Fidelity vs. Schwab: 2023 Comparison
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Fidelity and Charles Schwab often rise above the competition in our analysis of online brokers. Both offer something for every investor: There are powerful trading platforms for active traders, a large investment selection that includes thousands of no-transaction-fee mutual funds for retirement or passive investors, and libraries of educational resources for beginners.
But Fidelity edges ahead of Schwab slightly when it comes to its research and data offerings; and Fidelity also offers several index funds that charge no expense ratio, which is rare in the industry. Schwab, on the other hand, has a slightly larger investment selection, including more no-transaction-fee mutual funds and the ability to trade futures.
Here's our direct comparison of Fidelity and Schwab:
Fidelity is best for:
Frequent traders.
Beginner investors.
Research and data.
Retirement planning assistance.
Fidelity at a glance
Account minimum | $0. |
Stock trading costs | $0. |
Options trades | No base commission; $0.65 per contract. |
Account fees (annual, transfer, closing, inactivity) | None. |
Number of no-transaction-fee mutual funds | More than 3,300 no-transaction-fee mutual funds. |
Tradable securities | • Stocks. • Bonds. • Mutual funds. • ETFs. • Fractional shares. • Options. • FOREX. • Bitcoin and Ethereum. |
Trading platform | Fidelity.com and Active Trader Pro. Both free for all customers. |
Mobile app | Available for iOS and Android; advanced features. |
Research and data | Free and extensive. |
Customer support options (includes how easy it is to find key details on the website) | Phone, email and live chat 24/7; more than 200 local branches. |
» Read our full review of Fidelity
Charles Schwab is best for:
Beginner investors.
Advanced traders.
Investors seeking no-minimum index funds.
Investors who rely on premium research.
Charles Schwab at a glance
Account minimum | $0. |
Stock trading costs | $0. |
Options trades | No base commission; $0.65 per contract. |
Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fee; $50 for full or $25 for partial transfer out of assets. |
Number of no-transaction-fee mutual funds | Over 7,100 no-transaction-fee mutual funds. |
Tradable securities |
|
Trading platform | Three platforms offered with no trade minimums or fees: StreetSmart Edge (desktop platform), Schwab.com and StreetSmart Central. |
Mobile app | Two mobile apps with above-average capabilities: Schwab Mobile and StreetSmart Mobile. |
Research and data | Research from more than 20 providers including Moody's, Morningstar, Recognia, and Thompson Reuters, plus more in-house generated commentary and tools. |
Customer support options (includes how easy it is to find key details on the website) | Phone, email, chat 24/7, and in-person support available at branches Monday through Friday 8 a.m. to 5 p.m. Some branches have Saturday hours. |
» Read our full review of Charles Schwab
Want to compare more brokers? View our full list of the best online brokers.
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