Fidelity vs. Schwab: 2024 Comparison

Fidelity and Schwab are both solid, well-rounded brokers that cater to all investors. Here's our side-by-side comparison.
Arielle O'Shea
By Arielle O'Shea 
Updated

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

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
NerdWallet rating 

on Fidelity's website

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

$0.65 per contract.

Account fees (annual, transfer, closing, inactivity)

None.

Interest rate on uninvested cash

4.97%.

Number of no-transaction-fee mutual funds

More than 3,300 no-transaction-fee mutual funds.

Tradable securities

• Stocks. • Corporate, municipal and government bonds. • Mutual funds. • ETFs. • Fractional shares. • Options. • FOREX. • Precious metals. • 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.

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 transfer out of assets.

Interest rate on uninvested cash

0.45%.

Number of no-transaction-fee mutual funds

More than 8,000 no-transaction-fee mutual funds.

Tradable securities

  • Stocks.

  • Bonds.

  • Fractional shares

  • Mutual funds.

  • ETFs.

  • Options.

  • Futures.

Trading platform

Four platforms offered with no trade minimums or fees.

Mobile app

Three mobile apps: Schwab Mobile, thinkorswim and StreetSmart Mobile.

Research and data

Research from providers including, Morningstar, Argus, and S&P, 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.

Want to compare more brokers? View our full list of the best online brokers.

Methodology

How do we review brokers?

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.