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Written by StockBrokers.com
August 06, 2024
Is Fidelity better than Charles Schwab? After testing 18 of the best online brokers, our analysis finds that Fidelity (98.7%) is better than Charles Schwab (96.6%). Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.
Select Brokers
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- check_box_outline_blankcheck_boxAlly Invest
- check_box_outline_blankcheck_boxCharles Schwab
- check_box_outline_blankcheck_boxCiti Self Invest
- check_box_outline_blankcheck_boxE*TRADE
- check_box_outline_blankcheck_boxeToro
- check_box_outline_blankcheck_boxFidelity
- check_box_outline_blankcheck_boxFirstrade
- check_box_outline_blankcheck_boxInteractive Brokers
- check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
- check_box_outline_blankcheck_boxMerrill Edge
- check_box_outline_blankcheck_boxPublic.com
- check_box_outline_blankcheck_boxRobinhood
- check_box_outline_blankcheck_boxSoFi Invest
- check_box_outline_blankcheck_boxtastytrade
- check_box_outline_blankcheck_boxTD Ameritrade
- check_box_outline_blankcheck_boxTradeStation
- check_box_outline_blankcheck_boxTradier
- check_box_outline_blankcheck_boxVanguard
- check_box_outline_blankcheck_boxWebull
Overall Rating | Fidelity | Charles Schwab | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Fidelity Review | Charles Schwab Review |
Broker Screenshots | Fidelity | Charles Schwab | |
---|---|---|---|
Trading Platform & Tools Gallery (click to expand) | |||
Research Gallery (click to expand) | |||
Mobile Trading Apps Gallery (click to expand) | |||
Education Gallery (click to expand) |
Trading Fees | Fidelity | Charles Schwab | |
---|---|---|---|
Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC)info | $0.00 | $6.95 | |
Mutual Fund Trade Fee | Varies info | Varies | |
Options (Per Contract) | $0.65 | $0.65 | |
Futures (Per Contract) | (Not offered) | $2.25 | |
Broker Assisted Trade Fee | $32.95 | $25 |
Margin Rates | Fidelity | Charles Schwab | |
---|---|---|---|
Margin Rate Under $25,000 | 13.575% | 13.575% | |
Margin Rate $25,000 to $49,999.99 | 13.075% | 13.075% | |
Margin Rate $50,000 to $99,999.99 | 12.125% | 12.125% | |
Margin Rate $100,000 to $249,999.99 | 12.075% | 12.075% | |
Margin Rate $250,000 to $499,999.99 | 11.825% | 11.825% | |
Margin Rate $500,000 to $999,999.99 | 9.5% | Varies info | |
Margin Rate Above $1,000,000 | 9.25% | Varies info |
Account Fees | Fidelity | Charles Schwab | |
---|---|---|---|
IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $0.00 | $0.00 | |
Account Transfer Out (Partial)info | $0.00 | $0.00 | |
Account Transfer Out (Full)info | $0.00 | $50.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Fidelity | Charles Schwab | |
---|---|---|---|
Stock Tradinginfo | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Sharesinfo | Yes | Yes | |
OTC Stocksinfo | Yes | Yes | |
Options Tradinginfo | Yes | Yes | |
Complex Options Max Legsinfo | 4 | 4 | |
Futures Tradinginfo | No | Yes | |
Forex Tradinginfo | No | Yes | |
Crypto Tradinginfo | Yes | No | |
Crypto Trading - Total Coinsinfo | 2 | 0 | |
Mutual Funds (No Load)info | 5843 | 15163 | |
Mutual Funds (Total)info | 10000 | 18145 | |
Bonds (US Treasury)info | Yes | Yes | |
Bonds (Corporate)info | Yes | Yes | |
Bonds (Municipal)info | Yes | Yes | |
Traditional IRAsinfo | Yes | Yes | |
Roth IRAsinfo | Yes | Yes | |
Advisor Servicesinfo | Yes | Yes | |
International Countries (Stocks)info | 25 | 13 |
Order Types | Fidelity | Charles Schwab | |
---|---|---|---|
Order Type - Marketinfo | Yes | Yes | |
Order Type - Limitinfo | Yes | Yes | |
