Fidelity vs. Schwab: 2025 Comparison
Fidelity and Schwab are both solid, well-rounded brokers that cater to all investors. Here's our side-by-side comparison.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. 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. Fidelity also offers a high interest rate on uninvested cash. 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 exceptional in nearly every way: Low fees, excellent customer service, great educational content, tons of assets to invest in and an easy-to-use platform. Fidelity is a solid option for beginners and seasoned investors alike, and can help you grow your investing skillset as you gain experience. Plus, if you have a 401(k), it's not unlikely that it's offered through Fidelity, meaning you'll be able to see all your investments in one place.
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) | Annual fee: $0 Inactivity fee: $0 Closing fee: $0 |
Interest rate on uninvested cash | 3.97% |
Number of no-transaction-fee mutual funds | 3,220 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds and fixed income, precious metals, crypto |
Trading platform | Three: Fidelity.com, mobile app, Fidelity Trader+ |
Mobile app | Available for iOS and Android |
Research and data | Several data providers, including Argus, Zacks, CFRA and S&P Global |
Customer support options (includes how easy it is to find key details on the website) | 24/7. Hours vary by contact method, but you can get help via phone, email, chat, over social media or at a physical branch. |
IRA match | None |
» Read our full review of Fidelity
Charles Schwab is a great legacy broker that offers a large fund selection of funds, multiple trading platforms (including the legendary thinkorswim platform), 24/7 phone and chat support and extensive research. Schwab also offers an impressive list of IRAs including custodial and inherited accounts. Schwab gives new investors $50 to split across the top five stocks in the S&P 500 and highlights educational materials specifically for people who are just getting started. Unfortunately, Schwab does not offer an IRA match nor does it have an impressive interest rate on uninvested cash.
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 | $0.65 per contract |
Account fees (annual, inactivity, closing) | Annual fee: $0 Inactivity fee: $0 Closing fee: $0 |
Interest rate on uninvested cash | 0.05% |
Number of no-transaction-fee mutual funds | 7,774 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds, futures, futures options, forex |
Trading platform | Five: Schwab.com, Schwab Mobile and thinkorswim for web, desktop and mobile |
Mobile app | Available for iOS and Android |
Research and data | Over a dozen, including Morningstar, Refinitiv/LSEG, Argus, Vickers and Computrade/Market Edge |
Customer support options (includes how easy it is to find key details on the website) | 24/7 phone and chat support |
IRA match | None |
» Read our full review of Charles Schwab
Brokerage firms | |
|---|---|
Want to compare more brokers? View our full list of the best online brokers.
How do we review brokers?
All NerdWallet reviews and lists of the best investing products are created by our editorial team of full-time writers and editors, independent of any business relationships. In this case, our investing team'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, balanced assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. Our highest priority is maintaining 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.