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? After scoring brokers on over 4,000 data points for our 2019 review, Fidelity (86.62%) is better than Charles Schwab (84.06%).
|
|
|
|
Special Offer
$0 online stock, ETF, and options commissions at Schwab. Open Account
|
||
| Open Account |
| Feature | Fidelity | Charles Schwab |
| Overall | ||
| Fidelity Review | Charles Schwab Review |
| Feature | Fidelity | Charles Schwab |
| 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 | $32.95 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature | Fidelity |
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 |
| 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 |
| Feature | Fidelity | Charles Schwab |
|
Stock Trading |
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 |
| Commission-Free ETFs | all | all |
|
Mutual Funds (No Load) |
4031 | 5846 |
|
Mutual Funds (Total) |
11782 | 5846 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
Yes | Yes |
|
International Trading |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
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 | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
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 |
91 | 108 |
|
Two-Factor Authentication Login |
Yes | Yes |
|
Heat Mapping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Charting - Trade Off Chart |
Yes | Yes |
|
Charting - Indicators / Studies |
166 | 41 |
|
Charting - Drawing Tools |
22 | 15 |
|
Charting - Historical Trades |
Yes | No |
|
Charting - Corporate Events |
Yes | Yes |
|
Charting - Automated Analysis |
Yes | Yes |
|
Charting - Save Profiles |
Yes | Yes |
|
Charting - Study Customizations |
5 | 6 |
|
Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Stock Alerts - Basic Fields |
Yes | Yes |
|
Stock Alerts - Advanced Fields |
Yes | Yes |
|
Streaming Time & Sales |
Yes | Yes |
|
Streaming TV |
Yes | Yes |
|
Direct Market Routing - Stocks |
Yes | Yes |
|
Direct Market Routing - Options |
Yes | No |
|
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 | Yes |
|
Short Locator |
Yes | No |
|
Client Liquidity Rebates |
No | No |
| Winner | check_circle |
| 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 - 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 |
| Feature | Fidelity | Charles Schwab |
|
Watch List Syncing |
Yes | Yes |
|
Stock Alerts - Basic Fields |
Yes | No |
|
Charting - After Hours |
Yes | No |
|
Charting - Drawing |
No | No |
|
Charting - Study Customizations |
Yes | Yes |
|
Customizable Homescreen |
Yes | No |
|
Heatmapping |
Yes | Yes |
|
Stream Live TV |
Yes | Yes |
|
Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
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 | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Stock Research - Reports |
12 | 8 |
|
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 |
Yes | No |
| Research | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
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 | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Mutual Funds - Strategy Overview |
Yes | Yes |
|
Mutual Funds - Prospectus |
Yes | Yes |
|
Mutual Funds - 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 |
| Research | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Option Chains - Streaming |
Yes | Yes |
|
Option Chains - Total Columns |
26 | 41 |
|
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 | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
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) |
8 | 50 |
|
Webinars (Archived) |
Yes | Yes |
|
Live Seminars |
Yes | Yes |
|
Progress Tracking |
Yes | No |
|
Interactive Learning - Quizzes |
Yes | No |
|
Investor Magazine |
Yes | Yes |
| Education | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
|
Retail Locations |
197 | 357 |
|
Member FDIC |
No | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
Yes | Yes |
|
Credit Cards |
Yes | Yes |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
No | Yes |
|
No Fee Banking |
Yes | Yes |
| Banking | ||
| Winner | check_circle |
| Feature | Fidelity | Charles Schwab |
| Fidelity Review | Charles Schwab Review | |
| Overall | ||
| Winner | check_circle |
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.
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 both cost $0 per trade. With options, the base fee is $0 for both Charles Schwab and Fidelity. Option contracts run $0.65 a piece 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 offers clients Stock Trading, Options Trading and Mutual Funds while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Charles Schwab trails Fidelity by 5,936 total mutual funds, with Fidelity offering 11782 and Charles Schwab offering 5846.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither Charles Schwab and Fidelity offer virtual trading. Taking a look at mobile trading, Both Charles Schwab and Fidelity offer clients access to an 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 while customers at Charles Schwab can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Charles Schwab and Fidelity, Fidelity is the winner.
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.