Order Type - After Hoursinfo | Yes | Yes | |
Order Type - Stopinfo | Yes | Yes | |
Order Type - Trailing Stopinfo | Yes | Yes | |
Order Type - OCOinfo | Yes | Yes | |
Order Type - OTOinfo | Yes | Yes | |
Order Type - Broker Assistedinfo | Yes | Yes |
Beginners | Fidelity | Charles Schwab | |
---|---|---|---|
Education (Stocks)info | Yes | Yes | |
Education (ETFs)info | Yes | Yes | |
Education (Options)info | Yes | Yes | |
Education (Mutual Funds)info | Yes | Yes | |
Education (Bonds)info | Yes | Yes | |
Education (Retirement)info | Yes | Yes | |
Retirement Calculatorinfo | Yes | Yes | |
Investor Dictionaryinfo | Yes | Yes | |
Paper Tradinginfo | No | No | |
Videosinfo | Yes | Yes | |
Webinarsinfo | Yes | Yes | |
Webinars (Archived)info | Yes | Yes | |
Progress Trackinginfo | Yes | Yes | |
Interactive Learning - Quizzesinfo | Yes | Yes |
Stock Trading Apps | Fidelity | Charles Schwab | |
---|---|---|---|
iPhone Appinfo | Yes | Yes | |
Android Appinfo | Yes | Yes | |
Apple Watch Appinfo | Yes | Yes | |
Trading - Stocksinfo | Yes | Yes | |
Trading - After-Hoursinfo | Yes | Yes | |
Trading - Simple Optionsinfo | Yes | Yes | |
Trading - Complex Optionsinfo | Yes | Yes | |
Order Ticket RT Quotesinfo | Yes | Yes | |
Order Ticket SRT Quotesinfo | Yes | No |
Stock App Features | Fidelity | Charles Schwab | |
---|---|---|---|
Market Movers (Top Gainers)info | Yes | Yes | |
Stream Live TVinfo | Yes | Yes | |
Videos on Demandinfo | Yes | Yes | |
Stock Alertsinfo | Yes | Yes | |
Option Chains Viewableinfo | Yes | Yes | |
Watch List (Real-time)info | Yes | Yes | |
Watch List (Streaming)info | Yes | Yes | |
Watch Lists - Create & Manageinfo | Yes | Yes | |
Watch Lists - Column Customizationinfo | Yes | Yes |
Stock App Charting | Fidelity | Charles Schwab | |
---|---|---|---|
Charting - After-Hoursinfo | Yes | No | |
Charting - Can Turn Horizontallyinfo | Yes | Yes | |
Charting - Multiple Time Framesinfo | Yes | Yes | |
Charting - Technical Studiesinfo | 129 | 373 | |
Charting - Study Customizationsinfo | Yes | Yes | |
Charting - Stock Comparisonsinfo | Yes | Yes |
Trading Platforms | Fidelity | Charles Schwab | |
---|---|---|---|
Active Trading Platforminfo | Active Trader Pro | thinkorswim info | |
Desktop Trading Platforminfo | Yes | Yes | |
Desktop Platform (Mac)info | Yes | No | |
Web Trading Platforminfo | Yes | Yes | |
Paper Tradinginfo | No | No | |
Trade Journalinfo | Yes | Yes | |
Watch Lists - Total Fieldsinfo | 92 | 580 |
Stock Chart Features | Fidelity | Charles Schwab | |
---|---|---|---|
Charting - Adjust Trades on Chartinfo | Yes | Yes | |
Charting - Indicators / Studiesinfo | 129 | 374 | |
Charting - Drawing Toolsinfo | 38 | 24 | |
Charting - Notesinfo | Yes | Yes | |
Charting - Index Overlaysinfo | Yes | Yes | |
Charting - Historical Tradesinfo | Yes | Yes | |
Charting - Corporate Eventsinfo | Yes | Yes | |
Charting - Custom Date Rangeinfo | Yes | Yes | |
Charting - Custom Time Barsinfo | Yes | Yes | |
Charting - Automated Analysisinfo | Yes | Yes | |
Charting - Save Profilesinfo | Yes | Yes | |
Trade Ideas - Technical Analysisinfo | Yes | Yes | |
Charting - Study Customizationsinfo | 5 | 35 | |
Charting - Custom Studiesinfo | No | Yes |
Day Trading | Fidelity | Charles Schwab | |
---|---|---|---|
Streaming Time & Salesinfo | Yes | Yes | |
Streaming TVinfo | Yes | Yes | |
Direct Market Routing - Stocksinfo | Yes | Yes | |
Ladder Tradinginfo | No | Yes | |
Trade Hot Keysinfo | Yes | Yes | |
Level 2 Quotes - Stocksinfo | Yes | Yes | |
Trade Ideas - Backtestinginfo | Yes | Yes | |
Trade Ideas - Backtesting Advinfo | No | Yes | |
Short Locatorinfo | Yes | Yes | |
Order Liquidity Rebatesinfo | No | No |
