Is Charles Schwab better than Fidelity? After testing 15 of the best online brokers over five months, Fidelity (95%) is better than Charles Schwab (93.11%). Fidelity is a value-driven online broker offering $0 stock trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 30 million customers, Fidelity is a winner for everyday investors.
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Fidelity vs Charles Schwab 2020
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Trade Commission-Free
No commissions to trade online U.S. stocks, ETFs, and options.1 Open Account
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Special Offer
$0 online stock, ETF, and options commissions at Schwab. Open Account
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| Open Account | Open Account |
Overall Rating
| Feature | Fidelity | Charles Schwab |
| Overall | ||
| Fidelity Review | Charles Schwab Review |
Trading Fees
| Feature | Fidelity | Charles Schwab |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Options Base Fee | $0.00 | $0.00 |
| Options Per Contract Fee | $0.65 | $0.65 |
| Mutual Fund Trade Fee | $49.95 | $49.95 |
| Broker Assisted Trades Fee | $32.95 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Fidelity | Charles Schwab |
| Under $24,999.99 | 9.33% | 9.33% |
| $25,000.00 to $49,999.99 | 8.83% | 8.83% |
| $50,000.00 to $99,999.99 | 7.88% | 7.88% |
| $100,000.00 to $249,999.99 | 7.83% | 7.83% |
| $250,000.00 to $499,999.99 | 7.58% | 7.58% |
| $500,000.00 to $999,999.99 | 5.25% | 6.08% |
| Above $1,000,000.00 | 5.00% | 5.75% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | Fidelity | Charles Schwab |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $50.00 |
| Returned ACH Fee | $0.00 | $25.00 |
| Returned Wire Fee | $0.00 | $25.00 |
| Stock Certificate Processing Fee | $0.00 | $100.00 |
| Stock Certificate Delivery Fee | $100.00 | N/A |
| Paper Statement Fee | $0.00 | $0.00 |
| Paper Confirmation Fee | $0.00 | $0.00 |
| Domestic Wire Fee | $0.00 | $25.00 |
| International Wire Fee | $0.00 | $25.00 |
| Commissions & Fees |
Investment Options
| Feature | Fidelity | Charles Schwab |
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Stock Trading |
Yes | Yes |
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Fractional Shares |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
No | Yes |
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Forex Trading |
No | No |
| Commission-Free ETFs | all | all |
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Mutual Funds (No Load) |
3957 | 7291 |
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Mutual Funds (Total) |
11246 | 9978 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Interest Sharing |
Yes | No |
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Advisor Services |
Yes | Yes |
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International Trading |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Fidelity | Charles Schwab |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
Yes | Yes |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Fidelity | Charles Schwab |
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Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
No | No |
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Trade Journal |
Yes | Yes |
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Watch Lists - Total Fields |
91 | 125 |
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Heat Mapping |
Yes | Yes |
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AI Assistant Bot |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Fidelity | Charles Schwab |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
166 | 41 |
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Charting - Drawing Tools |
22 | 15 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
Yes | Yes |
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Charting - Automated Analysis |
Yes | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
5 | 7 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Fidelity | Charles Schwab |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | Yes |
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Streaming Time & Sales |
No | Yes |
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Streaming TV |
Yes | Yes |
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Direct Market Routing - Stocks |
Yes | Yes |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
No | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
No | Yes |
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Short Locator |
Yes | No |
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Order Liquidity Rebates |
No | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Fidelity | Charles Schwab |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | Yes |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
Yes | Yes |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | Fidelity | Charles Schwab |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts |
Yes | No |
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Charting - After Hours |
Yes | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
Yes | Yes |
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Heatmapping |
Yes | Yes |
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Stream Live TV |
Yes | Yes |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Fidelity | Charles Schwab |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
Yes | Yes |
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Screener - Stocks |
Yes | Yes |
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Screener - ETFs |
Yes | Yes |
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Screener - Mutual Funds |
Yes | Yes |
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Screener - Options |
Yes | Yes |
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Screener - Bonds |
Yes | Yes |
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Misc - Portfolio Builder |
Yes | Yes |
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Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Fidelity | Charles Schwab |
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Stock Research - Reports |
16 | 8 |
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Stock Research - Earnings |
