U.S. retail forex brokers
Broker Review
Charles Schwab Forex
Founded or launched in 1971 by Charles R. Schwab, Charles Schwab Forex makes forex available through thinkorswim for approved Schwab customers. Its service model, regulatory registrations and custody arrangements should be considered together because the customer-facing name may span more than one legal entity. The service is not separately listed and therefore has no standalone market capitalization.
Strengths
- Makes forex available through thinkorswim for approved Schwab customers
Drawbacks
- At Charles Schwab Forex, leverage can produce losses well beyond the expected risk budget, while data, routing, liquidation and platform charges complicate the advertised commission
Profile
What you can trade
Charles Schwab Forex covers a broker-specific set of major, minor and selected exotic currency pairs for approved U.S. customers; leverage and rollover terms follow CFTC and NFA retail-forex limits.
Account types
Individual and entity margin accounts approved for retail foreign exchange; retirement and custodial registrations are generally unavailable for spot forex. The registration structure reflects the fact that the service makes forex available through thinkorswim for approved Schwab customers.
Platform
Schwab.com, Schwab Mobile, thinkorswim desktop, web and mobile. The resulting workflow is tailored to a business that makes forex available through thinkorswim for approved Schwab customers.
Who it suits
Best suited to Charles Schwab Forex customers whose principal requirement is the capability described in this profile, rather than investors choosing a broker only because of a zero-commission headline.
Where it is offered
Charles Schwab Forex may accept a U.S. resident only through the NFA-registered domestic entity described in its disclosure documents. Overseas affiliates use different leverage rules and are not substitutes for the U.S. account.
Regulation and sources
Official website: https://schwab.com/ Regulatory status should be verified through FINRA BrokerCheck, SEC/IAPD, NFA BASIC, state regulators or applicable alternative-asset disclosures. Last verified: 2026-08-11.