Research Overview | Fidelity | Charles Schwab | |
---|---|---|---|
Research - Stocksinfo | Yes | Yes | |
Research - ETFsinfo | Yes | Yes | |
Research - Mutual Fundsinfo | Yes | Yes | |
Research - Pink Sheets / OTCBBinfo | Yes | Yes | |
Research - Bondsinfo | Yes | Yes | |
Screener - Stocksinfo | Yes | Yes | |
Screener - ETFsinfo | Yes | Yes | |
Screener - Mutual Fundsinfo | Yes | Yes | |
Screener - Bondsinfo | Yes | Yes | |
Misc - Portfolio Allocationinfo | Yes | Yes |
Stock Research | Fidelity | Charles Schwab | |
---|---|---|---|
Stock Research - PDF Reportsinfo | 11 | 7 | |
Stock Research - Earningsinfo | Yes | Yes | |
Stock Research - Insidersinfo | Yes | Yes | |
Stock Research - Socialinfo | Yes | Yes | |
Stock Research - Newsinfo | Yes | Yes | |
Stock Research - ESGinfo | Yes | Yes | |
Stock Research - SEC Filingsinfo | Yes | Yes |
ETF Research | Fidelity | Charles Schwab | |
---|---|---|---|
ETFs - Strategy Overviewinfo | Yes | Yes | |
ETF Fund Facts - Inception Dateinfo | Yes | Yes | |
ETF Fund Facts - Expense Ratioinfo | Yes | Yes | |
ETF Fund Facts - Net Assetsinfo | Yes | Yes | |
ETF Fund Facts - Total Holdingsinfo | Yes | Yes | |
ETFs - Top 10 Holdingsinfo | Yes | Yes | |
ETFs - Sector Exposureinfo | Yes | Yes | |
ETFs - Risk Analysisinfo | Yes | Yes | |
ETFs - Ratingsinfo | Yes | Yes | |
ETFs - Morningstar StyleMapinfo | Yes | Yes | |
ETFs - PDF Reportsinfo | Yes | Yes |
Mutual Fund Research | Fidelity | Charles Schwab | |
---|---|---|---|
Mutual Funds - Strategy Overviewinfo | Yes | Yes | |
Mutual Funds - Performance Chartinfo | Yes | Yes | |
Mutual Funds - Performance Analysisinfo | Yes | Yes | |
Mutual Funds - Prospectusinfo | Yes | Yes | |
Mutual Funds - 3rd Party Ratingsinfo | Yes | Yes | |
Mutual Funds - Fees Breakdowninfo | Yes | Yes | |
Mutual Funds - Top 10 Holdingsinfo | Yes | Yes | |
Mutual Funds - Asset Allocationinfo | Yes | Yes | |
Mutual Funds - Sector Allocationinfo | Yes | Yes | |
Mutual Funds - Country Allocationinfo | Yes | Yes | |
Mutual Funds - StyleMapinfo | Yes | Yes |
Options Trading | Fidelity | Charles Schwab | |
---|---|---|---|
Option Chains - Basic Viewinfo | Yes | Yes | |
Option Chains - Strategy Viewinfo | Yes | Yes | |
Option Chains - Streaminginfo | Yes | Yes | |
Option Chains - Total Columnsinfo | 26 | 31 | |
Option Chains - Greeksinfo | 5 | 5 | |
Option Chains - Quick Analysisinfo | Yes | Yes | |
Option Analysis - P&L Chartsinfo | Yes | Yes | |
Option Probability Analysisinfo | Yes | Yes | |
Option Probability Analysis Advinfo | Yes | Yes | |
Option Positions - Greeksinfo | Yes | Yes | |
Option Positions - Greeks Streaminginfo | Yes | Yes | |
Option Positions - Adv Analysisinfo | Yes | Yes | |
Option Positions - Rollinginfo | Yes | Yes | |
Option Positions - Groupinginfo | Yes | Yes |
Banking | Fidelity | Charles Schwab | |
---|---|---|---|
Bank (Member FDIC)info | No | Yes | |
Checking Accountsinfo | No | Yes | |
Savings Accountsinfo | No | Yes | |
Credit Cardsinfo | Yes | Yes | |
Debit Cardsinfo | Yes | Yes | |
Mortgage Loansinfo | No | Yes |
Customer Service | Fidelity | Charles Schwab | |
---|---|---|---|
Phone Support (Prospect Customers)info | Yes | Yes | |
Phone Support (Current Customers)info | Yes | Yes | |
Email Supportinfo | Yes | Yes | |
Live Chat (Prospect Customers)info | Yes | No | |
Live Chat (Current Customers)info | Yes | Yes | |
24/7 Supportinfo | Yes | Yes |
Overall | Fidelity | Charles Schwab | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Fidelity Review | Charles Schwab Review |
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Fidelity vs Charles Schwab Comparison
Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.
Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Fidelity vs Charles Schwab.
Is Fidelity or Charles Schwab better for beginners?
In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.
For 2024, our review finds that Fidelity offers more comprehensive new investor education for beginning investors than Charles Schwab. Both Fidelity and Charles Schwab offer Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement). Neither have Paper Trading.
What about Fidelity vs Charles Schwab pricing?
Fidelity and Charles Schwab charge the same amount for regular stock trades, $0.00. Fidelity and Charles Schwab both charge $0.65 per option contract. For futures, Charles Schwab charges $2.25 per contract and Fidelity charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides.
Does Fidelity or Charles Schwab offer a wider range of investment options?
Looking at a full range of investment options, including order types and international trading, our research has found that Charles Schwab offers a more comprehensive offering than Fidelity. Fidelity ranks #3 out of 18 brokers for our Investment Options category, while Charles Schwab ranks #2.
Fidelity offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services. Looking at Mutual Funds, Fidelity trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 6085 and Fidelity offering 3401.
Do Fidelity and Charles Schwab offer cryptocurrency?
In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that Fidelity offers crypto trading, while Charles Schwab does not.
Which trading platform is better: Fidelity or Charles Schwab?
To compare the day trading platforms of Fidelity and Charles Schwab, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Charles Schwab offers a better experience.
Does Fidelity or Charles Schwab offer a better stock trading app?
After testing 25 features across the stock trading apps of Fidelity and Charles Schwab, we found Fidelity to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Fidelity ranks #3 out of 18 brokers, while Charles Schwab ranks #4.
Fidelity Trading App Gallery
Charles Schwab Trading App Gallery
Which broker is better for researching stocks?
For research, Charles Schwab offers superior market research than Fidelity. Fidelity ranks #5 and Charles Schwab ranks #1.
Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.
How do Fidelity and Charles Schwab compare in terms of minimum deposit required?
Fidelity requires a minimum deposit of $0.00, while Charles Schwab requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.
Which broker offers better margin rates for accounts under $25,000?
Fidelity charges 13.575% for accounts under $25,000 while Charles Schwab charges a margin rate of 13.575%. The industry average of the 18 brokers we track is 9%.
Does Fidelity offer fractional shares? Does Charles Schwab?
Fidelity and Charles Schwab allow traders to trade fractional shares. Our research has found that 54% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.
Can you trade penny stocks with Fidelity or Charles Schwab?
Both Fidelity and Charles Schwab allow you to trade penny stocks. Fidelity charges $0.00 per trade while Charles Schwab charges $6.95. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Debit Cards and Credit Cards are offered by Fidelity, while Charles Schwab offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Which broker offers stronger customer service?
StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.
Fidelity was rated 1st out of 13 brokers, with an overall score of 9.31 out of 10.
Charles Schwab was rated 3rd out of 13 brokers, with an overall score of 9.1 out of 10.
Is Fidelity good?
Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.
In the 2024 StockBrokers.com Annual Awards, Fidelity was rated No. 1 Broker Overall and No. 1 for Innovation, Phone Support, Beginners, Commissions & Fees, IRA Accounts, Penny Stock Trading, Customer Service, and Education. It also placed among Best in Class for Commissions & Fees, Research, Platforms & Tools, Mobile Trading Apps, Investment Options, Education, Ease of Use, Day Trading, and High Net Worth Investors.
Is Charles Schwab good?
With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.
In the 2024 StockBrokers.com Annual Awards, Charles Schwab was ranked No. 1 for Research, High Net Worth Investors, Bond Research, Desktop Stock Trading Platform, and Trader App. It was among Best in Class for Commissions & Fees, Platforms & Tools, Mobile Trading Apps, Investment Options, Education, Ease of Use, Day Trading, Beginners, Customer Service, Futures Trading, Options Trading, Penny Stock Trading, IRA Accounts and Overall.
Fidelity vs Charles Schwab Winner
Overall winner: Fidelity
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