Charles Schwab vs RoboForex

Charles Schwab vs RoboForex Comparison Table 2024
Charles Schwab RoboForex
2.8
4.5

Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.

RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.

RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Customer Reviews
3.5
Bonus Offer
$30 No Deposit Bonus
Comment by Reviewer
"Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts." "RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
Pros
  • Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency
  • Powerful trading software with real-time quotes, fundamental research and investment screeners
  • Responsive customer support team available 24/7 via live chat or telephone
  • Competitive trading fees with no commissions on stocks and ETFs
  • Fractional shares on the S&P 500 with a $5 minimum investment
  • Thematic investing categories and ESG compliant portfolios
  • Strong regulatory oversight from the US SEC and UK FCA
  • No account minimums for individual brokerage accounts
  • High-quality educational resources for new investors
  • RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
  • The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows day traders to maximize their trading potential, albeit with a corresponding increase in risk.
  • The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
  • RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
  • The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
Cons
  • Only US markets available (except 12 foreign markets on the Global Account)
  • High minimum investment of $5000 to use robo-advisors
  • Limited funding methods with no e-wallets
  • No email support
  • Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders.
  • While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
  • RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
  • RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
  • Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
Awards
  • Best Multi Asset Trading Platform 2023 - Global Brands Magazine Awards
  • Best Trading Conditions 2023 - International Business Magazine Awards
  • Best Mobile Trading App 2022 - GF Awards B2B
  • Most Trusted Broker 2022 - International Business Magazine Awards
  • Best Investment Products 2021 - Global Brands Magazine Awards
  • Best Global Mobile Trading App 2020 - Global Forex Awards B2B
  • Best Broker of the CIS 2019 - IAFT Awards
  • Best Investment Products 2019 - Global Brands Magazine
Instruments
Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • Own
  • R StocksTrader
  • MT4
  • MT5
  • TradingView
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
SEC, FINRA, FCA1 IFSC
Margin Trading
No Yes
STP Account
No Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No No
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
Yes No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS & Android, R StocksTrader
App Review

RoboForex continues to excel with its wide range of iOS and Android-friendly platforms to meet short-term trading needs, including MT4 and MT5. The R StocksTrader app performed particularly well during testing, with a vast selection of stocks and ETFs, portfolio analytics, customizable watchlists, an events tracker, plus a fast and dependable mobile trading environment. The only notable absence in the RoboForex offering is the increasingly popular cTrader app, that’s favored by many day traders.

Android App Rating
4.4
iOS App Rating
4.7
Auto Trading
Yes Expert Advisors (EAs) on MetaTrader, Strategy Builder in R StocksTrader
Copy Trading
No Yes
Copy Trading Platform
RoboForex’s CopyFX service is designed specifically for currency traders with flexible control over your funds. The ‘Rating’ view provides helpful metrics on master traders, notably profit/loss, maximum drawdown, balance and number of trades spanning time intervals from 1 week to 6 months. That said, the joining process and resources are convoluted, which may confuse newer investors, while the interface trails the smooth user experience provided by category leaders like eToro.
Social Trading
No Yes
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
Yes No
Custodial Account
Yes No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No Yes
Account Currencies
  • USD
  • USD
  • EUR
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered RoboForex offers a growing suite of over 12,000 CFDs, encompassing forex, stocks, indices, commodities, futures and ETFs. With an initial deposit of $10 and micro lot trading through to very high leverage up to 1:2000, RoboForex caters to a broad range of derivative traders. On the downside, analysis reveals execution speeds of 1-3 seconds, noticeably slower than IC Markets at 0.35 seconds, and suboptimal for fast-paced strategies like scalping.
Leverage
1:2000
GBPUSD Spread
0.4
Oil Spread
1.7
Stocks Spread
0.01
Forex Trading
Forex trading not offered RoboForex offers trading on 30+ currency pairs, trailing category leaders like Pepperstone with its 90+ forex assets. That said, the Prime and ECN accounts feature competitive average spreads of 0.1 pips on the EUR/USD. Additionally, with a minimum investment of $100, traders can utilize the CopyFX system to replicate the strategies of seasoned currency traders.
GBPUSD Spread
0.4
EURUSD Spread
0.1
EURGBP Spread
0.4
Assets
30+
Cryptocurrency
Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum. Crypto trading not offered
Spread
Floating Variable
Coins
  • GBTC
  • BITW
  • No
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
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