We derive a new method for a coupled nonlinear Schr/Sdinger system by using the square of first-order Fourier spectral differentiation matrix D1 instead of traditional second-order Fourier spectral differentiation matrix D2 to approximate the second derivative. We prove the proposed method preserves the charge and energy conservation laws exactly. In numerical tests, we display the accuracy of numerical solution and the role of the nonlinear coupling parameter in cases of soliton collisions. Numerical experiments also exhibit the excellent performance of the method in preserving the charge and energy conservation laws. These numerical results verify that the proposed method is both a charge-preserving and an energy-preserving algorithm.