Charles Schwab vs eToro 2024

Charles Schwab is publicly-traded, does operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Schwab is authorised by the following Tier-1 regulators: Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

eToro is not publicly traded and does not operate a bank. eToro is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). eToro is authorised by the following Tier-1 regulators: Australian Securities & Exchange Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

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.

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.

To open a trading account with Charles Schwab, you'll need to make an initial minimum deposit of $0.

eToro requires a minimum deposit of $50-$10,000 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Charles Schwab offers Bank Wire (Deposit/Withdraw) for banking, whereas eToro provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that eToro offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Charles Schwab holds 5 global Tier-1 licenses, while eToro holds 3. Both Charles Schwab and eToro hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Charles Schwab (99) earned a higher Trust Score than eToro (90).

To compare the trading platforms of both Charles Schwab and eToro, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab to provide better mobile trading apps.

Here’s what trading platforms are available at Charles Schwab:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

Here’s what trading platforms are available at eToro:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Neither broker offers Meta Trader. Forex traders also appreciate the ability to engage in social copy trading. While eToro offers copy trading, Charles Schwab does not.

Charles Schwab provides traders 73 currency pairs (e.g., EUR/USD) compared to eToro's 52 available pairs. If you are interested in trading a full range of securities, Charles Schwab offers traders access to 40000 tradeable symbols, while eToro offers access to 3479 tradeable symbols; so Charles Schwab offers 36521 more tradeable symbols than eToro.

We found in our testing that Charles Schwab offers a more diverse selection of investment options than eToro, allowing you to trade Forex Trading (Spot or CFDs), Int'l Stock Trading (Non CFD) and Cryptocurrency (Derivative). Neither have Spread Betting.