Charles Schwab
Saxo Markets
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Overview
Charles Schwab was founded in 2010 and is headquartered in United States, while Saxo Markets was established in 2012 and is based in Denmark. Charles Schwab holds licences including Commodity Futures Trading Commission (CFTC), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. Charles Schwab serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $25 at Charles Schwab and $6500 at Saxo Markets.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| Min. Deposit | $25 | $6500 |
| Regulation | Commodity Futures Trading Commission (CFTC) | Financial Conduct Authority (FCA) |
| Founded | 2010 | 2012 |
| Country | United States | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Charles Schwab and Saxo Markets, directly affecting your bottom line as a trader. Charles Schwab has a lower barrier to entry with a minimum deposit of $25 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Charles Schwab scores higher on fees in our assessment.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| Min. Deposit | $25 | $6500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Charles Schwab offers MT4, MT5, cTrader, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Android,WEB,Desktop,iPhone,Mac | Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Charles Schwab and Saxo Markets compare. Both provide video tutorials. Both integrate third-party research tools. The two brokers are evenly matched on educational content.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Charles Schwab accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Saxo Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Charles Schwab and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Charles Schwab | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |