Written by ForexBrokers.com
In this head to head comparison of Charles Schwab vs IUX, 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, established in 1971, is a veteran in the financial industry and holds a Trust Score of 99, making it highly trusted according to ForexBrokers.com. Being publicly traded and operating as a bank, Charles Schwab offers a strong regulatory presence with five Tier-1 licenses. These licenses reflect the firm's commitment to high standards of trust and reliability in the online brokerage landscape. In contrast, IUX, which started in 2016, operates without the backing of a public listing or banking status. Holding one Tier-1 license and one Tier-2 license, IUX is considered an average risk player by ForexBrokers.com, with a Trust Score of 78.
Both Charles Schwab and IUX provide online brokerage services, but they differ significantly in terms of regulatory credentials and trustworthiness. Charles Schwab's extensive experience and multiple high-level licenses position it as a more reliable choice for investors seeking stability and security. Meanwhile, IUX's limited regulatory coverage suggests its suitability for those who are more comfortable with moderate risk. Overall, these factors outline the key differences that potential clients might consider when choosing between the two brokers.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Year Founded | 1971 | 2016 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of Charles Schwab to IUX, both brokers hold a four-star rating but offer distinct pricing structures. Charles Schwab has no minimum deposit requirement for its primary brokerage accounts, specifically Schwab One and Schwab Global, which provide access to forex trading via the thinkorswim platform. Noteworthy is that Schwab does not charge commissions on forex trades, relying instead on the bid/ask spread, with the EUR/USD pair averaging a 1.35 pip spread in October 2024. However, international trades may incur conversion fees between 0.2% to 1%, depending on the account balance. Schwab is ranked #23 on ForexBrokers.com for commissions and fees among 63 brokers.
Conversely, IUX offers flexible pricing depending on the account type, suitable for both casual and active traders. With a low $10 minimum deposit, IUX’s Standard accounts come with varying spread options, while the Raw and Pro accounts cater to more active traders with a $500 minimum deposit. The Raw account features low spreads but includes a $6 commission per 100,000 units, whereas the Pro account offers competitive spreads without the additional commission. Average spreads for the EUR/USD are reported as 0.7 pips for Pro and 0.9 pips for the Standard account, with Raw accounts providing approximately 0.6 pips when accounting for commission costs. IUX is placed at #48 for commissions and fees by ForexBrokers.com.
In summary, both Charles Schwab and IUX offer appealing options depending on your trading needs. Schwab stands out with commission-free forex trading and wide access to international markets, albeit with some higher spread costs. Meanwhile, IUX offers tailored accounts that balance lower spreads and commission costs, making it a competitive option, especially for more frequent traders. Choosing the right broker will depend on balancing spreads, commissions, and initial deposit requirements in line with your trading strategy.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Minimum Deposit | $0 | 10 |
| Average Spread EUR/USD - Standard | 1.35 | 0.9 |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
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When comparing the investment options provided by Charles Schwab and IUX, it's clear that Charles Schwab offers a significantly broader selection. With 40,000 tradeable symbols, investors have access to a vast array of opportunities compared to IUX’s smaller offering of 152 symbols. In the world of forex trading, Charles Schwab emerges as a leader with 73 tradeable forex pairs, more than double IUX’s 34 pairs. Both brokers allow trading in forex either through CFDs or spot contracts, providing flexibility for currency investors.
Charles Schwab also supports trading of exchange-traded securities on U.S. exchanges, a feature not available at IUX. When it comes to international markets, both brokers provide access, allowing investors to diversify globally. Neither broker supports the purchase of actual cryptocurrencies, but they do offer cryptocurrency derivatives. Charles Schwab's expansive range earns it a high rating of 5 stars and a commendable #5 rank by ForexBrokers.com for Range of Investments, while IUX garners a 3.5-star rating and a #60 rank. This highlights Charles Schwab as the go-to platform for investors seeking a wide array of investment options.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 152 |
| Forex Pairs (Total) | 73 | 34 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| 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). |
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Charles Schwab and IUX both offer a variety of trading platforms suited for different user preferences, providing virtual demo accounts for simulated trading, proprietary platforms developed in-house, and easy-to-use web-based and Windows desktop platforms. However, IUX has the edge with support for MetaTrader 5, offering added flexibility for those seeking more diverse trading options. While neither broker provides features like copy trading or integration with popular social trading platforms such as ZuluTrade and DupliTrade, both Charles Schwab and IUX allow users to trade directly from stock charts, enhancing the convenience and efficiency of their trading processes.
Charles Schwab outshines IUX in several aspects, including the sheer number of drawing tools and customizable fields for watch lists, offering an impressive 580 columns compared to IUX's 46. Despite this, IUX boasts a significantly greater number of drawing tools for charting applications. In terms of overall ratings and rankings, Charles Schwab garners a full 5 stars for its trading platforms and tools, while IUX receives 3.5 stars. Additionally, Charles Schwab secures the #5 spot out of 63 brokers in the category, indicating a high level of satisfaction among traders, whereas IUX ranks #59. This comparison suggests that while both brokers offer comprehensive trading solutions, Charles Schwab generally provides a superior experience in terms of platform features and user satisfaction.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 374 | 106 |
| Charting - Drawing Tools (Total) | 24 | 89 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 46 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Charles Schwab and IUX, both platforms offer accessibility for iPhone and Android users. However, they differ in features that could impact your trading experience. Charles Schwab's app provides alerts for stock or forex prices, allowing users to stay updated in real time, whereas IUX lacks this feature. Additionally, Charles Schwab enables watchlist symbol syncing across mobile and online platforms, while IUX does not, which may affect how you manage your investments across different devices.
