Broker review · 2026
Charles Schwab review 2026
Forex on thinkorswim, inside one of America’s largest brokerages.
Charles Schwab offers spot forex through the award-winning thinkorswim platform, inherited from TD Ameritrade. It is ideal if you already invest with Schwab and want to add currency trading without opening another account, though spreads are wider than forex specialists.
Pros
- thinkorswim is one of the best charting platforms available
- One login for stocks, options, futures and forex
- Exceptional research and education
- Backed by one of the largest US financial institutions
Cons
- Wider spreads than tastyfx or Interactive Brokers
- Forex requires a margin account and separate approval
- No MetaTrader
Charles Schwab overview
After acquiring TD Ameritrade, Schwab moved the thinkorswim platform and its forex offering to Schwab accounts. Forex trading is provided through Charles Schwab Futures and Forex LLC, a CFTC-registered entity, and covers 70+ currency pairs.
Is Charles Schwab safe and regulated?
The Charles Schwab Corporation is an S&P 500 company with trillions of dollars in client assets. Its brokerage is regulated by the SEC and FINRA, and the forex business is regulated by the CFTC and NFA.
Tier-1 regulators are shown in bold. Always confirm the licence on the regulator’s own register.
Charles Schwab spreads and fees
Forex is commission-free with costs built into the spread. EUR/USD spreads are typically around 1.0 to 1.3 pips, competitive for a full-service broker but wider than specialist forex brokers or IBKR’s interbank pricing.
| Account | EUR/USD spread | Commission (round turn) | Cost per lot |
|---|---|---|---|
| Standard | 1.2 pips | $0 | $12.0 |
Trading platforms
thinkorswim offers advanced charting with hundreds of studies, thinkScript for custom indicators, paper trading with paperMoney, and a powerful mobile app. Research from Schwab’s strategists and the Schwab Coaching team is included.
How Charles Schwab scores
- Trust & regulation 30%
- 5.0
- Fees & spreads 25%
- 3.8
- Platforms & tools 15%
- 4.8
- Markets & range 10%
- 4.6
- Ease of use 10%
- 4.2
- Research & education 10%
- 4.9
Verdict
If you already hold a Schwab brokerage account, adding forex via thinkorswim is convenient and safe. Dedicated forex traders will find lower costs at tastyfx, OANDA or Interactive Brokers.
Open an account with Charles SchwabYou will be taken to schwab.com.
Charles Schwab FAQ
Can you trade forex with Charles Schwab?
Yes. Schwab offers 70+ currency pairs on thinkorswim through Charles Schwab Futures and Forex LLC.
Does Schwab charge commission on forex?
No. Schwab’s forex pricing is built into the spread with no separate commission.
Do I need approval to trade forex at Schwab?
Yes. You need a margin-enabled account and forex trading approval.
Is Charles Schwab good for beginners?
Charles Schwab scores 4.2/5 for ease of use. It is better suited to traders with some experience; beginners may prefer these brokers.