This comparison pits a US focused broker against a CFD centric global trader, testing cost structures, features, and market access.
Find out which stock broker best suits your investing profile.
Choose if…
Choose Charles Schwab if you want commission-free US stock trading. It also offers fractional shares and strong research.
Choose if…
Choose IC Markets if you want global stock CFDs with DMA access.
Which broker wins for each type of stock trader, based on costs, safety, features, and editorial scoring.
| Editorial score | 4.6/ 5 | 4.1/ 5 |
|---|---|---|
| Min deposit | N/A | $200 |
| Spreads from | N/A | 0 pips |
| Commission / lot | N/A | $7/lot |
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | Charles Schwab | IC Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, SEC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS, SIPC) | Fail | Pass |
| Costs | ||
| Commission-free trading | Pass | Fail |
| No deposit fee | Pass | — |
| Features | ||
| Fractional shares | Pass | Fail |
| Dividend reinvestment (DRIP) | Pass | Fail |
| Extended hours trading | Pass | Fail |
| IPO access | Pass | Fail |
| Short selling | Pass | Pass |
| Stock screener tool | Pass | Fail |
| Support | ||
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
Charles Schwab rates 4.6/5 versus 4.1/5 for IC Markets. Charles Schwab edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
IC Markets starts from 0. Current spread data is not available for Charles Schwab. Check both brokers' websites for up-to-date spread and commission pricing.
IC Markets requires $200. Minimum deposit information is not currently available for Charles Schwab.
Both Charles Schwab and IC Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, IC Markets provides negative balance protection, capping losses at your deposit amount. Also compare demo account availability and educational resources on each broker's site before deciding.
Charles Schwab lists maximum leverage of 1:4, while IC Markets lists up to 5:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
IC Markets charges $7 per trade on commission-based accounts. Commission details for Charles Schwab are not currently available. Check their website for up-to-date pricing. Stock commissions may be charged as a flat rate per trade or per share; confirm the exact structure on each broker's website.
Charles Schwab supports thinkorswim, Proprietary Web/Mobile, while IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4. Charles Schwab has exclusive access to thinkorswim and Proprietary Web/Mobile. IC Markets has exclusive access to cTrader and MetaTrader 5 and TradingView and MetaTrader 4.
Charles Schwab offers commission-free stock trading while IC Markets does not according to our data. Commission-free trading can reduce costs for frequent traders. Always confirm the current fee structure directly on each broker's website.
IC Markets scores higher on investor protection criteria, with compensation scheme coverage and segregated client funds. For stock investors, confirming compensation scheme coverage ensures your assets are protected up to a defined limit if the broker becomes insolvent.
Charles Schwab wins for low-cost trading due to commission-free US stocks.
Charles Schwab leads on regulation with SEC and FINRA oversight.
Charles Schwab wins for long-term investors with fractional shares and DRIP.
Charles Schwab is best for active traders thanks to its proprietary platform.
Charles Schwab wins for beginners due to no account minimum and fractional shares.
IC Markets wins with access to 2,000+ share CFDs across major global markets.
| N/A |
| 0.7 pips |
| Inactivity fee | None | None |
|---|
| Deposit fee | Free | Free |
|---|
| Deposit methods | Bank transferACHWire transferCheque | Bank transferCredit cardDebit cardSkrillNetellerPayPal |
|---|
| Withdrawal methods | Bank transferACHWire transferCheque | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal fee | Free ACH; $25 wire transfer | Free |
|---|
| Commission-free | Yes | No |
|---|
| Fractional shares | Yes | No |
|---|
| Dividend reinvestment | Yes | No |
|---|
| Extended hours | Yes | No |
|---|
| IPO access | Yes | No |
|---|
| Short selling | Yes | Yes |
|---|
| Regulators | SEC FINRA | ASIC CySEC FSCA |
|---|
| Platforms | thinkorswim Proprietary Web/Mobile | cTrader MetaTrader 5 TradingView MetaTrader 4 |
|---|
| Active bonuses | 2 offers | None |
|---|
Charles Schwab edges IC Markets on editorial score. Schwab also offers commission-free US stock trading and a broad research stack, while IC Markets emphasizes CFDs and DMA access.
Dig deeper into each broker’s features, fees, and regulation.
Score 4.1 / 5
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