Yes | Yes |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
Yes | Yes |
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Stock Research - SEC Filings |
Yes | Yes |
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Stock Research - Social |
Yes | Yes |
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Stock Research - Balance Sheet |
Yes | Yes |
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Stock Research - Cash Flows |
Yes | Yes |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
Yes | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Fidelity | Charles Schwab |
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ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | Yes |
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ETFs - Sector Exposure |
Yes | Yes |
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ETFs - Risk Analysis |
Yes | Yes |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | Yes |
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ETFs - Morningstar StyleMap |
Yes | Yes |
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ETFs - Reports |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Fidelity | Charles Schwab |
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Mutual Funds - Strategy Overview |
Yes | Yes |
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Mutual Funds - Prospectus |
Yes | Yes |
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Mutual Funds - Reports |
No | Yes |
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Mutual Funds - Fees Breakdown |
Yes | Yes |
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Mutual Funds - Top 10 Holdings |
Yes | Yes |
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Mutual Funds - Asset Allocation |
Yes | Yes |
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Mutual Funds - Sector Allocation |
Yes | Yes |
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Mutual Funds - Country Allocation |
Yes | Yes |
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Mutual Funds - StyleMap |
Yes | Yes |
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Mutual Funds - 3rd Party Ratings |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Fidelity | Charles Schwab |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
26 | 44 |
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Option Chains - Greeks |
5 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | Yes |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | Yes |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | Fidelity | Charles Schwab |
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Education (Stocks) |
Yes | Yes |
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Education (ETFs) |
Yes | Yes |
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Education (Options) |
Yes | Yes |
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Education (Mutual Funds) |
Yes | Yes |
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Education (Fixed Income) |
Yes | Yes |
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Education (Retirement) |
Yes | Yes |
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Paper Trading |
No | No |
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Videos |
Yes | Yes |
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Webinars (Monthly Avg) |
8 | 50 |
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Webinars (Archived) |
Yes | Yes |
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Live Seminars |
Yes | Yes |
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Progress Tracking |
Yes | No |
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Interactive Learning - Quizzes |
Yes | No |
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Investor Magazine |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Fidelity | Charles Schwab |
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Retail Locations |
197 | 357 |
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Member FDIC |
No | Yes |
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Checking Accounts |
Yes | Yes |
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Savings Accounts |
Yes | Yes |
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Credit Cards |
Yes | Yes |
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Debit Cards |
Yes | Yes |
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Mortgage Loans |
No | Yes |
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No Fee Banking |
Yes | Yes |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Fidelity | Charles Schwab |
| Fidelity Review | Charles Schwab Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Charles Schwab vs Fidelity.
Is Charles Schwab or Fidelity better for beginners?
Fidelity is better for beginner investors than Charles Schwab. Fidelity offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).
What about Charles Schwab vs Fidelity pricing?
Charles Schwab and Fidelity have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts at both of the brokerages are the same at $0.65 each. For a complete commissions summary, see our best discount brokers guide.
Does Charles Schwab or Fidelity offer a wider range of investment options?
Charles Schwab offers a more diverse selection of investment options than Fidelity. Charles Schwab offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Advisor Services and International Trading. Looking at Mutual Funds, Charles Schwab trails Fidelity by 1,268 total mutual funds, with Fidelity offering 11246 and Charles Schwab offering 9978.
Which trading platform is better: Charles Schwab or Fidelity?
To compare the trading platforms of both Charles Schwab and Fidelity, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Fidelity offers superior market research. Finally, we found Fidelity to provide better mobile trading apps.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are available to clients of Fidelity while Charles Schwab offers customers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Charles Schwab and Fidelity, Fidelity is the better online broker.
All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
1$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody Solutions® are subject to different commission schedules.
Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
