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Charles Schwab vs Fidelity 2020

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%).

fideltiy

Best research experience
With over $2 trillion in client assets, 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. Overall, Fidelity is a winner for everyday investors. Read full review

Charles Schwab

Best for IRA accounts - Open Account
Special Offer: $0 online stock, ETF, and options commissions at Schwab.

Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $0 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future. Read full review

Overall Rating

Feature Charles Schwab Fidelity
Overall 4 4.5
Charles Schwab Review Fidelity Review

Trading Fees

Feature Charles Schwab Fidelity
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 $25.00 $32.95
Commissions & Fees 4.5 4.5
Winner check_circle

Margin Rates

Feature Charles Schwab Fidelity
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 6.08% 5.25%
Above $1,000,000.00 5.75% 5.00%
Commissions & Fees 4.5 4.5
Winner check_circle

Account Fees

Feature Charles Schwab Fidelity
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $50.00 $0.00
Returned ACH Fee $25.00 $0.00
Returned Wire Fee $25.00 $0.00
Stock Certificate Processing Fee $100.00 $0.00
Stock Certificate Delivery Fee N/A $100.00
Paper Statement Fee $0.00 $0.00
Paper Confirmation Fee $0.00 $0.00
Domestic Wire Fee $25.00 $0.00
International Wire Fee $25.00 $0.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Charles Schwab Fidelity
Stock Trading
Yes Yes
Fractional Shares
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
7291 3957
Mutual Funds (Total)
9978 11246
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
Yes Yes
Offering of Investments 4.5 4.5
Winner check_circle

Order Types

Feature Charles Schwab Fidelity
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes Yes
Offering of Investments 4.5 4.5
Winner check_circle

Trading Platforms

Feature Charles Schwab Fidelity
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
Yes Yes
Watch Lists - Total Fields
125 91
Heat Mapping
Yes Yes
Platforms & Tools 4.5 4.5
Winner check_circle

Charting Features

Feature Charles Schwab Fidelity
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
41 166
Charting - Drawing Tools
15 22
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
7 5
Charting - Custom Studies
No No
Platforms & Tools 4.5 4.5
Winner check_circle

Day Trading

Feature Charles Schwab Fidelity
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes No
Streaming TV
Yes Yes
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Order Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Charles Schwab Fidelity
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Charles Schwab Fidelity
Watch List Syncing
Yes Yes
Stock Alerts
No Yes
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes Yes
Heatmapping
Yes Yes
Stream Live TV
Yes Yes
Barcode Lookup
No No
Mobile Trading 4 4.5
Winner check_circle

Research Overview

Feature Charles Schwab Fidelity
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Screener - Stocks
Yes Yes
Screener - ETFs
Yes Yes
Screener - Mutual Funds
Yes Yes
Screener - Options
Yes Yes
Screener - Bonds
Yes Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes Yes
Research 5 5
Winner check_circle

Stock Research

Feature Charles Schwab Fidelity
Stock Research - Reports
8 14
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes Yes
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes Yes
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 5 5
Winner check_circle

ETF Research

Feature Charles Schwab Fidelity
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes Yes
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes Yes
ETFs - Reports
Yes Yes
Research 5 5
Winner check_circle

Mutual Fund Research

Feature Charles Schwab Fidelity
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes Yes
Mutual Funds - Top 10 Holdings
Yes Yes
Mutual Funds - Asset Allocation
Yes Yes
Mutual Funds - Sector Allocation
Yes Yes
Mutual Funds - Country Allocation
Yes Yes
Mutual Funds - StyleMap
Yes Yes
Mutual Funds - 3rd Party Ratings
Yes Yes
Research 5 5
Winner check_circle

Options Trading

Feature Charles Schwab Fidelity
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
44 26
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 4.5
Winner check_circle

Beginners

Feature Charles Schwab Fidelity
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes Yes
Has Education - Fixed Income
Yes Yes
Has Education - Retirement
Yes Yes
Paper Trading
No No
Videos
Yes Yes
Webinars (Monthly Avg)
50 8
Webinars (Archived)
Yes Yes
Live Seminars
Yes Yes
Progress Tracking
No Yes
Interactive Learning - Quizzes
No Yes
Investor Magazine
Yes Yes
Education 4.5 5
Winner check_circle

Banking

Feature Charles Schwab Fidelity
Retail Locations
357 197
Member FDIC
Yes No
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
Yes No
No Fee Banking
Yes Yes
Banking 4.5 4
Winner check_circle

Overall

Feature Charles Schwab Fidelity
Charles Schwab Review Fidelity Review
Overall 4 4.5
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 charge the same amount for regular stock trades, $0. 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. 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 supports Stock Trading, Options Trading and Mutual Funds while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Fidelity offers its clients access to 11246 different mutual funds while Charles Schwab has 9978 available funds, a difference of 1,268.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither Charles Schwab and Fidelity offer virtual trading. For mobile trading, Both Charles Schwab and Fidelity offer clients access to an 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 01/14/2020 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 SolutionsĀ® 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.

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