Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 4,000 data points, let's compare Charles Schwab vs Fidelity Investments.
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