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Fidelity vs Charles Schwab 2019
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 Fidelity better than Charles Schwab? After scoring brokers in nine separate categories for our 2019 review, Fidelity (86.62%) is better than Charles Schwab (84.06%). With over $2 trillion in client assets, Fidelity is a low-cost online broker offering $4.95 stock trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services for investors. Overall, Fidelity is a winner for investors.
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Exclusive Offer
Get 300 commission-free trades and 2 years to use them Open Account
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Special Offer
$4.95 online equity trades + $0.65 per options contract 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) | $4.95 | $4.95 |
| ETF Trade Fee | $4.95 | $4.95 |
| Options Base Fee | $4.95 | $4.95 |
| 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
Open Account |
Charles Schwab
Open Account |
| Under $24,999.99 | 9.58% | 9.58% |
| $25,000.00 to $49,999.99 | 9.08% | 9.08% |
| $50,000.00 to $99,999.99 | 8.13% | 8.13% |
| $100,000.00 to $249,999.99 | 8.08% | 8.08% |
| $250,000.00 to $499,999.99 | 7.83% | 7.83% |
| $500,000.00 to $999,999.99 | 5.50% | 6.58% |
| Above $1,000,000.00 | 5.25% | 6.25% |
| 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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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 | 500 | 503 |
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Mutual Funds (No Load) |
4031 | 5846 |
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Mutual Funds (Total) |
11782 | 5846 |
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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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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 | 108 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | Yes |
| 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 | 6 |
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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 |
Yes | 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 |
Yes | Yes |
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Short Locator |
Yes | No |
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Client 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 - Basic Fields |
Yes | No |
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Stock Alerts - Advanced Fields |
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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Customizable Homescreen |
Yes | No |
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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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Research - Futures |
Yes | Yes |
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Research - Forex |
No | No |
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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 |
12 | 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 | 41 |
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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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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | Yes |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | Yes |
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Has Education - Fixed Income |
Yes | Yes |
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Has 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 |
|
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 |
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Charles Schwab vs Fidelity to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Charles Schwab and Fidelity have equal fees for trading stocks (equities), $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. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. Fidelity offers clients Stock Trading, Options Trading and Mutual Funds while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Fidelity offers its clients access to 11782 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,936.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither broker offers virtual trading. For mobile trading, Charles Schwab along with Fidelity both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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 winner.
Charles Schwab Review
Fidelity Review
First, we will break down the commission charges of both brokers for placing stock and options trades. Charles Schwab and Fidelity have equal fees for trading stocks (equities), $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. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. Fidelity offers clients Stock Trading, Options Trading and Mutual Funds while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Fidelity offers its clients access to 11782 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,936.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither broker offers virtual trading. For mobile trading, Charles Schwab along with Fidelity both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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 winner.
Charles Schwab Review
Fidelity 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.