For those interested in technical analysis, Charles Schwab supports a significantly larger number of technical studies, with 374 options compared to IUX's 106. The ability to draw trendlines is only supported by Charles Schwab, though both apps allow viewing multiple time frames and offer auto-saving of chart drawings. In terms of ratings, Charles Schwab scores a perfect 5-star rating for its mobile trading app, ranking #6 among 63 brokers, whereas IUX receives a 3.5-star rating and ranks at #60. These distinctions highlight Charles Schwab's superiority in delivering a comprehensive mobile trading experience.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 374 | 106 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In comparing the market research offerings between Charles Schwab and IUX, several key differences stand out. Charles Schwab excels in delivering daily market commentary and provides forex news sourced from top-tier platforms like Bloomberg and Reuters. IUX, on the other hand, does not offer daily market commentary or access to top-tier forex news, which may leave traders seeking up-to-date insights wanting more. Both platforms fall short when it comes to providing technical analysis or fundamental research tools from renowned companies such as Autochartist or Trading Central, as well as sentiment-based tools and market research from TipRanks or Acuity Trading.
However, both Charles Schwab and IUX provide an economic calendar that lists current and upcoming global news events, helping investors stay informed about market-moving events. Despite some similarities, Charles Schwab's market research capabilities receive a higher rating, boasting 5 stars compared to IUX's 3 stars. This difference is also reflected in the rankings by ForexBrokers.com, where Charles Schwab is placed at an impressive #4 out of 63 brokers, while IUX trails behind at #59. Overall, Charles Schwab presents a stronger offering for traders who prioritize comprehensive market research.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| 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 |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Charles Schwab stands out as a comprehensive platform for new traders. It offers a wide range of educational materials, including forex and CFD education with more than ten pieces of content dedicated to these subjects. Charles Schwab holds regular educational webinars each month, providing clients with a consistent opportunity for learning. Additionally, it provides a searchable archive of recorded webinars, allowing users to revisit past sessions at their convenience. For those starting their trading journey, Charles Schwab also offers more than ten beginner-focused educational videos, complemented by an investor dictionary with over fifty investment terms, making complex terminology accessible. As a result of these offerings, Charles Schwab has received a 5-star education rating and secured the 6th place ranking in ForexBrokers.com's Education category.
On the other hand, IUX is more limited in its educational offerings. While it does provide at least ten educational videos focused on beginners, it falls short in several areas. IUX does not offer forex or CFD-specific educational content, monthly webinars, or an archive of past webinars, which might restrict continuous learning opportunities for its users. Furthermore, it lacks advanced educational videos for more seasoned traders and does not provide an investor dictionary, potentially leaving beginners without essential resources. As a consequence, IUX has received a 3-star rating for education and is ranked 59th by ForexBrokers.com among 63 brokers in the Education category. This comparison highlights Charles Schwab's clear advantage in delivering a well-rounded educational experience for newcomers to online trading.
| Feature |
Charles Schwab
|
IUX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 IUX. Charles Schwab finished with an overall rank of #6, while IUX finished with an overall rank of #55.
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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IUX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 78 |
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Both Charles Schwab and IUX offer the ability to buy cryptocurrency derivatives, but neither platform provides the option to purchase actual delivered cryptocurrencies.
Charles Schwab supports ACH and SEPA transfers as well as bank wires but not PayPal, Skrill, or Visa/Mastercard for account transactions, while IUX offers Skrill, Visa/Mastercard, and bank wires but does not support ACH, SEPA, or PayPal.
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 | IUX | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
| Broker Screenshots | Charles Schwab | IUX | |
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| Regulation | Charles Schwab | IUX | |
|---|---|---|---|
| Trust Score | 99 | 78 | |
| Year Founded | 1971 | 2016 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 5 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | IUX | |
|---|---|---|---|
| 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 | 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 | IUX | |
|---|---|---|---|
| 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 | IUX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 152 | |
| Forex Pairs (Total) | 73 | 34 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| 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 | IUX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | 0.9 | |
| All-in Cost EUR/USD - Active | 1.35 | 0.6 | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | IUX | |
|---|---|---|---|
| Minimum Deposit | $0 | 10 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Charles Schwab | IUX | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Charles Schwab | IUX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 46 | |
| Charting - Indicators / Studies (Total) | 374 | 106 | |
| Charting - Drawing Tools (Total) | 24 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Charles Schwab | IUX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 374 | 106 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | Charles Schwab | IUX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | IUX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | Charles Schwab | IUX | |
|---|---|---|---|
| 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 | IUX | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review |
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