Fidelity Investments vs Charles Schwab Review
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Charles Schwab better than Fidelity Investments? After scoring brokers on over 4,000 data points for our 2019 review, Fidelity Investments (86.62%) is better than Charles Schwab (84.06%). From industry-leading research to excellent trading tools, mobile apps, and retirement services, Fidelity defines “value” and provides investors with everything they need to succeed, and more.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Charles Schwab and Fidelity Investments both cost $4.95 per trade. Looking at options, the base fees charged are the same for both brokers, $4.95. Option contracts cost $0.65 each at both brokerages. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Fidelity Investments provides its clients with Stock Trading, Options Trading and Mutual Funds while Charles Schwab provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Fidelity Investments offers its clients access to 11782 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,936.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither Charles Schwab and Fidelity Investments offer virtual trading. Taking a look at mobile trading, Charles Schwab and Fidelity Investments both have a iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards at Fidelity Investments while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Charles Schwab and Fidelity Investments, Fidelity Investments is the winner.
Charles Schwab Review
Fidelity Investments Review
All pricing data was obtained from a published web site as of 02/18/2019 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.