Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs IFC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Charles Schwab and IFC Markets offer online brokerage services, but they differ significantly in aspects related to trust and regulation, which can be crucial for investors. Founded in 1971, Charles Schwab is a prominent name in the financial industry, publicly traded and operating as a bank. This standing is supported by its five Tier-1 licenses, considered highly trusted by ForexBrokers.com. Charles Schwab has earned a top Trust Score rating of 99, placing it at the highest level of trustworthiness for brokers.
In contrast, IFC Markets, established in 2006, is not publicly traded and doesn't function as a bank. It holds one Tier-2 license, with no Tier-1 licenses, and thus attracts a Trust Score rating of 73 from ForexBrokers.com, indicating an average risk level. These differences highlight the gap in perceived trust and reliability, with Charles Schwab offering a more established and trusted option for those prioritizing strong regulatory oversight.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Year Founded | 1971 | 2006 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing commissions and fees, Charles Schwab and IFC Markets each offer distinct features for forex traders. Charles Schwab boasts no minimum deposit requirement and supports trading on its acclaimed thinkorswim platform through accounts like Schwab One and Schwab Global. Although Schwab does not charge commissions on forex trading, it profits from the bid/ask spread, with an average spread of 1.35 pips on EUR/USD trades as of October 2024. Schwab One accounts require trades to be settled in U.S. dollars and have a small trade size requirement of 10,000 units. Schwab Global, on the other hand, provides access to twelve international markets, albeit with conversion fees ranging from 0.2% to 1%, depending on the account balance.
IFC Markets, meanwhile, presents a straightforward fee structure. The broker's average spread for EUR/USD stands at 1.44 pips, slightly higher than the industry average of 1.08 pips. However, their new ECN account offers improved spreads at approximately 1.1 pips, factoring in a commission of 0.005% on each side of a trade. Unlike Schwab, IFC Markets does not charge inactivity fees and offers active trader discounts, which can be appealing for investors continuously engaging in trades.
Both brokers are rated four stars out of five for commissions and fees. Despite this equal rating, Charles Schwab ranks higher at #23 compared to IFC Markets' #39 placement out of 63 brokers, according to ForexBrokers.com. Such rankings suggest Schwab may offer a more favorable fee environment for some traders, particularly those interested in the thinkorswim platform and diverse market access. Conversely, IFC Markets might attract traders seeking competitive ECN pricing and simple pricing structures without inactivity costs.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $1 |
| Average Spread EUR/USD - Standard | 1.35 | 1.44 |
| All-in Cost EUR/USD - Active | 1.35 | 1.1 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
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When comparing the range of investments offered by Charles Schwab and IFC Markets, Charles Schwab emerges as a more diverse platform with 40,000 tradable symbols, including access to 73 forex pairs. This extensive selection includes the ability to trade exchange-listed securities from both U.S. and international exchanges, such as Apple shares on the NASDAQ and Vodafone shares on the London Stock Exchange. In addition, Schwab allows for the trading of cryptocurrency derivatives, although it does not offer the purchase of actual cryptocurrencies. Schwab's comprehensive offerings earn it a 5-star rating for investment range, placing it fifth among 63 brokers on ForexBrokers.com.
In contrast, IFC Markets provides access to a more limited 630 tradable symbols, with 49 forex pairs available. While it may not offer U.S. exchange-listed securities like Apple, it does allow for trading foreign shares like Vodafone in London, similar to Schwab. IFC Markets supports trading cryptocurrency derivatives but falls short of providing actual crypto purchases. Despite its more modest set of options, IFC Markets earns a 3.5-star rating for its investment range, ranking 43rd among 63 brokers on ForexBrokers.com. If you’re seeking copy trading features, IFC Markets provides this option, which might appeal to traders looking to mirror the strategies of others.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 630 |
| Forex Pairs (Total) | 73 | 49 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by Charles Schwab and IFC Markets, both brokers provide a comprehensive suite of features to accommodate different trading needs. Charles Schwab boasts a proprietary platform available for Windows and web-based access, offering users the ability to trade directly from stock charts. It supports simulated trading with a free virtual account and features an impressive 580 columns for watch lists, as well as 24 drawing tools for charting. On the other hand, IFC Markets also provides a Windows-compatible proprietary platform alongside web-based options, and they too offer simulated trading with a demo account. While IFC Markets stands out by supporting MetaTrader 4 and 5, along with copy trading, it offers fewer charting tools with 15 drawing tools and 7 columns in watch lists.
