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Fidelity vs Charles Schwab 2020

Is Charles Schwab better than Fidelity? After testing 15 of the best online brokers over five months, Fidelity (95%) is better than Charles Schwab (93.11%). 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. Serving over 30 million customers, Fidelity is a winner for everyday investors.

Trade Commission-Free No commissions to trade online U.S. stocks, ETFs, and options.1 Open Account
Special Offer $0 online stock, ETF, and options commissions at Schwab. Open Account
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Overall Rating

Trading Fees

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 4.5 4.5
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Margin Rates

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

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
Commission-Free ETFs all all
Mutual Funds (No Load)
3957 7291
Mutual Funds (Total)
11246 9978
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
Yes No
Advisor Services
Yes Yes
International Trading
Yes Yes
Offering of Investments 4.5 4.5
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Order Types

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 4.5 4.5
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Trading Platforms

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
91 125
Heat Mapping
Yes Yes
AI Assistant Bot
Yes No
Platforms & Tools 4.5 4.5
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Charting Features

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 7
Charting - Custom Studies
No No
Platforms & Tools 4.5 4.5
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Day Trading

Feature Fidelity Charles Schwab
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
No 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
No Yes
Short Locator
Yes No
Order Liquidity Rebates
No No
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Mobile 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 - 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
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Mobile App Features

Feature Fidelity Charles Schwab
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
Yes Yes
Heatmapping
Yes Yes
Stream Live TV
Yes Yes
Barcode Lookup
No No
Mobile Trading 5 4
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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 - 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
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Stock Research

Feature Fidelity Charles Schwab
Stock Research - Reports
16 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 5 5
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ETF Research

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 5 5
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Mutual Fund Research

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 5 5
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Options Trading

Feature Fidelity Charles Schwab
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
26 44
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
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Beginners

Feature Fidelity Charles Schwab
Education (Stocks)
Yes Yes
Education (ETFs)
Yes Yes
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes Yes
Education (Fixed Income)
Yes Yes
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 5 4.5
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Banking

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 4 4.5
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Overall

Feature Fidelity Charles Schwab
Fidelity Review Charles Schwab Review
Overall 5 4.5
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 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 (Fixed Income) and Education (Retirement).

What about Charles Schwab vs Fidelity pricing?
Charles Schwab and Fidelity have equal fees for trading stocks (equities), $0 per trade. 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. 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, Charles Schwab trails Fidelity by 1,268 total mutual funds, with Fidelity offering 11246 and Charles Schwab offering 9978.

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, Fidelity 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, between Charles Schwab and Fidelity, Fidelity is the better online broker.

Charles Schwab Review
Fidelity Review



All pricing data was obtained from a published web site as of 01/20/2020 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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