto-save trendlines on charts, while Fineco lacks these tools. Both apps support viewing charts in multiple time frames. However, only Charles Schwab offers the creation of watchlists with real-time quotes. These differences in features contribute to Charles Schwab's higher rating of 5 stars and a #6 ranking among mobile trading apps, as opposed to Fineco's 4 stars and #42 ranking, according to ForexBrokers.com.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
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When comparing Charles Schwab and Fineco for market research tools and resources, Charles Schwab stands out with its provision of daily market commentary, which Fineco lacks. Both platforms deliver forex news from top-tier sources like Bloomberg and Reuters. Neither broker provides technical analysis tools from Autochartist or Trading Central. Also, neither Schwab nor Fineco offers sentiment-based trading tools to display long and short positions across various instruments. While both brokers include an economic calendar for global news events, Charles Schwab's research capabilities seem to hold a slight edge.
Charles Schwab excels with a 5-star research rating, ranking 4th among 63 brokers according to ForexBrokers.com. In contrast, Fineco earns a respectable 4.0 stars but ranks lower at 33rd place. Despite both platforms providing similar forex news and lacking in specific analytical tools, users looking for comprehensive market research might find more value in Charles Schwab's offerings. Fineco, meanwhile, still provides a strong research foundation for its users, but may not meet the needs of those seeking more frequent commentary and insights.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
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When it comes to educational resources for beginners, Charles Schwab offers a comprehensive selection that benefits those eager to learn about online trading. They provide over ten educational materials focused on forex and CFDs, and host regular online webinars that are easily accessible. Schwab's searchable archive of recorded webinars adds value, allowing users to revisit sessions at their convenience. With a variety of videos geared towards both beginners and advanced traders, Schwab covers a broad spectrum of trading topics. An investor dictionary with over 50 terms rounds out Schwab’s offerings, contributing to their impressive five-star rating for education and placing them sixth among 63 brokers in the category.
Fineco, while offering several valuable educational tools, provides slightly fewer resources than Schwab for the beginner’s journey. Although they regularly host online educational webinars and have beginner-focused videos, they lack a searchable archive of past webinars and advanced trading videos. Fineco does provide an investor dictionary akin to Schwab's and maintains a respectable four-star rating for educational content. However, they rank 49th among 63 brokers for educational resources, reflecting their opportunity to expand their educational offerings further.
| Feature |
Charles Schwab
|
Fineco
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Charles Schwab is better than Fineco. Charles Schwab finished with an overall rank of #6, while Fineco finished with an overall rank of #25.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
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Fineco
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 94 |
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While neither Charles Schwab nor Fineco provide options for purchasing actual delivered cryptocurrency, Charles Schwab distinguishes itself by offering the ability to invest in cryptocurrency derivatives, a service Fineco does not provide.
Both Charles Schwab and Fineco support ACH or SEPA transfers and bank wires for depositing or withdrawing funds, but neither broker offers PayPal, Skrill, Visa, or Mastercard as options.
Please 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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0 of 5| Overall Rating | Charles Schwab | Fineco | |
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| Trust Score | 99 | 94 | |
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| Review | Charles Schwab Review | Fineco Review |
| Broker Screenshots | Charles Schwab | Fineco | |
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| Regulation | Charles Schwab | Fineco | |
|---|---|---|---|
| Trust Score | 99 | 94 | |
| Year Founded | 1971 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | Fineco | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | Fineco | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | Fineco | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 9770 | |
| Forex Pairs (Total) | 73 | 54 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Charles Schwab | Fineco | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | No |
| Funding | Charles Schwab | Fineco | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | Fineco | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | Fineco | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 580 | N/A | |
| Charting - Indicators / Studies (Total) | 374 | 37 | |
| Charting - Drawing Tools (Total) | 24 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | Fineco | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | Fineco | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | Fineco | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | Fineco | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Charles Schwab Review | Fineco Review |
| Overall | Charles Schwab | Fineco | |
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| Trust Score | 99 | 94 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | Fineco Review |
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