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Fidelity vs Charles Schwab 2021

Is Charles Schwab better than Fidelity? After testing 11 of the best online brokers over three months, Fidelity (99.36%) is better than Charles Schwab (95.87%). Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 32 million customers, Fidelity is a winner for everyday investors.


SPECIAL OFFER No commissions to trade online U.S. stocks, ETFs, and options.1
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Overall Rating

Feature Fidelity Charles Schwab
Overall 5 5
Commissions & Fees 5 4.5
Offering of Investments 4.5 5
Platforms & Tools 4.5 4.5
Mobile Trading Apps 5 4
Research 5 5
Education 5 4.5
Ease of Use 5 5
Fidelity Review Charles Schwab Review
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Trading Fees

Feature Fidelity Charles Schwab
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $49.95 $49.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) N/A $2.25
Broker Assisted Trade Fee $32.95 $25.00

Margin Rates

Feature Fidelity Charles Schwab
Under $24,999.99 8.33% 8.33%
$25,000.00 to $49,999.99 7.83% 7.83%
$50,000.00 to $99,999.99 6.88% 6.88%
$100,000.00 to $249,999.99 6.83% 6.83%
$250,000.00 to $499,999.99 6.58% 6.58%
$500,000.00 to $999,999.99 4.25% 5.08%
Above $1,000,000.00 4.00% 4.75%

Account Fees

Feature Fidelity Charles Schwab
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial)
$0.00 $25.00
Account Transfer Out (Full)
$0.00 $50.00

Investment Options

Feature Fidelity Charles Schwab
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
No Yes
Forex Trading
No No
Crypto Trading
No No
Crypto Trading - Total Coins
0 0
Mutual Funds (No Load)
5768 7537
Mutual Funds (Total)
9615 10228
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
Yes Yes

Order Types

Feature Fidelity Charles Schwab
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - After-Hours
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - Broker Assisted
Yes Yes

Beginners

Feature Fidelity Charles Schwab
Education (Stocks)
Yes Yes
Education (ETFs)
Yes Yes
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes Yes
Education (Bonds)
Yes Yes
Education (Retirement)
Yes Yes
Retirement Calculator
Yes Yes
Investor Dictionary
Yes Yes
Paper Trading
No No
Videos
Yes Yes
Webinars (Monthly Avg)
115 100
Webinars (Archived)
Yes Yes
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No

Stock Trading Apps

Feature Fidelity Charles Schwab
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Order Ticket RT Quotes
Yes Yes
Order Ticket SRT Quotes
Yes No

Stock App Features

Feature Fidelity Charles Schwab
Market Movers (Top Gainers)
Yes Yes
Stream Live TV
Yes Yes
Videos on Demand
Yes Yes
Stock Alerts
Yes No
Option Chains Viewable
Yes Yes
Watch List (Real-time)
Yes Yes
Watch List (Streaming)
Yes No
Watch Lists - Create & Manage
Yes Yes
Watch Lists - Column Customization
Yes No
Watch List - Column Filtering
Yes No

Stock App Charting

Feature Fidelity Charles Schwab
Charting - After-Hours
Yes No
Charting - Can Turn Horizontally
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Technical Studies
7 32
Charting - Study Customizations
Yes Yes
Charting - Stock Comparisons
Yes Yes

Trading Platforms

Feature Fidelity Charles Schwab
Desktop Trading Platform
Yes Yes
Web Trading Platform
Yes Yes
Paper Trading
No No
Trade Journal
Yes Yes
Watch Lists - Total Fields
91 130

Stock Chart Features

Feature Fidelity Charles Schwab
Charting - Adjust Trades on Chart
Yes Yes
Charting - Indicators / Studies
129 41
Charting - Drawing Tools
22 15
Charting - Notes
Yes Yes
Charting - Index Overlays
Yes Yes
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes Yes
Charting - Custom Date Range
Yes Yes
Charting - Custom Time Bars
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Trade Ideas - Technical Analysis
Yes Yes
Charting - Study Customizations
5 7
Charting - Custom Studies
No No

Day Trading

Feature Fidelity Charles Schwab
Streaming Time & Sales
No Yes
Streaming TV
Yes Yes
Direct Market Routing - Stocks
Yes Yes
Ladder Trading
No No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Trade Ideas - Backtesting
Yes Yes
Trade Ideas - Backtesting Adv
No No
Short Locator
Yes Yes
Order Liquidity Rebates
No No

Research Overview

Feature Fidelity Charles Schwab
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Bonds
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

Stock Research

Feature Fidelity Charles Schwab
Stock Research - PDF Reports
11 8
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
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
Yes No

ETF Research

Feature Fidelity Charles Schwab
ETFs - Strategy Overview
Yes Yes
ETF Fund Facts - Inception Date
Yes Yes
ETF Fund Facts - Expense Ratio
Yes Yes
ETF Fund Facts - Net Assets
Yes Yes
ETF Fund Facts - Total Holdings
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Sector Exposure
Yes Yes
ETFs - Risk Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes Yes
ETFs - PDF Reports
Yes Yes

Mutual Fund Research

Feature Fidelity Charles Schwab
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Performance Chart
Yes Yes
Mutual Funds - Performance Analysis
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - PDF Reports
No Yes
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

Options Trading

Feature Fidelity Charles Schwab
Option Chains - Basic View
Yes Yes
Option Chains - Strategy View
Yes Yes
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
26 44
Option Chains - Greeks
5 5
Option Positions - Greeks Streaming
Yes Yes
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

Banking

Feature Fidelity Charles Schwab
Bank (Member FDIC)
No Yes
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
No Yes

Customer Service

Feature Fidelity Charles Schwab
Phone Support (Prospect Customers)
Yes Yes
Phone Support (Current Customers)
Yes Yes
Email Support
Yes Yes
Live Chat (Prospect Customers)
Yes No
Live Chat (Current Customers)
Yes Yes
24/7 Support
Yes Yes

Overall

Feature Fidelity Charles Schwab
Overall 5 5
Commissions & Fees 5 4.5
Offering of Investments 4.5 5
Platforms & Tools 4.5 4.5
Mobile Trading Apps 5 4
Research 5 5
Education 5 4.5
Ease of Use 5 5
Fidelity Review Charles Schwab Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 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 (Bonds) and Education (Retirement).

What about Charles Schwab vs Fidelity pricing?
Charles Schwab and Fidelity have equal fees for trading stocks (equities), $0 per trade. For options trading, both Charles Schwab and Fidelity charge the same base fee of $0. Option contracts run $0.65 a piece at both brokerages. 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, Fidelity trails Charles Schwab by 613 total mutual funds, with Charles Schwab offering 10228 and Fidelity offering 9615.

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, Charles Schwab 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 winner: Fidelity

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All pricing data was obtained from a published web site as of 01/19/2021 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 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. 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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