In terms of ratings, Charles Schwab shines with a perfect five-star rating from ForexBrokers.com for its Trading Platforms and Tools, earning a prestigious #5 ranking out of 63 brokers in this category. In comparison, IFC Markets achieves a respectable four-star rating and is positioned at #36. This evaluation points to Charles Schwab's more feature-rich and highly rated platform offerings, particularly for those who prioritize extensive charting capabilities and vast customizable watch lists. Meanwhile, IFC Markets appeals to traders seeking platforms compatible with MetaTrader and additional features like copy trading.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 30 |
| Charting - Drawing Tools (Total) | 24 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, Charles Schwab and IFC Markets both offer compatibility with iPhone and Android devices. Both apps provide essential features like stock and forex price alerts, watchlist symbol syncing, the ability to draw trendlines, and multiple time frames on charts. These ensure users can seamlessly track and adjust their portfolios on the go. Additionally, both platforms support real-time quotes on customized watchlists, and they allow users to auto-save chart drawings for ease of use across both app and desktop interfaces.
Despite these similarities, there are some notable differences between Charles Schwab and IFC Markets. Charles Schwab offers an impressive 374 technical studies for charting, compared to IFC Markets' 30. This range provides Schwab users with more advanced tools for analysis. Furthermore, Charles Schwab enjoys a higher user satisfaction rating, earning 5 stars compared to IFC Markets' 4 stars. This is reflected in the ForexBrokers.com rankings, where Charles Schwab stands at #6 out of 63 brokers, while IFC Markets holds the #52 spot. These distinctions may influence traders seeking a comprehensive app experience, particularly those who prioritize advanced charting capabilities and user satisfaction.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 374 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Charles Schwab and IFC Markets both provide valuable resources for market research, yet they differ in key areas. Both platforms offer daily market commentary and maintain an economic calendar for traders to stay updated on global markets. However, Charles Schwab stands out by delivering forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, whereas IFC Markets does not offer news from these leading providers. Additionally, while neither platform incorporates research tools from Autochartist, Trading Central, or Acuity Trading, IFC Markets uniquely offers a sentiment-based trading tool, providing insights into market positions across various instruments.
When it comes to overall research capabilities, Charles Schwab is rated higher with a robust 5-star rating, placing it at an impressive #4 out of 63 brokers in ForexBrokers.com's research category. On the other hand, IFC Markets holds a 3.5-star rating and ranks #40. This distinction highlights a significant difference in research quality and resources, positioning Charles Schwab as a preferred choice for those seeking comprehensive market research facilities.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Charles Schwab and IFC Markets provide a wealth of content focused on forex and CFDs. Each offers over 10 educational pieces like articles and videos to help budding traders get started. However, Charles Schwab stands out by hosting monthly online webinars and maintaining a searchable archive of past sessions. These features make it easier for beginners to learn at their convenience and pace. Additionally, both brokers offer more than 10 beginner-oriented educational videos, ensuring that novices have ample material to build their foundational knowledge.
For those advancing in their trading journey, both Charles Schwab and IFC Markets offer videos tailored for experienced traders. They also provide valuable resources like investor dictionaries with definitions of over 50 investing terms, assisting traders with deepening their understanding of industry jargon. Despite similar offerings, Charles Schwab earns a higher education rating of 5 stars, and ranks #6 out of 63 brokers according to ForexBrokers.com, whereas IFC Markets is rated 3.5 stars and positioned at #30. This suggests that Charles Schwab may offer a slightly more comprehensive and accessible educational experience for traders at all levels.
| Feature |
Charles Schwab
|
IFC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 IFC Markets. Charles Schwab finished with an overall rank of #6, while IFC Markets finished with an overall rank of #45.
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
|
IFC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 73 |
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Both Charles Schwab and IFC Markets do not offer the ability to purchase actual delivered cryptocurrency, but they both provide options for trading cryptocurrency derivatives.
When comparing online brokers, Charles Schwab supports ACH and SEPA transfers alongside bank wire options for account transactions, whereas IFC Markets provides Visa/Mastercard options and also supports bank wires but lacks ACH, SEPA, PayPal, and Skrill as payment methods.
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 | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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| Regulation | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Trust Score | 99 | 73 | |
| Year Founded | 1971 | 2006 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | No | |
| 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 | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 630 | |
| Forex Pairs (Total) | 73 | 49 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| 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). |
| Cost | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 1.44 | |
| All-in Cost EUR/USD - Active | 1.35 | 1.1 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $1 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 30 | |
| Charting - Drawing Tools (Total) | 24 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | IFC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Charles Schwab | IFC Markets | |
|---|---|---|---|
| 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 |
| Overall | Charles Schwab | IFC Markets | |
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| Trust Score | 99 | 73 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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