Comparison of Saxo and Charles Schwab
| Feature | Saxo | Charles Schwab |
|---|---|---|
| Broker | ||
| Year Founded | 1992 | 1973 |
| Broker Type | DMA | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | Danish FSA, FCA, MAS, FINMA | SEC, FINRA, CFTC, NFA, FDIC |
| Platforms | SaxoTraderGO, SaxoTraderPRO, TradingView | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
| Spread | ⮕ Average | ⮕ Average |
| Maximum Leverage | 1:30 | 1:50 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK | USD |
| Funding Methods | Bank Wire, Credit Card, Debit Card | Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer |
| Inactivity Fee | ✖ | ✖ |
| Interest on Margin | ✔ | ✖ |
| Withdrawal Fee | ✖ | $25 domestic wire ($15 online); $0 ACH |
| Investor Protection | Danish Guarantee Fund, UK FSCS | SIPC |
| Protection Size | DKK 100 000 / £85 000 | $500 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✖ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Commodities |
| Review | Saxo Review | Charles Schwab Review |
About Saxo
Saxo is a Danish multi-asset broker and fully licensed bank offering Direct Market Access across more than 190 FX pairs, 19 000+ equities and thousands of other instruments. Regulated by the Danish FSA, FCA, MAS and FINMA, Saxo provides the award-winning SaxoTraderGO/PRO platforms plus TradingView connectivity. Its Classic account has no minimum deposit, floating FX spreads from 0.9 pips and leverage up to 1:30, while Platinum and VIP tiers unlock tighter pricing and premium service. Traders benefit from segregated client funds, negative-balance protection in the EU, rich analytics and extensive education.
Pros
- Bank-grade regulation (DK FSA, FCA, MAS, FINMA)
- No-minimum Classic account; tight DMA pricing
- 190+ FX pairs and 40 000+ instruments overall
- SaxoTraderGO/PRO plus TradingView integration
- Tiered positive-balance interest on cash
- Extensive research, webinars and market tools
Cons
- High deposits (USD 200k / 1 M) for better Platinum / VIP pricing
- No MetaTrader support
- Islamic swap-free accounts not available
About Charles Schwab
Charles Schwab is one of the largest U.S. brokers, serving more than 34 million clients with over $9 trillion in assets. Schwab offers zero-commission stock and ETF trades, powerful thinkorswim and StreetSmart Edge platforms, and access to 65+ forex pairs, futures, and 24/5 equity trading. Client assets are protected by SIPC up to $500,000 with additional coverage up to $600 million.
Pros
- Commission-free online stock and ETF trades
- No minimum deposit or inactivity fee
- 65+ forex pairs and 24/5 trading
- Robust research and education tools
- Enhanced SIPC protection up to $600 million
Cons
- $25 fee for outgoing domestic wires
- No direct spot-crypto or MT4/MT5
- Advanced platforms can overwhelm beginners
Saxo & Charles Schwab Regulation
| Feature | Saxo | Charles Schwab |
|---|---|---|
Companies | Saxo Bank A/S | Charles Schwab & Co., Inc.; Charles Schwab Bank, SSB |
Countries | Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France | United States |
Regulators | Danish FSA, FCA, MAS, FINMA | SEC, FINRA, CFTC, NFA, FDIC |
Investor Protection | Danish Guarantee Fund, UK FSCS | SIPC |
Investor Protection Size | DKK 100 000 / £85 000 | $500 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | Saxo | Charles Schwab |
|---|---|---|
DMA Account | ||
| Account Name | Classic | Schwab One® |
| Min Deposit | $1 | $1 |
| Lot Size | 0.01 | 0.1 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.9 | 1.4 |
| Fee | No | No |
| Max Leverage | 1:30 | 1:50 |
| Stop Out | 50% | 30% |
| Margin Call | 100% | 50% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | Saxo | Charles Schwab |
|---|---|---|
Base currencies | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK | USD |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card | Bank Wire, ACH (MoneyLink), Mobile Check Deposit, Internal Transfer |
Inactivity fee | ||
Interest on margin | ||
Withdrawal fee | $25 domestic wire ($15 online); $0 ACH |
Trading Platforms and Conditions
| Feature | Saxo | Charles Schwab |
|---|---|---|
Trading Platforms | SaxoTraderGO, SaxoTraderPRO, TradingView | Thinkorswim, StreetSmart Edge, Schwab Web, Mobile |
Execution Speed | 9 ms | 50 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | average |
Trading Assets
| Asset | Saxo | Charles Schwab |
|---|---|---|
Currencies | 190 | 65 |
Indices | 29 | 20 |
Stocks | 19000 | 6000 |
Cryptocurrencies | 20 | 1 |
Bonds | 5000 | 60000 |
Metals | 4 | 5 |
Energies | 5 | 5 |
Soft Commodities | 8 | 12 |
ETFs | 3000 | 2000 |
Education and Analytics
| Feature | Saxo | Charles Schwab |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | Saxo | Charles Schwab |
|---|---|---|
Email | salesCEE@saxobank.com | AccessibilityHelp@Schwab.com |
Phone | +4539774113 | +18004359050 |
Facebook | ||
LinkedIn | ||
YouTube | — | YouTube |
Twitter |
Which Broker is Better?
After comparing Saxo and Charles Schwab, Saxo comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Saxo Comparisons
Charles Schwab Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.