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Head to head
Charles Schwab or Saxo? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
The full-service US giant that also happens to own the best retail trading platform in the business.
A Danish bank that trades like a professional platform — broad, polished, and no longer expensive.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
Four decision axes, each derived from the recorded data.
Overall Charles Schwab takes it, 4.6 against 4.4 out of 5. Charles Schwab is the cheaper of the two: a reference EUR 5,000 stock order costs €0.00 there against €4.00. Saxo scores 96 against 93 out of 100 on the group index. Your account's protection depends on its legal entity. Saxo covers more ground with 11 of 14 asset classes against 9. On platform and app Saxo is ahead, 4.7 against 4.6 out of 5. Which one is right depends on which of these axes matters for your trading profile.
SaxoSaxoSaxoSaxoSaxoUp to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | ||
|---|---|---|
| Overall score | 4.6 — Better | 4.4 |
| Group index | 93 of 100 | 96 of 100 |
| Best for | US long-term investorsOptions and futures tradersRetirement accountsInvestors who want branchesOne-account consolidation | Multi-asset portfoliosBond investorsOptions and futures tradersPlatform quality seekersEuropean investors wanting a bank |
| Regulation | SECFINRAFDIC | DFSAFCAFINMAMASJFSA |
| Top-tier licences | 3 | 5 — Better |
| Investor protection | US$500,000 — Better | CHF 100,000 |
| Listed group | Yes | No |
| Banking licence | Yes | Yes |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | No | Yes |
| Audited financials | Yes | Yes |
| Disclosed regulatory actions | 1 | None |
| Founded | 1971 | 1992 |
| Headquarters | Westlake, US | Copenhagen, DK |
| Fees | 4.6 — Better | 4.2 |
| Safety & regulation | 4.9 — Better | 4.7 |
| Trading platform | 4.8 — Better | 4.7 |
| Product range | 4.2 | 4.8 — Better |
| Mobile app | 4.4 | 4.6 — Better |
| Research | 4.7 — Better | 4.5 |
| Customer support | 4.8 — Better | 3.8 |
| Deposit & withdrawal | 4.2 — Better | 4.0 |
| Account opening | 4.3 — Better | 4.2 |
| Education | 4.6 — Better | 4.0 |
| Reference order EUR 5,000 | €0.00 — Better | €4.00 |
| Minimum deposit | None | None |
| Stocks (per order) | Free | 0.08 % |
| US stocks | Free | 0.08 % |
| ETFs | Free | 0.08 % |
| Options | US$0.65 — Better | US$2 |
| Futures | US$2.25 — Better | US$3 |
| Crypto | Not offered | n/a |
| Bonds (order) | US$1 — Better | 0.2 % |
| Funds (order) | US$49.95 | Free |
| EUR/USD spread | n/a | 0.7 pips |
| Index CFD spread | n/a | n/a |
| FX conversion | 1 % | 0.25 % — Better |
| Inactivity fee | None | None |
| Custody fee | None — Better | 0.15 % p.a. |
| Withdrawal fee | US$15 | free — Better |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 9 | 11 — Better |
| Exchanges | 12 | 50 — Better |
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | Yes |
| Forex | Yes | Yes |
| CFDs | No | Yes |
| Crypto | No | No |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | Yes |
| Spread betting | No | No |
| Social trading | No | No |
| Platforms | Schwab.com web platformthinkorswim Desktopthinkorswim WebSchwab Mobilethinkorswim MobileSchwab Trader API | SaxoTraderGOSaxoTraderPROSaxoInvestorSaxo mobile appSaxo OpenAPITradingView integration |
| Demo account | Yes | Yes |
| Fractional shares | Yes | No |
| Maximum leverage | 1:2 | 1:30 · Pro 1:200 |
| Account opening | Under 10 minutes online for US residents; 1–2 weeks for a Schwab One International account | Fully online with electronic ID in most markets; often same day, otherwise 1–3 business days |
| Account types | Schwab One brokerageSchwab Global AccountTraditional / Roth / Rollover IRASchwab One International | ClassicPlatinumVIP |
| Payment methods | Bank transferCheque | Bank transferSEPA |
| Account currencies | USD | EURUSDGBPCHFDKKSEKNOKAUDCADJPY+9 |
| Deposit time | Instant to 3 business days (ACH, wire, cheque) | SEPA same day to 2 business days; international wire 1–3 business days |
| Withdrawal time | 1–3 business days by ACH; same day by wire | Usually 1 business day to the registered bank account |
| Free withdrawals | n/a | n/a |
| Languages | EnglishSpanishChinese | EnglishDanishGermanFrenchItalianSpanishDutchPolishCzechSwedish+4 |
| Channels | PhoneEmailLive chatBranch | PhoneEmailLive chatTicket system |
| Availability | 24/7 | Monday to Friday, local office hours across 16 service locations; trading desks cover market hours |
Editorial assessment based on the recorded data.
Charles Schwab
The full-service US giant that also happens to own the best retail trading platform in the business.
Pros
Cons
Best for
Saxo
A Danish bank that trades like a professional platform — broad, polished, and no longer expensive.
Pros
Cons
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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