Brokerage Platforms · Tool Face-Off

Fidelity vs Charles Schwab

Quick answer

Both are elite zero-commission brokers, but Fidelity edges ahead on research depth and cash management while Schwab wins on futures trading and thinkorswim's advanced charting. Most investors will be happy with either — but Fidelity is the slightly safer all-rounder.

Our pick

Fidelity

Research-first brokerage with best-in-class cash management

4.6★

Charles Schwab

Full-service broker with a legendary active-trader platform

4.6★

Stock & ETF Commissions

Options Commissions

$0.65/contract

Futures Trading

Not offered

$2.25/contract

Mutual Funds (no-load, no-fee)

~3,500+ funds

~4,000+ funds

Default Cash Sweep Rate

~4.97% (SPAXX, 2024 est.)

~0.45% default sweep

Fractional Shares

Yes — stocks & ETFs

Yes — stocks only (ETFs pending)

Advanced Desktop Platform

Active Trader Pro

thinkorswim (inherited from TD)

International Trading

25 countries direct

12 countries direct

Account Minimum

Robo-Advisor (min. balance)

Fidelity Go — $0

Schwab Intelligent Portfolios — $5,000

Physical Branches

~200 locations

~400 locations

In-House Research Reports

Equity Summary Score + 20+ providers

Schwab Equity Ratings + 12+ providers

Fidelity

Mobile App★★★★½

Ease of Use★★★★½

Trading Tools★★★★½

Pricing & Fees★★★★★

Research & Data★★★★★

Customer Support★★★★½

Investment Selection★★★★½

Charles Schwab

Mobile App★★★★☆

Ease of Use★★★★½

Trading Tools★★★★★

Pricing & Fees★★★★★

Research & Data★★★★½

Customer Support★★★★½

Investment Selection★★★★★

Worth knowing

Fidelity is employee-owned — no quarterly earnings pressure from Wall Street shareholders.
Schwab absorbed TD Ameritrade in 2020, inheriting the beloved thinkorswim platform.
Fidelity's ZERO index funds charge literally 0% expense ratio — no fine print.
Schwab holds over $8 trillion in client assets, making it one of the largest brokers on Earth.
Fidelity swept $0 advisory fees on Fidelity Go accounts under $25,000.

Schwab's thinkorswim was so good that traders started petitions to keep it alive when the TD Ameritrade acquisition was announced — Schwab wisely obliged.

If you want

You want the best passive/cash management combo

Fidelity's ZERO funds + high-yield sweep account is a set-it-and-forget-it dream.

→ Pick Fidelity

If you want

You're an active trader who loves advanced charting

thinkorswim is genuinely best-in-class for technical analysis and options strategies.

→ Pick Charles Schwab

If you want

You want more physical branch access

Schwab's ~400 branches give you nearly twice the in-person support options.

→ Pick Charles Schwab

If you want

You want to start robo-investing with minimal cash

Fidelity Go has no minimum, while Schwab requires $5,000 to start its robo-advisor.

→ Pick Fidelity

Robinhood GoldVSCharles Schwab

Investing Platforms

Charles SchwabVSFidelity Investments

Brokerage Platform

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Fidelity vs Charles Schwab

Fidelity

Charles Schwab

Worth knowing

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